During our 11AM mentoring session today a good trade was presented and failed for 5 reasons. Let’s review this trade and those reasons, with the hope that it will help you think through future trades. FXCM has been In Play into the end of year, rising from 11-25, as you can see from the chart below. The trendline broke below … Read More
It’s all about the grind
Winning traders embrace the grind. Above is a spreadsheet from a developing trader on our desk measuring his good days and bad. What did he find? When he arrives before 8AM, he is a good trader. When he arrives after 8AM, he stinks. When his activity is high before work, he is a good trader. When his activity is low … Read More
Succeeding with your trading resolutions
It’s New Years Trading Resolution time. And many of you will outline grand plans. And that is excellent. Here is a suggestion to help you SUCCEED with your trading resolutions. You will find some of our well-intentioned resolutions difficult for you to make into habit. The three goals most will struggle with (me too) will be: 1) Journaling 2) Breathing … Read More
10 trading resolutions for you
Happy New Year! Here our ten trading resolutions I wish for you in 2016! 1. I will try to improve each day and stop trying to make money. 2. I will study my trading edge and build from my strengths. 3. I will improve my fitness as this impacts my trading PnL. 4. I will be grateful each day for … Read More
Damn right we talkin about practice!
I had an informative phone chat with a counterpart of mine at a large international prop firm. They house thousands of traders globally. They, like us, back all of their traders. They, like us, have their own proprietary trading technology that only firm traders can use. They, like us, trade many different products. He, like me, trains all of the … Read More
Questions to ask yourself after a trading loss
Yesterday I was trading a stock with a negative news catalyst that was below an important longer term technical support level and intraday VWAP, got short, and took a loss. I would make the trade again. After taking a loss consider whether you would take the trade again. Here are the questions I asked myself: 1) Did I have an … Read More
SMBU’s Options Tribe Webinar: Terry Liberman of Exceptionaltrader.com: Your Trading Business – The Structure that Guides Your Trading Performance
This week Terry Liberman of Exceptionaltrader.com appears for the first time on the Options Tribe to discuss the concept of a trading as a business, the elements of that business and the trader’s role in that business. We are looking forward to Terry’s debut on the Options Tribe.
The unique trader
We as a firm were studying our top five traders this week. Each of them trade a very different style. Said another way, each of them is unique. One is a scalper. Another trades momentum. Another is an inefficiency trader. Another is an arbitrage trader. Still another trades low floats. What is more interesting is that each of them trades … Read More