A high-probability trading pattern that offers good risk-reward with clear risk management points.
The Next Classic Trading Books
Traders’ Library has found the next generation of recently published books that belong on every trader’s bookshelf. They include The Daily Trading Coach by Brett Seenbarger, Technical Analysis Using Multiple Timeframes by Brian Shannon, and SMB’s One Good Trade by Mike Bellafiore. You can find the list of soon to be classic trading books here.
Shorting MDT
We make trading decisions based upon three factors: intraday fundamentals, Reading the Tape, Technical Analysis. I traded MDT today using all three to start two shorts. These are trades that if I made 1000 times I would profit. Intraday Fundamentals We trade stocks with fresh news. Today we had new news with MDT: Co issues downside guidance for FY11, sees … Read More
HPQ BIDU and some JAZZ
Well its slow out there. This AM there were only a few stocks with fresh news. JAZZ was one of them. HPQ and the proposal of them potentially buying PAR was another. So I traded both. As I write I am also short BIDU. Let me share my thinking. JAZZ From Briefing.com: Jazz Pharma shares trading 30% lower following Friday’s … Read More
Reformed Broker Reviews One Good Trade
Joshua Brown from the Reformed Broker believes One Good Trade by Mike Bellafiore, currently the number one trading booking in the country, is more than just a trading book. He says the book is about process, the value of focusing on methodology in your daily tasks and allowing the end results to take care of themselves. Read the full review … Read More
Tadas Viskanta of Abnormal Returns TV Talks Trading with Bella
Yesterday, Mike Bellafiore, author of One good Trade: Inside the Highly Competitive World of Proprietary Trading appeared on Tadas Viskanta’s Abnormal Returns show featured on StockTwitsTV to discuss Bella’s new book and Market Stories. Watch the clip below and feel free to leave your comments on this blog. Abnormal Returns appears on StockTwits TV every Thursday at 8pm EST so … Read More
Bella Talks Prop Trading on TraderInterviews.com
Mike Bellafiore, author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading, joins Tim Bourquin of TraderInterviews.com to discuss his experiences starting SMB Capital and watching other traders succeed and fail. Tim and Mike also talk about how to become a consistently profitable trader. Listen to the interview here. .
Open Your Mind
Truth be told I am somewhat amused each morning when our intern AGray pops by my station seeking our “Best AM Idea” for the Open. I am a trader and not a predictor. As a trader part of your job is to identify the MOST important prices in a stock and if a stock touches one such price you are … Read More