Thursday, February 07, 2008

Daily Summary

11200 shares
+546

I caught DE and CLF short in the morning. I only had a small position because I have not been trading well the past few days. I got to work on building my confidence in taking larger positions when I feel confident about the moves. Late afternoon I gave up $100 trying to pick bounces in the fertilizer stocks. My problem is freezing when the price turns against me and holding my loss to long.

2 comments:

Bubs said...

Nice day today! Your good days are much better then your losing days. I have a problem where I will make $200-$300 for a few days and have blowup day where I give it all back.

OBAT said...

Last month I had a blow up day and gave up over $900. The thing about these days is I can see it coming. I start out with small losses and nothing seems to work. I get frustrated and I over trade. I put on big positions( gambling plays ) and end up losing more.

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.