In a mentee’s review yesterday he made this interesting point: – I really could have done a better job of taking advantage of the last move into the close.. I was too focused on that SFLY that wasn’t really moving away from prices and didn’t shop around enough for some longs for the close While waiting at the bar for … Read More
So You Say You Want to Be a Pro Trader
I’m the guy you pitch as to why you should be hired for your “dream job” as a trader. This whole trader recruiting thing is inverted. You should not be pitching me. My desk should be pitching you. But you need to do some work before this can happen. Like start developing a track record now! During a recent interview … Read More
Using Prior Days’ Price Action–NFLX
Prior to the Open of Friday’s shortened trading session there was not much in the way of fresh news catalysts. So my first trading choices were second and third day plays. For those of you who are new to the SMB Blog you can use the “search” feature on the blog to review posts explaining how and why we trade … Read More
Traders Ask: Is it Better to Trade Stocks in Play or a Basket?
Question: Greetings From The Great White North Bella, Just re-read One Good Trade again (it just keeps getting better) and I found myself asking the same question. Are we better to trade Stocks in Play that may be news to us but have momentum and/or should we be playing a basket of names which we have become familiar with. By … Read More
How you brand the best set ups in your trading mind
When I see mentees working hard and showing promise I ask them to send me a daily recap. Below is an excerpt from one such review: Overall I had an alright day, it could have been a lot better. I traded a few stocks very well and a few stocks a should not have been in at all, I was … Read More
This New Trader is Improving
I should facetiously title this post “The glamorous life of a managing partner”. Yesterday Leo, who runs our active trader college program, and I drove eight hours back and forth to Bentley U, arrived back home at 1am, woke up at 5AM to scoot to the airport for a 6:50AM flight to Vegas. We had a blast at Bentley … Read More
Start Slow? Start Fast?
Last night I had drinks and apps with two experienced traders. After some catching up we got into a discussion/argument about the best way to start your trading career. It has been written here that no one ought to trade 200 shares live until they can make money with 100 shares. You are the worst you will be as a … Read More
A path to profitability
“If I increase my stop then I will start making money.” This just might be the single silliest thing I have ever heard a trader say. No “trading is in my genes” is. I will offer a path to profitability to consider. Look there is no one right way to achieve your goal but there are definitely wrong paths. Adding … Read More