Yesterday I made a silly mental mistake on the open that cost me my morning. I was expecting a small downtick on the open before the rally so I tried to get too cute. I shorted GS on the open. I was trying to catch the first down move so I could have plenty of leeway for my long for … Read More
Making Adjustments as the Market Changes
As traders we are constantly asked to make adjustments as the market changes. One of the questions I am asked most frequently by potential recruits for our desk is “how has the market affected the trading system that we teach?” My response is that we teach the same system we have been using for more than a decade. Our system … Read More
Reloaded and Ready to Trade
I struggled for a couple of weeks and found myself going back to my old emotional habits. Bella reminded me at the expo a couple of weeks back that I tried quitting the firm after struggling after my first five months trading live. Steve helped me turn things around by working on my emotional rants: banging, cursing, bitching, etc. The … Read More
One Percent
I have heard from three reputable day trading firms who were concerned about this market. I have received email after email from experienced traders complaining about their performance of late. Their traders have not been doing well. They were worried about the volume drying up going forward. I will share what I relayed to these firms: get your traders in … Read More
Good Stock Bad Stock
GENZ was a good trading stock today. NFLX was an awful trading stock. We are only as good as the stocks that we trade. Today I chopped up GENZ and barely scratched out a few bucks in NFLX. The same trader on the same day, I had very different results trading both. Let’s discuss. First, NFLX made me irritable. I … Read More
MOS Definitely
MOS Def is a very good actor. MOS is not the easiest stock to trade. But into the close Friday MOS was very strong. MOS traded from 38-43.40ish intraday on Friday. The market opened decidely negative and MOS was down almost 3 points. I decided to trade it today. I am glad that I did. Let’s discuss. This is a … Read More