BIDU came off from 73.30ish after a gap open. 72.50 offered resistance on the tape. I started a small short. BIDU came off another point. But then things got even more interesting……. 72.50 was a level that we spotted on the tape. And BIDU traded off another point from this weakness and resistance level we spotted on the tape. But … Read More
I Am Just Trying to Get Better
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Sharing Your Best Trading Set Ups
A few months ago we were talking with Dr. Steenbarger about some improvements we could make to our training program. We decided, through his guidance, to add a new Tradecast, or review session, where we shared the best trading set ups from ALL of our traders with ALL of our traders. Well, why? Isn’t it true that traders have … Read More
Readers Share: Are You Ready to Trade Professionally?
Reader Mike sent me this email: Bella, I know you will never remember me but you interviewed me about four years ago. During that interview you told me I was not ready to be a trader both financially and psychologically. I remember leaving that interview calling you many many not so nice things saying that I will show you. Since … Read More
My Mistake, Move On
Apparently I mistakenly left in some sell orders to short SY after the close. I headed to our training room for a Tradecast with our new traders and a guest visitor from CT. One of our traders poked his head in the door and said,”Bella you got filled in SY and are way out of the money.” I have heard … Read More
Where Are You Going?
Where are you going? Where do you go? Are you looking for answers to questions under the stars If along the way, you are growing weary You can rest with me until a brighter day, and you’re ok Dave Matthews Band, Where Are You Going? Yesterday I blogged that the market mainly traded between 115.60-160.30 SPY. Yes it spent some … Read More
Who Stole My Volatility?
Last night on Stocktwits TV I discussed some adjustments traders can make to trade increased volatility. The VIX had climbed from 18 to 40. Friday the VIX closed above 41. These are the markets short term traders crush. Today I walked in with the VIX off over 30 percent. It has rebounded nicely to close above 30. … Read More
Traders Ask: Consistency
“If I hadn’t made money some of the time I might have acquired market wisdom quicker.” — Jesse Livermore I received the following question from reader Angel: Hi Mike, I hope that my email finds you well. Trading has been going very well, and I’m very happy with my results. I love this business! Mike, I would like to suggest … Read More