I had a good rhythm today and got the direction right. I caught the morning spike up on the long side in MOS and TRA. Then at around 9:50, I noticed that AGU was having trouble so I shorted it. When the fertilizer stocks made a lower high I figured there could be more downside. Later on I caught a nice short in MON for 1.40 on a 100 shares. I also had some other scalps that added nicely to my gains. I think today I traded pretty well and my win percentage is pretty good. My win rate is usually under 50%.
Here's my win rate for today:
# Win Trades: 25 Win %: 69
# Loss Trades: 11 Loss %: 31
- 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.