Thursday, August 30, 2007

Daily Summary


I did ok overall, but I am not too happy with my last trade when I tried to pick a bottom in PCP. The market was still trending down and I am picking a weak stock. I did not wait for a reversal bar in 5 or 15 min. I also held on to the loser too long instead of cutting my loss when it was still small.

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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.