I am up $350 today. I think I got lucky because I took a trade that I normally would not take. I shorted 300 shares of POT near the open at 144.54. I covered 100 at 144.50 because I felt a little uneasy. POT is a stock that you don't want to be wrong in. The stock had a quick drop. I covered 100 shares at 144.05 and the other at 144.13 for a nice gain. I see a lot more volatility this month but I am still trading like a wimp. Even with a nice start I was unable to bring myself to take more trades. I felt fearful of trading my profits away. I guess I am happy to have a nice day after a long slump. I need more decent positive days to regain my courage.
- 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.