My book One Good Trade is sold out. This took three weeks. A rush reprint will be underway soon. Save a few exceptions, it is now only available on the Kindle. I was told, “This has never happened before with a trading book.” This is a social media tale. I considered hiring a PR firm to rep my book before … Read More
Traders Ask: How Do You Record Your Trading Screens?
Reader John asked: Mike, I just got done reading your book and I loved it. I thought it was the best trading book I have read. I have been a full time prop trader for 6yrs. and read a lot of books and found yours extremely valuable and enjoyable. Your book spoke directly to me as a very active prop … Read More
Shorting MDT
We make trading decisions based upon three factors: intraday fundamentals, Reading the Tape, Technical Analysis. I traded MDT today using all three to start two shorts. These are trades that if I made 1000 times I would profit. Intraday Fundamentals We trade stocks with fresh news. Today we had new news with MDT: Co issues downside guidance for FY11, sees … Read More
HPQ BIDU and some JAZZ
Well its slow out there. This AM there were only a few stocks with fresh news. JAZZ was one of them. HPQ and the proposal of them potentially buying PAR was another. So I traded both. As I write I am also short BIDU. Let me share my thinking. JAZZ From Briefing.com: Jazz Pharma shares trading 30% lower following Friday’s … Read More
Let Coach Ryan Be Coach Ryan
Coach Dungy’s criticism of Coach Ryan’s F bombs is silly. Great coaches are genuine, communicate well, set a standard of intensity, and teach their players that there is nothing the team cannot do together. This is exactly what Coach Ryan is doing with his language. There is more than one way to be a great coach. John Wooden never swore … Read More
My CREE Trade
About two hours ago I tweeted: $CREE near 60 huge R level @biggercapital responded: would like to hear your what if scenarios RT @smbcapital: $CREE near 60 huge R level And then came @readerfinance: would like to hear your what if scenarios RT @smbcapital: $CREE near 60 huge R level: would like to hear your what… http://bit.ly/dodYtu At SMB we … Read More
Traders Ask: Was that the Real Trade?
Yesterday I wrote a blog post stressing the importance of making the real trades intraday. One of our very experienced traders sent me this question: i traded JWN today… why did you want to buy above 32 when it had just closed the gap and showed no signs of holding support? to me, that’s a trade that flies in the … Read More
Where is the Real Trade?
As intraday traders we can be guilty of overtrading. Before the open and then intraday I ask myself: where is the real trade? SPY today? The real trade was to short near 109. You could make up other trades but that was the real trade. JWN? The real trade was buying a pullback when it spiked above the 32 level … Read More