Today's market action was a bit confusing. The market was down overall but commodity stocks were up. I just did not see any nice down moves in my stocks. There was some action in the brokers but I was not watching them. I was down around $100 at noon so I took a break. This kind of action is tough to trade and many of my big losing days came as a result of trading on days like these. In the afternoon I kept my size to 100 shares and I lost a little more.
- 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.