Thursday, September 25, 2008
Not so lucky this time
I got myself into trouble again. The past two days I was able to make a come back from being down over $300. Today my confidence was gone. I lost $625 today. My lack of discipline is pretty alarming. It is tough to start every day losses. I think I am going to take the rest of the month and preserve the little profit I have left.
- 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.