I averaged around $300 a day for the past 5 days, but considering the crazy volatility with the commodity stocks, I think my performance is mediocre. It seems like everyday I see stocks with $5 ranges or more.
I have made a little adjustment to my profit targets. Right now I take profits whenever I can instead of trying to get the perfect exit. I have been trading a lot more shares since I am doing more scalp trades. I am not going to get excited over my 5 days of above average gains just yet. Let me see if I can keep up my performance and increase my profits.
- 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.