Below is our second installment of the 2014 edition of The PlayBook Checkup with Bella, author of One Good Trade and The PlayBook. During these sessions a trade archived by a new trader from our desk will be reviewed by Bella. Attendance is free for SMBU Tools subscribers, who can also ask questions during the event. Watch this review of Trash to Treasure Swing Trade … Read More
Looking For An Oversold Bounce– $YRCW
YRCW reported disappointing earnings on Wednesday and gapped lower. It moved very well off of the previous S/R levels 22 & 25 (see chart below). On Friday it traded below 22 as selling began to pick up again and it closed at 18 which corresponds with its pivot low from May & June. The large surge in volume as it … Read More
The Round Tripper
It is not every day that you are able to catch a trend in both directions in a stock. FB has been a short term trader’s delight for the past five trading days. Media coverage hit a fever pitch today with FB tagging its otherwise meaningless “IPO price” of $38. The fact that it has been moving higher since last … Read More
Should Short Term Traders Consider Fundamentals–Part II
In Part I of this series I discussed whether understanding the news could help short term traders limit their risk on overnight positions. Today’s post discusses whether understanding the news gives a short term trader a possible edge in determining profit targets and when to exit an intraday position. As examples I will use two trades that Sammy, an SMB … Read More
Using The Tape: $PRGO
Reading the tape is an essential skill for actively day trading. The tape, also known as the time and sales window, shows the trader important information about order flow. It is a stream of data on price and volume, which are two important criteria for intra-day trading decisions . Tape reading takes time to learn and takes practice to understand … Read More
Mobile Trading: It’s Easy! (Start Running Now)
A forex broker actually sent me this message, I added the part in parenthesis. Now, after reading this statement, what comes to mind? Are you imagining pressing some buttons on your smart phone from the 18th hole (I’m writing like I know something about golf) and smiling because you just made a thousand? Sounds nice right? Many forex brokers today … Read More
Forex: Too Much Information
Ever been in one of those conversations with a friend who doesn’t know how to filter his story and includes the kind of detail about a hot date that you really didn’t need to know? We all have. Your friend just painted a visual picture of details that not only provides absolutely no value to you whatsoever, but can even … Read More
Trader Disney Land
Hey Mike, I recently blew my profits gain from the past 3 months in one stubborn trade. And not I dare not go in again as I fear I could be wrong again and lost money. My system was right but my emotions was burnt. This is not the first time I lost a trade but somehow I couldn’t pick … Read More