I received this email last night about using collaboration as a way to improve learning. this is Sam H, from a while back. Anyway, let Mike know that UMBC (University of Maryland, Baltimore County) is using the collaborative method your training involves. My review of the book (One Good Trade), as you may remember, spoke to this kind of learning as ideal. I … Read More
Why Do I Trade Worse on Monday?
I read the comment below from a daily review from a trader with whom I work. I asked Dr. Menaker, trading psychologist, for his input. I have developed a pattern of being too aggressive (each week, a different kind of way, after I learned my lesson a prior week) on Monday’s. Today did not have to be aggravating. I could’ve … Read More
Traders Ask: How Do I Trade a Price Spike?
Hi, During trading today I realized that my playbook is missing a play: positive price spikes when you are already in the trade. I couldn’t find a place in your book or your website where you talk about this. I’m wondering if you can offer some analysis. Attached are some one- and five-minute charts (I was trading off the five minute … Read More
Traders Ask: Did I trade this correctly?
Hi Bella If a stock fails a resistance level and you go short thinking it is a perfect Opening Drive Trade2Hold, but then 20 cents later there’s a buyer holding the bid, bid drops, then comes back, you cover, right? Can you flip from Trade2Hold to range scalping? Although, the play ends up being a perfect Trade2Hold an hour later because … Read More
The Overanxious Trader
I was reviewing a monthly review from a mentee, Shark (sometimes Shark Daddy or Sharkalicious or Shark Shack), that I thought could use the thoughts of Dr. Menaker, trading psychologist. Shark wrote: Too excited on days I want to do well. I force too much. I had such high expectations for myself coming into earnings season that I started … Read More
Add a Little Nuance
Hi Mike, hoping to borrow just a bit of your time for another trading question. I continue to find that the most difficult part of trading is deciding when to take off a winning trade. I believe the problem is that I am not confident and decisive enough in my plan when I enter trades. When it comes to my … Read More
Traders Ask: Are you concerned when a fellow desk member is on the opposite side of your trade?
Dear Mike, I just recently applied to SMB, and as my interest was piqued, I decided to do more research by reading your book. I was instantly hooked. It cleared up a lot of my misconceptions and, to be honest, made me feel a bit abashed about some of the answers I put down in the application. At the same … Read More
SMB at Georgia Tech
Watch Mike Bellafiore, Author of One Good Trade, lecture at Georgia Tech about the skills needed to succeed as a trader in the future. The title of this presentation is called The New Franchise.