Step one you learn the best stocks to trade. Step two you learn the right setups to trade with these stocks. Step three you build best practices to make sure you do not miss these stocks and setups. Step four you trade these setups and develop skill with them. What could go wrong? Trading is as easy as one…two…three…four. But … Read More
10 Ways to Become a More Consistent Trader
I was sitting across from an ambitious new trader in Troy, NY (yes you read that correctly Troy, NY) enjoying the Brown’s Pale Ale discussing ways to be more consistent as a trader. Now most of these conversations are started by traders who were never profitable. But not this one. This one was with a new trader who had mid-six … Read More
Help! This Isolation is Killing My Trading!
Dear Mike, I am almost through reading your book One Good Trade. It’s phenomenal! Now one of my favorite books about trading, it really altered the way I think – helping me purge the psychological demons and reinforce good habits. I completely agree with your viewpoint that trading as part of a team compounds the learning process. I have been … Read More
The Second Week of More Mindful Trading
In this post, I will continue my eight week experiment with cultivating mindfulness and trading. The first post in the series can be found in the post Eight Weeks to More Mindful Trading. Just in case you missed that post, I will provide a brief refresher on mindfulness. The topic is all the rage right now because people want to … Read More
The Best Setup for New Traders: A Changing Fundamentals Trade! ($ERJ)
What is the best setup for new traders to trade? A Changing Fundamentals Trade. One day the fundamental strength about the name is substantially different than just the day before. These trade setups outperform the market. They trend intraday. They can trend for 1-3 days for those of you who are swing traders. It’s this new news catalyst, a significant … Read More
Top Voted – Top Three Trading Topics (Power Point Presentation)
SMBU asked our trading community to vote for the top three topics to teach during its next webinar. Our partners then taught these topics during a recent webinar. The top three topics were: Price Action Analysis- Specific trades were presented showing how price action was instrumental to construct winning trades The Best Setups for New Traders- Two setups are discussed … Read More
The Perfect 10 Technical Trade
I ask our traders to only make the *very* best technical trades. Judge each technical trade on a scale of 1-10 and take only those 8/10 or above. What is a Perfect 10 Technical Trade? It’s GENE (Genetic Technologies Limited) from the other day when it traded below a huge technical support level and then dropped 30 percent…in one day….while … Read More
Surround Yourself with Positive AND Negative People: Unleash the Power of Diverse Perspectives
“People are like dirt. They can either nourish you and help you grow as a person, or they can stunt your growth and make you wilt and die.”~Plato I was on the phone with a developing retail trader (let’s call him Saratoga Slayer) who had impressive results in Year1. Why did Saratoga Slayer do so well in Year1 when most fail? He wasn’t sure. … Read More