My first post here in blogger was in October 2006 and I have been posting my pnl faithfully every day I trade. I went though a slump in 2007 as I struggled to adapt to changes in NYSE stocks. Sometimes I wonder if posting my pnl affect my trading performance. I know I constantly try to keep my pnl positive everyday. Sometimes I am fearful to take trades I see because I do not want a negative day.
Recently I feel my trading has been plagued by constant dollar counting. I will be in a trade and I keep adding up the gains and losses in my head has the stock moves. Most of the time I get shaken out of good ideas. There was a time when I would get into a stock, place a stop and just relax and let my trade work. As the trade goes in my favor I would trail my stops down until I get stopped out. I had good winners and they felt good because I followed the plan. I got to find that experience again.
Just got news that DT plans to suspend the VO for awhile. I will take this as a cue for me to make some changes in this blog. I am going to do a little experiment. I am not going to post my pnl for awhile and see how it affects my trading. I am still thinking of what type of post I will do since almost all my posts are about my pnl and trading day.
- 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.