As intraday traders we can be hypersensitive to every tick in our stocks, sometimes to a fault. Been there. Totally understand. I am with you. Today in V if you did not give it a chance to run then this was a spot on example. Today was a day to give V a chance. I traded V in the afterhours … Read More
Not Convinced of a Reversal Yet
We closed below an important technical level 1080 S&P 500. I watch SPY and a close below 107.50 confirmed weakness. I traded from the short side today in SOHU, COF, and FCX. But I am not ready to lay into my shorts just yet. Let’s discuss. Tomorrow I will pick some market stocks and look for opportunities to short … Read More
Meet Mr. Catalyst (COF 42.30)
Not every moment is created equal during the trading day. I fought and grinded and fought some more in COF today. Some moments were more enjoyable than others. But there was one shining moment. One period of time that made all the difference. Meet 42.30. Say hello to the catalyst. It’s 10:45ish. My eyes are starting to twitch from … Read More
Making Intraday Trading Decisions
I am frequently amazed at how many people think intraday trading is all about Reading the Tape. I am more amazed at meeting too many who believe trading is all about reading some pretty charts. And I am also surprised at how few intraday traders embrace intraday fundamentals. Well that is a lot to be surprised about. When I make … Read More
Most Aggressive
Good traders pick their spots. Some opportunities allow us to be more aggressive than others. When we spot one of these opportunities we pounce, like a baseball player who takes a healthy cut a 3 and 1 fastball. If we fail to pounce then in our journals we must detail this opportunity so the next time we do. During our … Read More
One Good Trade: Inside the Highly Competitive World of Proprietary Trading
Thank you all for your suggestions for my book title. There is so much more that goes into writing a book than writing the book. Choosing the best title is one such example. BTW if anyone has not figured out my title yet see the blog title above. The working title had been The Way of the Prop Trader: Tools … Read More
Letting an IPO Run
“Bella I cut too early.” “Damn I cannot believe I sold that FSLR a point ago.” “I am such a wuss FSLR ran 3 points after I sold it.” I heard all of these statements on my prop desk today. Selling early is a constant struggle for all of us. One position that I let run is an IPO holding … Read More
Choosing a Book Title
I am now at the end of the process for my trading book with Wiley. My book discusses why traders fail and succeed as prop traders. It offers an inside looking into the highly competitive world of proprietary trading. I share what the market has taught me over the past twelve years. I introduce characters, traders some who have … Read More