Friday, December 14, 2007

Daily Summary

12600 shares
+396

I was up a little over $100 after going long the morning rip. I noticed the agricultural stocks moving up and I bought AG at 66.50. The stock stalled at 66.85 and I got out. MON, MOS, CF, and POT all moved up over $2. Out of all those stocks I managed to pick the weakest one. Later on in the day I made money shorting MOS and MON. Since these stocks are pretty volatile and I am trading scared these days most of my trades are 100 shares. With a smaller size I feel more comfortable and I am able to withstand some wiggles.

6 comments:

hrgreen said...

Youve been doing great! OBATRDER is my hero!

Anonymous said...

You're not alone on feeling a bit scared in this market. I'm going to join you and start playing with smaller position size.

Attitude Trader said...

Just ask MissTrade - you don't have to trade huge size to make money. You're working it perfectly. Stay small, stay consistent, make money, and avoid big blow outs. Increase size slowly as you build your account size.

Awesome work! Have a good weekend.

AT

Bubs said...

Great week OBAT!

OBAT said...

I think a main factor in my trading results is confidence. With that little extra confidence I have less hesitation in taking a trade when I see one. I think if I can be consistent that means I am doing something right and with constant repetition I can form some good habits. So my main focus now is consistency.

akalawoo said...

The most important thing is to stay in the game as long as possible.

It is good to trade small with this kind of market since there are no clear cut direction yet.

When there are clear direction then increase your lots size.

Cheers

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.