Tuesday, May 06, 2008

Daily Summary



I was forcing trades early on and lost around 180 by 9:39. My pnl was seesawing between positive and negative for most of the day. I was down around 36 bucks until I made an aggressive trade in COV at around 2:15. I bought 600 shares at 49. I wasn't too confident so I got out of 200 shares at 49.04. The stock dropped fast and got out of my 400 shares at 48.75. I wanted to make a comeback but I could not find any trades. I also had a hard time trying to stay awake so I guess it is best not to force anything.

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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.