The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Morning thoughts 2/11/11
Good morning traders, Very little has changed this morning–I could pretty much cut and paste my comments from previous days. The market is locked in a higher timeframe consolidation, and there are two key elements short term traders must keep in mind: 1) in this type of pattern low volume, choppy trading predominates and 2) breakouts from these areas tend … Read More
I Had My Worst Day Ever
From time to time I get an email from a trader whose results were awful. They might say: Bella, I had my worst day ever. I sized up and got crushed. Or Bella, I had my worst day ever. I took my biggest rip ever. Or Bella, I had my worst day ever. I got stopped out on one trade. … Read More
Pre-London FX AM idea
Sitting down here waiting for some action out of Egypt news to play out. Waiting for the $EURUSD to start making news lows through the Asian session to get serious about the short. In the daily chart below you can tell there are defo some longs caught once we start to take out lows. Playing shorts into London aggressively below … Read More
Irrational Pessimism
While being irrationally exuberant over a short winning streak of options trades leads many traders to recklessly ramp up their capital levels leading to devastating, or even fatal, losses, there is an opposite problem, which is not necessarily fatal, but certainly leads to futility. “Irrational pessimism” is when you lose confidence in your trading strategy when there is no good reason to … Read More
A Path to 1k
Yesterday we challenged some new traders to review their day and create a path to 1k. Making more is about finding the set ups that make sense to you and trading them with more size and more often. This exercise guides the new trader to singularly focus on these trades and the mindset of doing better. One new trader sent … Read More
SMB Morning Rundown – February 10, 2011
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Morning thoughts 2/10/11
Good morning traders, For many, many weeks, the pattern has been that every dip is bought. Every selloff finds ready buyers, and, so, there has been a complete lack of downside momentum on any decline. It is difficult to read a market that is consolidating sideways on low volume, so both bulls and bears are watching for a break of … Read More