I traded VMW on the Open. Home of the impossible 5 million shares and no liquidity. If anyone is into the whole HFT conspiracy/they are evil dogma replay this tape. Let’s see if we can learn from this rip. 83 was a level from the open. It was a level from the premarket and afterhours trading. There was resistance on … Read More
I Blog I Learn
Michael Martin from MartinKronicle.com wrote: Some of the most insightful things I’ve learned have come from students who didn’t know their backsides from a hole in the ground, but had the guts to ask questions that were way outside the box. And those questions got me thinking. As a teacher I’m better for those questions b/c frankly, I wouldn’t have … Read More
Three Good Trades in CLDA
1. Buy 23 with a stop of 22.89 There was too much buying near 23 on the bid. The buying was VERY different on the tape. CLDA was still firmly positive for the day. Was this the possible bottom? I kicked some out at 23.60, some above 24 and sold the rest below 23.80. 2. Buy 23.60 with a stop … Read More
Exercise and My Trading
Before I started SMB I could be found after work for hours playing pickup basketball at the exclusive Reebok Club in NYC. I loved the competition, the guys who played regularly, and trying to get better in my early thirties at a sport I enjoyed. It also left me in remarkable physical condition, just a few pounds from my high school … Read More
Is Trading Your Passion? (a Quiz)
I’m often asked what I most look for in a future trader. I answer, “A passion for the markets.” I advise all who receive an invitation to join our firm to politely decline if you do not have a passion for the markets (they may have tricked us 🙂 ). I implore those considering trading as a profession to spend some … Read More
Find the Setups That Fit Your Personality
“My style on the chessboard was a direct expression of my personality.” And then: “I believe that one of the most critical factors in the transition to becoming a conscious high performer is the degree to which your relationship to your pursuit stays in harmony with your unique disposition.” These quotes are from The Art of Learning: An Inner Journey … Read More
A Trade from Brazil
A Reader from Brazil shared this trade that he made today. He uses some principles learned from One Good Trade and the SMB Blog to find this set up. Often we are asked if our trading principles apply to other products. I am most asked if Reading the Tape applies to other markets. That is up to the individual trader … Read More
Which is the Better Stock to Trade? (Part II)
Yesterday we asked which was the better stock to focus on into the close: RIMM or MOS. We asked readers to start at the 3:15PM mark and offer their opinions. This was a real life stock selection decision to be made into the close. Some of our guys were more focused on MOS or even V and not so much RIMM. … Read More