Wednesday, September 12, 2007

Rough Day...

So... I just lost $6 on a trade, trying to short near the whole dollar. Patrick was telling me that even though it's a big order, compared to the average volume it's really not that much. And since it's thin btwn that and the next big order, it's probably better to go long instead and it'll be good for like 10 cents.

Well, it's been a rough day... my winning percentage is like 10% today and that was for a grand total of $2, even though I knew that I should've held that scalping trade and make $15 or so on it but I took it, lest I forget what the taste of winning is like.

Lots of bad trades today, kind of. I got burned on TSL and couple of times I tried trading IWM and SPY because they correlate to the S&P futures pretty closely when I feel it was making a move but I got with probably $3-$5 lost each time.

I felt like I haven't really improved that much recently. I know that scalping, especially the speed is suppose to come in time and actually Lawrence called me out on being way too broad and general with my comment. He's been saying to keep my losers small and he suggested 3 cents... which quite frankly, I dunno, that's not a whole of wiggle room. What do I want to improve on... that's for another time, like in the moring. It's too late right now and I've got to get some sleep.

... I feel like I should branch out of my pod and talk to some of the other traders more, but how do I approach them? "Hey, I'm Jason. I'm new. I suck right now. What's been making you money?" God, that former NYSE specialist guy Ben yahtzeed already. Sick! Well, he does have much much more experience than me. Argh! Just frustrated, you know. For awhile all this trading stuff seemed to make sense but now it's all completely foggy again. son-of-a-bitch!

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