Thursday, January 18, 2007

Drained..

Seems like I start off with a loss almost everyday. I had a $90 loss on my third trade bringing me down a little over $100. I had to really claw my way back with small little scalps. When I was down $20 a great relief came over me.

Then things began to turn again. I started having some small losses. I was down $50, then $80 then $100 again. I increased my size and got hit with a $37 and $54 loss. I was down $180 and I felt drained. The $20 loss I had earlier looked so good and so distant.

One part of me was going to give up and call it a day. Another part of me is telling me to trade because there is a chance. I continued trading and managed to trim my loss down to $60.
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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.