Tuesday, February 19, 2008

Daily Summary


My trading was totally off today. I tried to get a aggressive early in the morning but did not catch anything. I was probably down around a $100. I felt like I needed to make something happen. Even though I did not see any thing great I took trades and had numerous losers. By the time I realized that I need to slow down I was down over $250. I just could not make a come back.

I felt like my loss could have been a lot smaller today if I listened to my instincts. I did not have a feel for the markets today. My impulsive trading in the morning was a bad sign. I need to be cautious on the first day of the week by taking it slow instead of rushing in to trade.

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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.