Happy Saturday Bella and Steve, I’m reviewing one of my old trading tapes and wanted to get your opinion on a trade I executed in TVIX back on 7.11.11. Let me setup the trade for you: Basic Sup and Res Play Prev close: 16.36 Res: 17.90-17.95 Sup: 17.70, 17.50 Gapped up to 17.30 pre-market, consolidated around 17.45-17.50, started an uptrend … Read More
Understanding the market structure of the day impacts all of your intraday trades
Understanding the market structure of the day impacts all of your intraday trades. Corey Rosenbloom has done some excellent work on this important trading concept. Dr. Steenbarger has written about its importance. At SMB we talk about the Big Picture before we start our AM meeting. Below is a self-proclaimed rant from a new trainee. We can learn from his monthly analysis … Read More
Trading Passion: Embracing Failure and Discovering Your True Path
Morning Bella, I’ll try to keep this brief because I know you’re extremely busy. I just finished reading “Talent is Overrated” by Geoff Colvin along with “Mindest” by Carol Dewck and was interested to know what drives you and Steve to be successful traders and teachers? And where does your trading passion come from? Where did it start? Colvin talks about … Read More
Traders Ask: How Do I Stop Losing Money?
I get asked this question a lot. Here are my thoughts. There is not one thing to say that would make the difference. There are not a few things I could write that would make the difference. This question ties nicely into a conversation I had just a few minutes ago in my office with a mentee, which I will … Read More
Find stocks “moving away from prices”
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