Some days I am impulsive and I keep rushing into trades right after the open only to get chopped up. Today I was patient and looked for good reasons to enter my trades. My two biggest winners were ACI and APD. I noticed that the coal stocks were strong so I took a shot at ACI since it had a little pull back. I got 100 share initially and added 200 more when the stock was acting right.
APD was one of the stocks I found last night when I did my homework. Usually I just try to wing it everyday and scramble to find something after the open. I am going to put more effort into finding stocks to trade the following day. Pinoy Trader and Market Speculator who are both pretty good traders scan through a couple hundred charts after every trading day. I can see why they do so well.
- 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.