I received this email from a prop trader: I’m very disappointed with the way I traded today. I had two more paragraphs written here explaining some potential causes for my under performance. When I started to write the third I realized how simple it all is. To summarize those thoughts, I get worked up and anxious when trading on the … Read More
Is bad really bad?
Over the past few years I have noticed some good coming out of what I first thought was all bad. When I lost my mom there was at first only loss, but then I recognized some good. When my dad had a stroke it was at first so horrible, but then some good. When we lost a mess of traders … Read More
Why FB was a long
I stress for our traders to trade with the trend. We teach generally that if a stock is in a clear downtrend to follow that trend. There are exceptions. FB today was one such exception. After the close I pinged to our traders: Why would it have been correct to get long FB today even though it has been in … 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
This is a trader’s fault
I received this trading recap from an SMB Trader: I love these types of days where I can keep my tickets really low and keep 95% of what i gross. For some reason when I trade from home, i don’t over trade and am able to keep my tickets really low. maybe because i have other responsibilities when i stay home like … Read More
Five Suggestions for Traders
I was in my office today working on my next book The PlayBook when I got pinged with this from the trading community: Mike, what do you do when you’re a practicing trader, working, saving, and studying to begin trading live, and you feel your motivation begin to peter out. You have this goal but the road there seems like … 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