Friday, May 11, 2007

Held a winner a bit longer but not long enough


I had a nice trade in BAP today, but got out too soon. It feels good to ride a stock for more than nickels and dimes. The hard part is staying in the trade. I have to work on freeing my self from market bias. After yesterdays' drop I was a bit skeptical on long trades. I guess that's why Trader-X doesn't watch the broader market when executing his dummy plays. I have to learn to let my trades work.

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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.