Monday, August 06, 2007

Daily Summary


I spent most of the day on the side lines. I did not have much conviction on either side. I nearly blew away the little gains that I have in my last trade when I shorted 100 shares RDN at 23.15. Stock ran all the way up to 24.49 in 1 minute. It fell back quickly and I got out break even. I was lucky on this trade. I shorted into strength and held on to a loser.

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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.