An NYSE Scalper's Tale - A Trader's Diary

Sunday, March 05, 2006

A Lot of Work for $30 (Fri Mar 3, 2006 Results)

Gross: +$118.69
Net: +$30.40
Loss From Top: 153.08
Trades: 51
Shares Traded: 85332

Stocks Traded Today (net profit/loss):
Pfizer (PFE): +$67.24
EMC Corp (EMC): +$41.61
Bell South (BLS): +$35.47
Pepsi (PEP): +$1.21
JP Morgan (JPM): -$44.77
Micron Tech (MU): -$70.36

Friday was another day when I wasn't really feeling the markets. There were many missed opportunities that I was just too slow to capitalize on. At the end of the day, I was left with only $30 to show for it.

Again, another day with no really good nor bad trades. However, I counted at least 5 trades that would have been very profitable (had I been quick enough), and that made all the difference today. When I have days like these, I'm usually really pissed off with the result, but I should look at the positive side of things: when I have bad days like today, I usually don't lose a lot of money (or sometimes end up with a slight gain), which is a good thing (means I am cutting my losses early before they get out of hand).

I did start using larger share size when trading on Friday, but I noticed that I was getting a lot of partial fills when trying to get 5000 or 6000 shares. I had many trades in which I only got 300, 400, or 1800 shares. This could have been because I was having an off day on Friday and I was a little slow in reacting, so we'll see how things go on Monday.


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