We learn in Game Change that John Edwards rose to serious presidential candidate with a pregnant mistress. He was running as a devoted family man. In this same book we learn that John McCain’s staff legitimately wondered if Sarah Palin was psychologically stable, yet she was the VP selection for the Rs. Everyday trading gurus go on TV and make … Read More
Momentum Scalp Trade (V)
This Monday we made a Momentum Scalp Trade in Visa, stock symbol V. Perhaps you can make this trading pattern your own. Let’s set up the trade: On Monday June 21st V exploded intraday. Monday afternoon U.S. politicians reached an agreement on the regulation of interchange, or “swipe” fees on credit and debit card transactions. This language was expected to … Read More
A ?4 the Trading Community- How Do I Trade BP Now?
Dr. Steenbarger helped me recognize one of the improvements we could make at SMB awhile ago. The partners and Senior Traders must be responsible for a great deal of teaching and mentoring. But if traders are not leveraging the talent of all firm members then that firm is not offering the best learning environment. Traders learn from other traders and … Read More
Traders Ask- When Do You Buy? (Breakout Trade)
I received these questions from Reader Renato: Hi Mike, Hope this mail will find you well. I watched your stocktwits video on breakout trades (AEM trade). Since that is one of the setups I find most appealing, decided to ask you something. Very often, breakouts don´ t offer a lot of opportunities to enter the trade, since there is a … Read More
Traders Ask: How Do I Make Adjustments?
I received the following email from trader Angel: Hey Mike! I hope that my email finds you well. I have topic that may benefit some other readers as well. It’s about re-inventing the wheel. Back in april and early may I was trading very well. I had multiple $1,000 days and even a $3,000 day. However, when the volatility increased … Read More
Trader’s Ask: What Do I Gain From Video Recording My Trades?
I received this question from Reader Viktor: Hi, guys! I’m learning to trade, and i’m going to video record my tape. My questions are: what should i watch during my VRS of the tape? Bids, offers, size prints, mbe smth else? What exchanges should i watch in the box? During the trading day in active stocks among nyse, arca, inet, … Read More
An Intraday Reversal (BP)
Tuesday night news hit that a government investigation determined that BP had been spilling closer to 60,000 barrels a day in the Gulf instead of the 35,000 previously thought. This same night President Obama delivered harsh words for BP during his presidential address. The news was very negative for BP heading into today’s session. I started a short position after … Read More
Becoming One of the Chosen Few
This weekend I was invited by Stocktwits and the Money Show to speak at the LA Trader Expo in Pasadena. One of the most awesome things about the Internet and our young trading blogosphere is how much free trading content is obtainable. GMan and I refer to this as domain knowledge. And acquiring domain knowledge is an import ingredient to … Read More