Archive for April 2014

Give Me a Break SMB

Apr 30th, 2014 | By | Category: General Comments
Mike, I'm reading your book - One Good Trade - for the second time. In Chapter 3 you describe how your firm selects candidates and how much this process is inadequite. Why don't you just let people papertrade (remotely from home) with your platform and see who does best? I understand your concern trying to select person with the best persona. But as you can see it is not possible to reveal what a person is really like in such short period of time, nor it has significant enough correlation with his trading performance. You wrote that "Steve likes everyone"... I think he just knows that you are doing a blind guess and even Read more [...]


SMB AM Meeting Recap: $TWTR

Apr 30th, 2014 | By | Category: SMB Video Blogs, Steven Spencer (Steve's) Blogs, Trading Ideas
In this short video, Steve discusses a stock from this morning's AM Meeting. Every morning he reviews the market and analyzes the stocks that are in play and likely to have second-day moves. Steve discusses the potential trading setups in $TWTR. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 18 years. His email address is: [email protected] Steven Spencer is currently long CLDX, CROX, GOGO, LQDT, PLUG, SODA, WAVX and short ESRX, FB, KO, P. Learn the skills necessary to identify and Read more [...]


Options Trading for Income with John Locke for April 28, 2014

Apr 29th, 2014 | By | Category: Guest Blog, John Locke, Options Education, SMB Options, Trader Development, Trading Lesson, Trading Psychology, Trading Theory
No relevant positions Risk disclaimer M21 purchase link  http://smbcap.net/m21sale Check out these great videos! May Group Mentoring Open House Part 1 http://optionstribe.com/2013/05/recording-john-lock-group-mentoring-session-may-2nd-2013/ May Group Mentoring Open House Part 2   http://optionstribe.com/2013/05/recording-john-lock-group-mentoring-session/ http://optionstribe.com/2012/01/recording-an-improved-version-of-the-bearish-butterfly-trade-john-locke http://optionstribe.com/2012/03/recording-simulated-march-bearish-butterfly-review-john-locke http://www.smbtraining.com/blog/yesterdays-option-tribe-meetingm3-trading-strategy-by-john-locke http://www.smbtraining.com/blog/yesterdays-option-tribemay-and-june-bearish-butterfly-strategies http://optionstribe.com/2012/01/recording-butterfly-trading-with-deep-itm-calls-to-control-deltas-forrest-anderson http://optionstribe.com/2012/07/recording-m3-trading-system-john-locke/ Learn Read more [...]


SMB AM Meeting Recap: $NFLX

Apr 28th, 2014 | By | Category: SMB Video Blogs, Steven Spencer (Steve's) Blogs, Trading Ideas
In this short video, Steve discusses a stock from this morning's AM Meeting. Every morning he reviews the market and analyzes the stocks that are in play and likely to have second-day moves. Steve discusses the potential trading setups in $NFLX. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 18 years. His email address is: [email protected] Steven Spencer is currently long CROX, LQDT, PLUG, SODA, WAVX, and short KO, P, SPY, TLT. Learn the skills necessary to identify and manage trades Read more [...]


Its Ok to Change Your Mind–Pandora

Apr 27th, 2014 | By | Category: Steven Spencer (Steve's) Blogs
Pandora released their earnings after the market closed Thursday. If the numbers were OK I was looking to purchase at 26 or lower. I broadcasted live on SMB Real Time as I bought shares between 25-26. It eventually bounced to 27.50 where I sold most of the shares.   The next morning I was going to repeat what I had done in my after hours trading. There was no major negative news in their conference call and generally analysts were positive on the stock so with a gap opening of $2-$3 lower I viewed the risk of getting long as limited. As the market opened P dropped like rock to its recent low around $24.60. I was Read more [...]


Your Beliefs Are Your Reality, Choose Them Wisely

Apr 27th, 2014 | By | Category: Guest Blog, Health and Trading, John Locke, Options Education, SMB Options, Trader Development, Trading Lesson, Trading Psychology
I was answering some questions at a trading seminar a while back and a trader stood up and said, “It’s impossible to average more than 12% per year on a portfolio”. I said “OK” and went on to the next person. After all it wasn’t a question so what else was I to say. Apparently, I missed something because he seemed to get a little upset and said in a louder voice “I said it’s impossible to average more than 12% per year on a portfolio”. He was obviously looking for an attention, so I asked, “Is that what you truly believe?” He said “Yup”. I said, “In that case you are absolutely correct. Read more [...]


Enhancing Trader Performance by Learning from the Lessons of Failure

Apr 27th, 2014 | By | Category: David Blair, Trader Development
*****David Blair, The Crosshairs Trader, is a blogger/trader/educator who does a wonderful job of sharing research on elite performance and how it relates to trading. Below is his latest post for the SMB trading community.***** — Editor’s Note Like many of you I am a technical trader.  I look for a particular set of parameters that meet my definition of a trading edge. When present I decide to put my money at risk.  But just like any endeavor where risk is involved there is no guarantee of success.  In the case of trading there is no guarantee that a trade will make money.  In other words, there is always the risk of Read more [...]


Lessons from my Adventures as a Nanny Trader

Apr 25th, 2014 | By | Category: General Comments
I came home last Tuesday to the news that my wife had dismissed our nanny.  I was not aware this was about to happen.   There was no replacement, save her and me for at least two weeks. Oh. A scheduled short vacation to our family condo in Clearwater Beach consumed some of these two weeks.  And then came this Tuesday, Wednesday and Thursday.  I was the nanny. Life is a series of learning opportunities.  Oh son did I learn over these past three days.  Here's what: 1) You can very easily go two days without noticing you have not showered, caring for your child. 2) Eating out with just your child and you is not much Read more [...]