There were pretty good volatility in these past two days, but I got nothing to show for. Yesterday I got a $150 loss and had to work my way back. I was making the same mistakes again today and lost around $200 early on. It was good to make a come back but I am pushing my luck. I did not wait for things to settle down in the morning. I thought there would be a lot of quick momentum moves so I was putting out trades only to get stopped out. I go to stop impulsive trading and wait for good setups.
- 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.