Below is an argument from a trader on our desk not to hold stocks during this earnings season. The trader suggests to get in and out and not expect much follow through with stocks to the upside. Kind of a frustrating market day because the market is slowly grinding higher throughout the day but individual stocks don’t really make hods. … Read More
A hint to make more this earnings season
After the close SMB met in its training room for a talk led by me. I haven’t given many talks of late but I thought the desk was due for one after my observations of their trading. It is earnings season. There are tricks to scoring. And there are things traders do to harm their results. Trying to hard is … Read More
This is a trader’s fault
I received this trading recap from an SMB Trader: I love these types of days where I can keep my tickets really low and keep 95% of what i gross. For some reason when I trade from home, i don’t over trade and am able to keep my tickets really low. maybe because i have other responsibilities when i stay home like … Read More
Five Suggestions for Traders
I was in my office today working on my next book The PlayBook when I got pinged with this from the trading community: Mike, what do you do when you’re a practicing trader, working, saving, and studying to begin trading live, and you feel your motivation begin to peter out. You have this goal but the road there seems like … Read More
The First Lesson of Trading: You Stink
A trader on our desk shared this email sent to him by another trader on our desk. It offers a great lesson to the new and developing trader based on the work of Dr. Steenbarger and a trader’s individual experience. I was reading the first chapter of Enhancing Trader Performance by Dr Steenbarger today and I realized that I was … Read More
A Quick Lesson in Tape Reading (ESRX)
I was long ESRX. It had gapped up on positive news. The first moves on the tape in the stock were positive. I liked the move above the open high. I liked the way it moved away from prices. I liked that above 56.50 provided a clear entry if it held above. The idea was shared on SMB Real Time: … Read More
I See Momentum Buying
I settled at my trading station wondering what to trade on this Open. RHT? BBY? AMLN? There had not yet been a price spike on the SMB Radar in health care yet but I would later ask what and where to buy for that sector. BBY showed some consistent selling at 25 so I scalped that down to 24.60 on … Read More
The Market Discriminates Against the Over-thinker and Ill-prepared
Hi Mike, Never wrote you, thought I would try. Had a question. In much of what I see, read, etc., there seems to be a focus there on recruitment and somewhat of a preference to younger people as new traders on your prop desk. PLEASE note that I am not looking for an age discrimination claim here, lol. It’s just … Read More