(This blog was written on 1/25/11. But I’m lazy so didn’t post it until tonight) When a stock has fresh news and huge volume it is a great trading candidate for me. My experience tells me that there will be more trading opportunities intraday in these situations and the risk/reward will be more favorable than most other trading scenarios. In … Read More
Perseverance
Perseverance: steady persistence in a course of action, a purpose, a state, especially in spite of difficulties, obstacles, or discouragement. At the start of the New Year, I set certain goals and high expectations for myself. However, in the month of January, I seemed to have a tough time trading. I started to have down days during my first two … Read More
Let’s Get Ready To Rumble
I received an email today from one of our trader/trainees. He was doing some prep work for earnings season and was interested in some feedback. Earnings season is the playoffs for professional traders. Each quarter during this period we are afforded additional trading opportunities with great risk/reward. It is essential that we are performing optimally during this time in order … Read More
Sleeping In Shanghai
I returned from traveling in China a few days ago. My body hasn’t made the time adjustment yet. There is a 13 hour difference between NYC time and Shanghai time. Night is day and day is night. Yesterday I was reviewing the SMB Scans which are compiled after the close each day. They consist of stocks in our tradeable universe … Read More
A Sea Of Blue
For the most part as expected the market has been quiet this holiday week. This is clearly demonstrated by this screenshot of theSMB Radar. We use color coding throughout each list to quickly assess how In Play any given name is. Red indicates “hot” and blue indicates “cold”. I know–we are so clever. Overall, when you see 90% of the … Read More
The Transition
Here is a great guest blog post from young Sammy who just finished his fourth live month of trading with SMB. Transitioning: The State of Change How a few changes are leading me to the path of success as a trader: Early on in my trading career, I was struggling and making many mistakes. I had all the right ideas … Read More
Oh—-The Pain!
During today’s morning meeting we discussed some of the recent reversals we had seen in stocks that were trying to push through longer term support. We took a look at reversals that had recently occurred in MON and WYNN. Both stocks attempted to drop longer term support last week but failed. So I suggested that UAL might be a good … Read More
Higher Time Frame
The concept of a “higher time frame” can have a positive impact on your trading results. In other words whichever time frame you are observing price action to make a trading decision you should consider a longer time frame to assist you. In my experience you can increase your win rate if you make trades in the direction of the … Read More