Newer traders usually are faced with similar information early in their learning curve. Much of it revolves around traditional sources of information: charts, fundamentals and news reports. People are conditioned to believe that these sources of information are accurate, reliable and actionable. They base their trading decisions on such information and often wonder why they cannot find consistency in their … Read More
NFLX Pre-market Analysis
I wanted to share this clip from today’s AM Meeting. It is a reminder that stocks can go MUCH FARTHER than you expect. Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is [email protected]. No relevant positions
Forex: What’s In Your Process?
Recently I sat through an excellent presentation about trading psychology. One thing that I learned about the best of the best traders is that their most common trait is something called “process”. Process is just another name for routine. It took me a very long time to realize how important this one concept is for the developing trader. The main … Read More
Don’t Quit Your Day Job to Turn Pro Trader YET
Mike, I recently read an interview you gave in YTE magazine a few years ago. I subscribed online and have been reading previous interviews etc. Your interview offered some great perspective to a new trader like myself. Although I work full time for a REIT here in PA, I am absolutely obsessed with trading and wanting to be the best … Read More
I Was Captain of the Mathletes
In high school I was captain of the Mathletes. Once a month we would travel to other schools and compete against their top math geeks. Many of the problems we were asked to solve appeared to be complex but often contained what were simple solutions. In math and in nature things that appear highly complex often can be reduced to … Read More
My thought process for TRV
Today I live tweeted @stocktwits and traded TRV. Below are my tweets and an expansion on my thinking. I have attached the intraday chart for your review as well. –What I saw here was auto buying at 78.60. Anytime someone offered 60c that offer was cleared immediately. We say there was a “hunt order to buy” at 60c. Once an … Read More
CNBC Made Me Do It!
Here is an interesting comment from a reader in response to my blog post “My Thought Process: LIFE” Steve, Thank you sir for your thoughts. I constantly look for your tweets during the day. I don’t know why I bought so many books in the past. I have learned a lot from your generosity. I turned LIFE green into red … Read More
My Thought Process: $LIFE
It isn’t my regular practice to “Live Tweet” when I’m involved in actively managing a position. By nature I am not a good “multi-tasker” (don’t get my girlfriend started on that topic 🙂 ). But LIFE was so In Play today that I wanted to share some of my thoughts and actions right as the market opened for trading. So … Read More