After a pretty hard down move in the SPY’s yesterday we gapped up today and never looked back. Today’s action reminded me a bit of September 24th when we gapped above 113.60 SPY and never looked back either. On September 23rd there had been some vicious selling but we held the 112 support area. Yesterday we held 113.20. As Brian … Read More
Adam’s Rules
Sometimes it is necessary to state the obvious…
Identifying the ABC Trading Pattern: A Key Trend Reversal Indicator
A simple pattern in context of a more complex trading day.
Don’t Give Away An Edge
The market had a broad rally on Tuesday. When we came into the office on Wednesday we cautioned our traders against chasing moves in stocks that could be a bit overextended when the market opened. Our thought process was to look for safer long entries based on the prior day’s support levels. I think you probably know how the rest … Read More
Be Careful When Your Routine Changes
I have a fairly set schedule each trading day. But on Thursday morning my routine changes as I have a pre-work obligation that changes my schedule. I generally arrive at the office one hour later than usual and do not run the AM Meeting. This change in routine has had some fairly negative consequences on my trading PnL. 90% of … Read More
Breaking Your Keyboard
I know that when you trade it’s best to stay calm. And busting your keyboard is not keeping cool. I get and have blogged that you make poor trading decisions when you are not in the zone. But having sat on a prop desk the past 12 years of my life I have heard and seen many smashed, broken, and … Read More
The Open Today
I wasn’t feeling that great on the Open today. How you feel both physically and mentally can have a huge impact on your trading results. If you are tired you will process information less quickly and in today’s highly volatile market this will put you at a severe disadvantage. If you are feeling worn out from being tossed around in … Read More
I am a Complete Idiot!
Bella discusses his poor stock selection on the Open today.