Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit. Aristotle One our trainees sent me an email over the weekend asking me to review … Read More
One Bad Trade
I made one bad trade today in VPRT. After the trade I shook my head and remarked to Steve how amateur my trade was. I was not pleased with myself as a trader. The result of the trade? A complete chop. A two point winner. I couldn’t agree more with Steve as he summarized my bad decision-making: “That could have … Read More
A market trading day
Today was a market trading day. For new and developing traders this is a very difficult trading day to master. Normally we focus on one or two stocks that are best for us and find set ups that make sense for us. On a day like today, a market trading day, you want to apply a different technique. Let’s discuss. … Read More
I am adding JNPR to my Banned List
In One Good Trade I wrote how I hated the way SNDK traded in the mid 2000’s. You could tell me what direction GS was headed and I still might not make money. Steve during his StockTwits TV broadcast called GS “one of the worst piece of $hit intraday trading stocks.” And he went to Wharton. During our SMB AM … Read More
Lessons and Levels from today’s trading session
Besides MM I really didn’t catch anything today. I paid for information on some important levels which perhaps will pay me tomorrow. I played for BRCM to trend above 38 and then 38.20 and then 38.50. But BRCM dropped out and never really drove. I have set an alert of above 38.80 for BRCM. If it holds above here we … Read More
The First Step to Trading Success
MICHAEL BELLAFIORE Becoming familiar with a chart pattern is step one, says Mike Bellafiore, but from there, traders continue on a journey where they must always learn, adjust, and strive to hone their craft. Bella One Good Trade
Why I was leaning short (RVBD)
RVBD opened and held the 32 bid after gapping down miserably on the open. It popped almost two points from 32 and then was dominated by an aggressive seller(s). As RVBD made a pass at the 32 level from where it popped on the Open I got long again. This is one of our favorite technical set ups. But when … Read More
Closer Than You Think to Being One Good Trader
I received an interesting trade review from a new trader: a.m. trading I was very hesitant. my main ideas played out and I missed them IBM and MOS very frustrating for the rest of the day. when I was on the right side I sold too early. ended the morning slightly positive. told myself I prob shouldnt trade the rest … Read More