Monday, August 27, 2007

Daily Summary

5000 shares
-200

Ending early today. My first trade should have given me a clue about my trading today. I took 1k shares of EMC looking to make a few pennies and ended up losing 6 cents. I had no winners, just some more $20-50 losers. I feel like I am about to fall asleep watching this market. I am going to get some rest.
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2 comments:

Anonymous said...

Obat,

Do you find the hybrid setup of the NYSE a plus or minus ? Some traders are saying they think it's harder to trade it.


Quentin

2:13 PM
OBAT said...

I used to rely on reading the specialist and have been doing it since I started trading in 2002.

With the hybrid the tape is lot harder to read and things move much faster, so I am still trying to adapt. I think guys who started after the hybrid probably won't have much difficulty because they don't have the same habits that I have.

2:29 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.