Two weeks ago I wrote this post discussing that a lot of money was being made on the desk via reversal patterns. This post will discuss a few trades from last week that continued to show this pattern remains highly relevant and where a lot of money can be made intraday. On Thursday after the Supreme Court health care decision … Read More
The Trade That Never Happened
This morning I was reviewing Tuesday’s price action in APOL and found a long setup that I liked. On Tuesday while trading APOL I became somewhat enamored with the 35 level as it worked twice for me during the first 15 minutes of trading. But the truth is after 9:45 34.80 established itself as a much more important level for … Read More
You Got Me $APOL
I lost money trading APOL today. During my post trade review it became apparent to me that even with a few tweeks I still would have lost money day trading it. Sometimes stocks do not behave well. Perhaps APOL is better suited for swing and position trading? It has a history of trading erratically intraday. During the past few years … Read More
Tape Reading Was Money For This Play
On Thursday I was short MCP because it was trading below its two day support of 22.20. The market was having a trend down day and I was very comfortable holding the position until the close. But then something changed on the tape. There was a 100 share bid on ARCA at 21.20 that was being hit and continued to refresh … Read More
I felt a rip coming
I caught a scalp for the first downmove in DSW. I caught the upmove from above 52.12 to near 53. And I caught the downmove from below 52.50 to 51.65. I looked at my PnL and I was barely positive. How is that possible? I was not trading DSW on the open with size as it was so early and … Read More
The Pro’s Process – Mike Bellafiore
Richard Chignell from Embrace the Trade on the fourth of his series of posts has been asking Pro Traders about their psychological processes. From Mr. Chignell: The fourth in my series of posts asking Pro Traders about their psychological processes. Delving a little into how it feels to them when trading. The good and the bad. How this has changed … Read More
Are you guilty of Negative Self Talk?
I received this Daily Trading Review from one of our traders. It highlights the importance of learning to combat Negative Self Talk. I am an (expletive deleted). I had a comeback going, at 2:20pm I was down $23 after being down all day.I was calm and selective and thoughtful all mid day and into the 2:30 hour. I lost $250 … Read More
“NAV Again?”
Yes. As long as a stock is offering excellent risk/reward setups over and over I will keep talking about it. And for those of you who don’t know me personally it is not in my nature to repeat myself. I prefer to explain a concept once and then move on to something else. But apparently two blog posts, 5 mentions … Read More