Steve- Thank you for a great presentation on Tesla last week. I subscribed to the blog for a few months now, but your class was my first real exposure to SMB. It is refreshing to come across a professional trader, not just a professional instructor. I have a couple big picture follow-up questions from the class I hope you will … Read More
Should I Use Fibonacci Levels?
Mike, I’m wondering if you can answer a question that I have given some thought for some time. Do you find Fibonacci retracement useful? Has it worked for you or SMB in the past (and beyond what could be from simply random chance)? I can’t find any studies with RELIABLE statistical analysis. Good luck tmrw! Thanks for your time. @mikebellafiore … Read More
Mastering the Bounce: How Reading the Tape Helped Me Play LULU
Dear Sir, It is great what you are doing at SMB. Caught some glimpses of it on Wall Street Warrior and some YouTube videos. Also, I have read your first book. Thank you for opening up your world to wannabe traders like us. It is an awesome treasure. I do have a question. I have been learning reading the tape … Read More
A Recommendation for a Trading Psychologist
I really enjoyed One Good Trade and I’m excited to get my hands on my pre-ordered copy of The Playbook. I’ve been looking at the markets my whole life (got a solid 20 shares of INTC from Grandma when it was at 10) and began trading at a prop firm right out of college. This was in summer of 2008, … Read More
SMB Forex and Futures Weekly Trade Review 6/14
In this segment Marc Principato, CMT, examines how to take a momentum trade in the S&P 500 CFD using volume analysis and pattern recognition. To learn more visit: bit.ly.com/smbhome [purehtml id=16] — Marc Principato, CMT Risk Disclaimer *No Relevant Positions
Forex: If You Can’t Lose, You Can’t Win
Let’s face it, we all hate to have losing trades. Whether we realize it or not, losing trades are necessary in order for us to grow as traders. Not being able to take a loss or having a fear of losing will keep you from ever making progress. Most importantly, when you have a trading loss, you have the opportunity … Read More
Recording: Forex Workshop: How to Identify Meaningful Price Reversals
If you missed the most recent workshop with Marc Principato, CMT on “How to Identify Meaningful Price Reversals”, this is your opportunity to watch it. In this presentation, Marc explains how to use price action concepts to identify market tops and bottoms. This approach comes in very handy when trying to figure out whether you should hold a trade for … Read More
Why I Bought TSLA Today at 98
I sat down at my trading desk at 7:45AM and noticed TSLA was down off of the negative article in Barron’s, near a nice technical level at 98, and I bought it. I shared this with the trading community. As TSLA started to work from this 98 level I added. I shared this with the trading community in real time. … Read More