Tiger Woods won Bay Hill for the second consecutive year with a dramatic putt on the 18th green. It is a privilege to watch him work. We can all learn a great deal as traders from him. On “Pardon the Interruption” today an intro leading into this story asked- How does he do it? Well below is how he does … Read More
Hard Work Pays Off
We asked about 8-10 of our core traders to work on their skill development during the past two months. These are guys who had been trading live anywhere from 8 to 16 months. They had all previously demonstrated a high level of profitability. But the market environment changed and they had to adapt. They had developed some bad habits because … Read More
Survive and Advance
I heard on the Street that many day traders struggled in December and January. I know there were some on our desk who were disappointed with their results. Over the years I have been offered data from the market that I was not going to succeed as a trader. I was offered this data when I first started (starting … Read More
Self Aware
Before the Open I was pissed. As a partner sometimes I miss the days when I could just roll into the office and trade. I look forward to the day when the guys we teach are running the desk. And I can just come in and trade. And I hope I get to sit all the way in a back … Read More
I Am Not Making the Same Mistake Today
As traders we search for repeating patterns. The last two trading days have offered the same pattern. Levels were violated into the Close and the market trended into the Close. Financials could be bought or sold in the direction of the trend and held into the Close. Let’s discuss. Yesterday into the Close SPY traded between 81.20 and 81.50. We … Read More
Sometimes It’s Just That Easy
Often intraday traders struggle understanding the difference between a Trade to Hold and a short term trade. Most trades that we make are short term trades. But every intraday trader needs Trades to Hold. And you ought to have a list of these trades that are best FOR YOU. Let me offer a suggestion of a Trade to Hold for … Read More
A Traders’ Market
We spend a lot of time on our prop desk focusing on skill development. Trading intraday requires a certain set of skills that take some time to acquire. If you are given good training and work very hard you will develop a set of skills in 6 to 12 months that will allow you to make money in all market … Read More
Getting Back In
Today a new trader asked me a question about getting back in. This new trader got long MS in front of a support level identified by Steve during our AM Meeting. The support level didn’t hold, this new trader exited, and then MS spiked. Sound familiar? Anyway, I was pulled aside to offer some suggestions how to get back into … Read More