Wednesday, October 31, 2007

Daily Summary

14800 shares
+24

I was trigger happy in the morning and I found myself down over $180 after a few trades. I have been trying to increase my size a bit but it hurts when my trades are impulsive. I slowed down and made a come back in a long in SGR on a move up from 11:30. Since I did not trade well in the morning I only had 300 shares of SGR. I made around 50 cents on 200 and 1.47 on the last 100. That trade turned my day around and I was up a little over $100. Then two trades later lost most of my gains. Seems like I got a knack for getting into a trade and have it quickly reverse 20-60 cents on me. After the FED decision my quotes were all delayed so I stopped trading.
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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.