Below is a Trade Management slide from a PlayBook trade of an SMB Trader. As I discuss in The PlayBook, our traders archive a favorite setup from the trading session for their trading PlayBook. Looking at the trader’s markup below, we should review an opportunity to get bigger in this position. Shorting below an Opening Range of a Stock In … Read More
When Should I Sell?
Hi Bella, I just have to start off as I always do and thank you and SMB for providing excellent trading education and training. Alright now to my question(s). When trading the open, when do you decide that you should hold a core position especially since there isn’t trend in the first 30 mins of the day? Do you decide … Read More
Are You Still Focusing on Longer Term Intraday Trades?
Hi Bella, I just finished reading your book One Good Trade and I wanted to thank you for writing it. I am trying to learn the craft of trading, and I found it to be entertaining and educational. Toward the end of the book you mention how in 2009 and 2010 you started moving toward longer term intraday positions and even … Read More
One Good Pitch: Learning from Mariano Rivera
Mariano Rivera’s career path can teach us about our trading. I remember when Mo was not Mo, the greatest relief pitcher in the history of baseball, and with One Good Pitch: the cutter. If you are not as good of a trader as your ambition Mo’s journey could inspire you. My dad and I were sitting behind home plate, right … Read More
Elevating Your Trading Game: Discover the Power of an Effective Exit Strategy
Traders often struggle with when to sell a winning position. They sell too early and they regret as the stock trades three points higher or they don’t sell and the stock gives back all of the trader’s gains. The poor sale can send them into a distraction of regret, frustration, and even anger. In my next book The PlayBook, I … Read More
The Misunderstanding of the Conviction Trade
“I am going to stay in this until I am proven wrong. This is a Conviction Trade.” Things heard on a prop trading desk, from a retail trader, at a macro hedge fund, on the Financial Media Entertainment Complex. If only most of the above had conviction when they should. I was in my office chatting with a new trader … Read More
Do you have a news edge?
Last night I had dinner with Ravee Mehta, author of The Emotionally Intelligent Investor and former hedge fund trader at Soros Fund Management, hoping to learn more about getting a real news edge while trading. On my desk I hear my guys talking about Conviction Trades before the stock confirms their thesis. I have worked with very experienced discretionary traders who … Read More
Does the 10,000 Hour Rule Apply to Trading?
It takes purposeful practice AND 10,000 hours to become great at anything, says this latest blog from Barking Up the Wrong Tree. I write about one way to practice purposefully in my next book The PlayBook (which you can preorder), by creating your PlayBook. I have written about other ways extensively on this blog (some examples below). Improving Our Performance … Read More