Wednesday, January 24, 2007

Did better today

Today I was patient and was able to find a good trade in ABC. I got 300 shares at an average price of 50.55. Sold 100 at 51.65. Then I got stopped out of the rest at 51.36 and 51.32. I was a bit greedy on my 200 shares. The stock went up to around 52.18 and sold of sharply. After that I had a 40 cent move on 300 shares APD which turned into a loss of 11 cents because I wanted to let it ride. I did not really catch anything after that, just churned and gave away some profits. I ended the day up $200.

3 comments:

mc said...

Do you have a list/set of stocks that you watch everyday? This might help you focus on finding/executinig your set-up instead of scrambling during the day to scan/look for stocks.

Just a suggestion.

IIO said...

Congrats on a winning day. I've been reading your blog and was hoping your luck would turn, especially after that 15 losing streak.

onebadtrade said...

I don't have a daily watchlist. I usually try to find stocks from my scans. Last week I threw out a most of my scans and narrowed it down to 4. The 4 scans I have are a high% gainer/loser, and a gap up/down. It has improved my focus.

Thanks for the suggestion MC. I am going to set up a watch list and try it out next week.

About Me

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.