One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade. This was his Trade Management slide for the trade. There are some lessons here. 1) Great job being in the best stock yesterday for intraday traders, RIG. You are only as good as the stocks you trade. This was a stock with … Read More
The Biggest Question for a Trader
Hi Bella, When I started out to go day trading, I feel as though I have wasted allot of money and time on so-called “education”. I can tell you that I have spent over 10k in it. A friend recommended (********) to me and I took their course. They made it seem so easy with patterns and MAs. … Read More
Do not say Practice
I end most emails with: “Keep working on your trading game.” We teach our traders to do the daily work each day that helps them improve. They are training to become consistently profitable traders (CPTs). Their ultimate goal is to become a your best trader (YBT). Apparently I could use better words to motivate my traders. Dan Coyle, author of … Read More
Trader Disney Land
Hey Mike, I recently blew my profits gain from the past 3 months in one stubborn trade. And not I dare not go in again as I fear I could be wrong again and lost money. My system was right but my emotions was burnt. This is not the first time I lost a trade but somehow I couldn’t pick … Read More
We are forgetting one important change in our economy
1. As @jheil said on Morning Joe yesterday, “The Yankees suck.” 2. Are we undervaluing an important positive change to our economy? That being: it has never been better to start a small business. If you talk to some of the biggest HFs in the US they are all preparing uniquely for the US fiscal cliff. Worse yet the perfect … Read More
Bon voyage to Paris to become a better trader
Bojour. I am flying through some nasty turbulence from southern France to Paris to catch my connecting flight back to NYC. I land, drop off our bags and my wife, grab a few hours of sleep and then head back to the airport for a flight to Toronto. I am the chairman and a presenter at Quant Invest Canada 2012 … Read More
Proper position sizing for your trading
Bella, I want to start off by thanking you for all of the material you present through your blog and your book. I look forward to your next book, I already have it pre-ordered on Amazon. I feel like I get more educational material from the SMB Blog than I get from my own prop firm in Chicago. I started … Read More
Where and How to Buy KBH
So KBH outperformed the market yesterday. There were many tweets on @stocktwits asking where and how to buy. This chart below gives you an entry to consider. It was produced by an SMB Trader and sent to his desk with the simple message: ” add this picture to your playbook. memorize this pattern. KBH @ 14.28.” We call this a … Read More