SMB caught a nice trade in RIMM on the Open. We used an intraday support level from Friday to start a core long in RIMM today. Let’s discuss. RIMM finished up over twenty percent on Friday. RIMM had trouble trading above 60 into the Close but still finished impressively. During the midday 58.50 was a huge level on Friday. This … Read More
Don’t Be Satisfied
SMB has had a nice run the past three weeks. And as traders we should always enjoy the good times. We spoke to our desk after the Close about one thing that merits some mention. They can do even better. For the developing trader it is important to keep pushing yourself. If you have been trading for less than three … Read More
Psychology Drives Price
RIMM reported after the close today. It traded up over 20% from its closing price. You are going to read a lot of articles about how they “blew away” expectations and gave great guidance. The articles will assign these as the reasons for RIMM’s explosive up move after the market closed. Really? I don’t think so. Do you believe that … Read More
On the Open
Often new traders state, “I can’t trade the Open.” And then they decide to just watch for the first 15 minutes of trading. But doing this eliminates some easy money for you. And understand it is not that you cannot trade the Open, it is that you trading the Open poorly. But there are certain set ups that offer an … Read More
Learning to Let Go
One of our talented young remote traders sent me the following email a few days ago and I thought this was an important topic to address. Below is his email: Gman, I had a hell of a time with ACN this morning. There were a lot of screw jobs, and fake outs. The price action was very choppy and it … Read More
Tuesday Morning Fun – Excessive Celebration
On our desk we frown upon excessive celebration after making one good trade. Many get in an excited mental state which causes them to make several bad trades in a row. One of our traders found this link this morning. This is clearly an example of excessive celebration. Wait for the score at the end of the clip. http://video.yahoo.com/network/100284668?v=4656506&l=4418225 Enjoy. … Read More
Be Like Tiger
Tiger Woods won Bay Hill for the second consecutive year with a dramatic putt on the 18th green. It is a privilege to watch him work. We can all learn a great deal as traders from him. On “Pardon the Interruption” today an intro leading into this story asked- How does he do it? Well below is how he does … Read More
Hard Work Pays Off
We asked about 8-10 of our core traders to work on their skill development during the past two months. These are guys who had been trading live anywhere from 8 to 16 months. They had all previously demonstrated a high level of profitability. But the market environment changed and they had to adapt. They had developed some bad habits because … Read More
