SMB’s newest trainees have now been trading “live” for four weeks. Before going live they went through an intensive five week program to establish the building blocks for a successful trading career. During the first five weeks of their training they sit near each other on the trading floor. This helps to build a sense of team and encourages them … Read More
Being Too Cute
Yesterday I made a silly mental mistake on the open that cost me my morning. I was expecting a small downtick on the open before the rally so I tried to get too cute. I shorted GS on the open. I was trying to catch the first down move so I could have plenty of leeway for my long for … Read More
Making Adjustments as the Market Changes
As traders we are constantly asked to make adjustments as the market changes. One of the questions I am asked most frequently by potential recruits for our desk is “how has the market affected the trading system that we teach?” My response is that we teach the same system we have been using for more than a decade. Our system … Read More
Do Not Chase Stocks!
A problem I see time and time again in my own trading, but more so in inexperienced traders, is when you miss a move in a stock or in the market, we tend to chase and push. This is obviously a lack of discipline. But how can you protect yourself from this? First, let everybody understand that it is alright … Read More
Excellent Risk/Reward Trades
This post is going to be short but sweet. I will highlight two trades from today. The first is a technical trade that was highlighted on our AM Ideas Sheet. The second is an example of a low risk entry point in a stock that is usually quite difficult to trade intraday. Recently, gold has been very strong. For the … Read More
Keep Track of Key Levels
In my last post, I stress the importance of stock selection. Easy money! Bella mentioned CAT in one of his posts. CAT at the key levels of 30 and 29, is a perfect example of easy money and stock selection on three separate days. Check the chart below. All you needed to do was follow up, know the key levels … Read More
SMB at Trader Expo in NYC
SMB has been invited to present two free workshops at the International Traders Expo, which will be held at the New York Marriott Marquis Feb 21-24. We invite you to join us at these workshops to learn more about our proprietary trading methods and the skills necessary to become a consistently profitable active trader. I have included a summary of … Read More
Trade Stocks That Are in Play!
We talk a lot about how important price matters in making consistent money. But it is equally important to be in stocks that are in play, that are moving. Stock selection is crucial in making consistent money. I have been frustrated lately with many young traders on our trading floor over the past couple of weeks, because I feel that … Read More