Tuesday, February 06, 2007

Stick to my stops or bail early

I made $250 today. There was one trade that got me for $105. There were some red flags after I got in but I decided to stick to my stops. On this trade I bailed before my stop was hit and the stock zooms up over $3.

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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.