Bella Talks about his First Steps in Trading
Wednesday June 22nd, 2011 Recently featured in StockTwit’s highly anticpated book The Stocktwits Edge, Mike discusses his very first days as a novice trader: “When I first started trading in the late 1990’s, you sat behind an experienced trader for five days. As we chuckle remembering, you learned through osmosis. You asked questions when they appeared to have time, which … Read More
How I would have started my prop firm differently
Mike, Firstly, I just wanted to thank you from the outset for your ongoing work and contribution to the trading community. I have read your book, I read your posts daily and I admire greatly the philosophy of your firm SMB Capital. Your firm really is the pioneer of trading education and skill development for prop traders. I hope you realize … Read More
Forex trade of the week
A key point in the EUR/CHF trade was when the price fractured the areas of support, which are identified by the Fibonacci retracement at level .618 % at an approximate price of 1.2800. Once those areas have been breached, we expect the trend to be lower than the previous minimums, but in turn, the price increases producing up trends. This … Read More
Why Am I Getting Stopped Out More? (Part IV)
During Part I, Part II, and Part III of this series we identified a new algo on the desks of more traders that may be causing us to get stopped out more. For Part IV let’s offer some solutions. Some ideas from SMB Readers: Trade instruments wich are more liquid or trade on a higher timeframe. Cheers, Markus This is an … Read More
Traders Ask; Position Size of 1/3?
Question: I basically swing trade. I always try to put on a position in 1/3’s. How does that work daytrading? Is there time to do a position that way? I like to have another good entry point to add to a trade. How is that possible in a daytrade. Maybe I just am not used to that fast of a … Read More
Why I am Getting Stopped Out More? (Part II)
Yesterday we explained a trading algorithim on more desks that may explain why swing traders, retail traders, long-term investors/traders are getting stopped out more on their positions. Today we will explain another part to the algorithm that eliminates one possible adjustment. So as we discussed, say we are long at 30 with a stop at 29.84. One way to combat the algorithm that is … Read More
Traders Ask: How Do You Determine Your Risk/Reward?
Hi Mike, Just finishing your book One Good Trade with this take away. I am determined to master the skill of ‘reading the tape’, believing that to be the golden key to my future success as an intraday trader. Thanks for infusing me with new motivation. One question. I’m a little confused about how to actually measure the risk/ reward going … Read More