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

Monday, May 08, 2006

The Last Trade Saves The Day

Gross: +$670.88
Net: +$520.17
Loss From Top: 0
Trades: 59
Shares Traded: 148624

Stocks Traded Today (net profit/loss):
Hewlett Packard (HPQ): +$403.85
Disney (DIS): +$132.50
Citigroup (C): +$124.66
Bank of America (BAC): +$75.24
Corning (GLW): +$4.25
General Electric (GE): -$17.07
Micron Tech (MU): -$43.27
Sprint-Nextel (S): -$66.51
Pfizer (PFE): -$92.88

It was another fairly slow day today and the trade that salvaged the day was the very last trade.

Not much to tell you about - the only thing I can say is that today I was using larger share sizes quite comfortably (several 8000 share trades). The unfortunate thing about today was that there wasn't really much movements in the stocks I was trading. As a result, today was littered with many 1-cent losers and 1-cent winners.

Within the last hour, I put on several small losing trades and it looked like it was going to be a disappointing day.

However I caught a lucky break on Hewlett Packard (HPQ) in the last 15 minutes of trade and I managed to pull off an average day out of a disappointing day.

As I said before, there wasn't much movements in the stocks I was trading so there were only 2 good trades today, no bad trades (managed to keep all losing trades to under $100).

Good Trades
10:20AM - Hewlett Packard (HPQ) and the Futures were uptrending. Got long 6000 shares and got out as follows: 3-cent loser (2000 shares), 4-cent winner (4000 shares) ($220 profit before fees)

3:48PM - Hewlett Packard (HPQ) looked like it hit resistance and the Futures were really doing anything. All of a sudden, large size appeared on the bid (about 600+ size). There was some size left on the ask, so I hit it for 8000 shares. Got out as follows: 3-cent winner (6000 shares), 4-cent winner (2000 shares) ($260 profit before fees)

Bad Trades


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