Wednesday, May 25, 2011 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 week we’ll be demonstrating the “Heart Friendly” butterfly trade. Title: The Options Tribe … Read More
SMB Radar Update for May 20, 2011
With plenty of fresh news in the market, here are today’s top 10 stocks on the In Play column on the SMB Radar. This is the most important function of the scanner. The Radar uses a number of proprietary algorithms on a prescreened universe of stocks and processes every tick in search of finding stocks that are In Play. These … Read More
Traders Ask: What Do I Do About An Obnoxious Bid Ask Spread on a Butterfly Trade?
An Options Tribe Member asks: Given that we’re about 55 days out from the July monthly options expiration, I was playing with a July 770-820-870 put butterfly on the RUT (when it was trading around 840). Usually the bid/ask spread for ATM and OTM puts on the RUT is narrow enough, but the spread on the 870 put ($51.80 by … Read More
Using Your Strengths To Improve Your Trading Results
I had an interesting conversation after the close today with a newb trader who is attempting to become consistently profitable. I asked this very intelligent and competitive young woman what were her strongest qualities as a trader. The first thing out of her mouth was she was not afraid to let her winners run. She then added that she felt … Read More
Trading with a Bias: Unlocking Strategies to Overcome Market Challenges (Stock: WFMI)
(this post was originally written May 1st and refers to the price action in WFMI from 4/28/11) Let me start by saying as an intraday trader it’s ok to have a bias but your mind needs to be open to all different possibilities. A stock is gapping up, my bias would be long, gapping down my bias would be short. … Read More
Why BIDU Kicked My Ass Today
I lost money in BIDU today. I was trading it strictly on the short side. It opened at 137 and close at 131. Wow, you must thinking that this guy really has no idea what the heck he is doing. You might be right 🙂 Let’s review some of the things that caused me to lose money in it today … Read More
A Great Note I Received From One of My Mentoring Students
Seth – When I was in the military, I was assigned as the unit trainer (started with 70 soldiers). To give a little more detail, I was a lieutenant in a patriot missile battery. When we would train, it would be three different platoons in one confined area, all training toward one objective (getting our site, missile launchers, and engagement control … Read More
Forex lesson of the week
Intraday patterns both found in the EUR/USD and CFD’s USOIL. Psychological patterns after breaching levels of pull backs then finally reaching levels expected. 2 trades with the same (twin) psychological set up in the same day. View video below and don’t forget to add any comments. Feel free to email me [email protected] for more info!