Below is a great example of what you might learn in your first weeks of trading. Hi Bella, Friday was my second day trading live. So far I’m up $72 on day one and up $72 on day two. I could have done much better on Friday, but I chipped back bits by bits during the mid day. I wrote … Read More
SMB Radar – Trade Reviews
This month SMB will be reviewing Radar generated trades that are sent in by users. The purpose of this is two-fold. First, it will give Radar users the chance to really understand how to use the tool properly. The Radar has a number of outputs, and changes throughout the day. Understanding how you could have better managed a Radar generated … Read More
SMB Radar Update for August 5, 2011
A little different today. A partial view of my favorite SMB Radar columns. Figured it’d be a good change of pace considering the 50 handle range in the market. Keep in mind these are moving at a much faster pace today. Good Trading
Trader’s Ask: Why did I hit my stop much earlier than I thought I would yesterday?
I had an interesting meeting yesterday evening with SMB’s options trainees reviewing yesterday’s meltdown and the affect it had on their options positions. We spent the whole meeting dissecting trades that the options trainees had made during the day. breaking down what went right and wrong with each one and why. It was a great meeting–real traders faced with the … Read More
Free Options Webinar–SMB’s Options Tribe: Today at 5:00 PM–Multiple Monthly Butterfly Strategy
Tuesday August 9, 2011 at 5:00 pm Eastern Daylight time SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by outstanding veteran options traders and experts in the world of … Read More
When you deserve to be screamed at as a trader
A partner looks up at his scoreboard, which tracks the performance of traders, and sees one trader particularly in the Red. And it’s getting worse. He clicks on the trader’s ID and sees an open long position 1 point out of the money. The market is broken bad below SPY 125 on the Open. What’s worse is the firm has … Read More
You might not be so good at dodging bullets the second time around
In our options training program, we spend a good deal of time working on high probability iron condor strategies. A high probability iron condor is one of the simplest and most popular options strategies, but it also, in my opinion, is one of the most dangerous. As with most dangerous strategies, it is a deceptively attractive and simple trade. An … Read More
Traders Ask: How Do I Develop Conviction?
I have a question for you: Is conviction something you have to earn?? I know the question is almost rhetorical. But I listen to the older/experienced traders before, during, and after the market on the Virtual Trading Floor and I hear the word conviction getting thrown around a lot. Especially when I’m listening to Marc Sperling. When Sperling is doing his … Read More