On Friday the news hit of a fire on a Boeing 787. Yes, that same plane that BA was forced to take out of service because of lithium battery fires during flight. I don’t know about you but I prefer my flights without fires on board. BA tweaked and fixed the battery issue and the 787s were back in flight. … Read More
The 3PM Bull Basket
I was sitting on our trading desk looking at SPY this Friday. I felt a very strange sense of déjà vu that it was 1998, the year I was relative strength trading semi-conductor stocks, and MSFT, INTL, DELL. This was before the Internet Boom but when these sectors were red hot. At 3PM we would add to our strongest-acting stocks … Read More
Real Companies Get Bought When They Gap Down… Except for UPS
If you sit near me on our trading desk you have heard me say, “In a strong market real companies get bought.” What I mean is when a real company gaps down, in a strong market, it is likely to find a big buyer and find a way to trade higher. But then there was UPS on Friday. This was … Read More
A Quant Test on a Trading Thesis
Hi Mike, I was halfway through typing my question when I remembered a blog post similar to my original question: http://www.smbtraining.com/blog/how-do-you-determine-how-far-stock-can-move I was wondering if you’ve found any statistical information by back-testing the above since then. For me personally, I first find important support/resistance levels on a stock & after that do I then consider the likelihood of those support/resistance … Read More
How Do I Stay Big for the Real Move?
Dear Bella, I can not wait for The Playbook! I started “eating” everything on the SMB Blog six months ago and went though key haha moments thanks to what I learnt, which suddenly made me a lot more profitable (kind of wasted 2 years with useless teachers). So I started to build a playbook ( my Iphoto app became full … Read More
Should I Run My Trading Strategy Live?
Hi Bella, I was in the same position for most of last year and early this year, trying to work out what it is I need to be before I could consider myself as a solid trader. Now I find myself in another mental predicament. Which is when do you start believing that as a trader you have found the … Read More
Are You Revenge Trading?
Hello Mike, I have seen and read many of your posts on the site where you offer traders advice and was wondering if you can offer me some advice. Little bit about me: I started trading 18 months with very little capital and was in a up-one-day/ down-next-day mode on my trading for over a year. Until about four to … Read More
What Does It Feel Like to Be a Pro Trader?
Good morning Mike, Happy Fourth of July to you and the team! Mike, I re-read your first book, One Good Trade and I really tried to focus on your writings and comments about trading psychology, and getting into the mindset of a professional trader. What I would like to know is this: when you get up in the morning on … Read More