Thursday, March 22, 2007
Even though I was trading small I still got myself into a -$150 hole. I held on to my losers too long and had some $30-$60 hits. I had quite a few chances to come break even and was up at one point if I closed my positions. I held on too long and my profits disappeared. I trimmed my loss down to around $43.
- 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.