One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade. This was his Trade Management slide for the trade. There are some lessons here. 1) Great job being in the best stock yesterday for intraday traders, RIG. You are only as good as the stocks you trade. This was a stock with … Read More
I ripped it up. what now?
Hi Mike, It was a pleasure listening in on your webinar yesterday. Your book has been a great motivation, coming from the US Army I appreciate the clean-cut “straight to the point” approach; I’m looking forward to The PlayBook (March, I believe?). At 28 years old, I’ve been at the markets for only 2 years now; its a big obsession … Read More
Trend Trend Trade: An Example (RIG)
Mike, Greatly enjoyed your initial Playbook Series Webinar. I have a few questions: 1) What do you mean by a “trend-trend” trade? 2) You mentioned that you focus on trading “in play” stocks. Do you mean stocks with a known catalyst (e.g. earnings, guidance, takeovers, etc.) or are you referring to stocks appearing on the SMB Radar? 3) On a … Read More
Why I got long FDO
FDO gapped down and then made a sharp downmove on the open. I caught some of the downmove with a Momentum Trade. But then the momentum short was over and I had a decision. Do I look to trade $FDO for a bounce or for a continuation move? I chose the former and will explain w1hy. The market has been … Read More
The Forex Road Map
When new traders enter the forex market, they install their platform of choice and then ask the following question, “How do I know which way my forex pair is going?”. They usually seek the answer by immersing themselves into the world of confusion. Amazingly enough, newer traders already come to the game with the preconceived notions that their brokers love. … Read More
Trading Lesson: $HLF
In this video Steve offers two trading tips on how to improve your results. 1) The importance of being present throughout the trading day 2) Using tape reading to add to a position in a very low risk way Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is … Read More
Forex Trading Realities: The Ebook
I wrote a 38 page ebook titled, “Forex Trading Realities” and wanted to take a moment to let you know what it is about and why I wrote it. The retail forex business in which we are a part of is infamous for misleading information, misguided analysis and trade stimulating ideas offered by brokers, marketers and others trying to profit … Read More
AMZN Trade Prep From December 18th
Here is a snippet from December 18th 2012 AM Meeting where Steve Spencer discusses his thought process in AMZN. SMB has never believed in the idea of a “stock picking” service. Professional traders become profitable through building a variety of skills over a long period of time. However, listening to the thought process of a seasoned professional with 17 years … Read More