Friday, July 27, 2007

Daily Summary

7200 shares
-13

I gave away all my profits in one bad trade. I thought the market would make a strong rallying into the close so I was looking for a good long. I saw BLK when it was at 165 and I hesitated. It kept moving up and I got sucked in. I was looking at the 15 minute chart when I made the trade. If I looked at the 5 min, I would not take the trade. I was chasing the stock looking to make a scalp and lost 70 cents instead.


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1 comment:

hrgreen said...

OBT
I have been working on that very thing, read my thursday post... http://59-cedar-st.blogspot.com/2007/07/no-trades.html

HR GREEN

5:21 PM

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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.