An SMB Trader during his daily review wrote: Today was definitely a day to really pick your spots for initiating trades. I think for the most part I selected the right stocks today but just had trouble managing some of the trades namely in FB and FAST. Something I thought about today after getting stopped out of a FB short … Read More
Is bad really bad? (Part II)
Yesterday I wrote Is bad ready bad? Today we follow up on this idea by looking at the work of legendary traders/investors. Over the past few years I have noticed some good coming out of what I first thought was all bad. When I lost my mom there was at first only loss, but then I recognized some good. When … Read More
Is bad really bad?
Over the past few years I have noticed some good coming out of what I first thought was all bad. When I lost my mom there was at first only loss, but then I recognized some good. When my dad had a stroke it was at first so horrible, but then some good. When we lost a mess of traders … Read More
Why FB was a long
I stress for our traders to trade with the trend. We teach generally that if a stock is in a clear downtrend to follow that trend. There are exceptions. FB today was one such exception. After the close I pinged to our traders: Why would it have been correct to get long FB today even though it has been in … Read More
When The Price Action Changes–Facebook
Facebook had been an great swing short since Tuesday morning when it made a new post IPO low. It continued to make lower highs and lower lows. The definition of a “downtrend”. You were hard pressed to spot two consecutive green bars on the 15 minute chart and the few times that did occur there was very little volume and … Read More
Facebook Friday And Rocket Science
Despite the fact that the fast majority of those hired by hedge funds and banks these days are literally rocket scientists (PHD’s in Physics, AstroPhysics, Mathematics etc.) trading is NOT rocket science. Of course being good at math and being able to write algorithms doesn’t prevent someone from successful market speculation it just isn’t a prerequisite. On Friday I outlined … Read More
What behavior should a prop firm reward?
After the close one day this week I encouraged our traders to CALL OUT awesome potential trading opportunities. Shark called out SXCI into one close and the firm and individual traders caught a very profitable trade. I got our Floor Manager into ILMN for an opening drive play at the start of the week. He sent me an email of … Read More
Chill!
Here are two comments made from two SMB traders in their daily review sent to me after the close. Both harm their results by trying too hard. Do you do this? I am slowly becoming less and less content with just making $$$$ (note: SMB cannot talk our PnL because of compliance reasons) and calling it a decent day. I … Read More