Bella, A couple quick questions on EDU based on what you were discussing in the meeting after the close: I was watching EDU and felt that the 15.70 level was more important intraday support than 15.50. The push down to 15.50 happened simultaneously with the market exhausting its downtrend before pulling back, and at the time it looked like EDU … Read More
Trading Bigger (GMCR)
GMCR from 7/16 Where to add size on this play? I thought about it all day and discussed it with a number of other traders. One camp was “be big at 19.20, the 2nd time, at 11:20am with an out in the mid 30s”. I can’t totally agree with this. I don’t think you can get that big there, responsibly. … Read More
Should you quit trading?
Hey Mike, How are you? Everything at SMB going well? Life outside of work is good? If you have the time, I could use some advice. I have now been trading about 10 months at (firm deleted) and learning from one of the best traders. For our style of trading, the firm as a whole finds this to be one … Read More
Traders Ask: What is a Competitive Trader?
Question: I hear a lot about the value of a competitiveness in trading success. Analogies are made with the striving for peak performance seen in athletes and entrepreneurs. One thing about this puzzles me, and I’d appreciate the thoughts of others with more experience and success. When I trade I am trying to get better: to make good trades and, inhibit … Read More
I felt a rip coming
I caught a scalp for the first downmove in DSW. I caught the upmove from above 52.12 to near 53. And I caught the downmove from below 52.50 to 51.65. I looked at my PnL and I was barely positive. How is that possible? I was not trading DSW on the open with size as it was so early and … Read More
The Pro’s Process – Mike Bellafiore
Richard Chignell from Embrace the Trade on the fourth of his series of posts has been asking Pro Traders about their psychological processes. From Mr. Chignell: The fourth in my series of posts asking Pro Traders about their psychological processes. Delving a little into how it feels to them when trading. The good and the bad. How this has changed … Read More
Stopped Out!
I was writing this before the close because I stopped trading and I walked out to clear my head. After I came back and saw how FB and GRPN traded into the close I am very upset with the way I handled my trading today. Both stocks traded right to my target but I was stopped out of both. My … Read More
One Good Trading Day
I received this Daily Review yesterday from one of our traders. I highlight in this blog because it represents One Good Trading day. If you get as much as this trader during each trading day you will grow as a trader. If you are not improving as much as this trader each trading then you have some work to get … Read More