I was surprised at my pnl because I had a lot of losers today. I did not trade well in the morning. I was scrambling and flipping through charts looking for trades. I started of with a couple of losers and I was down over $150 in the first few minutes. It is good that I covered my pnl. If I saw I was down that much it would have a big influence on my trading. I would probably be trading scared or doing revenge trading. Another thing I did right is to keep my size at 200 shares. I had quite a few hits over 30 cents because I hesitated on my exits. I was tempted to check my pnl and see how I am doing. If I did I would probably have my excuse to stop for the day. It is good that I kept trading because later on I caught two small scalps which helped me make the bulk of my profits.
- 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.