Yesterday we blogged how one of our underperforming traders improved his results. Some of our Readers asked for examples and our trader obliged: Hey Bella, I’ve attached 2 charts – one breakout trade of SLB on 9/29 (10min candle chart) and one breakdown trade of AEM on 9/21(15min candle chart). The line on both charts indicates high/low for previous day. … Read More
Gaining an Edge: The Importance of Using Statistics in Your Trading
I received this email from a reader, excellent developing trader, and potential future trading star. It needs no editing and has awesome value to traders. SMB Chop Tracker Bella, Came across this article that I thought you might like. It’s written by one of my brother’s poker friends. This guy happens to be one of the best NBA sports bettors … Read More
From Bad to Great: a Trader’s Steps to Improve Performance
One of our traders went from flagged for underperformance, to Most Improved, to one of our better traders. How did he do this? Hey Bella, One of the things that has really helped me has been going back and studying the charts of all of my winning trades and finding similarities in the chart patterns and taking a … Read More
A Bucket of Trades
Let’s say I told you I wanted to improve my golf game. Specifically I wanted to get better at driving the ball. Currently I can drive the ball about 250 yards because I am no good 🙂 And I continued that yesterday I worked very hard on game. I went to my local driving range, parked the Lexus (the car … Read More
Traders Ask- How Do I Trade a Bearish Flag Pattern?
Hi Mike. Yesterday in you webinar you showed us a chart on Toyota that dropped nicely on bad news. After that initial drop the stock began a sideways move. The question is: Do you continue to trade that stock during the day even though its going kind of sideways, or do you wait for it to brake the lows or … Read More
Traders Ask: What R U Thinking While Trading?
Mike, A few nights ago I watched Alex Rodriguez pound two homers against Boston. As I watched, Alex was calm, collected, and observing what was being thrown at him. I wonder whats going on in his head during those moments, when he’s just waiting for the pitcher to release the ball? “Absolutely nothing” I said. “Alex is just intently … Read More
Traders Ask- When Do I Buy For a Support Play?
Question: Hi guys In Mike’s great book he talks often of “buying right” most often using limit orders at resistance/support levels and on dips during a momentum trade. For a while I’ve struggled to find the best time to do this. Can you please tell me, using a long trade as an example, do you place your limit order at … Read More
Traders Ask: Violating My Risk Parameters
Dear Mike, I hope that my email finds you well. One of things I’ve learned about trading at a proprietary firm, is that the best traders are also the most honest traders. They’re honest about their numbers, their mistakes and weaknesses as a trader. Today I took a real close look at my trading weakness. I want this to become … Read More