Last month I wrote a post about SMB Fundamental #7–Reviewing Your Important Trades. Today I would like to discuss #1–Proper Preparation. All trading success begins with proper preparation and that is why it is #1 on our list of trading principles that must be followed for each trade. Part of my morning pre-market preparation is to review the price action … Read More
Free Options Webinar: SMB’s Options Tribe: Tuesday, January 24, 2012 at 5pm EST: Crude oil options and “edge”
Tuesday January 24, 2011 at 5:00 pm Eastern Standard 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 veteran options traders and experts in the world of options … Read More
The easiest trade of this open (STT)
Scanning the market universe on the open STT, State Street Corporation, caught my eye. 1) I liked that it was down a lot 2) I liked that after the open it showed an ability to move away from prices 3) 40/39 were levels on my long term charts so it still had room to trade lower 4) There was a … Read More
Technicals Trump The Tape in Financials
We consider three things when making an intra-day trade: The Tape, The Technicals, and the News. How each of these factors is weighed depends on the particular setup, the type of stock and current market conditions. JPM was the first large financial to report numbers on Friday. The numbers were not particularly good and it was showing weak price action … Read More
The CCL Trade
After the open we meet in our training room to review the open with some of our newer traders. We talked CCL, Carnival Corporation, for the midday and into the close. Before that we went over what we liked about CCL and what we didn’t. What we didn’t like: 1) Future bookings to probably decrease because of the accident. 2) … Read More
Free Options Webinar: SMB’s Options Tribe: Today at 5pm EST: Butterfly trading with deep ITM calls to control deltas
Today at 5:00 pm Eastern Standard 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 options trading. This … Read More
One day in the life of a pro trader
I received this email from a new trader disappointed. I chuckled when I read it. Man have I felt like this trader like every year of my career 🙂 I really got my a$$ handed to me the last two days. I think they are my two worst trading days in terms of net PnL. I basically gave back all … Read More
Free Options Webinar: SMB’s Options Tribe: Tuesday, January 17, 2012 at 5pm EST: Butterfly trading with deep ITM calls to control deltas
Tuesday January 17, 2011 at 5:00 pm Eastern Standard 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