I caught a nice longs in UA and TK. UA was my biggest winner. I had a 200 share trade in TK at 52.05. I sold 100 at 52.70 and 100 at 52.03. I went into CCJ four times but got shaken out on all my trades and lost money each time. That stock had a nice move though on a break of 42.50.
UA 5 min chart
- 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.