I received an email from a new trader asking for input on whether to increase his max tier size (how many shares he can trade per position). To get bumped up a trader might reach out to a Senior Trader to receive the increase. This is a trader who does everything asked of him. This is his 6th live … Read More
The Future of Trader Education
Today we have launched SMB Options Training! SMB is actively teaming with awesome educators/traders in the options space, technical analysis, and swing trading. No one will be added to our team who is not actively trading. No trading program ever will be developed that does not incorporate our core teaching beliefs of training traders like elite performers. SMB Training will … Read More
Traders Ask: How Do You Handle the Daily Stress of Trading?
Hi mike In your book and in many of your posts and lectures you compering a day trader to a professional athlete. because of the need of showing perfect performance in each game/match/contest and you are right of course. But i think there is also a big difference. Most professional athletes have to compete for a few days a month at … Read More
Traders Ask: About that SYY Trade
Hi Mike, I just read your blog post on the SYY trade you guys made the other day. It was basically a play for an opening drivethat you wanted to add to your traders’ playbook. Just a quick couple of questions, if you don’t mind: 1) Would you be more aggressive if you see the bid hold at 30.63, drop, … Read More
Trade the Trade
A trader sent me this review of his work of yesterday: I made ~$250-300 right on the open which I was fairly happy with considering the stock I was trading didn’t move exactly how I wanted it to. I was trading actively, controlling my risk and in the trades I needed to be in. Most importantly, I was involved. None … Read More
Making it worse
Bobby Curtis was a world class distance runner who developed insomnia (NY Daily News article). He had to quit competitive running. He tried and considered every solution. And then…… It was on one of his innumerable Internet searches that Bobby Curtis finally found a deceptively simple approach, one that counseled him to follow his normal schedule of activities, no matter … Read More
The SMB PlayBook: Compiling our best trades
We have been doing an exercise with our traders that I thought I would share. We ask our traders to create a playbook. Plays and patterns that make sense to them that they want to trade more of. At the end of the day the trader considers a best trade they made, details this trade in our SMB PlayBook template … Read More
Gap, Battle and Go (SYY)
SYY gapped up on the open after earnings. Intraday Fundamentals From Reuters: * Q3 EPS $0.46 vs est $0.41 * Q3 sales $9.76 bln vs est $9.48 bln * Shares up 11 pct, at year-high (Compares with estimates, adds background in paragraoh 2; updates shares) May 9 (Reuters) – Top U.S. food distributor Sysco Corp reported quarterly results that easily … Read More