On my blog for Yahoo Finance Contributor, The Trading Coach, there is an Ask Anything option. One reader asked: What are the advantages of trading prop? We are a proprietary trading desk in NYC, trading stocks, options, futures, and automated trading. The firm, powered by Kershner Trading Group, provides capital, training, coaching and mentoring, technology and assumes all risk. … Read More
5 Lessons from the Prop Desk
I was grateful to be asked by my friend, JC Parets (@allstarcharts), to present at Chart Summitt 2017. My mandate? Share 5 lessons from the prop desk. As always, I love to include anecdotes from traders succeeding on our desk to teach. And I did so again here in this online presentation. My 5 lessons from the prop desk were: … Read More
Fail, Win, and Then Fail Some More: The Path to Becoming a Winning Trader
Part II of our training program on our prop desk in NYC is Trader Development. There is a lot of necessary and wonderful failing that goes on during Trader Development. During this process traders experiment with different setups that we highlight. There are trading strategies worth exploration that active traders use to win. We continually point them out daily during … Read More
The Trading Setup That Turned One Trader into a 7-Figure Trader
Thursday we held an online class for our trading community: The trading setup that turned one trader into a 7-figure trader. The replay of this class can be found below in HD video. Here is what you will learn from this class: The trading setup that catapulted a floundering developing trader into a 7-figure trader The path this trader traversed … Read More
Misery–Nothing Worked Today $CREE $STX $EAT
(1/25/17) Things didn’t work out so well today. Technically, EAT trade idea worked perfectly but I forgot to enter my “trading script” pre-market so I missed the short at 46, which worked perfectly trading down $2 to our first support area. It’s actually my second favorite setup for a stock reporting earnings: poor EPS & guidance that pops to well … Read More
I like this trading pattern in Mattel ($MAT)
I like this trading pattern in $MAT: a) stock gapping down b) stock with a negative news catalyst c) fight on the tape where the seller wins d) holding below VWAP e) no longer term technical support in sight f) staircase stepping down visually on our charts g) hold short for a real move We have this pattern today in … Read More
Exploring a Newly Stressed Trading Strategy on the Prop Desk
A tight wedge pattern for Stocks In Play is favorite trading strategy newly stressed on our proprietary trading desk. Two chart examples of this trading pattern were seen just yesterday with ATI: and CSX: I prefer when these wedge patterns appear in a Stock In Play- something with a news catalyst behind it. Breakouts from these wedge patterns work best … Read More
See the hypos!
I’m grinning from ear to ear today. One of my mentees was tasked yesterday to begin preparing premarket “hypos” each morning. It’s just what it sounds like – a few hypotheses for how the day might unfold, therefore providing a roadmap for the day with key inflection points and potential targets. Here’s a screenshot of his premarket journal post in … Read More