When was the last time you got a paper cut? Do you remember? I’d bet you struggle to come up with the time and place. Exactly, you forgot. Keep your losses like paper cuts so you can forget about them and continue working. Paper cut losses are simple, effective and essential. Novice intraday traders need to understand the importance of taking paper cut … Read More
Traders Ask: How do you find levels “you love”?
Hi Mr. Bellafiore, I read your book and have been a daily reader of the blog ever since. I especially appreciate your and Adam Grimes’s posts. I trade the e-mini (ES) but would like to trade more stocks if I can figure it out. The recent post on execution was pointed. I suspect the difference in the trader who was shaken … Read More
The Good Trading Stress
When “professional stress” is your problem you are leaving the ranks of amateurs. Are you a stressed out day trader? I am and I couldn’t be happier. I have worked long hours to get to this point. I have spent literally tens of thousands of hours at the screen to attain this stress. Sounds crazy? I don’t think so. A … Read More
Give Yourself Time
Got back from a run. Yeah, this Georgia Tech campus is very nice. Had a mocha frappachino from Starbucks (I do not even know what that is and I unordered the size three times) to help with my 4am wake up call. Walked the room for my presentation. I like to get a feel for the room and see myself … Read More
Execution, Execution, Execution (BIIB)
Trader A sits looking at the consolidation in BIIB. We have some nice consolidation. BIIB is above the highs from the first day gap up. There is no resistance above in the near term. Should I pay 80? Trader B sits looking at the consolidation in BIIB. We have some nice consolidation. BIIB is above the highs from the first … Read More
Kicking Around On a Piece of Ground: Embrace Trading Success in Your Hometown
“Ticking away the moments that make up a dull day You fritter and waste the hours in an offhand way. Kicking around on a piece of ground in your home town Waiting for someone or something to show you the way.” Makes me wonder if someone from Pink Floyd tried being a remote trader. Trading from home alone is both … Read More
What are your trades in MON? (The answers)
Non-experienced traders should not be trading MON during a conference call. Experienced traders not listening to the conference call should not be trading during the conference call. Experienced traders who do not know a great deal about MON should not be trading this during the conference call. So this was a bit of a trick question (couldn’t fool @thearmotrader). But … Read More
Traders Ask- GD Trading
Hi Mike, I am hoping for your insight on a trade I’m making today. My uncertainty in this trade it typical of what I find in a lot of my trades. I am trading GD as a second day play. My thinking is that the sell-off yesterday was overdone and that it ultimately held important support at 73. I was looking … Read More