There are so many indicators one can use for technical analysis. If you spend some time with experienced traders many will tell you they use very few indicators to none. Hmm. The new and developing trader would be surprised at how clean most charts look for many successful traders. Steve uses very few indicators. Adam is a huge proponent of … Read More
The unprofessional summer trader
This is the time when all the tweets and blogs start about hitting the links, or grabbing drinks early, or heading for the beach. If you have ever traded prop at a big firm you will see seats empty on Friday after 1pm. There will be many who do not come back from lunch on a Thursday. Missed Mondays and long … Read More
Traders Ask: Was this One Good Trade ($DV)?
Mike, I have a quick question today about a setup I was in… After a great run-up from this AM and yesterday the education stocks were starting to come back to life and making fresh intra-day lows (around 11AM)… I saw APOL, STRA and ESI making these intra-day lows (the spys were making lows as well)… while cycling through the … Read More
Inside the prop desk: Recovering from a big rip
Guest Blog by D. Brown Fast forward to the end of May, 2011. The summer is quickly approaching, the weather is beautiful in NYC, my graduation is finally here, and my life as a trader is just beginning. I’ve been trading w/ SMB for a month now, and I’m up roughly 5k in the first 18 days. Awesome! Or so … Read More
What do you need to fix first about yourself before you can become a better trader?
I was at dinner last night with a highly successful manager. She had just landed the top account at her multi-billiondollar financial firm. Over fettuccine noodles and chicken Pad Thai she continued that the firm contemporaneously placed her into a special training program for their star performers. Her boss warned that the program would be difficult, expose her weaknesses and uncover uncomfortable things about … Read More
A signal from the tape (RIMM)
With all things algos these days stocks rarely repeat for size at the same price. Instead of 41.70 just repeating on the offer. There is some at 70c, some at 71c, some at 73c, some at 77c as the sell algo lifts to see if the buyer will pay higher. So when find a seller selling at the same price, … Read More
Traders Ask: How do you play a breakout trade?
Hello Mike, An appreciative follower here. There’s this question that has been floating in my head. I’m reaching out to you for abetter answer. When do you pay for breakout plays out of a range or through a key resistance? Do you: 1. get in earlier at a better price anticipating the breakout 2. hit the offer as soon as the key … Read More
A trading day ruined
Ever go from having your best day ever to negative? Below is a recap of one such experience. Big Baby did a wonderful job of analyzing his trades from yesterday. He was frustrated that he went from his best day ever to negative. I thought we would share his post trade review. The only way to get better as … Read More