Getting your priorities correct really helps shape the trading day for optimal progress. One trader with, with whom we are working, is coming along nicely. Firm is happy with his progress. Our sense is he has a real chance to become good. Our job is to help him set priorities. Is that to make money? Or is that something else? … Read More
Should You Trade the First 30 Minutes?
Some traders say that trading the open provides some of the best opportunities each day. Others are of the opinion that “the first 30 minutes is for fools — fools that want to be separated from their money.” So which is it? More importantly, which is it FOR YOU? All this noise about “the open” can breed confusion and fear. … Read More
The Earnings Fade
Each morning before the market opens we review stocks that have fresh news catalysts. We call these stocks “In Play”. When a stock has what appears to be a positive catalyst and yet is trading lower in the pre-market we take notice. Sometimes a stock with a positive catalyst will be trading lower because it has recently run up prior … Read More
Rules for high conviction trades
During a daily review a developing trader tackled his system for re-entry with high conviction trades. In his words on his high conviction IBB breakout trade, expressed with LABD: (LABD) Was one of my larger picture ideas for the day. Was using this 3X leverage ETF to play the IBB breakout. IBB looked positioned for a breakout on the daily … Read More
Solutions for improving your trading entries
Hope your doing well. I just wanted to let you know how much I appreciate your book, “One Good Trade”. I have the audible version and with my hour commute to and from work to (brokerage firm). I’ve listened to it countless times. Yesterday afternoon I decided to listen to it after a rather disappointing month of trading and caught … Read More
Trading lessons from Happy Hour
We held a traders Happy Hour last night for our proprietary trading firm. Some of the new hires having a blast asked how often we hold Happy Hours. And I thought, “What we don’t cover this during recruiting?” Note to HR. Rooming the room to check in on everyone a few trading lessons emerged: Traders were gathering and discussing new … Read More
Sometimes the best trades just come to you
Sometimes the best trades just come to you. Today was a perfect example in SUPN. During our 11AM mentoring session with our new class, we discussed this important trading lesson. Yes! we need to prepare before the open. Yes! we want to develop theses for trades. Yes! stock selection best for you is important before the market opens. But we … Read More