Hi Mike, 1. Trade only the MOST in play stocks in the beginning as they have the best chance to move regardless of market action. 2. Wait for the market to break previous day’s range or some similar range from previous couple days trading. 3. Establish the the market itself is in play. Is there significant economic news, political unrest, … Read More
And The Answer is… Trade Less
I have a question, but here is the background. I have a VERY small trading account as a trader for a Prop firm. It is an account with $16,000 in buying power and a 40-share max with a $25 loss limit (I’m in my firm’s 18 month trading program and started with a $2,000 account and account grows as your … Read More
Forex Trading: When do you let a winner run?
You know the following situation well: You had a long in EUR/USD at 1.3005 and sold it at 1.3018 only to watch it go to 1.3086 over the next hour. Of course when you try and hold for these type of moves, you give back your 10+ pips plus some additional when your stop gets hit. How do we know … Read More
Trade Review: $VRTX
VRTX gapped up over 50% on positive drug news. In this trade review Steven Spencer discusses his basic philosophy on trading very large gaps as well as his executions in VRTX.
[Recording] The Playbook: Earnings Season
If you missed this Webinar by Mike Bellafiore, author of the “trading classic” One Good Trade, on “What You Should Focus on During Earnings Season”, this is your opportunity to watch it. This recording is no longer available.
Forex Trading: When Should You Go Against The Trend?
What makes prices in a financial market system fluctuate the way they do is traders entering and exiting the market for an infinite number of reasons. Some may be getting stopped out while others may be adding to a position. We can never know for sure the reasons why they may be acting a particular way at a specific period … Read More
How Long is Too Long to Not Be Making Money?
Dear Bella, Thank you for all the great ideas that you share on your blog. It is a great tool for trader improvement all around the world. I see you helping so many beginners, so I’m sending you this e-mail with the hope that you can help me as well. I’ve been trading for the last 10 years of which … Read More
Ten Ideas for Creating a Good Trading Journal
Mike, You’ve mentioned having a journal, and a detailed journal on a number of occasions. It always makes me feel guilty because I haven’t been keeping one and I don’t know what I’m missing. In the Wall Street Warrior video, I think I saw your recruits carrying paper notebooks. So I’ve been wondering: what do you write in the journal? … Read More