A new trader sent me his thoughts on his CTXS trading today (see chart below). Here is what I really like about his trading: a) He was in complete control of his trade. b) He does an excellent job of finding a way to be bigger for the next time he sees a similar set up. c) He is … Read More
Getting Started as an Active Trader
I was asked to speak at the TraderExpo next week by LightSpeed on this topic: Getting Started as an Active Trader. Here are my bulletpoints on what you need: 1. Domain Knowledge 2. Intrinsic Motivation 3. Critical Feedback 4. Purposeful Practice 5. Luck 6. Talent 7. Growth Mindset 8. Your PlayBook 9. Value-Add Environment 10. Mentor What do you think … Read More
SMB Webinar: Breaking Down Recent Trading Setups
SMB Webinar with Steven Spencer
SMB Morning Rundown – February 14, 2011
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Morning Thoughts 2/14/11
Good Morning traders, World markets are mixed this morning. Asia sharply higher 1.2% to 2.7%. Europe is a little soft this morning, down an average of about 0.8% (broad European index -0.5%). We do have some decent sized moves in currencies to start the week: the Euro is weak (EURUSD EURJPY EURCAD all down) and NZD is weak. With the … Read More
Irrational Pessimism
While being irrationally exuberant over a short winning streak of options trades leads many traders to recklessly ramp up their capital levels leading to devastating, or even fatal, losses, there is an opposite problem, which is not necessarily fatal, but certainly leads to futility. “Irrational pessimism” is when you lose confidence in your trading strategy when there is no good reason to … Read More
Traders Ask: What’s the Best Setup for Newer Traders?
Adam answers a reader’s question about the best trade setups for new traders to start with.
An Opening Dive, a Pullback and a Breakout (RL)
We had excellent news from RL this AM: Here are some trades you might consider making your own: 1) Opening Drive. If RL doesn’t tick down on the open and their is protection on the bid, then pay the offer and play the momentum. 2) The Pullback. So you missed the opening drive and still want in with this RL. … Read More