Monday, March 17, 2008

Daily Summary

6400 shares
+445

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.

2 comments:

NutCracker said...

HI, How come you traded 6400 shares since the size of your each position was 100? Just curious. Did you also scalp some trades?

OBAT said...

In the first hour was doing 200 share positions and since I had no firm conviction I was losing a couple cents here, 10 cents there, and one bigger loss of 30 cents. I think even with small share sizes the number of trades I do really increases my trading volume.

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.