SMB Reader: Dear Mike, I wanted to reach out to let U know how much of a better trader I’m becoming thanks to U guys. It feels really good to notice daily improvements in my trading. I paper traded for 2 years and half before starting with real money 3 months ago. I’m a French award winning multi-platinum musician/composer/producer who’s … Read More
To Take or Not Take Breaking News Plays
SMB Reader: Hi Mike, How are you doing? I have an interesting question when I talk about trading plan with a local trader. Regarding trading plan, my idea is: trading plan is your preparation for next trading day, but I have to be flexible after the market open. which means occassionally I have to take some trades not on my plan. Trading plan is like the preparation for a … Read More
My Thought Process: $MCO
I shared this because it moved above INTU into the #1 spot on SMB Radar “weak today”, while it was also #4 for “in play”. Stocks that appear across the top of multiple lists in the SMB Radar usually offer the best risk/rewards setups. A quick look the daily chart shows the next possible support area which had been resistance … Read More
Should Short Term Traders Consider Fundamentals? Part I
I believe the majority of market participants agree over longer time horizons fundamentals will influence the price of a stock. But what about in the short or medium term? Should intra-day traders or swing traders be evaluating fundamental news related to the stocks they are trading? Or should they simply focus on price action in relation to news? I have … Read More
Webinar Recording: The Playbook–Reasons2Sell
For the February 7th installment of our Webinar series, The PlayBook with Mike Bellafiore, Mike discussed Reasons2Sell: Getting The Most Out of Your Trades.
Placing Your Stops Correctly
If you become skilled at stop placements your win rate increases. It’s a skill that we teach traders on our desk but it is something that takes live trading experience to ingrain in a trader’s brain. Newb traders are all over the place in this area. You have some who will risk a few cents, which is awful in an … Read More
The PlayBook Webinar Series: Do You Exit Your Winning Positions Too Early?
Please join Mike Bellafiore, author of the “trading classic” One Good Trade, on Thursday, February 7th at 4:15PM EST for the free Webinar Series, The PlayBook. Tomorrow we will discuss Reasons2Sell, a way for you to build a better exit strategy for your trading. Click here to register for this free Webinar. As always Mike will take questions and encourage … Read More
Using The Tape: $PRGO
Reading the tape is an essential skill for actively day trading. The tape, also known as the time and sales window, shows the trader important information about order flow. It is a stream of data on price and volume, which are two important criteria for intra-day trading decisions . Tape reading takes time to learn and takes practice to understand … Read More