You see the chart pattern or play but the action before does count. Take a stock that trades down off the open then consolidates forming a nice support line. This line breaks so the chart says sell it short. Seems like a high probability trade right? But what if its 12:30 pm? Do you think the fact that its lunch … Read More
How to find the best stocks into the close
Good afternoon Mr. Bellafiore, I hope this message finds you well. I received your email by attending the event you spoke at in DC (which was really Rockville, MD). I read your blog everyday & find it extremely helpfull for my trading. I also completed the SMB Foundation ealiear this year. That’s an incredible program! The reason I’m reaching out … Read More
Getting in your own way (HPQ and GS)
I received a very good analysis of a trader’s HPQ trading after the close. Let’s take a look and then discuss. HPQ – Considering I was in the opening drive, I definitely should have made money in HPQ today. After fees/etc. I’m sure I was down in it. I bought some (but not enough) above the 24.30-35 area. I got … Read More
Find an ATM and Use It!!
Do you have a stock that due to both technical and fundamental reasons has traded in pretty much one direction for weeks or months? I do…for the last few months it’s RIMM. I have RIMM on my screen everyday and I know exactly how it feels, moves and reacts. I play it virtually every day and use it like my … Read More
Happy Buddha Says
An email from a new trader: Hi Bella, My Weekly Goal: 1. Being patient to wait for great setups to get aggressive 2. Trade 200 shares responsibly on excellent R/R setups 3. Go over entire Reading The Tape lectures again 4. Recognize bigger picture and trade stocks that move away from prices 5. Get more well-rounded in this new market … Read More
Discipline, Focus and Patience
The above three words have been written about many times by Bella and Steve and you have read about them in countless other places. Becoming consistently profitable in day trading requires the knowledge and use of all three! I would like to give a simple thought from my trading yesterday intertwining the three principles… At one point yesterday if you … Read More
You need to make more right now
A veteran trader stood in my office, mind racing, frustrated at his results from the past week. “You know Mike during 08 I made a lot of money getting back into trading after being away from the game. I told myself that they next great trading opportunity I wanted to be on a trading desk making real money. I am … Read More
The market requires a tuition to participate
I have had the pleasure of getting to know Michael Martin over the past few years. Hands down one of my favorite trading educators on the Street. And it is so entertaining when he shares his stories about other great traders who he knows, has been mentored by or has read about. He is a Wikipedia of trading anecdotes. I … Read More