Let’s say I told you I wanted to improve my golf game. Specifically I wanted to get better at driving the ball. Currently I can drive the ball about 250 yards because I am no good 🙂 And I continued that yesterday I worked very hard on game. I went to my local driving range, parked the Lexus (the car … Read More
Traders Ask- How Do I Trade a Bearish Flag Pattern?
Hi Mike. Yesterday in you webinar you showed us a chart on Toyota that dropped nicely on bad news. After that initial drop the stock began a sideways move. The question is: Do you continue to trade that stock during the day even though its going kind of sideways, or do you wait for it to brake the lows or … Read More
Traders Ask: What R U Thinking While Trading?
Mike, A few nights ago I watched Alex Rodriguez pound two homers against Boston. As I watched, Alex was calm, collected, and observing what was being thrown at him. I wonder whats going on in his head during those moments, when he’s just waiting for the pitcher to release the ball? “Absolutely nothing” I said. “Alex is just intently … Read More
Traders Ask- Where Do You Find All Those Levels?
I was away part of the week so as I kept half an eye on the football game this afternoon I used the other half to catch up on my archiving of the SMB blog. Turned out that being behind was a good thing because I was able to instantly walk forward and see how the analysis played out. … Read More
Traders Ask- When Do I Buy For a Support Play?
Question: Hi guys In Mike’s great book he talks often of “buying right” most often using limit orders at resistance/support levels and on dips during a momentum trade. For a while I’ve struggled to find the best time to do this. Can you please tell me, using a long trade as an example, do you place your limit order at … Read More
Traders Ask: Violating My Risk Parameters
Dear Mike, I hope that my email finds you well. One of things I’ve learned about trading at a proprietary firm, is that the best traders are also the most honest traders. They’re honest about their numbers, their mistakes and weaknesses as a trader. Today I took a real close look at my trading weakness. I want this to become … Read More
Morning thoughts for September 21, 2010
Good morning traders. Market is up slightly overnight following a very strong session yesterday. Typically after a trend day the following day tends to see consolidation in the morning session. On the open I will be much more inclined to take quick momentum profits than usual. I am also going to be looking to buy quick dropouts to afternoon support … Read More
SMB Trade of the Week – FDX
SMB Trade of the Week – FDX. A Return to a Technical Break Area Trade