Snapchat- When to add size

Traders often want to trade bigger.  Today SNAP offered an example to me of when and how. I was short Shapchat ($SNAP) intraday and scrolling through the SNAP positions of our other traders on the desk. I felt like I was not big enough in my short. I started to think where I could add to my winning position. First, … Read More

A Trade to Master- $RIG

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 … Read More

The happier Toronto trader

I am an hour away from my presentation at Quant Invest Canada and instead of preparing I thought I would share some thoughts from a few meetings with Canadian traders with whom I met.  I take the Coach K approach to presentations.  If you cannot get up there and speak on a subject without notes then they probably should not … Read More

The Opportunity for a Prop Trader

@DynamicHedge wrote a must-read piece recently that went viral, “Letters to a Young Trader”, in which along with buckets of awesome advice he also asserted prop trading shops are dying.  This is true.  But this is not the same as prop trading is dead and/or ALL prop shops are dying.  That would not be correct.  The author never stated this but … Read More

One Easy Trade (ANF)

After our 11AM Open review a trader approached my desk. “Bella can I ask you a question?” “Yes.” “Do you think I should add here to ANF?” (Abercrombie & Fitch Company) I looked at the chart, saw it trending cleanly above the important 41.50 technical level, spotted a target entry at 42.11 and a definable exit at 41.94, found room … Read More

Copy this trader (episode 2): An SMBU Blog production

Yesterday in our first series of  “Copy this trader” we highlighted the best practices of an SMB Trader to copy.  We are back at you with some more goodness from the desk. continuing to focus on whats working for me which is finding the sector thats showing relative strength or has fresh news and finding the sympathy plays in the … Read More

Copy this trader

A decent day for me to start the month of February. I have experimented a lot of new trading techniques today, and added more elements to my trading. For example, trading a high beta, in-play earning stock like AMZN. In fact, 1/2 of my daily P&L was generated from AMZN today. 178 was the pre-mkt level we had discussed in the … Read More

This is How You Make More Money

I tweeted on the open: A pattern to master for the open: The Opening Drive. See STX in the first ten minutes this am. My inbox is dominated with trading reviews of SMB Traders thirsting to make more, blog readers the same, and new traders looking for the path. Well here it is. The clean, trending STX. I traded it on the … Read More