We challenged some of our newest traders to expect more from their results recently. We wanted to push them toreach for a goal just outside of their present ability. This is how you improve at anything. You push yourself beyond your comfort level for a new goal you are not quite good enough to obtain. Every night I asked these … Read More
The Back Nine- You First
On the couch, wife out of town, a full container of perfectly ripe cantaloupe, what is a young man to do? I found a killer documentary, not via NFLX, The Back Nine that has left me with a day full of thoughts on trader performance. First should we teach traders to work through their psychological hurdles before we talk set ups? … Read More
Exploring Trading Education: Why Aren’t Universities Teaching Trading?
I just returned from Penn State for a talk with some future traders (perhaps). Some serious college traders inside of an investment club reached out for my visit. My charge? Discuss what it’s really like to be a profes-sional trader so that some might better understand what we do. In a recent New York Times article the rise of trading labs … Read More
If 1 Why Not 2?
One of our traders, The Original Jersey Shore, was long big at support in CEPH at 58.50 (Trade 1). He got stopped out. After the close he stopped into my office to discuss. He did not get long above the top of the range after consolidation above 58.57 (Trade 2). If you are in 1 why not 2? Shark was … Read More
Traders Ask- Why the Discrepancy? (Midday Trading)
Bella, I have a question about trading midday. The lecture on times of the day (Day 15) seems to recommend giving extra room on the downside and the upside during midday trading: In most trades you need to give your stock a bit of extra room to both the downside and the upside. Your mentality is to find plays that … Read More
Trade Review CTXS
A new trader sent me his thoughts on his CTXS trading today (see chart below). Here is what I really like about his trading: a) He was in complete control of his trade. b) He does an excellent job of finding a way to be bigger for the next time he sees a similar set up. c) He is … Read More
Getting Started as an Active Trader
I was asked to speak at the TraderExpo next week by LightSpeed on this topic: Getting Started as an Active Trader. Here are my bulletpoints on what you need: 1. Domain Knowledge 2. Intrinsic Motivation 3. Critical Feedback 4. Purposeful Practice 5. Luck 6. Talent 7. Growth Mindset 8. Your PlayBook 9. Value-Add Environment 10. Mentor What do you think … Read More
A Path to 1k
Yesterday we challenged some new traders to review their day and create a path to 1k. Making more is about finding the set ups that make sense to you and trading them with more size and more often. This exercise guides the new trader to singularly focus on these trades and the mindset of doing better. One new trader sent … Read More