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
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
Go for Growth
In full disclosure this blog post idea comes from listening to my wife and what she has to say about her reading. I recommend doing more of that 🙂 . In her highly publicized book Lean In (gr8 title) and in a recent interview with Fortune, Sheryl Sandberg, COO of Facebook, relives her move from Treasury to Google and then to Facebook … Read More
Growth Up
Mike, When I read One Good Trade and asked you some questions a while back, I didn’t put the pieces together. Am I correct in saying you expect all 66 traders to treat the trading as a job? Though one that can be quite exciting and nerve-racking to say the least. Your comments reminded me of my insurance days when I … Read More
Is My Trading Scalable?
Hi Mike, Thanks for your offer to answer my question this afternoon by email. I wondered why you said it takes $1M-$5M to make $1M in annual profits? One can certainly make more than $50K annually with a $50K account. Why isn’t the relationship more linear in scaling up? I must convey my deep gratitude for the invaluable knowledge and … Read More
This is What a Successful Trader Looks Like
Hi, I applied yesterday for a spot in SMB Capital’s team. My resume is poor. I’m trying to increase my chances. First was TDC. I waited for the reversal and based on the Tape I’ve spotted buyers stepping up the bids. So i add a small size, initiating my long position. The tape continues to look strong so I add … Read More
Why I Tweeted HUM was a Short
Today during the trading session I tweeted on StockTwits about an excellent $HUM short opportunity, as you can see below. The funny part about these tweets, and I will let you do the research, is I was called out for these short tweet ideas by a few. My response to this now is the same as it was in real-time: … Read More