There was a time (before 2010) when you could open a forex account with any U.S. broker and have the ability to hedge your spot forex transactions in the United States. Residents outside the U.S. still have the ability to hedge their forex positions. On the surface, hedging sounds like the ideal situation: After taking your initial position, if you … Read More
Starting a Prop Desk
Hi Mike, I have a couple of questions that I would like to ask you. First, what is the success rate of new traders once they go through the SMB program? And second, in your opinion what would be the ideal number to start a trading floor with? I realize you might refer to how much capital is available but … Read More
Understanding Market Structure
Hi Mike, 1. Trade only the MOST in play stocks in the beginning as they have the best chance to move regardless of market action. 2. Wait for the market to break previous day’s range or some similar range from previous couple days trading. 3. Establish the the market itself is in play. Is there significant economic news, political unrest, … Read More
And The Answer is… Trade Less
I have a question, but here is the background. I have a VERY small trading account as a trader for a Prop firm. It is an account with $16,000 in buying power and a 40-share max with a $25 loss limit (I’m in my firm’s 18 month trading program and started with a $2,000 account and account grows as your … Read More
Consider This Before Making a Trade
Good day Mike, How is work and family. Please, I need you to clarify a few things for me. I want to know the role the following indicators play in selecting stocks for day trading. 1. Beta: what value will you use in determining stocks to play(buy/sell or stay away from) 2. ATR 3. ADV 4. Relative Volume:How to determine it … Read More
SMB Capital and Kershner Trading Group: A Powerful Partnership
April 24, 2013, NEW YORK, NY—SMB Capital, a leading proprietary trading desk based in Manhattan, and Kershner Trading Group (Austin, Texas and now New York City), have teamed up to create a joint venture for a new trading office in Midtown Manhattan. The JV offers traders a true trading partner, where the firm provides technology with an edge, large trading … Read More
[Forex Workshop Recording] Multiple Time Frame Analysis
In this workshop, Marc showed traders how to utilize multiple time frames in order to decide which side of the market offers the greatest potential and the least amount of risk. This kind of market perspective can make the difference between taking profits quickly or giving the market more of a chance to realize a greater potential. If you missed this … Read More
Forex Trading: When do you let a winner run?
You know the following situation well: You had a long in EUR/USD at 1.3005 and sold it at 1.3018 only to watch it go to 1.3086 over the next hour. Of course when you try and hold for these type of moves, you give back your 10+ pips plus some additional when your stop gets hit. How do we know … Read More