Wednesday, January 10, 2007
My gains got cut down again
I had some good trades in SGR in the morning. I manage to make around $250 trading small 300 share positions. After that I my gains were chipped away as I took sloppy trades. I traded 7 other stocks and lost money in all of them. I have a win rate of 30% today, a pretty weak number. I ended my day up $115.
- 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.