Below is our newest installment of The PlayBook Checkup with Bella, author of One Good Trade and The PlayBook. During these sessions a trade archived by a Junior Trader from our desk will be reviewed by Bella. Real-time attendance is free for SMBU Tools subscribers, who can also ask questions during the event. In this video, an SMB trader talks about his trade in Facebook, stock symbol $FB, with a best practice highlighted that can help your trading.
@MikeBellafiore
This video blog below shows the importance of an elite trading process. The trader scoured through his past trading results in $FB and detected that he had edge in the afterhours right after it reported. Thus when $FB reported yesterday, he started trading it in the afterhours.
Most developing traders trade $FB way too often. $FB is generally not the greatest intraday trading stock because it touches too many prices causing stop outs. During mentoring sessions at SMB, I correct when a new trader always wants to talk about how $FB had traded intraday. $FB should be traded during select times so you have edge, which we discuss below. This trader did not have edge expect right after it reported in the afterhours so said his trading results. But because he has an elite process, he found opportunity to trade when he had edge and build from his strengths.
Do you know where you have edge in your trading? Do you have an elite process that helps you find your edge? Even edges that may surprise you? Consider the work of this trader and develop his best practice for your trading.
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You can be better tomorrow than you are today!
Mike Bellafiore is the Co-Founder of SMB Capital and SMBU, which provides trading education in stocks, options, forex and futures. Bella is the author of One Good Trade and The PlayBook.
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