There were very few on the train to work this AM. The volume is very light on the day after Thanksgiving. Probably 80 percent of traders take today off. Why did I trade today? Back in the day two of the best days I have had trading were on Black Friday. During the Internet Boom I walked in up close … Read More
Comparing Tomorrow with Today
We haven’t seen too many days where offers were paid like today in the past year. I mean that was just amazing. The buying in GS, the buying in AAPL. The explosiveness of the moves. How hard it was to get hit on the bid. Where did this buying come from? I would say today was strong but that would … Read More
Sunday Thoughts
At the office doing a few things with Steve, GMan, and Charlie. We are gonna watch some film at 3:15 with a few traders. We are putting together some new materials for Advanced Training and reworking one our websites. I am done with most of my part of that work. So now I starting to think about next week. And … Read More
Routine
As you may have been able to tell by now we don’t spend time on this blog pretending that we do not make mistakes. We do. But is your attitude that of Phil Mickelson who views every mistake as a learning experience? Or will you blame your failures on anyone or anything else other than you? I got out of … Read More
Midday Trading
I had a nice morning trading RIMM on the Open. Tough stock, but as I like to make sure everyone on our desk knows…. I am fast and agile. So RIMM is not too tough of a challenge for me. After the Open, I got up from my desk and took care of some firm business. And then I sat … Read More
A Fade Trade
During our video review session intraday today we watched some tape of TGT. One of our experienced traders, NYU, faded TGT into its second upmove on the Open at 33.75. There was a struggle at 33 and the buyers won sending TGT quickly to 33.80. NYU thought the move was overdone and got short. This was a poor fade trade. … Read More
Playing for UConn
One of the hardest things when you begin trading is focusing on what is important. At most firms there are leader boards in full view. On your screens it’s impossible to miss your P&L. But it takes about three years to become a great trader. And you can’t make a ton of money until you have developed significant trading skills and learned … Read More
Flat Before the Number?
After the Close our desk had a spirited debate about whether a trader should have a position before an announcement (in this case the oil and gas number). On Tuesdays we meet after the Close to watch video of One Good Trade produced by a few of our experienced traders. One of our most improved traders, let’s call him MIT, … Read More