I was a bit cautious today and I traded lightly. I had a nice entry in RBN, but got shaken out. I still took some money out of the stock but missed out on the big move. A lot of earnings plays turn out to be big movers once they start trending. Next time when I get a good entry I will give them more room to run.
- 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.