I received this review from a really solid young trader. There are two important trading lessons in his thoughts. Can you spot them? Biggest regret today: not using the information I collected on ITMN as a short. I was watching above 17, I had a long bias, but I chose not to buy it because of what I saw. The … Read More
Are You an Overconfident Trader?
Hi Mike, I’ve been trading awhile and I’m certainly getting better at it. I’ve noticed a recurring problem. Whenever I get a good streak going and I start feeling like I’m getting the hang of it, I hit a losing streak. Sometimes it’s a week or two of gains everyday and then a slow meltdown to give it back. I … Read More
Do not spend time mastering the shakeouts (VLO)
Hey Mike, Hope all is going well since we last spoke! I had a quick question for you that I knew you would be able to answer with ease with regard to watching the tape and getting shaken out. I’ve been trading on the LightSpeed simulator to better prepare myself for this summer when I take part in the 5-week training … Read More
March Trading Madness
I received this email from an SMB trader after the close today: After watching some of the VCU v. Drexel college basketball game last night I wanted to take the VCU head coach’s mantra of “Aggressive, Confident, Loose” to trading. I was more aggressive than usual with my size in the plays I was involved in. However, I was doing … Read More
I feel like I will never make money again
I don’t know what’s wrong with me the last three days but I am not trading up to par. It’s much more eye opening when the market is actually decent and others around me are making money. I’m disappointed (to say the least) by today but I didn’t do anything fundamentally wrong at first. I even made money initially. I … Read More
Make this losing trade (YUM)
Yesterday in YUM I made One Good Trade which was One Losing Trading. On the open YUM settled in a battle 64.80 by 65. Young Leo called out the fight and I took notice. Also YUM was In Play showing premarket strength and gapping up. YUM broke above the opening range battle and shot up to 65.70. This was a … Read More
The Value Added Tweet
I have been on Twitter for for almost three years and have tweeted about 2,000 times. I have found Twitter to be an extension of my personality for the most part. I tend not to offer ideas unless they are well thought out and therefore feel comfortable sharing them with others. I am amazed at the almost stream of consciousness … Read More
Traders Ask: Did I Give Back Too Much of My Open Profit?
Hi Mike, I haven’t hit you up for a trading question in awhile, hoping you have a couple minutes to share your thoughts on a trading issue I’m wrestling with. I am trading only 100 share positions, trying to gain consistency in my day to day efforts before increasing size. I’m wondering how you teach your new traders to manage … Read More