I had a nice win in MON in the morning for $212. I was leaning toward the short side but saw other fertilizers reversing up so I went long 300 shares at around 95.96. Stock had a quick pop and I pieced out 100 at 96.50 and 200 at 96.75. There were some good setups and I was actually in the money for over $300 bucks but I got greedy and ended making a lot less. Then I lost some more during the midday chop. I played around with 100 shares in the late afternoon but did not get any traction.
- 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.