After the close one day this week I encouraged our traders to CALL OUT awesome potential trading opportunities. Shark called out SXCI into one close and the firm and individual traders caught a very profitable trade. I got our Floor Manager into ILMN for an opening drive play at the start of the week. He sent me an email of … Read More
Chill!
Here are two comments made from two SMB traders in their daily review sent to me after the close. Both harm their results by trying too hard. Do you do this? I am slowly becoming less and less content with just making $$$$ (note: SMB cannot talk our PnL because of compliance reasons) and calling it a decent day. I … Read More
The Trading Elite: Discussions With Top Financial Traders
What do professional traders do day-in and day-out to beat the markets? What separates the amateur from the professional? Why is it that some traders make millions while others can’t even get their account into the green? Those are the questions I set out to answer when I decided to get in touch with several of the top financial traders … Read More
Buy, sell, move on
Below is an argument from a trader on our desk not to hold stocks during this earnings season. The trader suggests to get in and out and not expect much follow through with stocks to the upside. Kind of a frustrating market day because the market is slowly grinding higher throughout the day but individual stocks don’t really make hods. … Read More
A hint to make more this earnings season
After the close SMB met in its training room for a talk led by me. I haven’t given many talks of late but I thought the desk was due for one after my observations of their trading. It is earnings season. There are tricks to scoring. And there are things traders do to harm their results. Trying to hard is … Read More
Should I bench this trader?
A few weeks ago a developing trader on our desk sent me his trading review for the day. He had traded at least 15 stocks and was negative in nearly all of them. I responded: There is no reason for you to trade more than 8 stocks. Set that as a rule. You have to see the big picture and … Read More
This is a trader’s fault
I received this trading recap from an SMB Trader: I love these types of days where I can keep my tickets really low and keep 95% of what i gross. For some reason when I trade from home, i don’t over trade and am able to keep my tickets really low. maybe because i have other responsibilities when i stay home like … Read More
Five Suggestions for Traders
I was in my office today working on my next book The PlayBook when I got pinged with this from the trading community: Mike, what do you do when you’re a practicing trader, working, saving, and studying to begin trading live, and you feel your motivation begin to peter out. You have this goal but the road there seems like … Read More