Monday, July 16, 2007

Daily Summary


I caught a nice JCI long in the morning, but I got out a buck to soon again. I gave back some gains later on in the day when my long trades in LVS and TXT failed to work.


Eric said...

What share size do you normally use when you are scalping?


OBAT said...

I am not scalping any more these days. Scalping is a lot tougher since the hybrid so I am learning a new style.

The JCI trade was a dummy trade. I bought 100 shares when it took out the 2nd bar high on the 15 minute chart. I am just doing 100-200 share positions for now.

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.