Why I Bought TSLA Today at 98
June 10th, 2013
I sat down at my trading desk at 7:45AM and noticed TSLA was down off of the negative article in Barron's, near a nice technical level at 98, and I bought it. I shared this with the trading community.
As TSLA started to work from this 98 level I added. I shared this with the trading community in real time.
As TSLA approached my target of 102 I scaled out of half of my position. I shared this with the trading community in real time.
Last week TSLA acted very well and showed me strength into Friday's close. The Barron's article provided me with a buying opportunity in a strong stock. When a stock has been strong, buying on a negative news article at an important technical level Read more [...]
Training Session with Steve Spencer: Three Trades on $TSLA
June 10th, 2013 The price action in $TSLA from the past six trading days does a nice job of demonstrating three distinct types of trades. Not all trades makes sense to all traders. But if as a trader you can figure out which of these trades fits your personality best and then build a detailed trading plan on how to attack it next time it occurs you can start to improve your consistency. Most of the experienced traders Bella and I have interviewed over the years who are struggling do not have a well defined playbook and this is the primary cause of their widely varied results. Trade 1 (May 23): Consolidation Break Swing Trade Trade 2 (May 29): Momentum Reversal Trade Trade 3 (May 29-May 31): The Range Trade Today, Read more [...]SMB Forex and Futures Weekly Analysis for 6/10
June 10th, 2013 In this segment Marc Principato, CMT analyzes possible price action scenarios for the S&P 500, EUR/USD, GPB/USD and AUD/USD. This analysis is good for the week and focuses on larger time frame opportunities. To learn more visit: bit.ly/smbhome -- Marc Principato, CMT, Risk Disclaimer *No Relevant Positions SMB FOREX Trade on your own schedule Learn SMB′s Unique Strategy Trade Confidently in 6 Weeks Click here for a free trial of our chatroom Read more [...]Were You Too Bearish After the Jobs Report?
June 9th, 2013 Were you too bearish after the jobs report this Friday? Let's set up the scene for Friday's trading. We had bounced from 160 SPY to 163ish before the report. Then the pundits and traders began to battle at the 163.50 level. At first it appeared the buyers had won sending the market towards 164 SPY, but as traders we knew this was an important technical level. So a move up to here was not yet confirmation it would be a trend higher day. We needed to clear 164 SPY as well. SPY seemed to double top just in front of SPY 164 R (resistance) and then broke below 163.40, a level it failed to crack multiple passes on the open. Was this a shorting opportunity? On most trading days Read more [...]The Power of Deliberate Practice for Trading
June 9th, 2013
Mike,
I’ve recently been in touch with SMBU regarding the SMB Foundation/Trader Development program and will be starting, military hours permitting, in the next couple months. I read your book (One Good Trade) and listened to any videos/interviews I could get my hands on that had SMB Capital in it and, and after taking your advice from your book, I began to more actively listen. In doing so, I came across one video in particular in which I could hear you loud and clear. “Two books were pivotal in helping us mold a lot of our training programs, methodology, and paradigms: Talent Is Overrated and Outliers”. Those weren’t the exact words you were using but it was as though you were shouting Read more [...]
SMB Forex and Futures Weekly Trade Review 6/7/13
June 7th, 2013 In this segment, Marc Principato, CMT demonstrates how a trade in the EUR/USD is taken using volume analysis in conjunction with our pattern recognition methodology to realize a outsized reward to risk ratio. To learn more visit: bit.ly/smbhome -- Marc Principato, CMT, Risk Disclaimer Risk Disclaimer *No Relevant Positions SMB FOREX Trade on your own schedule Learn SMB′s Unique Strategy Trade Confidently in 6 Weeks Click here for a free trial of our chatroom Read more [...]Recording: Andrew Falde: Introduction to Three Dimensional Channeling
June 6th, 2013 SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by veteran options traders and experts in the world of options trading. Andrew Falde has worked with a group of options traders to research some more active trading strategies based on the LRC Channel. Seth Freudberg Director, SMB Options Training Program The SMB Options Training Program is a twelve month program designed for novice and intermediate level options traders who are seeking an intensive training process Read more [...]One Stock, Three Trades: $TSLA
June 5th, 2013
(This post was written on June 1, 2013)
The price action in $TSLA from the past six trading days does a nice job of demonstrating three distinct types of trades. Not all trades makes sense to all traders. But if as a trader you can figure out which of these trades fits your personality best and then build a detailed trading plan on how to attack it, next time it occurs you can start to improve your consistency. Most of the experienced traders Bella and I have interviewed over the years who are struggling do not have a well defined playbook and this is the primary cause of their widely varied results.
Trade 1: May 23 -- Consolidation Break Swing Trade. After three hours of consolidation Read more [...]
