Hi Mike, September 1st 2013 makes it three years that I have been trading full time. I’m writing this email to seek your experienced trader’s counsel. I don’t have any job and I’ve been thinking about my experiences trading, which for the most part have left me bitter. You must be wondering how I’m still continuing to trade after three … Read More
Do Not Sell This Position
Hi Mike, First of all I would like to thank you for writing The Playbook! I’m not quite through it, but I’m already finding it extremely helpful and valuable. I wanted to share some challenges i am currently having regarding a situation where there is conflict between certain rules I follow for establishing when to close a position and one … Read More
From The PlayBook: Reasons2Sell
Here’s our latest excerpt from The PlayBook. It comes from Chapter 3: “The Day Knight Capital Almost Fell (A Support Play)”. The chapter begins with a question: “How Do You Know When to Sell a Winning Position?” Dear Mike, I recently read One Good Trade and found it a quality read relative to all other books I’ve read. It has been … Read More
Using ATR With Your Trading
Hi Mike, I just spent the entire weekend finishing reading The Playbook and I just wanted to grovel at your feet a little bit. I loved it. OGT was my favorite trading book ever, and this book is an absolutely perfect companion. As a lonely trader doing it on my own, every time I read one of your books I … Read More
How Do I Take the Next Step as a Trader?
Mike, I know you’ve heard it many times. It’s like telling a model that they’re attractive. 🙂 But, you guys put out some very informational items. Every other day, I listen to “How badly do you want to be successful?” Very inspirational! The one thing I suggest is writing something on the level of knowing when to increase your size. … Read More
What is the Best Market to Start With?
As a beginning trader, is there a market that is best to start with? @mikebellafiore I was asked this question during a recent Webinar “Trading Fundamentals: Things Great Traders Do and Never Do”. In a perfect world I like the idea of new traders trying all products and multiple time frames before choosing one. I am not sure this is realistic … Read More
Is This Trader Overtrading?
Q: Mike – so since scalping is dead, can you explain how Shark has hundreds of trades a day? (What I saw in the Playbook from his results on SMB ChopTracker)? Is it basically he takes a low risk entry and then is just adding and subtracting to his position with the ebbs and flows of the tape? Just curious so I … Read More
Can You Overthink While Trading?
The cycles of trading. Do we get worse sometimes if we overthink and get too caught up in things? @mikebellafiore I was asked this question during a recent Webinar “Trading Fundamentals: Things Great Traders Do and Never Do”. Gr8 question! Yes, traders can over-think. I sat in our conference room yesterday with one of our brightest traders who has been … Read More