One of our new traders poked his head into my office yesterday and asked,”What do you think of TSLA?” I had read a few things about the IPO but nothing that led me to think it would be especially hot. The whole electric car thing is cool but I didn’t feel the hype (think huge margins and a ginormous upside … Read More
Momentum Scalp Trade (V)
This Monday we made a Momentum Scalp Trade in Visa, stock symbol V. Perhaps you can make this trading pattern your own. Let’s set up the trade: On Monday June 21st V exploded intraday. Monday afternoon U.S. politicians reached an agreement on the regulation of interchange, or “swipe” fees on credit and debit card transactions. This language was expected to … Read More
A ?4 the Trading Community- How Do I Trade BP Now?
Dr. Steenbarger helped me recognize one of the improvements we could make at SMB awhile ago. The partners and Senior Traders must be responsible for a great deal of teaching and mentoring. But if traders are not leveraging the talent of all firm members then that firm is not offering the best learning environment. Traders learn from other traders and … Read More
Traders Ask- When Do You Buy? (Breakout Trade)
I received these questions from Reader Renato: Hi Mike, Hope this mail will find you well. I watched your stocktwits video on breakout trades (AEM trade). Since that is one of the setups I find most appealing, decided to ask you something. Very often, breakouts don´ t offer a lot of opportunities to enter the trade, since there is a … Read More
Trader’s Ask: What Do I Gain From Video Recording My Trades?
I received this question from Reader Viktor: Hi, guys! I’m learning to trade, and i’m going to video record my tape. My questions are: what should i watch during my VRS of the tape? Bids, offers, size prints, mbe smth else? What exchanges should i watch in the box? During the trading day in active stocks among nyse, arca, inet, … Read More
An Intraday Reversal (BP)
Tuesday night news hit that a government investigation determined that BP had been spilling closer to 60,000 barrels a day in the Gulf instead of the 35,000 previously thought. This same night President Obama delivered harsh words for BP during his presidential address. The news was very negative for BP heading into today’s session. I started a short position after … Read More
Becoming One of the Chosen Few
This weekend I was invited by Stocktwits and the Money Show to speak at the LA Trader Expo in Pasadena. One of the most awesome things about the Internet and our young trading blogosphere is how much free trading content is obtainable. GMan and I refer to this as domain knowledge. And acquiring domain knowledge is an import ingredient to … Read More
A ?4 the Trading Community- A Rule for Giving Back Profits?
Dr. Steenbarger helped me recognize one of the improvements we could make at SMB awhile ago. The partners and Senior Traders must be responsible for a great deal of teaching and mentoring. But if traders are not leveraging the talent of all firm members then that firm is not offering the best learning environment. Traders learn from other traders and … Read More