GMan and I revamped our trading journals and the SMB trading journal on a 9 1/2 hour car ride home from the Outerbanks. And this has helped. For me my trading journal helps me to focus on my monthly and daily trading goals. I start each morning writing down my goal for the day. So my day is just a … Read More
Piker High Bid and STJ (From the Mailbag)
I received this comment about my last blog Second Day Play- STJ. Let’s discuss. Bella Very interesting and insightful blog post, i have some questions 1.Why did you not get long as mr.piker high bid stepped up, does that not indicate that break above 34.00 is more likely? 2.like you said the upper range from the prior day is 34.25, … Read More
STJ- Second Day Play
Yesterday I traded STJ for most of the day. I learned that 33.60, 34.25, and 34 were important levels. Essentially STJ traded in a range for most of the afternoon yesterday 33.75-34.25. Then into the Close STJ broke down and traded down to 33. So what can we learn from yesterday to help us today? I have a play for … Read More
Ten Observations From StockTwits Camp
On Friday I sat on a panel at StockTwits Camp at the NASDAQ MarketSite to discuss Reading the Tape. I was joined on the panel by @tickerville, @stevenplace and @howardlindzon. Here are my ten observations from Friday: 1 ) @stevenplace is GINORMOUS. 2 ) @tickerville is so smooth he could replace Brian Williams on NBC at any moment. 3 ) @howardlindzon has … Read More
Good on Paper (GOP): Be Respectful
I just handed in my manuscript for One Good Trade to Wiley. I am relieved to have this behind me. During my editing process I discarded some humorous anecdotes that just did not quite fit with my book. I thought you might enjoy this one interview I had with a prospective prop trader candidate. GOP: Be Respectful This next interview occurred … Read More
From the Mailbag – Part 4
I received this email from Reader Josh. This is a very interesting dilemma he finds himself in as a new trader. For SMB Readers do you have any advice to offer Reader Josh? Hello Bella, I believe my question is geared towards adjustments. I am 25 years old. I have been playing poker and making money in it since 2004 … Read More
The Cost of Fading Strong Stocks
Into the Close I sit, trade, and also must watch what our traders are doing on my Admin screen. It is my job to make sure they are not violating market fundamentals. And I saw this on a few trader’s screens: -1000 AIG -1600 AIG This is an example of breaking a market fundamental. We do not short strong stocks. … Read More
Trading AND…
IEL sits at his trading station staring at his screens ready to pounce. GMan sits at his much larger trading station (he is the Head Trader) watching every tick in the market, with his hands on his keyboard. Scuba sits patiently processing every bid and offer in ARNA (even though he is a Partner). And then some others trade AND … Read More