My esignal was slow during the open and I couldn't use my charts. I had CLF as a breakout over 134 so I hit the buy market button for 200 shares when it was breaking the number. I got huge slippage in the trade and was filled at 134.31 average. The stock immediately trades below 134. I held on briefly thinking that it would bounce back higher for me to get out but the stock continued lower. I ended up getting out for a $234 loss. I was too disgusted to even look at CLF again, and that is when it makes its move.
After my CLF trade, I took a bunch of small losers and was down $350 for the day. I made a bit back later but could not fully recover.
- 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.