Silver has been on a tear. Yesterday during our AM meeting we discussed some prices that offer excellent risk/reward opportunities. Experienced traders know when something is about to happen. When a stock will really move off of a price. We might not know whether the stock will go up or down. But we know this is the moment. This is … Read More
Traders Ask: What is your deal with overnights?
Hello Bella, My name is Jonathan, and I am a day trader and fan of your SMB Blog and Twitter feeds. I have a trading question for you that I am confident you can help me with; you guys have some serious experience. I understand your style of trading sometimes involves holding day-trade-intended setup overnight. I notice myself, several times, … Read More
When to Play Whack-A-Mole with a Level
A few days ago I was leading a conference call of some remote day traders. One of the questions was: “How do you determine when to try a trade more than once at a level”? I simply answered: “When the risk/reward says it’s okay.” Playing whack-a mole at a level can be frustrating and you have to be careful that you … Read More
Day Traders Switch It Up Like A Pro
Changing your biases in day trading is a hard necessity. Switching sides in a trade is a skill that every day trader must build. There are two distinct levels of this skill, novice and advanced. An up and coming young day trader Jerry, @TheArmoTrader, penned a nice blog post on switching sides: http://jerrykhachoyan.com/. Jerry did a great job switching sides … Read More
Execution Trading Skill
Trading is a skill. Gaining trading skill takes time. Today in JNJ and HAL execution trading skill was essential. Let’s quickly discuss two trades to illustrate this important trading point. JNJ was in play. Amazing Andrew was hawking the 62.10 level as intraday support. Something about the premarket. JNJ opened and traded down towards his support level. 14c held the … Read More
NYC Style Salsa Dancing and Tape Reading
LOL …. Salsa dancing and tape reading? Am I serious? Have I lost my mind? Grab your dance shoes I’m serious. NYC style salsa dancers believe they are the best salsa dancers in the world. The style they dance is called On2. The On2 style allows for the performance of intricate turns and steps within a small space. The steps … Read More
Don’t Worry, Be Happy… Take The Loss
When was the last time you got a paper cut? Do you remember? I’d bet you struggle to come up with the time and place. Exactly, you forgot. Keep your losses like paper cuts so you can forget about them and continue working. Paper cut losses are simple, effective and essential. Novice intraday traders need to understand the importance of taking paper cut … Read More
The Good Trading Stress
When “professional stress” is your problem you are leaving the ranks of amateurs. Are you a stressed out day trader? I am and I couldn’t be happier. I have worked long hours to get to this point. I have spent literally tens of thousands of hours at the screen to attain this stress. Sounds crazy? I don’t think so. A … Read More