There were some nice moves today on the downside but I could not capitalize on them. I chopped myself up in the morning and was down $200. I think I was trying to short and ended getting squeezed because I was early. The big trade I made was a short in MOS for $142 with a 100 shares. Then I boosted my net up a bit with other short scalps.
- 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.