Archive for January 2013

Are Traders Masochists?

Jan 29th, 2013 | By | Category: General Comments, Steven Spencer (Steve's) Blogs
The question open for discussion is this: are traders by and large masochists? Bella and I had a brief chat today regarding the breakout trade in KERX that occurred on January 28th. He asked me to do a Webinar on it as he thought I might offer some more nuance on how to manage the trade where his trade management would be something like "above 5.10 I'm long". KERX had been discussed in our AM Meeting where we review the top In Play names for the day. It was discussed in the context of a stock potentially breaking out on the weekly chart, as well as a "small biotech" both of which have a history of making "silly moves" (as Gman Read more [...]


Forex: Are You Really In Tune With Order Flow?

Jan 29th, 2013 | By | Category: General Comments
Newer traders usually are faced with similar information early in their learning curve. Much of it revolves around traditional sources of information: charts, fundamentals and news reports. People are conditioned to believe that these sources of information are accurate, reliable and actionable. They base their trading decisions on such information and often wonder why they cannot find consistency in their trading. There is another piece of the information puzzle that is not as easily accessed or is not so easily utilized and that is order flow. This is especially true for forex and futures markets. Equities traders rely on Read more [...]


KERX Morning Preparation

Jan 28th, 2013 | By | Category: Steven Spencer (Steve's) Blogs
Here is a short clip of my discussion of KERX from today's AM Meeting. It is a small biotech that had positive Phase III data. Towards the end of the clip I talk a bit about how momo funds will push around these lower priced biotechs without regard for percentage moves. Too many times I have seen the DNDNs ARNAs and VVUSs run much farther than less experienced traders expect and therefore they fail to capitalize on these outsized moves. Even worse some try to be "too cute" and get short causing them to take unnecessary losses.  Imprint this setup on your brain it will happen a bunch of times every year. Steven Spencer Read more [...]


Guest Webinar: 3 Intra-day Time Frames

Jan 25th, 2013 | By | Category: Steven Spencer (Steve's) Blogs
Steven Spencer will be breaking down the three major categories of trades that can be made intra-day by time frame. It has become increasingly clear during the past several years that certain intra-day trades should be de-emphasized and others given more attention. Steve will break down a trade from each category and then explain how to best allocate your time. Presentation should be no more than 30 minutes with up to 30 minutes available Q and A. If you would like to submit a question prior to the webinar just email Steve at goodtogreat@smbcap.com To participate in the Webinar just login to DTBC. If you aren’t a member Read more [...]


NFLX Pre-market Analysis

Jan 25th, 2013 | By | Category: General Comments

I wanted to share this clip from today’s AM Meeting. It is a reminder that stocks can go MUCH FARTHER than you expect.

Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is sspencer@smbcap.com.

No relevant positions



Forex: What’s In Your Process?

Jan 25th, 2013 | By | Category: General Comments
Recently I sat through an excellent presentation about trading psychology. One thing that I learned about the best of the best traders is that their most common trait is something called “process”. Process is just another name for routine. It took me a very long time to realize how important this one concept is for the developing trader. The main lesson to take away from this is that these routines are what drive your trading plan. It all makes so much sense when explained to me in this context. This concept is all around us. For example, I know of grade school teachers who use routines not only to lead children through their Read more [...]


Free Webinar Recording – The PlayBook – Opening Drive in LNKD

Jan 24th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs, SMB on TV, SMB Video Blogs

This week on our New Webinar Series, The PlayBook with Mike Bellafiore, Mike discussed an Opening Drive Trade in LNKD . If you missed this Webinar please click here to watch the recording




This is How You Trade COH

Jan 24th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
I received this question from a foreign college student who took our college training program during the summer. It is a wonderful program for passionate college traders interested in trading pro. Let's check out his question and my answer below. I would be happy to answer any questions in the comments section or at mbellafiore@smbcap.com. Trade well! Today I had a rough morning. I was hoping you could give me some advise on these trades. I traded COH above 51.8, DGX above 58.5 and NSC above 68 and I got hammered in all of them. Are these bad trades or did I do something else wrong? I have no problem taking a loss or being wrong Read more [...]


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2. The seminars given by SMB TRAINING are for educational purposes only. This information neither is, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities. You shall be fully responsible for any investment decision you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

3. This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by SMB TRAINING or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.

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5. No relevant positions

6. Please note: Hypothetical computer simulated performance results are believed to be accurately presented. However, they are not guaranteed as to accuracy or completeness and are subject to change without any notice. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Since, also, the trades have not actually been executed; the results may have been under or over compensated for the impact, if any, of certain market factors such as liquidity, slippage and commissions. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any portfolio will, or is likely to achieve profits or losses similar to those shown. All investments and trades carry risks.

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