We asked about 8-10 of our core traders to work on their skill development during the past two months. These are guys who had been trading live anywhere from 8 to 16 months. They had all previously demonstrated a high level of profitability. But the market environment changed and they had to adapt. They had developed some bad habits because … Read More
A Traders’ Market
We spend a lot of time on our prop desk focusing on skill development. Trading intraday requires a certain set of skills that take some time to acquire. If you are given good training and work very hard you will develop a set of skills in 6 to 12 months that will allow you to make money in all market … Read More
Wow–I wish they were all this easy
Occasionally, you come across setups where your risk is 10 cents and your reward can be multiple points. I usually find these trades no more than three times per month. These are trades that I cannot accept missing when they occur. I found such a trade yesterday afternoon. AAPL had been trending up strongly. It appeared to be heading to … Read More
Do Not Chase Stocks!
A problem I see time and time again in my own trading, but more so in inexperienced traders, is when you miss a move in a stock or in the market, we tend to chase and push. This is obviously a lack of discipline. But how can you protect yourself from this? First, let everybody understand that it is alright … Read More
SMB at Trader Expo in NYC
SMB has been invited to present two free workshops at the International Traders Expo, which will be held at the New York Marriott Marquis Feb 21-24. We invite you to join us at these workshops to learn more about our proprietary trading methods and the skills necessary to become a consistently profitable active trader. I have included a summary of … Read More
Respect The Support
We talk about the easy money constantly in this blog. Yesterday offered some great easy money opportunities that you have to be able to capitalize on. The first situation is the 47.50 level in RIMM. Bella discussed this level the other day in his blog post, and how a great amount of volume went off at that level. Yesterday RIMM … Read More
Trade Stocks That Are in Play!
We talk a lot about how important price matters in making consistent money. But it is equally important to be in stocks that are in play, that are moving. Stock selection is crucial in making consistent money. I have been frustrated lately with many young traders on our trading floor over the past couple of weeks, because I feel that … Read More
Push Yourself to Become Better
I read Bella’s blog on SRS, and he brings up a great point on how important it is to push yourself every day to become better. “Constant never-ending improvement.” I think Tony Robbins once said that. But the reality is the SRS, SKF, and USOs of the world are basically different opportunities for us as professional traders to make more … Read More