Posts Tagged ‘ good ’

The sloppy, the good, the same trader

Jan 22nd, 2016 | By | Category: General Comments
Let me share actual trading events from our prop desk this week. It’s Tuesday, the market is selling off hard and Trader A thinks the market should bounce and VXX decline.  He fades the market and VXX all day for a net result of -10k.  Let’s call this The Sloppy (in his trading). It’s Thursday, the oil has sold off hard of late and Trader A thinks this commodity will rebound. He does nothing.  Then comes an important expected oil number.  Crude stockpiles had increased.  A decidedly bad development for the price of oil as supply was higher.  Traders would expect a lower move in oil. What happened?  Oil Read more [...]

Oracle Had A Fundamental Catalyst That Made It A Good Short

Jun 21st, 2015 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trading Lesson, Trading Theory
ORCL reported disappointing earnings after the Close on June 17th. The next morning it traded lower before rallying back $2 with the market. I had two reasons why I thought it would roll over again the next day. One, I believed the large market rally the prior day was the primary driver of its bounce from 41 to 43. Two, after large funds had a chance to digest the earnings release which showed disappointing subscription numbers they would sell, because SAAS is the only major catalyst for ORCL at this point which I am aware. The above graphic is from the pre-market game plan I write out each day so it is easier to follow Read more [...]

Ask Anything: Was Philip Morris a good stock to trade?

Apr 17th, 2015 | By | Category: General Comments
  Hi Mike, I am in college, as a Biology major, and have been on a trading journey for about three-four years. Learning a lot from a trading mentor, reading blogs/books, paper trading, journaling, realtime chatrooms, and free videos (like yours) has provided the ultimate growing experience in my personal development as a trader. I am trying to emulate the mindset of you and your traders by being in the right stocks. Today I paper traded, Phillip Morris (PM), it had an unexpected large earnings beat causing the stock to gap, I bought on 1 min. dip, near the opening low (risk 30 cents) to which it uptrended nicely Read more [...]

Forex Training: How Long Does It Take To Get Good?

Mar 27th, 2013 | By | Category: General Comments
I get this question all the time and it is a good question. People these days don’t have the time to invest years in this business unless it proves to be financially rewarding along the way. There are so many educators and so much information available today, yet it doesn’t seem to change the well known failure rate. So what does it take to get good? And how long? To begin to answer this question, we first have to define what “good” is. In my opinion, a good trader is someone who can grow their account consistently. It is not necessarily about making lots of pips or getting outsized returns like 50% per month. People Read more [...]

Two Good Trades

Mar 13th, 2013 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Technical Plays
There wasn't much In Play this morning. EXPR was gapping lower in reaction to an earnings release. When a stock has a large gap from an earnings release the first thing we do is look for clues during the pre-market session for whether it will be a gap fill candidate or a continuation play. EXPR was trading actively in the pre-market around 16, which is an important longer term level. In the chart below you can see that after falling below 16 EXPR was bought and established a pre-market uptrend stalling at 16.60 before pulling back and supporting at 16.20 establishing its first higher low of the day. As the market opened it drove Read more [...]

How Do You Distinguish a Good Trade From a Loser?

Jan 22nd, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
Hi Bella, I just read your recent post talking about the "All-In" trade on the SMB blog. Although my trading experience is limited (less than 3 years), I have on occasion seen these types of SEE IT trades. The most recent example was this past Friday in $LIFE. I know Steve kept the community in the loop that day & wrote about it on the blog, My Thought Process for LIFE. Just my personal take-away as to why that the stock was an A+ trade that day was via the tape. Buyers supported the $60 level with force early morning intraday. They sprayed the bid (hit the bid), yet it wouldn't drop $60, which to me offered a low risk/reward Read more [...]

“One Good Trade” Review by Jeff White

Jan 24th, 2011 | By | Category: One Good Trade
Jeff White of The Stock Bandit Trading Blog recently reviewed Mike Bellafiore's book One Good Trade: Inside the Highly Competitive World of Proprietary Trading. Read more [...]

My Book is Sold Out: A Social Media Tale

Aug 29th, 2010 | By | Category: Mike Bellafiore's (Bella's) Blogs
My book One Good Trade is sold out. This took three weeks. A rush reprint will be underway soon. Save a few exceptions, it is now only available on the Kindle. I was told, "This has never happened before with a trading book." This is a social media tale. I considered hiring a PR firm to rep my book before release, pitching all things traditional media. One charismatic and powerful NYC book agent explained to me that my project would only be worth her time if I became a star TV Talking Head. When she learned I wasn't the one from our firm regularly on CNBC suddenly she had to take another call. I left thinking- isn't it Read more [...]