Today’s video trade review highlights a few key points for short-term equity trading. One, how to identify important “inflection points” which can be used as the basis for low risk high reward trades; two, when to consider getting back into a position that doesn’t work initially; and three, how to actively manage a position versus taking your hands off the keyboard and letting … Read More
Let Rodney Be Rodney
Good afternoon Bella! I’ve been crunching my trading stats lately, and see lots of positives but also some things that clearly need improving. A positive is my stats off the open, 9:30-9:50. Those are very strong. However, what is severely lacking is my trading performance from 1:30-4pm. I know you’ve talked about how within the trading day, there are three separate … Read More
Making Trades Your Own (an Example in $SBUX)
Here’s an email exchange between a trader and me that demonstrates the importance of making trades your own. — I’m curious about what your thoughts are on this tweet (below). I thought you might appreciate it. I’m enjoying The Playbook, and I enjoyed reading One Good Trade several months ago as well. Thanks for all that you do. Trend play … Read More
Profitable Discretionary Traders Should Trade on Proprietary Trading Platforms
Bella, I have a question regarding last Tuesday’s session on October 8. I don’t attend Tuesday’s sessions live due to me being tired and the time zone difference. Anyway my question is: You mentioned that traders should seek other than off the shelf platforms in order for them to make more than they consistently do, assuming that they are doing … Read More
Trade Review: $CLF
In this video snippet from the May 10th morning meeting I discuss a Second Day Play in CLF that was traded the prior day and advise our traders to look for this setup again. To watch the video please sign up below: If you would like Steve Spencer’s Trade Review videos to arrive directly to your inbox as they become … Read More
My Thought Process: $NFLX
NFLX had a very powerful downtrend the prior day when it broke the March 28th support of 188.70. I was continuing to monitor it for a break of the 180-179 area. I missed the initial short entry on the Open when it held below 182. As luck would have it I returned to the desk just as NFLX was spiking … Read More
Tricky Dicky
It was a very quiet morning in the world of “In Play” stocks. The only two tickers showing signs of life in the pre-market were DKS and GNW. After reporting earnings DKS lowered guidance which was causing a large gap to a major support area around 46.50. We were prepared for a bounce from this level given the strong underlying … Read More
Not So Fast
One of the more common patterns seen in a strong market are longer term players buying stocks that have gapped lower after earnings. Sometimes this plays out on Day 1 with momentum buyers aggressively buying the stock leading to a gap fill. But many times a gap fill will play out in the days following the earnings release once the … Read More