Tuesday Morning Fun – Excessive Celebration

On our desk we frown upon excessive celebration after making one good trade. Many get in an excited mental state which causes them to make several bad trades in a row. One of our traders found this link this morning. This is clearly an example of excessive celebration. Wait for the score at the end of the clip. http://video.yahoo.com/network/100284668?v=4656506&l=4418225 Enjoy. … Read More

Be Like Tiger

Tiger Woods won Bay Hill for the second consecutive year with a dramatic putt on the 18th green. It is a privilege to watch him work. We can all learn a great deal as traders from him. On “Pardon the Interruption” today an intro leading into this story asked- How does he do it? Well below is how he does … Read More

Hard Work Pays Off

We asked about 8-10 of our core traders to work on their skill development during the past two months. These are guys who had been trading live anywhere from 8 to 16 months. They had all previously demonstrated a high level of profitability. But the market environment changed and they had to adapt. They had developed some bad habits because … Read More

Percentage Returns for Day Traders?

A couple of days ago I received an email from a blog reader inquiring about my performance for this year. And often times we are asked during interviews what kind of returns we generate. Almost every day I see on Facebook and some blogs people posting their percentage returns for a particular stock. Individual investors among others judge their performance … Read More

Survive and Advance

I heard on the Street that many day traders struggled in December and January.  I know there were some on our desk who were disappointed with their results.   Over the years I have been offered data from the market that I was not going to succeed as a trader.  I was offered this data when I first started (starting … Read More

Self Aware

Before the Open I was pissed.  As a partner sometimes I miss the days when I could just roll into the office and trade.  I look forward to the day when the guys we teach are running the desk.  And I can just come in and trade.  And I hope I get to sit all the way in a back … Read More

I Am Not Making the Same Mistake Today

As traders we search for repeating patterns.  The last two trading days have offered the same pattern. Levels were violated into the Close and the market trended into the Close.  Financials could be bought or sold in the direction of the trend and held into the Close.  Let’s discuss.  Yesterday into the Close SPY traded between 81.20 and 81.50.  We … Read More

Sometimes It’s Just That Easy

Often intraday traders struggle understanding the difference between a Trade to Hold and a short term trade.  Most trades that we make are short term trades.  But every intraday trader needs Trades to Hold.  And you ought to have a list of these trades that are best FOR YOU.  Let me offer a suggestion of a Trade to Hold for … Read More