Thursday, April 12, 2007

Finally some green



Today I enforced some discipline into my trading. I watched MW for most of the day. On my first trade I got 200 shares when it broke the trendline. There was some buying activity on the tape which confirms the breakout. I got out of 100 and made 49 cents. I was stopped out on the other half with 16 cents. The second trade I bought when it broke out of the consolidation on the 38% retracement of the move from daily low to high. This time I just scalped and got out with 40 bucks. As you can see the stock had a nice leg up and I scalped along the way.


+$172
4200 shares
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1 comment:

Dinosaur Trader said...

Hey,

Congrats on the green and thanks for the VO plug.

BTW, how do you type on the esignal graphs like that? Whenever you have an abundance of free time I'd love it if you could shoot me an email with the secret. I'm slow with this computer stuff.

Thanks, DT

7:26 PM

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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.