Tuesday, September 25, 2007

Daily Summary


I was patient and selective today. I will be focusing on strong stocks that break out of consolidations intraday. Here are to examples of what I am looking for in a trade. I am looking to increase my sizes when I get more comfortable trading these setups. This type of trading is seems familiar to me. I think I traded like this back then when I was doing well. Somewhere down the line I forgot about this simple style and did fancy things like picking tops and bottoms.

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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.