Tuesday, September 16, 2008

Conservative trading

After a slow week last week, I was pretty happy to make $500 bucks in the morning especially with the crazy choppy action. I was done trading mentally and couldn't really bring myself to take any risk in the afternoon. There was good opportunities to on the short side when the market broke down to new lows and I just stood by and and watched the action unfold.

My trading has been like this the past month. I would be very conservative on days with big movement. After the good trading days are over I would think about the money that I could have made. I start to get aggressive on the choppy consolidation days and lose money. My confidence gets affected and I get wimpy when the big days comes along again.

DT and his office made a killing today. In due time I will get to that level. I need to get that hunger and drive to move forward.

2 comments:

Brad said...

Can you contact me? brad@ino.com

Best,
Brad

Dinosaur Trader said...

OBAT,

That's a good attitude. The RO definitely keeps me forward-looking, that's for sure.

-DT

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.