Wednesday, July 11, 2007

Daily Summary


I went back to the drawing board again to make a change to my trading layout. I made my charts smaller so I could fit more of them. I think part of the reason why I lost money the past two days is because I over traded. Most of the money is lost going in and out of stocks and losing on the spread. I am going to use 15 and 30 min charts from now on. I think I tend to over trade when I look at shorter time frames. Since I have more charts up I can see more stocks and take the cleanest looking setups.

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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.