Monday, July 02, 2007

Daily summary

1600 shares
+63

Bulk of my profits came from a trade in MDR. I bought a 100 shares at 84.30 and sold at 84.90. I thought of holding it but decided to take profits on a wide range bar in the 5 minute chart.



update: I made a mistake on the # of shares and net. I traded 1600 shares instead of 400. My net is $63 instead of $69.

1 comment:

Anonymous said...

I'm a big fan of your website--you educate so many people about trading and that's exactly what I'd like to do with my upcoming book, An American Hedge Fund (10.01.07). I'd love to send you an advance copy for your review.

The hedge fund industry is now a $2 trillion industry and yet, due to industry regulations, the general public knows little about them. This needs to change. I promise this not the typical boring finance book!

My claim to fame is that I turned $12k into $2 million trading waaaaay too many microcap stocks from 1999-2002, created a hedge fund, became the #1 Short Bias Hedge Fund from 2003-2006, starred in the TV documentary Wall Street Warriors (500 airings now!!), and began appearing regularly on CNBC all before the age of 25.

This is no BS "How To" book--its the true story of a hedge fund created from scratch. People need to realize the hedge fund industry is not just about billion dollar blow ups and huge funds created by investment professionals who are already wealthy. My 'Rocky'-like story will surely inspire generations to come to take part in our true national sport, finance.

If you like it, I'd love to get a blurb from you by August 1st that I'll print on the inside or back cover (which should drive a few people to your site) and hopefully you could post a review around press time in October. No pressure either way.

Tim
tim@timothysykes.com

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.