You make a great trade, but then lament that your trading position was too small. You take a loss on a trade, and then grieve that your trading position was too big. If you could just get your position sizing right, then you could start making significant profits. Then you could have a realistic chance to become a CPT- Consistently … Read More
8 ideas after you take a large loss as a trader to propel improved trading results
I treated my dad to Game 3 between the Yankees and Red Sox last night. I was pumped all day for the game. Admittedly, I spent more than I should have for seats. But I am a huge Yankees fan. And my dad and I used to have season tickets for years before his health issues. Even my son was … Read More
This trader wants it all and wants it now- Should he?
Hi Mike, I hope you are doing well. I am reaching out to you because I am struggling a bit, having kind of a rough month so far….. I violated pretty much every rule in my rule book which is why I decided to take today off and rather spend some time analyzing the situation and maybe come up with … Read More
Weekend learning lessons for traders from SMB: How a junior trader had his most profitable day ever
This was overall a frustrating week for traders at our firm and for the traders that I mentor outside the firm. That happens. The key is to learn and grow. There were however some highlights. One Junior Trader had his best PnL day ever. We detail the trade in step-by-step detail that led to his best trading session ever here. … Read More
Weekend learning lessons for traders from SMB: How to buy a hot stock
We just finished one of our best months as a firm. What can you learn from the success of our traders? Our traders gravitated to the stocks most In Play, the pot stocks. Our traders expressed their edges with more sophistication- options, hedges. The most successful traders were both aggressive when they saw their edge AND patient. Traders worked together, … Read More
Weekend learnings lessons for traders from SMB (after one our best trading weeks)
This was one of the best trading weeks we have had as a firm. The pot names offered outsized opportunity. We have been fighting the overextension in TLRY for several trading sessions, with hedges and with responsible max losses, and traders on the desk were finally paid. I loved seeing the growth in trade structure by traders on the desk. … Read More
The issue that many traders needed help with this week
There is an issue that many traders needed help with this week. I saw this need across the board and at many firms, even firms trading different products. It is a tricky subject with a different answer for different traders. But it just kept coming up this week. Getting this aspect of your trading right is the difference between struggling … Read More
Weekend learning lessons for traders from SMB: work on your trading game to improve
This week was one of the most opportunistic that I can remember in some time. The pot names and IPOs were immensely volatile. Next week sets up to present many large opportunities again. The weekend is a terrific time to work on your trading game to improve. We offer some ideas below to improve your trading from this trading week. … Read More