Hi Bella, I finished your book and it was so wonderful and inspiring. As a female trader (back in the game after a year and a half away, used to trade on a prop desk), I loved that you addressed the issue of women in trading, you sound like a great guy to work for. I would like to share … Read More
Markets Change And So Must I
I received the following thoughtful email from a reader and former SMB student the other day: Steve, From your recent email: /* Simple chart set ups are just opportunities for you to consider a trade. They are not a signal to just make a trade. Skill is needed to determine when an excellent risk/reward is present. Skill is needed to … Read More
Free Options Webinar: SMB’s Options Tribe: Today, January 31, 2012 at 5pm EST: Broken Wing Butterflies
Today, January 31, 2012 at 5:00 pm Eastern Standard Time SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by veteran options traders and experts in the world of options … Read More
A Tape Trade
One of the questions I receive most often is regarding trades based strictly on the tape. These occur far less frequently than in years past because of the masking of buyers/sellers by the HFTs but they still do occur from time to time. This morning I was trading AMLN on the Open as it was In Play due to an … Read More
The Lens Matters (2)
Last week I wrote a column talking about how I had moved towards using 15 minute charts more often intraday to keep me focused on a stock’s most relevant trend. I still use lower time frames and the tape to identify the best entries but the higher time frame view will inform whether I am short or long. I thought … Read More
The Language of the Successful Trader
Trader A has overperformed since his start at SMB relative to his experience and peers. Trader B has underperformed relative to his experience with us. Trader A went to a middle of the road school. Trader B has a very impressive educational background. Both love trading. Both are guys you build a firm around. So what separates the two? Their … Read More
An Argument for Why Not Trading Much Makes No Sense
So I work with a trader who started very well. I was very happy with his progress. He was consistent with his results. Steve frequently would remark at his over-performance given his experience. And then recently he has not traded well. So much so that yesterday I wrote him this email: Hey, what is going on w u? Something bothering … Read More
How do I regain my trading confidence?
Hi Mike, I think it’s crazy (in a great way) that a successful trader/prop firm manager/author still takes time to answer random question from traders… Thanks so much for considering responding to mine. First, a bit of background so you know where I’m coming from. I started trading at the beginning of 2004 at a prop firm in Chicago that … Read More