Developing traders overvalue being “right” with their trades. Many mistakenly believe that you have to be right with your thesis to make money in a trade. Oh so young, so naive 🙂 Consistently profitable, experienced traders can make money when they are right and when they are wrong. Heads I win. Tails I win. A spot on example of … Read More
LONG OR SHORT (FUQI)?
FUQI is a perfect example of how we must make trades our own. How we must develop our own playbook. I am short FUQI from 12.60. The intraday fundamentals are so compelling TO ME that I am playing FUQI to finish near the low. My win rate is probably 10 percent for such a set up. It … Read More
GOALS ACHIEVED
I received this email from Reader David: Good call Bella! Things are really starting to click for me, letting some plays work over the course of 1-3 days has been where I have been making most of my $. IMAX was a good example last week, i caught 4 points over the course of a week.And this MGM I got … Read More
Your Win Rate
I received the following email from reader Ed: Hi Mike, I hope you’re doing great and all is well by you. I was wondering if I could run something past you if you don’t mind. I was the trader that Dr. Brett mentioned in his March 14 article, “the mistakes traders make.” I was wondering if you would mind telling … Read More
THE NOTHING TRADE
Bella discusses how RIMM behaved after it cleared an important resistance level from the prior day
The Addition
I know of no more encouraging fact than the unquestionable ability of man to elevate his life by conscious endeavor. Henry David Thoreau SMB has a developing trader desperate to improve. In a merciless 2009 he traded very well comparatively. This quest to improve is not unlike that of an unprofitable trader hungry to just start breaking even. This journey is … Read More
An A Trade or B Trade?
Bella asks readers whether this trade in LMT is an A setup or a B setup.
Making a Trading Decision
Bella discusses how he used three factors, Reading the Tape, Intraday Fundamentals, and Technicals to make a trading decision in RIMM today.