Thursday, October 16, 2008
Lost it again
I thought my blow ups are in the past since I have been trading small and exercising discipline for over 2 weeks. Today I lost it and got emotional again. I was cursing at my mistakes and praying for my losers to work. I was down around $280 and I took a 500 share trade and lost $150. After that I lost my cool and forced more trades. I lost $800 today and now I am down $200 for the week.
- 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.