It takes purposeful practice AND 10,000 hours to become great at anything, says this latest blog from Barking Up the Wrong Tree. I write about one way to practice purposefully in my next book The PlayBook (which you can preorder), by creating your PlayBook. I have written about other ways extensively on this blog (some examples below). Improving Our Performance … Read More
One-trick pony in many products or master of one?
Hello Mike, I hope that my email finds you well. I wanted to get your thoughts on the following: What works best? Mastering one set up and trading multiple instruments/stocks/etc… or trading multiple set up’s on one instrument/stock? Is this something that depends on the trader? Your thoughts? BELLA Gr8 question! In my next book The PlayBook, which you can … Read More
How you can determine how far a stock will move
Bella, I was wondering if you had any tips on figuring out when to ignore the ATR on a stock keep looking for entries. AVP was a stock I thought I had traded well at the time given that it was already overextended at the time. It has an ATR of 0.4 yet in the end it moved well over … Read More
Is a Time Stop a Reason2Cover My Position in GMCR?
Hi Mike, I know you are a busy guy but I had a question regarding exiting potentially wrong trades ahead of my stop point, something I’ve had difficulty with in the past. For background, I have stopped this practice as I have found that acting on my newbie instincts or interpretations of order flow has led me to cut positions … Read More
Do I Need to Learn to Read the Tape?
SMB Reader: Dear Mike, I wanted to reach out to let U know how much of a better trader I’m becoming thanks to U guys. It feels really good to notice daily improvements in my trading. I paper traded for 2 years and half before starting with real money 3 months ago. I’m a French award winning multi-platinum musician/composer/producer who’s … Read More
To Take or Not Take Breaking News Plays
SMB Reader: Hi Mike, How are you doing? I have an interesting question when I talk about trading plan with a local trader. Regarding trading plan, my idea is: trading plan is your preparation for next trading day, but I have to be flexible after the market open. which means occassionally I have to take some trades not on my plan. Trading plan is like the preparation for a … Read More
This is How You Trade COH
I received this question from a foreign college student who took our college training program during the summer. It is a wonderful program for passionate college traders interested in trading pro. Let’s check out his question and my answer below. I would be happy to answer any questions in the comments section or at [email protected]. Trade well! Today I had … Read More
Is It Better To Trade From Home?
Bella, I first saw SMB on Wall Street Warriors as a Senior at Drexel University. Then, I found (unknowingly) your book on audible and decided to give the book a shot (its great by the way). Your book and philosophy on trading presents me and a ton of traders I know with a challenge, “stop believing that we are the … Read More