Friday, June 20, 2008

Daily Summary





This week was tough. Every day I struggled just to break even. I had no confidence with my trades and every time I entered I had a feeling I would lose money. I need to review my rules again because I am trading without a plan right now. I think that is why I feel so lost.

I was going to take the day off, but got drawn into the morning action. Since I was trading half heartedly and with fear I lost money.


The Average Jay said...

I enjoy checking in on you. Hope al lis well. Sounds like you have hit a wall. I would like to now more about how your trading. What do you look at or try to trade. Just drop me a line and say hello. I am on Yahoo IM everyday trading with some other guys. I did well last week with some more defined approaches to tradeing


OBAT said...

Hey Jay,

Thanks for checking up on me. I've hit a wall this past 2 weeks. I think my slump may be related to how I am thinking during the trading day.

I catch myself feeling fearful, anxious and tired each day. I am trying to trade but I am not there mentally. I haven't done my nightly research to come up with a good watchlist for a few days. Each day I would be playing defensively - trading not to lose money, instead of looking for the right trades.

I'll see what this week brings.

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.