For our Russian speaking traders, check out a translation of some of our blog posts: myidealtrade.blogspot.com Don’t forget to follow us on Twitter!.
A Must Read: The Daily Trading Coach
The first time I met Dr. Steenbarger was in the smaller conference room of our proprietary trading firm in NYC. We were finalizing our training program and we wanted the best teacher that we knew to review our work. He wasn’t being paid, he was just a trading coach offering a helping hand. As Dr. Steenbarger offered his critique I was … Read More
Don’t Overthink the Market
Saw a lot of tweets about whether the market could trade higher this afternoon. Chirp! There were the call outs that volume was light. Chirp! Some pointed at the financials not rallying. Chirp! Others highlighted the weakness in V, MA, JPM, etc. I have to share a funny story. One of the smartest guys we have traded with … Read More
Fundamentals
Trading is not just about reading charts, or reading the tape. We also must understand the market’s and a stock’s fundamentals. We are not fundamental traders but we use fundamentals to help us increase our win rate. For the intraday trader we use fundamentals very specifically. Let’s discuss. We used fundamentals to help us profit in JCG yesterday. Yesterday JCG … Read More
The Face of a High Short Interest
Before I trade a stock I check its short interest. Why? Because it may affect how the stock trades. Simply, the higher the short interest the more buyers there may be intraday. 26 percent of the float is short JCG. I considered this with my every trade today. Let’s discuss. In our SMB AM Meeting we discussed 25 as resistance … Read More
Sabotage
Today on the desk I heard,”Oh that MON is so hard.” And it was at times. In fact it was very difficult about 90 percent of the trading day. But it was not hard. There were three simple trades that if made would have left even the average trader profitable. Let’s discuss. At 82.75 the offer would not lift in … Read More
Growth
Today is a good day to sit around and think about how we will improve as traders. Between the barbequed chicken, Cavs/Magic game, summer beers, and crazy relatives there is some time to reflect. Back in the day I would be someplace like Hilton Head, with a rental on the ocean, on an immaculate course, thinking about a new club … Read More
One Trick Pony
I get too many emails from, I meet too many people who, I hear of too many stories of traders who live off of one play. Commonly this play is as follows: a trader sees a big bid and they step in front or they see a big offer and they step in front. This is my definition of scalping. … Read More