“When you are in a losing streak, your ability to properly assimilate and analyze information starts to become distorted because of the impairment of the confidence factor, which is a by-product of a losing streak. You have to work very hard to restore that confidence, and cutting back trading helps achieve that goal.” Bill Lipschutz
Trading Quote of the Day – July 14, 2010
“The more you understand the concept you are trading, how it might behave under all sorts of market conditions, the less historical testing you need to do.” Tom Basso
SMB on Wall Street Warriors – Part 2 of 4
Watch SMB Capital on Wall Street Warriors.
Integrating Tape Reading into Your Plan
Mike Bellafiore discusses reading the tape on MoneyShow.com.
Trading Quote of the Day – July 13, 2010
“We typically trade our beliefs about the market and once we’ve made up our minds about those beliefs, we’re not likely to change them. And when we play the markets, we assume that we are considering all of the available information. Instead, our beliefs, through selective perception, may have eliminated the most useful information.” Van K. Tharp
Measuring Your Levels
Imagination is more important than knowledge… Albert Einstein We just got out of a Tradecast where one of our traders confused himself because he valued every level equally. All levels are not created equal. Before entering a trade you should ask: where can this stock go? During our Tradecast New Trader Mike showed tape of APC where he had two … Read More
Trading Quote of the Day – July 12, 2010
“Knowledge arises from experience. Just as a musician practices diligently to become a concert pianist and an athlete spends uncounted hours on the court to become a great tennis player, a trader must gain experience through actual trading to become an expert trader.” James F. Dalton
SMB Morning Rundown – July 9, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.