I was in the hole for $200 in the morning. I made one trade that salvaged my day, a long in ORA. I got in at around 42.20 and got out at 43. I had around $30 in profits after the trade so I took a break till 2pm.
During the afternoon sell off I had short in AGU and was up 60 cents. I did not take profits and ended up making only 18 cents on 200 shares. I think I blew a fuse after that, because after I covered it drops 40 cents again. I gave my money away in the fertilizers for the rest of the afternoon. I was in a pretty bad mood during the last hour and I am finally calming down as I write this post.
My lesson for the day is stop trading when I get angry. I need some tips from attitude trader.
- 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.