Monday, March 24, 2008

Daily Summary


I made some money going long TEX and MTW in the morning. I got excellent entries but exited too early. I thought the market would make a quick pull back. I was out of my stocks at around 9:40 and I tried to get back into MTW twice but each time I got in it looked like it would reverse so I took a small hit. After losing $50 I had to stop because nature called. When I got back at 10:30am everything already ripped up. I managed to catch some small moves in TEX and DE on the short side. I did not trade much after that. The market was strong, but it traded in a tight range. I decided to end early.

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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.