Friday, August 24, 2007

Daily Summary


I started the day aware of the low volume so I was very cautious. I was just relaxing and taking it easy and then I got hit with a $60 loss. From then on I lost my poise because the loss even though it was small was nagging me to make a come back. For some reason I didn't think the market would rally so I shorted some BID at 43.90 and added to my position. I got squeezed when it broke out because I was stubborn. I turned a winning trade into a loser. Then I put on some more trades and chopped myself a bit more. Things look clear right now. Going long is the way to go.

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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.