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
For Tomorrow- If I Could
I will be flying to the LA Traders Expo as the market opens tomorrow. We cannot yet trade from 36k feet. But if we could I would. Before throwing my toothbrush into my travel case and folding my under shirts neatly, I thought I would leave you with some trading observations. If I was trading tomorrow 1050 S&P futures would … Read More
Do What You Do!
This week Roy Davis, Director of SMB Training, and I headed to the 92nd Street Y to listen to Dan Pink discuss his excellent, well-researched, thought-provoking new book on motivation in the workplace, Drive. Dan challenges our present management model by presenting new evidence why a motivational work environment should offer purpose, mastery, and autonomy (see awesome Dan Pink animated … Read More
Coach Wooden Taught Us Trading
“Do not let what you cannot do interfere with what you can do.” You become a better trader by finding the plays that make sense to you and trading more of them with more size. “It’s the little details that are vital. Little things make big things happen.” It’s the thousand little things done well before the chop that make … Read More
A ?4 the Trading Community- Should I Short?
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
Opening Range Play (MON)
On my latest StockTwits TV show, SMB University, I was asked about trading right on the Open. Often new traders struggle with this time period for two reasons: a) they miscalculate their downside risk before entering the trade b) they do not have a playbook with trades that work for the open. Well let’s try and correct some of (b) … Read More
Ten Mistakes by BP a Trader Should Never Make
1. No Exit Plan. There was no exit plan for if the rig (RIG?) exploded. Before every trade we must decide where and how we will exit BEFORE entering the trade. 2. Live to Play Another Day. It is not definitive that BP is a viable company going forward even with 6.08 Billion in quarterly profits. 1) When will the … Read More
Traders Ask: What is the Proper Exit on a Swing Trade?
Reader Alex asked: My name is Alex and I’ve been swing trading for two years. I’ve been reading SMB’s blog for a while, and really enjoy the posts on trader development. I have recently journaled a question that emerged during two of my recent short trades. I believe that this question relates to intraday trading as well. Depending on conditions … Read More