Archive for August 2014

Top Ten Trading Books

Aug 29th, 2014 | By | Category: General Comments
I had a wonderful conversation with a retail trader who has read 194 trading books.  Wow! This gentlemen has a passion for trading and reading about trading.  I was actually speaking to him about our firm backing his trading.  He has developed a track record while working full-time in the Heartland. For those of you trading retail who dream of one day trading pro, here is one guy taking the steps to achieve that goal.  It can be done! I thought it would be interesting to the trading community to learn his Top Ten Trading Books since he has read so many.  (In any list like this, there will be many great contributions Read more [...]

The First Trade We Teach (An Example with $DSW)

Aug 28th, 2014 | By | Category: Ask Bella, Technical Plays, Trader Development
Good afternoon. I hope this email finds you well. I have spent many hours over the past few weeks reviewing your YouTube videos, blog posts and anything else that I can get my hands on that offers a glimpse into how your trading desk makes money. I'm about 2/3 of the way through your book One Good Trade I have been trading on a demo for the past few days and today everything I have read lined up on a particular stock and I wanted to share it with you. I was doing my morning routine of checking In Play stocks, reviewing the news and checking important levels. One stock in particular jumped out at me and the reason was because it Read more [...]

Should You Quit Your Job to Trade?

Aug 27th, 2014 | By | Category: General Comments
Dear Mr. Bellafiore, Hello my name is Jeffrey, first off I'd like to thank you for the information in your book "one good trade" it's been very helpful. I've been day trading for 2 1/2 years now. I can't trade stocks because of my work schedule but do take advantage of the Future and Currency markets. I've come to realize that my preparation is lacking big time. I understand how to read a chart along with ranges like support and resistance but don't know come up with the major levels or how to really trade off of them. I guess what i'm asking is what should be my main focus in preparation in these markets 1. and 2. should I Read more [...]

Options Trading for Income with John Locke for August 25, 2014

Aug 26th, 2014 | By | Category: General Comments, John Locke, SMB Video Blogs, Trading Ideas, Trading Lesson, Trading Psychology
Risk Disclosure No relevant positions John Locke A great way to improve your trading results is by keeping up to date with the latest trading techniques and current market conditions! Click HERE and join me every Monday at 9 AM EST for our free “Options Trading for Income” Webinars! Where you get expert analysis of the markets and the opportunity to follow along with the best options trading strategies in the business. And check out these great videos as well! May Group Mentoring Open House Part 1 May Read more [...]

Today I Will Trade Big!

Aug 26th, 2014 | By | Category: General Comments
An experienced trader stepped into my office frustrated with me.  He wanted to know why I questioned his position size in  a $TWTR breakout trade.  The exchange we had offers a lesson on getting bigger as a trader for the trading community. First, let me say that I loved this trade position in $TWTR.  And I loved that he was being aggressive.  I wanted to know two things: if the trade didn't work out could he control his risk was his position too big for him So many traders wake up one day and exclaim: Today I will trade big! Traders just decide that now they will not be a wuss, trade big size, and hold for the Read more [...]

Enhancing Trader Performance: Letting Go

Aug 26th, 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 I was introduced to trading by a good friend of mine years ago.  Although Johnny has since passed on, having lost his hard fought battle with cancer, I am and always will be grateful that he introduced me to the trading game.  As with most of our experiences with others I learned much from my friend about what was important but I also learned quite a lot about what was not.  Read more [...]

Shorting DGLY Can Get FGLY!

Aug 25th, 2014 | By | Category: Steven Spencer (Steve's) Blogs
Here is a short clip from our pre-market meeting on August 25th (filmed at my dining room table in Nantucket;). We take a look at DGLY which was gapping above $9 in the pre-market. I offered some thoughts on how many traders focus on capturing the pull back from $8 to $7 and often miss the larger opportunity to the upside that usually follows. One thing I have noticed recently is that some of these lower priced momentum stocks are having much larger moves on the second gap up higher. We saw this in TKMR a couple of weeks ago as well. The key to today's DGLY trade turned out to be the consolidation above 10 the level mentioned Read more [...]

Trade with a True Catalyst

Aug 25th, 2014 | By | Category: General Comments
Often new and retail traders do not trade stocks with a true catalyst.  By a true catalyst, I mean an event that will cause significant new buying or selling.  Said another way, price moving buying or selling. The new trader and retail trader wonder: Why the heck is my stock not moving like I thought?  The answer may be because they do not have a true catalyst behind their trade.  And this may also explain why you so often get stopped out of positions.  The Flash Boys prey on trades in stocks without a true catalyst. And then there are the b.s technical trades that too many new and retail traders make. The 8ma crosses Read more [...]