I managed to pick up some MGM at 11.22 yesterday. I was risking about five cents on 1200 shares. I considered my initial upside to be around 11.80. But ultimately I was looking for a breakout above 12 with upside to 13.80-14. When I came in this morning MGM was trading slightly higher than 11.50. My trading plan was to … Read More
Your Win Rate
I received the following email from reader Ed: Hi Mike, I hope you’re doing great and all is well by you. I was wondering if I could run something past you if you don’t mind. I was the trader that Dr. Brett mentioned in his March 14 article, “the mistakes traders make.” I was wondering if you would mind telling … Read More
A Silly Trade
I highlighted what I thought would be the relevant range for AIG today in our morning meeting (34-36). My reasoning was that AIG needed an inside day prior to making its next large move. I was interested in getting long close to the bottom of the range and short close to the top. The market opened and AIG quickly popped … Read More
A New Arrow For Your Quiver
I have never written a blog post about the trade setup that I’m about to discuss. For the most part we share pretty openly the setups and techniques we use on a daily basis to make money. I’ve been contacted by many developing traders who actually can’t believe the amount of information we provide free of charge via our blog. … Read More
Mental Capital
I have been talking a lot to our traders recently about properly allocating their mental capital. What do I mean by this? Each stock we look at as a trader will offer a certain amount of opportunity each day. If a particular stock is likely to offer far more opportunity than another then all other things being equal the traders … Read More
Trade of the Day- RIMM
Bella discusses the trade in RIMM today when it cleared the key 71.80 and 72 Long-Term resistance levels
Making a Trading Decision
Bella discusses how he used three factors, Reading the Tape, Intraday Fundamentals, and Technicals to make a trading decision in RIMM today.
Trade2Hold BRK.B (End of Day)
We had been waiting for BRK.B to hold above 80 for a Trade2Hold to perhaps 82. Friday we almost had the hold above 80 but ran out of time. 80.10 became the new hurdle to clear before BRK.B knocked on the door of 82. Today during one of those times Steve always warns that stocks can move, lunch time, BRK.B … Read More