Thursday, July 05, 2007

Daily Summary

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During the past few days of trading I have been trying to find a style that is suitable for me. This has been a recurring theme for me since the beginning of the year. I keep switching between scalping and an intraday position trading style, without making any meaningful progress. I want to lengthen my time frames, take fewer trades and go for bigger gains but my own compulsion keeps interfering with my plan. Today I managed to eek out a small gain by doing some scalps. I guess my daily goal now is to keep my trading positive so I can build some confidence.

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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.