I had a short bias today in the morning. I kept thinking the market would reverse and go down for another dip so I did not look for any long setups. By the time I changed my mind it was tough to go long since everything I watch was up big. I did try to get into some of the fertilizer stocks in the afternoon but I took profits early, chased, and was shaken out by dips. Overall there was just a lot of chop for me since I lacked conviction on my trades.
- 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.