Monday, December 18, 2006
A numb feeling
I did not do anything right today. I have 40 losing trades and 9 winning trades, a very low winning percentage. I varied my trading sizes. Whenever I felt that a trade would work, I took a larger position and got whacked. I was aimlessly flipping through different stocks. I was impatient and took too many impulsive trades. I had a lot of small 5-10 cent losers. I am down $415 today. Usually I would feel some pain but today I feel numb. I wonder if it is a good thing.
- I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.