Posts Tagged ‘ day trading course ’

Not So Fast

Feb 16th, 2013 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trading Lesson, Trading Theory
One of the more common patterns seen in a strong market are longer term players buying stocks that have gapped lower after earnings. Sometimes this plays out on Day 1 with momentum buyers aggressively buying the stock leading to a gap fill. But many times a gap fill will play out in the days following the earnings release once the longer term players have sifted through the earnings report and feel comfortable that a positive fundamental thesis for a company is still intact. It is important to pay close attention to price action and not be overly aggressive committing to a "gap fill" thesis until the larger players have tipped 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 [...]

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 [...]

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 [...]

Trader Disney Land

Nov 2nd, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Hey Mike,  I recently blew my profits gain from the past 3 months in one stubborn trade. And not I dare not go in again as I fear I could be wrong again and lost money. My system was right but my emotions was burnt. This is not the first time I lost a trade but somehow I couldn't pick up my feet.   Can you advise how should I pick myself up again? @mikebellafiore responds You should not be trading live if you cannot hit a stock that is trading against you.   You are not Jon Corzine.  If you want to know how I really feel about the financial media's invented trading heroes (like Corzine) check out my webinar with Read more [...]

We are forgetting one important change in our economy

Oct 18th, 2012 | By | Category: General Comments, Mike Bellafiore's (Bella's) Blogs
1. As @jheil said on Morning Joe yesterday, "The Yankees suck." 2. Are we undervaluing an important positive change to our economy?  That being: it has never been better to start a small business. If you talk to some of the biggest HFs in the US they are all preparing uniquely for the US fiscal cliff.  Worse yet the perfect storm of slowness in China, someone leaving the Eurozone and the US fiscal cliff contemporaneously.  When I was in Singapore the dip in GDP growth from the expected 8 percent to 7,7 percent brought worldwide anxiety and markets lower.  It is easy to see a Greek politician selling the exit from Eurozone Read more [...]