Mike Bellafiore, partner at SMB Capital, and trading author, chatted live today with Charles Kirk from The Kirk Report. Mike discussed many different aspects of trading and also answered several questions from readers. Click here to replay the chat.
What Do You Learn From Your Trading Journal?
GMan and I revamped our trading journals and the SMB trading journal on a 9 1/2 hour car ride home from the Outerbanks. And this has helped. For me my trading journal helps me to focus on my monthly and daily trading goals. I start each morning writing down my goal for the day. So my day is just a … Read More
Piker High Bid and STJ (From the Mailbag)
I received this comment about my last blog Second Day Play- STJ. Let’s discuss. Bella Very interesting and insightful blog post, i have some questions 1.Why did you not get long as mr.piker high bid stepped up, does that not indicate that break above 34.00 is more likely? 2.like you said the upper range from the prior day is 34.25, … Read More
Reading the Tape: Trading into a Position
Gman, head trader at SMB Capital, wrote an excellent article for Wall Street Cheat Sheet about using tape reading skills to trade into positions. Gman discusses how to use tape reading skills to have more conviction in your trades, even if stocks never get to your dream prices. You can read the full article here.
STJ- Second Day Play
Yesterday I traded STJ for most of the day. I learned that 33.60, 34.25, and 34 were important levels. Essentially STJ traded in a range for most of the afternoon yesterday 33.75-34.25. Then into the Close STJ broke down and traded down to 33. So what can we learn from yesterday to help us today? I have a play for … Read More
Using Longer Term Levels Intraday
I want to discuss two stocks today that touched important longer term levels. There are several ways that an intraday trader can use an important longer term level. The first is as a price target. If a stock has been trending down recently and there is a major support level ten points lower then you can focus on trading that … Read More
It’s Called Trading!
As part of our training process we ask our remote and in-house traders to tune into our training calls. I was trading AIG in the close and was leading the call. I received a couple of emails from some new trainees who were just confused by my style of trading. Their questions and comments are quite valid and educational so … Read More
Ten Observations From StockTwits Camp
On Friday I sat on a panel at StockTwits Camp at the NASDAQ MarketSite to discuss Reading the Tape. I was joined on the panel by @tickerville, @stevenplace and @howardlindzon. Here are my ten observations from Friday: 1 ) @stevenplace is GINORMOUS. 2 ) @tickerville is so smooth he could replace Brian Williams on NBC at any moment. 3 ) @howardlindzon has … Read More
