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

Tuesday, December 12, 2006

Not Much To Say About Today's Trading

Gross: +$670.97
Net: +$571.76
Loss From Top: 0
Trades: 98
Shares Traded: 91202

Stocks Traded Today (net profit/loss):
Corning Incorporated (GLW): +$207.02
Texas Instruments Incorporated (TXN): +$179.68
Safeway Inc. (SWY): +$73.42
Citigroup Inc. (C): +$73.30
Nucor Corporation (NUE): +$33.04
Best Buy Co., Inc. (BBY): +$29.22
DirecTV Group Inc. (DTV): -$23.95

I'll keep it short as I don't really have much to say about today's trading session.

The system seemed to hold up pretty well today (just a few ECN and routing problems and a few problems cancelling orders). Charts still sucked in the morning. All in all, just another regular day at the office.

As usual, most of my profits came in the morning and in the afternoon I was able to make very little.

There were also a few trades in which I should have used bigger share size - there were a few 500 share positions that could have been 1000 shares and a few 1000 share positions that could have been 2000 shares.

It's just that I'm not very used to trading a lot of those thin stocks (stocks with small bid and ask size) and so I have to get used to it.

I should have traded Best Buy (BBY) a lot more than I did. It was just that I couldn't bring up a chart for this stock this morning (yes, my charting software really sucks) and so I was reluctant to really do anything with it until later in the afternoon.

There was a nice drop in the overall markets at around noon (about an 8 handle drop on the S&P eMini's), but yet most of the stocks I was watching didn't really react to the same extent as the Futures.

Despite the nice drop in the overall markets during lunch, I wasn't really able to profit too much off of that (as I said, things didn't seem to go down to the same extent of the Futures).

Then I had to wait out the snooze-fest that was the markets until the FOMC announcement.

And even after the announcement, I was finding that stocks and the overall markets didn't want to convincingly go anywhere and I found I had to trade cautiously. As a result, I spent the late afternoon getting in and out fast, since there was a whole lot of jiggling going on.

Today I wasn't able to capture any real good move and that was probably the difference between a good day and an excellent day today. It's too bad too - it was another day in which very few mistakes were made.

No good trades today (wasn't able to capture any real good moves) and no bad trades today (very few mistakes made).

Let's see what tomorrow brings shall we?

Good Trades

Bad Trades



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