I have never experienced a large gap down like the one today so I was very cautious. Even when things looked like they were moving up strong I was afraid of the volatility and the thought of being trapped long while the market reverse down violently scared me. I did not anticipate such a sharp reversal to the upside. I came in really bearish, but after I saw such a strong bounce I decided that it was not wise to short.
- 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.