The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Trading Quote of the Day – July 5, 2010
“You learn to distinguish the good traders from the bad, the successful techniques from the unsuccessful, and the good habits from the faulty. You also learn to distinguish the lover from the fighter, the winners from the losers, the serious from the frivolous, the cerebral from the superficial, and the friend from the foe. But above all, you learn that … Read More
In Pursuit of Happiness as a Trader
Why do we trade? A majority start mostly to make money. In its best form to provide financial stability for their family. In its worst to mask some personal insecurities. Or maybe neither and trading is just something you are doing because life offered this path and you started walking. “Trading is a zero some game,” say many. And if … Read More
Trading Quote of the Day – July 2, 2010
“The way to build superior long-term returns is through preservation of capital and home runs…When you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig.” Stanley Druckenmiller
SMB Morning Rundown – July 2, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Be Like Travis
I talked with a recent college graduate the other day. Nice kid. Well dressed. Polite. From one of those upper middle class lacrosse playing Long Island towns. On paper an excellent fit for most trading desks. This young man has no business being on a trading floor, considering being on a trading floor, or hoping to be on a trading … Read More
Be Careful When Your Routine Changes
I have a fairly set schedule each trading day. But on Thursday morning my routine changes as I have a pre-work obligation that changes my schedule. I generally arrive at the office one hour later than usual and do not run the AM Meeting. This change in routine has had some fairly negative consequences on my trading PnL. 90% of … Read More
Trading Quote of the Day – July 1, 2010
“One common adage…that is completely wrongheaded is: You can’t go broke taking profits. That’s precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits.” William Eckhardt