Tuesday, November 20, 2007


I was hasty and impatient in the morning and lost $200 after some bad trades. I tried to go short, then long but nothing worked. I managed to make a comeback with CF by catching a $1 drop. I got out way too soon because my trading was dominated by fear. When my pnl became positive I closed out my position because I I wanted to get green and reset my mental state. The market continued its weakness and I caught some more scalps on the short side in other fertilizer stocks. I was doing well and was up a lot more but gave some back when the fertilizers stocks became real choppy in the afternoon. There were probably 5 times when I let my profits reverse on me and punch out with a loss.

No comments:

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.