Tuesday, April 24, 2007

Plugging away


KCI

MHP


I had a big list of stocks to trade today. I am looking at stocks that reported earnings. I got going by making some small wins in AL and GRP. The biggest trade I had today was a nice scalp in MHP. I am glad I did not hold on for big gains. If I did I would have gotten stopped out. KCI was also nice to me. I had two scalps which gave me around $160. The stock moved up much further though. The rest of my gains were around 20-50 bucks. With scalping I take a lot of small losers between 2-10 bucks.

+679
26400

4 comments:

J.C. said...

OBAT,
Nice day! Seems like you've got a groove going on! Keep it up! I'm finding that if I stick around to see where a position goes, I end up losing on the trade....so for now, in and out quickly seems to be working the best (for me anyways). Keep those great numbers coming!

Flatwallet said...

OBAT,

I see that the smaller time frames are treating you well. Good job buddy.

LP

glenn said...

Nice day, living up to your name I see. It is amazing how fast small wins trun into hundreds of dollars.

OBAT said...

The small wins do bring confidence. That winning feeling is what I needed .

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.