Thursday, July 19, 2007

Daily Summary - Spared from losing $300


My day followed yesterday's pattern. I kept putting on trades that end up getting stopped out for losses. I had nice winners which came all the way back to my entry points. I was down around $250 after all my losers. Then I caught the first breakout of VMI and manage to cut my loss down to around $100. If I wasn't greedy I would have been net positive after the trade.

After that I went downhill again and followed a losing path. I was down $300 at my worst. I was hoping and praying for a comeback. I lucked out and when I caught VMI. I don't like days like these. If I were only a bit more selective it would have been a nice day.


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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.