A guest post from one of our summer interns, Chan, practicing his trading skills on the demo while back in school. I interned at SMB this summer and left with a lot of information and skills. I was taught a lot of things, I learned how to read the tape, the psychology of trading, how to control my emotions while … Read More
The nice thing about communicating at a desk (PEP)
A guest post written by trainee SW: Communication is one of the 7 fundamentals taught here at SMB. The nice thing about trading here is that traders are always sharing ideas and learning from one another. Today was not an exception. I was involved in PEP shorts in the morning. However, PEP couldn’t hold below the 62 level from yesterday. … Read More
RIMM RIPper
I have blogged about RIMM a bunch of times in the past three years. In fact, I remember someone writing a comment after a post one time that the SMB blog only discusses five or six stocks including AAPL, FCX, RIMM, and CAT, to which I retorted poppycock! We discuss the stocks that are In Play. RIMM was probably my … Read More
Some cool things about working at a prop firm
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
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
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