Tuesday, March 11, 2008

Daily Summary


With the Dow up over 250 right at the open I was not sure if I should look for longs or shorts. I choose the short side and had two nice stocks on my radar, CI and MDP. I second guessed myself and got out CI with a small gain. I only made 47 cents on MDP with 100 shares. I got to keep letting my winners run until I get stopped with my trailing stop or if they reach my targets of $1 gain or more.

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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.