Archive for February 2015

Eight Weeks To More Mindful Trading

Feb 28th, 2015 | By | Category: Bruce Bower, General Comments, Health and Trading, Trader Development, Trading Ideas, Trading Lesson, Trading Psychology
Eight Weeks To More Mindful Trading The topic of mindfulness has exploded in popularity in the broader public. Meditation and meditative activities like yoga are seemingly everywhere, building on the runaway success of books like Eckhart Tolle’s The Power of Now. This whole interest in mindfulness has only just started to filter through into the world of investing and trading, where I think that it can make a substantial difference. At its core, mindfulness is about paying attention better—to your surroundings, to your thoughts and emotions and to the markets. There are numerous books on how to cultivate better awareness, Read more [...]

When to be Hard on Yourself as a Trader (SMBU Daily Video)

Feb 27th, 2015 | By | Category: General Comments
In this video, I outline one of our best trades of the month in $GENE, and more importantly, what we needed to learn after that huge trade. And I question why many traders are so hard on themselves when they are stopped out on a losing trade. It can sound like this after one of these losses: "How could I be so stupid!" "I am never trading this stock again!" "Expletive deleted (followed by) expletive deleted (with another) expletive deleted." You get the idea. Professional traders think differently, as I explain in this video. The stop outs are inevitable. Leaving money on the table with their best set ups Read more [...]

Open Your EYES!

Feb 27th, 2015 | By | Category: Steven Spencer (Steve's) Blogs
Take a look at this daily chart for EYES. In the past three months one day in particular stands out. Something that is "not like the others" from a price and volume perspective. What does that day signal? What sort of price action would you look for following a day like that? What trading setups and time frames would you use after that sort of signal? I invite our blog readers to offer their thoughts on this. Sometimes a blog can be more helpful as a place to discuss ideas among well informed and bright people than a one way information dump! Please share with others your thoughts on this stock as well as any trades Read more [...]

Trading Themes–Identify and Exploit Them

Feb 26th, 2015 | By | Category: SMB on TV, Steven Spencer (Steve's) Blogs, Trading Lesson, Trading Theory
In this video I discuss the concept of "market themes". Each earnings season may present a different theme. By identifying a theme early we are able to put on more risk for setups that are working now. This video was originally intended for those who have registered for our Free Daily Video but the topic is important and timely. I hope you enjoy this trading lesson and keep these points in mind if you are looking at trading CRM in the coming days. 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 Read more [...]

SMBU’s Options Tribe Webinar: Seth Freudberg To Host a Panel of Options Tribe Trading Contest Leaders

Feb 26th, 2015 | By | Category: Options Education, Seth Freudberg's Blogs
Today, Options Tribe contest leaders will be reviewing their winning trades for January and taking questions from webinar participants. These are excellent traders and this is sure to be an important learning experience for all concerned. Read more [...]

This Price Action Often Leads To A Sharp Down Move

Feb 25th, 2015 | By | Category: General Comments
In today's AM Meeting I highlighted a short setup in Apple. It was based on the prior day's price action. This pattern not only applies to AAPL but to the market more broadly and is important to learn. When the price action on the Open confirmed my short thesis I entered an automated script to get short between 131.30-131.50. Downside target of 129.60 based on recent support. Blow off move would be down to 128.50-129 based on 2.50-3 point moves AAPL has had past few months when hammered. I covered my short into 129.60 as I was heading for a quick trip down to Florida to escape this brutal Winter. Each morning we highlight Read more [...]

Game Plan Review–$FSLR $SPWR $AAPL $MU $TOL $HD

Feb 24th, 2015 | By | Category: SMB on TV, Steven Spencer (Steve's) Blogs, Trading Lesson
Each Tuesday after the market close I spend some time reviewing trades from our pre-market game plan. The game plan is shared every morning with traders on our desk and SMB Trader 90 members. One of our 7 trading fundamentals is "proper preparation", which means having a process for selecting stocks to trade each day. Our AM Meeting is one way we help young traders develop this skill, and also offers more experienced traders a way to get additional trading ideas each morning as well.   Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex Read more [...]

The Value of Building a Trading/Investing Network

Feb 24th, 2015 | By | Category: General Comments
On the top left hand corner of one of my 6 trading screens (and above the ice tea with lemon) stands a list of professional traders that I follow on StockTwits and Twitter. This is my intraday trading social media trading network.  I need it to make better trade decisions- as much as my ice tea or perhaps your ice coffee. On my main screen (lower middle) there are often 5 separate chat windows open with traders, with whom I am communicating in real-time on our desk. Our trading desk encourages the free-flowing of trade ideas between traders so we all have more trading opportunities.  In fact, just yesterday a young trader Read more [...]