I traded a lot of shares today. I was up over $130 after my first trade going long NXY, but traded it away in less than half an hour. Then I started losing money and was down around $200. I had to work my way back. I think I am getting some bad habits again. I noticed that I am watching the tape closely and trading with the 5 minute chart. I am also aiming for small gains so that's what I got.
- 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.