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 trading. In this presentation, John Locke provided a detailed example … Read More
AM Meeting March 14th – $SRPT, $VMW, $LNKD, $BBRY, $NFLX, $GMCR, $MLNX
*No Relevant Positions
Two Good Trades
There wasn’t much In Play this morning. EXPR was gapping lower in reaction to an earnings release. When a stock has a large gap from an earnings release the first thing we do is look for clues during the pre-market session for whether it will be a gap fill candidate or a continuation play. EXPR was trading actively in the … Read More
The Wicks Win ($WAG)
One thing I always try and remember when running a firm is this: trading is not very easy. The margin of error can be slight between great trade and stopped out. The trade below is a spot on example. I love how this trader keeps a PlayBook and then has taken the time to ferret out A+ trades from his … Read More
Forex: The Professional Trader is the Prepared Trader
When you turn on your computer each morning and you look at your favorite forex pairs, can you tell me exactly what levels you are most interested in taking action on? Can you give me a good argument as to why you would be looking for longs or shorts at these particular prices? If you can’t answer these two questions … Read More
The Time Stop (an Example in $YUM)
On our prop desk I encourage our traders to look for stocks that are trending, enter a Trade2Hold, and stay in the position if it is working until there is a Reason2Sell. SMBU offered a free Webinar on Reasons2Sell here. I discuss them in great detail in my latest book, The PlayBook. Below is an example of a Reason2Sell, a … Read More
Finding a Jungle Guide
It can be a rough and cruel world out there in the markets. The competition is high, people are cutthroat, and the markets are never easy. Sometimes it can feel like a feral jungle, with danger lurking everywhere. You want to give yourself every edge and extra chances to succeed, but what really makes the difference? Simple: A mentor. In … Read More
Tricky Dicky
It was a very quiet morning in the world of “In Play” stocks. The only two tickers showing signs of life in the pre-market were DKS and GNW. After reporting earnings DKS lowered guidance which was causing a large gap to a major support area around 46.50. We were prepared for a bounce from this level given the strong underlying … Read More