Thank you all for your suggestions for my book title. There is so much more that goes into writing a book than writing the book. Choosing the best title is one such example. BTW if anyone has not figured out my title yet see the blog title above. The working title had been The Way of the Prop Trader: Tools … Read More
Piker High Bid and STJ (From the Mailbag)
I received this comment about my last blog Second Day Play- STJ. Let’s discuss. Bella Very interesting and insightful blog post, i have some questions 1.Why did you not get long as mr.piker high bid stepped up, does that not indicate that break above 34.00 is more likely? 2.like you said the upper range from the prior day is 34.25, … Read More
STJ- Second Day Play
Yesterday I traded STJ for most of the day. I learned that 33.60, 34.25, and 34 were important levels. Essentially STJ traded in a range for most of the afternoon yesterday 33.75-34.25. Then into the Close STJ broke down and traded down to 33. So what can we learn from yesterday to help us today? I have a play for … Read More
From the Mailbag – Part 4
I received this email from Reader Josh. This is a very interesting dilemma he finds himself in as a new trader. For SMB Readers do you have any advice to offer Reader Josh? Hello Bella, I believe my question is geared towards adjustments. I am 25 years old. I have been playing poker and making money in it since 2004 … Read More
Trading AND…
IEL sits at his trading station staring at his screens ready to pounce. GMan sits at his much larger trading station (he is the Head Trader) watching every tick in the market, with his hands on his keyboard. Scuba sits patiently processing every bid and offer in ARNA (even though he is a Partner). And then some others trade AND … Read More
Generating Trading Ideas for Tomorrow
Into the Close I recognized that one of the stocks I was long was stronger than all the others. That was DNDN, which will now be the first stock I consider to trade as I prepare before the Open tomorrow. Let’s discuss. Into the Close I was long LVS, DRYS, AIG, and DNDN. SPY broke from its tight range and started an upmove … Read More
Your Job is Not to Make Money
What do all of these things have in common? We took down our leaderboard at our firm a few months ago. Today one of our traders left early because he got stopped out. The other day I was interviewing a candidate for our desk who defined a good trading day by how much he made or lost. What is your … Read More
Need Some More Time Please
OK so we got some weakness with the market today. Are we starting the leg down that most have been predicting since SPY 83 (oops!). Was the news about back to school sales the catalyst? China? Rising foreclosures? The dollar? Unemployment? Government Debt? Certainly the bears have a multitude of fundamental reasons to support their thesis for a downmove. And … Read More