This morning I messaged on StockTwits that I was long SPY for a bounce play. Here are the messages time ordered. The original reason for the SPY long was a combination of how quickly we had moved from SPY 165 to 161 and my long positions showing relative strength to the SPY. Many times when I see this type of … Read More
Forex Trading: Do You Have The Right Perspective?
I would say most newer traders come into the market with all kinds of preconceived notions, biases and misinformation. This comes from ingesting too much financial media and following too many self proclaimed experts. Newer traders lack confidence because of two primary factors: lack of experience and no perspective. Perhaps you need experience to gain perspective, but it is possible … Read More
Questions on Consistency and Scalability
Steve- Thank you for a great presentation on Tesla last week. I subscribed to the blog for a few months now, but your class was my first real exposure to SMB. It is refreshing to come across a professional trader, not just a professional instructor. I have a couple big picture follow-up questions from the class I hope you will … Read More
Should I Use Fibonacci Levels?
Mike, I’m wondering if you can answer a question that I have given some thought for some time. Do you find Fibonacci retracement useful? Has it worked for you or SMB in the past (and beyond what could be from simply random chance)? I can’t find any studies with RELIABLE statistical analysis. Good luck tmrw! Thanks for your time. @mikebellafiore … Read More
Mastering the Bounce: How Reading the Tape Helped Me Play LULU
Dear Sir, It is great what you are doing at SMB. Caught some glimpses of it on Wall Street Warrior and some YouTube videos. Also, I have read your first book. Thank you for opening up your world to wannabe traders like us. It is an awesome treasure. I do have a question. I have been learning reading the tape … Read More
A Recommendation for a Trading Psychologist
I really enjoyed One Good Trade and I’m excited to get my hands on my pre-ordered copy of The Playbook. I’ve been looking at the markets my whole life (got a solid 20 shares of INTC from Grandma when it was at 10) and began trading at a prop firm right out of college. This was in summer of 2008, … Read More
SMB Forex and Futures Weekly Trade Review 6/14
In this segment Marc Principato, CMT, examines how to take a momentum trade in the S&P 500 CFD using volume analysis and pattern recognition. To learn more visit: bit.ly.com/smbhome [purehtml id=16] — Marc Principato, CMT Risk Disclaimer *No Relevant Positions
Forex: If You Can’t Lose, You Can’t Win
Let’s face it, we all hate to have losing trades. Whether we realize it or not, losing trades are necessary in order for us to grow as traders. Not being able to take a loss or having a fear of losing will keep you from ever making progress. Most importantly, when you have a trading loss, you have the opportunity … Read More