Good traders pick their spots. Some opportunities allow us to be more aggressive than others. When we spot one of these opportunities we pounce, like a baseball player who takes a healthy cut a 3 and 1 fastball. If we fail to pounce then in our journals we must detail this opportunity so the next time we do. During our … Read More
One Good Trade: Inside the Highly Competitive World of Proprietary Trading
Thank you all for your suggestions for my book title. There is so much more that goes into writing a book than writing the book. Choosing the best title is one such example. BTW if anyone has not figured out my title yet see the blog title above. The working title had been The Way of the Prop Trader: Tools … Read More
Letting an IPO Run
“Bella I cut too early.” “Damn I cannot believe I sold that FSLR a point ago.” “I am such a wuss FSLR ran 3 points after I sold it.” I heard all of these statements on my prop desk today. Selling early is a constant struggle for all of us. One position that I let run is an IPO holding … Read More
Choosing a Book Title
I am now at the end of the process for my trading book with Wiley. My book discusses why traders fail and succeed as prop traders. It offers an inside looking into the highly competitive world of proprietary trading. I share what the market has taught me over the past twelve years. I introduce characters, traders some who have … Read More
What Do You Learn From Your Trading Journal?
GMan and I revamped our trading journals and the SMB trading journal on a 9 1/2 hour car ride home from the Outerbanks. And this has helped. For me my trading journal helps me to focus on my monthly and daily trading goals. I start each morning writing down my goal for the day. So my day is just a … Read More
Piker High Bid and STJ (From the Mailbag)
I received this comment about my last blog Second Day Play- STJ. Let’s discuss. Bella Very interesting and insightful blog post, i have some questions 1.Why did you not get long as mr.piker high bid stepped up, does that not indicate that break above 34.00 is more likely? 2.like you said the upper range from the prior day is 34.25, … Read More
STJ- Second Day Play
Yesterday I traded STJ for most of the day. I learned that 33.60, 34.25, and 34 were important levels. Essentially STJ traded in a range for most of the afternoon yesterday 33.75-34.25. Then into the Close STJ broke down and traded down to 33. So what can we learn from yesterday to help us today? I have a play for … Read More
Ten Observations From StockTwits Camp
On Friday I sat on a panel at StockTwits Camp at the NASDAQ MarketSite to discuss Reading the Tape. I was joined on the panel by @tickerville, @stevenplace and @howardlindzon. Here are my ten observations from Friday: 1 ) @stevenplace is GINORMOUS. 2 ) @tickerville is so smooth he could replace Brian Williams on NBC at any moment. 3 ) @howardlindzon has … Read More