I started off with losses in early trading and I was down $170 before 10am. My bad trading habits carried over from last week as I found myself entering moves late and picking tops. I was aware of what I was doing wrong and I quickly cut my size down to 100 shares. I was looking over some stocks and found VLO and CNX. I took 100 shares short on each stock and caught $2 moves. I also caught a nice short on WHR for $1.85 on 100 shares.
- 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.