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.
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.
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.
2 comments:
What share size do you normally use when you are scalping?
Eric
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.
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