Friday, January 05, 2007

Lost

I was flipping through my stocks and did not see a thing. When you have no clue on what to trade and you trade anyway, that's a recipe for disaster. That's what I did today. It experienced one losing trade after another. I wiped out yesterday's gain with my $340 loss. I am done for the day. I got the weekend to mull over my mistake.
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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.