Trade2Hold Exit- AMZN

BellaGeneral Comments6 Comments

Today during our AM meeting we highlighted AMZN and the 123 level as a shorting opportunity.  This turned out to be a wonderful intraday trading opportunity.   As intraday traders gravitate towards a longer holding period, for us Trades2Hold, set ups like AMZN must be mastered. AMZN had earnings Thursday night, gapped up on Friday, and then sold off for … Read More

The Failure Rate of a Proprietary Trader

BellaGeneral Comments68 Comments

I remember the discussion like it was yesterday. It was in our former 8×10 makeshift training room/office/conference room/lounge with the first trader who ever failed at SMB Capital. JJ announced he was leaving to take a six-figure job at a financial services company in NYC. But let’s be honest. JJ was leaving because he was not making money as a … Read More

How Do You Spend Your Time?

BellaMike Bellafiore's (Bella's) Blogs10 Comments

GMan, Joe P and I traded QCOM After Hours (chop!) and then I hopped on the subway much earlier than usual to head uptown. It was a road trip for SMB to experience Avatar on the IMax with 3D glasses. On my ride uptown I overheard some new day traders from another firm talking. I found their conversation unproductive. Three … Read More

Banging In and Out of Stocks

BellaGeneral Comments16 Comments

As a desk we have transitioned into focusing on Trades2Hold due to different market conditions. Scalping has diminished. C trades deemphasized. We wait for our best set ups and execute. But then Obama entered the arena looking for a fight with the Banks. Things got ugly. And as traders we need to adjust again. Back in the Fall of 08 … Read More