Yesterday was a really interesting day. Since we launched the options training program, I’ve been driving up to SMB from my home in Philadelphia almost every Wednesday. I certainly have valid business reasons to be up there each week but honestly, my main motivation, is that I just love the environment. I really enjoy hanging out with other traders and … Read More
Free Options Webinar: SMB’s Options Tribe: Tuesday, September 20, 2011 at 5pm EDT: Earnings Plays Using Calendar Spreads
Tuesday September 20, 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
Chunking, trading and the fast track to improving
Some mentees require/deserve more attention from me on a daily basis. One exercise we do together is an end of the day review. They send me a review via email. I respond with an email or a closed-door one-on-one session. Take a look at the review below because it is very helpful for the developing trader to recognize how this … Read More
Mental Rehearsal
At the beginning of each AM Meeting I spend some time discussing the bigger picture in the market. Today the focus was on signs that the market may have put in a short term bottom and that I wanted to be mentally prepared for a significant up move. I discussed the downtrend that began in early August up through the … Read More
SMB Radar – Set Up In $MJN
Here is a great example from today on how we use the Strong Today column on the SMB Radar. The Strong / Weak Today list is one of my favorite outputs of the algo on the Radar. I like to constantly look through the lists in search for good set ups. I want to find a stock that is In … Read More
A Case of Bias Conflictus on SOA
This is a guest post from a young trader, CP Bias conflictus is a condition that can interfere with proper reads on stocks in a tape reading environment. This bias, for whatever reason, holds sway over the the obvious information on the tape. Seems a case of the ‘irresistible pull of irrational behavior’ (check out the book ‘Sway’ by Brafman). … Read More
Forex Correlation
Correlation is used as a formed of assurance when making a trade. It is used as a second and ultimate decision to open a trade depending on your trend direction. At major decision trading levels, you can find more than one pair or index following the direction according to your set up; therefore the need to have correlation is of … Read More
When do YOU sell (SOA)
This Open I kept saying,”For some reason SOA is working.” Above 14.62 the top of the opening range was my first entry. And above the consolidation at 15.10 was my second. “SOA continues to work for some reason.” Steve quipped SOA was the best stock we mentioned in our AM meeting. Like many traders he then found a moment of … Read More