Thursday, October 30, 2008

Finally recovered

In my previous post I had an $800 loss. That happened 2 weeks ago. It took me 9 trading days to recover from my loss. I usually recover faster but the loss I had made me think about my trading style and I felt there was something missing. During these past 2 weeks I made some tweaks to my rules. I think the major change is the incorporating some chart patterns to my trade selection criteria. I think it helps me see some order in the market and it also helps strengthen my conviction when I put on a trade.


Economist said...

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Benjamin Lee said...

well, the rule of money management is to to limit losses as much as we can. 10% losses will need about 11% gain to cover back but 50% losses will need 100% gain to cover back. is not that fair or else everyone would be millionaires by now already.


Attitude Trader said...


Look forward to your posts...don't be so long in between!

Good trading,


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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.