The top In Play names this morning: WMT was my focus as the lowering of FY19 guidance was potentially a very strong catalyst. Early indications from pre-market trading were many traders were attempting to dump the stock ahead larger selling that would come after the opening bell. You can see my discussion of WMT in the AM Meeting here. With … Read More
Meeting Traders in Chicago Next Week: Trading with Stops
This was a bittersweet week for traders on the Street. The sweet? We saw one of our top traders post three 200k days. In one week, he made nearly as much as his best month ever. His goal of making 8-figures in a year became more of a reality. Our options desk struggled. They shorted volatility and got stopped out. … Read More
The Black Shirt
There is a Green Shirt that hangs on the wall of our trading floor. You earn the Green Shirt for posting 1m net in trading profits. And then there is the Black Shirt. For that a firm trader must earn north of 2m in net profits. The firm challenged the trader above, a Black Shirt recipient for 2017, approximately 4 … Read More
SMB at TradersExpo NYC- Feb 25-27
I will be presenting at the TradersExpo in NYC, which you can attend from Feb 25-27. I will be presenting on a panel spearheaded by my friend John Netto- Profiting in the New Market Ecosystem. I will also be presenting: Two Trades Working Best in Current Market Conditions. We offer a unique perspective to those who attend. We are a … Read More
Are you overly negative, or ignorantly positive?
It’s the end of the trading session. You’re a good boy- so you’ve definitely journaled and now you’re ready to begin your post-market review. This is where things get interesting for me as a mentor. Let’s consider two traders: Overly Negative Nick, and Ignorantly Positive Pablo. They both made the exact same trade decisions that session, but let’s see how … Read More
What worked well on our trading desk in 2017
2017 was a very strong year for our trading desk in NYC. After such a strong year it is important to study what went well so we can do more of it in 2018. So what worked well for our trading desk in 2017? Team Trading Senior traders who embraced building Teams made more. Junior traders who were willing to … Read More