I’m the guy you pitch as to why you should be hired for your “dream job” as a trader. This whole trader recruiting thing is inverted. You should not be pitching me. My desk should be pitching you. But you need to do some work before this can happen. Like start developing a track record now! During a recent interview … Read More
Traders Ask: Is it Better to Trade Stocks in Play or a Basket?
Question: Greetings From The Great White North Bella, Just re-read One Good Trade again (it just keeps getting better) and I found myself asking the same question. Are we better to trade Stocks in Play that may be news to us but have momentum and/or should we be playing a basket of names which we have become familiar with. By … Read More
How you brand the best set ups in your trading mind
When I see mentees working hard and showing promise I ask them to send me a daily recap. Below is an excerpt from one such review: Overall I had an alright day, it could have been a lot better. I traded a few stocks very well and a few stocks a should not have been in at all, I was … Read More
Start Slow? Start Fast?
Last night I had drinks and apps with two experienced traders. After some catching up we got into a discussion/argument about the best way to start your trading career. It has been written here that no one ought to trade 200 shares live until they can make money with 100 shares. You are the worst you will be as a … Read More
A path to profitability
“If I increase my stop then I will start making money.” This just might be the single silliest thing I have ever heard a trader say. No “trading is in my genes” is. I will offer a path to profitability to consider. Look there is no one right way to achieve your goal but there are definitely wrong paths. Adding … Read More
Collaborative learning and your trading
I received this email last night about using collaboration as a way to improve learning. this is Sam H, from a while back. Anyway, let Mike know that UMBC (University of Maryland, Baltimore County) is using the collaborative method your training involves. My review of the book (One Good Trade), as you may remember, spoke to this kind of learning as ideal. I … Read More
Why Do I Trade Worse on Monday?
I read the comment below from a daily review from a trader with whom I work. I asked Dr. Menaker, trading psychologist, for his input. I have developed a pattern of being too aggressive (each week, a different kind of way, after I learned my lesson a prior week) on Monday’s. Today did not have to be aggravating. I could’ve … Read More
Traders Ask: How Do I Trade a Price Spike?
Hi, During trading today I realized that my playbook is missing a play: positive price spikes when you are already in the trade. I couldn’t find a place in your book or your website where you talk about this. I’m wondering if you can offer some analysis. Attached are some one- and five-minute charts (I was trading off the five minute … Read More