Thursday, September 04, 2008

Good volatility but I'm putting on wimpy share sizes

The volatility has been great. I found many stocks breaking down and managed to catch some $1+ moves the past 3 days. Today I made most of my money in CMI, FLR, and UBB. I could have had some big days if I took larger share sizes. Since I traded small (100-200 share positions), my days were just slightly above average.

I think I got to be more cautious tomorrow since we already had a big move. From reviewing my trading stats, I usually have a tough time trading when the markets or my stocks put on inside days or narrow range days following big moves.

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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.