For those of you who trade as part of a desk I’m sure you have heard expressions like these a thousand times: “I can’t believe I missed that move in XYX. I was wating for that breakout for a week!” “I got stopped out in ABC then it took off!” “I missed getting hit on the bid by a penny … Read More
The Power of Information Shared on the Desk
We all have our strengths and weaknesses as traders. If you don’t know what they are for either side then you are in serious trouble friend. I know I am a good tape reader when there is good order flow in the stock. I also know what the strengths are for some of those who sit around me. And when … Read More
Congratulations to GMan for Making Partner!
We would like to congratulate Gman for making partner at SMB Capital.
What Type of Market Are We In?
We are in a downtrending market! What? We are in a downtrending market!! What? downtrend!!!!!! What does this mean for short term traders? Short stocks if they pop to previous support levels If the market trends up for two days then pray for a third day gap up so you can short the market!! Trade with less size as downtrending … Read More
The Value of Sharing Trading Ideas
Bella discusses the easy money that can be made by sharing trading ideas.
Trade2Hold Exit- AMZN
Today during our AM meeting we highlighted AMZN and the 123 level as a shorting opportunity. This turned out to be a wonderful intraday trading opportunity. As intraday traders gravitate towards a longer holding period, for us Trades2Hold, set ups like AMZN must be mastered. AMZN had earnings Thursday night, gapped up on Friday, and then sold off for … Read More
The Failure Rate of a Proprietary Trader
I remember the discussion like it was yesterday. It was in our former 8×10 makeshift training room/office/conference room/lounge with the first trader who ever failed at SMB Capital. JJ announced he was leaving to take a six-figure job at a financial services company in NYC. But let’s be honest. JJ was leaving because he was not making money as a … Read More
A Day Trader’s Dream
You couldn’t ask for anything more than AAPL provided today. A selloff that began in the premarket from 208 that ended when a large buyer began accumulating at 203.40. An uptrend that once above 208 offered more than five points of upside. And a downtrend into the close that began with a hard down move through 211 and ended from … Read More