Hi Bella, I just finished reading your book One Good Trade and I wanted to thank you for writing it. I am trying to learn the craft of trading, and I found it to be entertaining and educational. Toward the end of the book you mention how in 2009 and 2010 you started moving toward longer term intraday positions and even … Read More
Do you have a news edge?
Last night I had dinner with Ravee Mehta, author of The Emotionally Intelligent Investor and former hedge fund trader at Soros Fund Management, hoping to learn more about getting a real news edge while trading. On my desk I hear my guys talking about Conviction Trades before the stock confirms their thesis. I have worked with very experienced discretionary traders who … Read More
Does the 10,000 Hour Rule Apply to Trading?
It takes purposeful practice AND 10,000 hours to become great at anything, says this latest blog from Barking Up the Wrong Tree. I write about one way to practice purposefully in my next book The PlayBook (which you can preorder), by creating your PlayBook. I have written about other ways extensively on this blog (some examples below). Improving Our Performance … Read More
Should Short Term Traders Consider Fundamentals? Part I
I believe the majority of market participants agree over longer time horizons fundamentals will influence the price of a stock. But what about in the short or medium term? Should intra-day traders or swing traders be evaluating fundamental news related to the stocks they are trading? Or should they simply focus on price action in relation to news? I have … Read More
Using The Tape: $PRGO
Reading the tape is an essential skill for actively day trading. The tape, also known as the time and sales window, shows the trader important information about order flow. It is a stream of data on price and volume, which are two important criteria for intra-day trading decisions . Tape reading takes time to learn and takes practice to understand … Read More
Forex Road Map
Marc Principato, CMT records a trade setup as it happens on the S&P 500 CFD instrument. This is an example of how the traders in the SMB Forex and Futures program manage emerging opportunities. It’s like having a road map. Can you see the value? — Marc Principato, CMT Risk Disclaimer *No Relevant Positions
Don’t Dig a Trading Hole Like These Traders
The below is an excellent reminder for us as traders. It comes from a trade recap after trading today. 1) When returning from vacation take it slow. 1a) An experienced trader ripped it up on a new platform yesterday prompting an email from SMB to get used to the system- take it slow. 2) Let the market come to you. … Read More
The Forex Road Map
When new traders enter the forex market, they install their platform of choice and then ask the following question, “How do I know which way my forex pair is going?”. They usually seek the answer by immersing themselves into the world of confusion. Amazingly enough, newer traders already come to the game with the preconceived notions that their brokers love. … Read More