Monday, February 04, 2008

Daily Summary


I could have walked away with a small gain or small loss but I kept trading and ended up with a bigger loss. I did not like the choppy action and the tight ranges. Every time I put on a trade I either buy near the highs or short near the lows. One thing I did right was using small size of 100-200 shares and keeping my cool. I was getting pissed off but I did not try to revenge trade. Next time I see this kind of action I will walk away and trade another day.

1 comment:

Sanglucci said...

I hear that OBAT I got tossed around today in the financials churning 800 share positions.... pretty stupid on my behalf but I agree with taking a back seat when the market is actin like this and there's no juice newhere..... the morning was alright man I CRUSHED Humana but gave all that shit back and then some.... what a shitty day

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.