Friday, March 07, 2008

Daily Summary

18000 shares
+320

There was good money in the short side but my trading was off again. I was doing well in the morning and I caught a bounce in the fertilizer stocks for $300+ . Then I reversed to go short when I saw some of the AG stocks weakening. I shorted AGU, AG and TRA and got squeezed a couple of times. I pretty much lost all my gains that I made. I began to have doubts about the trend of the market. When I got short later I was scared and only went for small sizes. I also took profits early because I was in scalping mode. Overall it was good to come back green for the day. I have to end my day early because I am attending a 5k run.
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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.