Wednesday, March 19, 2008

Daily Summary


I caught some moves on the short side in BTU and ACI. I did not let my trades run today because I kept thinking the market would find support and bounce so I played it tight. Overall I think my trading has improved a bit since I am able to see some setups and find things to trade. I will continue to focus on finding trading opportunities instead of thinking about making money. Last week after my $900 day I was just thinking about making cash with the volatility in the market. I traded recklessly and gave back my gains in 2 days. My goal is to make steady profits everyday.

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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.