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

Friday, January 19, 2007

Tough Day, Lousy Week

Gross: +$391.00
Net: +$164.51
Loss From Top: $28.10
Trades: 97
Shares Traded: 173400

Stocks Traded Today (net profit/loss):
Abbott Laboratories (ABT): +$226.67
Citigroup Inc. (C): +$223.03
ConocoPhillips (COP): +$92.67
The Dow Chemical Company (DOW): +$55.90
Capital One Financial Corp (COF): +$14.49
Bank of New York Company Inc. (BK): +$3.01
Motorola Inc. (MOT): -$4.41
Alcoa Inc. (AA): -$62.77
Bank of America Corporation (BAC): -$94.86
General Electric Company (GE): -$121.16
Schlumberger Limited (SLB): -$168.02

Was it just me or was it tough to grind out some profits this week? Dang...I felt as though I was pushed and pulled every which way and the result was a week that has left me exhausted and tired.

It's a good thing I'm taking off to the Bahamas for most of next week...I could use some R&R after the rough and tumble week I've had.

This morning I was excited to get the trading day started because several big names came out with earnings and I was expecting a lot of movement.

I focused most of my attention on GE and MOT for the first hour of trade....unfortunately both of these stocks just chopped around for the first hour....and I got chopped around along with them.

I took big swings here and there and I lost some, I gained some and my P&L was bouncing around just as much as MOT and GE were this morning.

However I think I spent too much time trying to trade the choppiness on MOT and GE this morning when I could have spent it trading something with better moves.

All day I would just struggle and I'd find myself negative one moment, then positive the next and I never really seemed to get things going.

And that pretty much sums up how this week went as well. Kinda frustrated and I can feel it wearing me down. I was hoping for so much more in January, but so far, it looks like the same old same old.

I'll go away on vacation and hopefully it will help me put things into perspective and hopefully it'll help me get back on track. I can't keep things going the way they are...it's been like this for far too long now.

I'm not going to bother with the good trades and the bad ones....there were too many $200, $250, and $300 losers and winners this morning on GE and MOT.

Ok - that's it for now...I've got a couple of things I want to post before I head off to the Bahamas, so I better start crackin'.

Good Trades
Some

Bad Trades
Some

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3 Comments:

  • you might need a strategy or several strategies which fit different market conditions, otherwise there will be no guarantee to make everyday profitable...

    By Anonymous Anonymous, at January 19, 2007 8:04 PM  

  • Anon@8:04PM,
    Thanks for your comments. That's very true...I think I've got to be wary of the market conditions and adjust accordingly. One thing I have been trying to do this week was to take on more risk and this may have affected my performance. Have a great weekend and good luck!

    By Blogger J.C., at January 19, 2007 8:46 PM  

  • Now thats a great take excellent post impressive.

    By Anonymous QUALITY STOCKS UNDER 5 DOLLARS, at April 11, 2013 12:30 AM  

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