I received a very good analysis of a trader’s HPQ trading after the close. Let’s take a look and then discuss. HPQ – Considering I was in the opening drive, I definitely should have made money in HPQ today. After fees/etc. I’m sure I was down in it. I bought some (but not enough) above the 24.30-35 area. I got … Read More
Happy Buddha Says
An email from a new trader: Hi Bella, My Weekly Goal: 1. Being patient to wait for great setups to get aggressive 2. Trade 200 shares responsibly on excellent R/R setups 3. Go over entire Reading The Tape lectures again 4. Recognize bigger picture and trade stocks that move away from prices 5. Get more well-rounded in this new market … Read More
Trading this volatile market
After the close some traders who I personally mentor send me a review of their day. One trader emailed: Overall- Today was a productive day both in terms of learning and in terms of P&L. I have had better days in terms of P&L, but I came out of a hole on the open and I am more proud of … Read More
You need to make more right now
A veteran trader stood in my office, mind racing, frustrated at his results from the past week. “You know Mike during 08 I made a lot of money getting back into trading after being away from the game. I told myself that they next great trading opportunity I wanted to be on a trading desk making real money. I am … Read More
The market requires a tuition to participate
I have had the pleasure of getting to know Michael Martin over the past few years. Hands down one of my favorite trading educators on the Street. And it is so entertaining when he shares his stories about other great traders who he knows, has been mentored by or has read about. He is a Wikipedia of trading anecdotes. I … Read More
Traders Ask: Do You Wait for a Stock to Open?
Hi Mike, I seem to recall you mentioning that one way to catch opening drives is by watching the first ticks of the stock when it opens. My question is: do you trade the first ticks of a stock when the specialist is not there yet, or do you wait for him/her to show up? Thanks in advance, and happy … Read More
Two Lessons from an Improving New Trader
I received this email from an improving new trader. It’s a terrific anecdote on two lessons learned by a developing trader making progress: Bella, I just wanted to send a quick note to thank you for all you do to help new traders, you have helped me immensely! Your book One Good Trade has been a tremendous influence on my growth as a trader. … Read More
A better stop
A frustrated new trader stepped into my office to discuss a few specific trades from yesterday. He got wicked out of a good short in CVC and a few longs in C into the close. He was looking for some guidance. First there were a lot of things this new trader did well. He was in the right stocks. He … Read More