Posts Tagged ‘ day trading class ’

Would You Make This Fade Trade? $APOL

Jan 10th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
I received this trader question via email on fade trading.  Here goes: After the (well-known trader coach visit) meeting, I've come to realize I don't ask enough questions from the people who are more experienced than I am. Today was a dull day, lost about $150, I don't have a lot of talk about except this APOL trade. I'd like to know what  you think about how I traded this APOL trade: my idea was to get long on any kind of failure test of the 52 week lows and position myself for a short-covering bounce. the 52 week low was 18.36. the pre-market low was 18.62. the stock made an opening low of 18.52, which i thought was Read more [...]

Should This Trader Make a Comeback?

Jan 5th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
Below is an interesting trading anecdote I received via LinkedIn.  I asked the writer if I could share his trading experience with our community.  He agreed.  The names and places have been changed for compliance reasons and we have no interest in saying anything negative about anyone or any firm on this blog. What I find interesting about his note is: 1) Good traders are not always good teachers. 2) Trading strategies that worked in the past may not going forward. 3) Trading is a tough sport 4) Some catch a bad break and start during difficult market conditions.  One of the first lessons we were taught at my Read more [...]

A Trade to Master- $RIG

Jan 5th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade.  This was his Trade Management slide for the trade.  There are some lessons here. 1) Great job being in the best stock yesterday for intraday traders, RIG.  You are only as good as the stocks you trade.  This was a stock with opportunity. 2) The Trend Trend Trade is a powerful trade for the new trader.  This is one of the first patterns you should learn.  First work on taking as much as you can from a basic set up like this before moving to more difficult set ups. 3) I would take issue with some of his stops, but this Read more [...]

Why I got long FDO

Jan 3rd, 2013 | By | Category: General Comments
FDO gapped down and then made a sharp downmove on the open.  I caught some of the downmove with a Momentum Trade.  But then the momentum short was over and I had a decision.  Do I look to trade $FDO for a bounce or for a continuation move?  I chose the former and will explain w1hy. The market has been strong of late.  Even before Congress passed its bill averting the Fiscal Cliff the market has shown great signs of strength.  When we are in a strong market stocks are more likely to bounce.  When we are in a strong market REAL STOCKS are more likely to bounce.  FDO is a real company, a real stock.  Also when stocks make Read more [...]

The Biggest Question for a Trader

Dec 3rd, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Hi Bella,                   When I started out to go day trading, I feel as though I have wasted allot of money and time on so-called “education”. I can tell you that I have spent over 10k in it. A friend recommended (********) to me and I took their course. They made it seem so easy with patterns and MAs. It is sad that there is no way of telling who the real deal is and who the fakes are. I feel now that being able to read the tape is a must. Right now it is one step forward and two steps back. Now I know the only way to tell if a supply or demand area will hold; is to be able to read the tape and Read more [...]

Do not say Practice

Nov 20th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
I end most emails with: "Keep working on your trading game."  We teach our traders to do the daily work each day that helps them improve.  They are training to become consistently profitable traders (CPTs).  Their ultimate goal is to become a your best trader (YBT). Apparently I could use better words to motivate my traders. Dan Coyle, author of the Talent Code and the blog with the similar title writes that we should not use the word practice as coach and mentor.  It is not understood in the field of performance science why some are more motivated than others.  Some can practice for hours daily and never lose their drive Read more [...]

Reading the Tape Questions and Trading from the Middle East

Nov 4th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Dear Bella, I can’t find the words for thanking you and the folks at SMB for the great free educational staff you post daily on your blog, I just can’t. I want to thank you also for the great course of reading the tape I have taken , It didn’t teach me how to read the tape it did taught me how to really trade, what a course! Thank you for teaching me how to read the tape Bella. -          I have a question: after opening a demo account with ($$$- deleted for compliance reasons) Trading, their platform has blue prints in the time and sales, describing it as an Irregular trade which sometimes is transacted Read more [...]

The High Motor Trader

Nov 4th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
In basketball they look for a player with a high motor. This means a player that can defend with energy, get through screens, win loose balls, beat his man up the court, help on defense, beat his man off the dribble, etc. The player exhibits a lot of energy in many different facets of the game to help his team win. Oh man, whatever you think of Coach Cal you ought to check out ESPN All-Access of UK men's basketball if you are interested in elite performance. In the video above the value of the high motor is explained. We have this in trading as well and it is a skill you should work to develop more. What does it mean to be Read more [...]