It’s time to move on, time to get going What lies ahead, I have no way of knowing But under my feet, baby, grass is growing It’s time to move on, it’s time to get going Tom Petty Bella, Yesterday I got absolutely chopped up in JPM. I could not believe how much I lost in such a short amount … Read More
This is What a Significant Day of Trading Looks Like
Sent to me from an SMB Trader after the close. Hi Bella, A truly significant day for me, in terms of personal achievements. 1) I was never as big as I played today Last night I was very pissed off about myself. I saw so many occasions where I should have been much bigger but I didn’t. I was being a wuss. … Read More
What behavior should a prop firm reward?
After the close one day this week I encouraged our traders to CALL OUT awesome potential trading opportunities. Shark called out SXCI into one close and the firm and individual traders caught a very profitable trade. I got our Floor Manager into ILMN for an opening drive play at the start of the week. He sent me an email of … Read More
A hint to make more this earnings season
After the close SMB met in its training room for a talk led by me. I haven’t given many talks of late but I thought the desk was due for one after my observations of their trading. It is earnings season. There are tricks to scoring. And there are things traders do to harm their results. Trying to hard is … Read More
Should I bench this trader?
A few weeks ago a developing trader on our desk sent me his trading review for the day. He had traded at least 15 stocks and was negative in nearly all of them. I responded: There is no reason for you to trade more than 8 stocks. Set that as a rule. You have to see the big picture and … Read More
A Quick Lesson in Tape Reading (ESRX)
I was long ESRX. It had gapped up on positive news. The first moves on the tape in the stock were positive. I liked the move above the open high. I liked the way it moved away from prices. I liked that above 56.50 provided a clear entry if it held above. The idea was shared on SMB Real Time: … Read More
I See Momentum Buying
I settled at my trading station wondering what to trade on this Open. RHT? BBY? AMLN? There had not yet been a price spike on the SMB Radar in health care yet but I would later ask what and where to buy for that sector. BBY showed some consistent selling at 25 so I scalped that down to 24.60 on … Read More
The Market Discriminates Against the Over-thinker and Ill-prepared
Hi Mike, Never wrote you, thought I would try. Had a question. In much of what I see, read, etc., there seems to be a focus there on recruitment and somewhat of a preference to younger people as new traders on your prop desk. PLEASE note that I am not looking for an age discrimination claim here, lol. It’s just … Read More