IBM drove on the open after gapping up. At 52 week highs if you did not pay right on the open you were left to watch a 2 point upmove. I am sure many passed on the first ticks opening drive play. Flagging at 180.50 offered our easiest trade which I am sure many did not miss. At 52 week … Read More
How I Will Trade This Earnings Season
I have increased some one-one-one mentoring with a few developing traders. Their goal? To make a significant leap forward during this earnings season. During our discussions my goal is to help them limit their trading to their best setups. Here’s a thought that just keeps coming back to me. The market offers 100 windows that you can look into. My … Read More
Where the Psychology Changed
There are so many indicators one can use for technical analysis. If you spend some time with experienced traders many will tell you they use very few indicators to none. Hmm. The new and developing trader would be surprised at how clean most charts look for many successful traders. Steve uses very few indicators. Adam is a huge proponent of … Read More
Why the market didn’t roar this week
Wednesday after the Close we brought our traders into our training room and started talking about a game plan above SPY 134. A profitable trader is first a prepared trader. The market was consolidating close to this level. Above and the market might run. Towards the conclusion of our meeting I asked all of our traders to send to each … Read More
Win a Signed Copy of One Good Trade
Monday, June 20th, 2011 Today through the market close on Friday, visit SMB Capital’s Facebook page and “Like Us” to be entered into a drawing to win a signed copy of Mike Bellafiore’sOne Good Trade.
You are trading patterns not opinions
I was hanging inside my office working on a new business idea for retail traders when the email below hit my inbox. I spent some time showing our new traders how you trade P in Real-Time, which was the catalyst for this ping. After P failed to hold 23 and then for the first time all AM held the offer … Read More
One Good Trade Excerpts: Power Hour Stock Insights
Excerpts by Flurin Coretti from One Good Trade. ❧Trading is about skill development and discipline. Unfortunately, too many people think trading is just about making predictions, loading up, and being “the man” by holding stocks. ❧Being a consistently profitable trader is about doing the thousand little things every day—like proper preparation—that impact your P/L. ❧A great trader is an elite … Read More
Should this trader quit?
I received this email recently: Hello. This is a retail level trader with almost 3 years of trading experience in s&p mini futures. During those grueling 3 years, I’ve suffered nearly 25k in losses, most during the 2008 crash where emotions got the best of me. Since then, I have learned the importance of risk management and now I am at a point where my … Read More