Hello Mike!I have a question about when to stop trading during day trading session and go home.You’ve traded many years. Can you say what is better in your opinion and what you prefer to do in your own day trading?Setting a goal to make max $500 each day and when achieve it, switch off the monitor and go home immediately It’s limiting … Read More
Eight Things I Learned From John Lee
Special Guest Post from @travisharbauer John Lee, professional trader and host of “Charts Gone Wild” on StockTwits TV, spoke with SMB traders Friday afternoon, and below are eight things I learned from his discussion: [1] Keep it simple; don’t trade using an overcomplicated strategy. Lee’s 13-year-old cousin profitably uses his strategy and she’s learning more about the markets everyday. [2] … Read More
Traders Ask: Was this One Good Trade ($DV)?
Mike, I have a quick question today about a setup I was in… After a great run-up from this AM and yesterday the education stocks were starting to come back to life and making fresh intra-day lows (around 11AM)… I saw APOL, STRA and ESI making these intra-day lows (the spys were making lows as well)… while cycling through the … Read More
Inside the prop desk: Recovering from a big rip
Guest Blog by D. Brown Fast forward to the end of May, 2011. The summer is quickly approaching, the weather is beautiful in NYC, my graduation is finally here, and my life as a trader is just beginning. I’ve been trading w/ SMB for a month now, and I’m up roughly 5k in the first 18 days. Awesome! Or so … Read More
Why Do You Trade? And Why This Matters So Much for Your Performance!
Michael Martin from @martinkronicle contends in this interesting piece that Tiger Woods has not regained his golf dominance because he has lost his real reason to play golf. I forwarded this article to an elite performance coach Dr. Jonathan F. Katz of High Performance Associates and asked for his feedback and how this relates to us as traders……… My reaction to this piece…is … Read More
What do you need to fix first about yourself before you can become a better trader?
I was at dinner last night with a highly successful manager. She had just landed the top account at her multi-billiondollar financial firm. Over fettuccine noodles and chicken Pad Thai she continued that the firm contemporaneously placed her into a special training program for their star performers. Her boss warned that the program would be difficult, expose her weaknesses and uncover uncomfortable things about … Read More
A signal from the tape (RIMM)
With all things algos these days stocks rarely repeat for size at the same price. Instead of 41.70 just repeating on the offer. There is some at 70c, some at 71c, some at 73c, some at 77c as the sell algo lifts to see if the buyer will pay higher. So when find a seller selling at the same price, … Read More
A trading day ruined
Ever go from having your best day ever to negative? Below is a recap of one such experience. Big Baby did a wonderful job of analyzing his trades from yesterday. He was frustrated that he went from his best day ever to negative. I thought we would share his post trade review. The only way to get better as … Read More