Tuesday, March 27, 2007

Not good

Yesterday I made $19.

Today I am down $200.

I would be alright if I ended the day down while I take setups that are a part of my plan. Today I just traded in a plain impulsive manner. I need to clearly define what kind of setups I need to take and follow rules.

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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.