Wednesday, January 17, 2007
Trying to regain my feel
I started out down again. I lost around $80 after the first few trades. I had to really slow down and regain my composure. I told myself that if I keep my loss small I have a chance of coming back. The market was pretty choppy in the morning and there was a lot of whipping action in my stocks. I was real selective and it paid off when I caught some small profitable scalps. I am still trying to figure out how to trade hybrid stocks. It reminds me of the time when I first started trading. I feel like a newbie again. I made around $108 today.
- 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.