Tuesday, September 02, 2008

Update...

I ended the month of August with some profits. I was going to take the last week of August off, but I decided to trade. I ended the week with small loss. Even though the loss was small my confidence took a blow. I was already on a vacation mentality and the last thing I want to do is take a big loss near the end of the month. Since I was afraid of losing money, my trading got sloppy. When I had a negative pnl, I found myself looking for nickel and dime moves instead of good setups so I can break even.

I am starting this month slowly. I will see if I can build some momentum and end this month strong.
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1 comment:

JMJAtlanta said...

Green is green. So congrats.

I reduced my size quite a bit last week once I saw the chop. I ended the week down, but only executed a few trades.

Keep your chin up! A post on another blog led me to this encouraging interview with W. Clement Stone...

http://www.financialsoftware.com/afforgs/documents/Vol7Issue8_000.pdf

3:21 PM

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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.