After the Open we meet with our new class and ask them to share a good trade from the open. There was a lot of I bought at this important level and the stock only went up from there. Was it really the level? So the first Newb saunters up to our 65inch flat screen which displays our charts, announces … Read More
Bella on Talk Your Book on StockTwits TV
At 9PM EST Bella will appear on Talk Your Book on StockTwits TV with Dr. Phil Pearlman. Literally Mike will be talking about his book One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley Trading) Mike also will discuss the importance of StockTwits.
SMB Trade of the Week- Bearish Momentum Trade (VPRT)
Each week we share with you a trading pattern that we use consistently on our desk. Like most successful traders (all?) we have measured the win rate for this trade. In short we are giving you an intraday trading pattern that works. In this SMB Trade of the Week we will share a Bearish Momentum Trade that we made in … Read More
Traders Ask: One Good Trade?
From Reader Angel: When you refer to “One Good Trade, then another One Good Trade, then another” does this imply that new traders should never have multiple positions on at the same time, but should instead focus on one position (i.e. One Good Trade) at any given time? After the trade is over, then move on to the next “One … Read More
Why StockTwits is Important $$
All progress is initiated by challenging current conceptions, and executed by supplanting existing institutions. George Bernard Shaw I was talking with a well-known, paid, financial media contributor today and he posited a most interesting question, “Why do you SMB guys share so much on StockTwits for free?” There are many reasons but I want to focus on the one most … Read More
Review of SMB on StockTwits TV
During one interview today I was asked what SMB gets out of all the sharing we do on StockTwits. Well really thoughtful emails like the below are one thing: Mike, For what it’s worth, my observation of the changes and improvements that you have made in your video presentations over the past months is that they are remarkable. The … Read More
Aint Nothing But a Trading Thing
Yesterday one of our new traders stopped into my office frustrated, looking for a pick me up and wisdom. I provided neither….. purposely. And these moments are always a little awkward as the trader waits for the wisdom and I purposely withhold. I imagine them wondering I think I just stumped Bella. Often I will change the subject, in this … Read More
Could You Reenter?
I was aggressive buying GENZ into a pullback today and got stopped out of 2/3 of my position. GENZ closed $1.30 above where I got stopped out of most. When GENZ broke above the opening highs of 66.85 and spiked to 67.25 my interest in buying a pullback was initiated. I bought 66.81, 66.61, and then 66.46. I hit out … Read More