Tuesday, March 06, 2007

Another one of those days

I bought 200 shares of VOL at 34.97 the near the high of the day. I was lucky to get out with a 112 loss. Then I went long FRO on the break of the 2nd 15 min. bar high. I cut my loss early because the stocked looked very weak. I lost 60 bucks on the trade. I had to trade my way out of the loss. I managed to come back and ended flat for the day.

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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.