A key point in the EUR/CHF trade was when the price fractured the areas of support, which are identified by the Fibonacci retracement at level .618 % at an approximate price of 1.2800. Once those areas have been breached, we expect the trend to be lower than the previous minimums, but in turn, the price increases producing up trends. This … Read More
Book Review of One Good Trade from CrossHairsTrader
CrossHairsTrader wrote this thorough review of One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley Trading): When I assess the quality of a book I ask myself four questions: 1. Did the author teach me something I did not already know? 2. Did the author reinforce much of what I already know? 3. Did the author leave … Read More
One Observation From The Trading Day
Being in the right stocks will largely dictate the type of day you will have. If you are in the most In Play names you are going to generate PnL commensurate with your skill level. This is why we have an AM Meeting to discuss the stocks that are most likely to be In Play for the day. Even if … Read More
Old School Lessons from Mike Bellafiore
Mike Bellafiore, Partner at SMB Capital, and author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading was featured in the recent issue of SFO Magazine. In his article, Old School Lessons For Mastering Today’s Markets, Bella discusses what it takes to become a great trader in today’s changing market. A must read for new traders! The … Read More
Getting Help From Your Peers
One of the best things of trading in a group environment is that you can get help from those who sit around you. Yes, trading is a competitive arena but that doesn’t mean you can’t look for help within your group. We love working with Dr. Brett but unfortunately for us he cannot sit next to us every day to … Read More
OPENING DAY
Tomorrow is Opening Day! All the statistics from last year are thrown out and we start anew. Spring has arrived with its warmer weather, flowers blossoming and sunlight extended. All those fans of non playoff teams gain a great gift- hope. No matter that the Tampa Rays failed to make the playoffs in 2009 as most predicted- this could be … Read More
Insights from Brian Shannon: 10 Lessons for Traders
Brian Shannon of www.alphatrends.net and @alphatrends was our special guest speaker yesterday. During a busy week of trading, the NYC Trader Expo, and meetings, SMB was grateful that our good friend found some time to talk with our desk. It was a lecture not to be missed. Thank you, Brian! Here are ten things that I learned from Brian’s … Read More
Market Commentary from JToma
It seems that the market has finally begun to take a direction after trading in a range for about two weeks. Monday started a sharp sell off in SPY, opening at 94 and closing below the key 93 support level. Today we saw SPY briefly trade above 93 but quickly sell off to close the day at 91.66, breaking all … Read More
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