I come from a prop firm that’s heavily composed of traders that scalp for a penny profit on list of selective stocks that meet the necessary criteria. Yesterday, our firm has been banned for a week on using the routes on these selective stocks that are necessary to implement the penny scalping strategy from our provider due to selective traders … Read More
Don’t Dig a Trading Hole Like These Traders
The below is an excellent reminder for us as traders. It comes from a trade recap after trading today. 1) When returning from vacation take it slow. 1a) An experienced trader ripped it up on a new platform yesterday prompting an email from SMB to get used to the system- take it slow. 2) Let the market come to you. … Read More
Bounce or Scalp? Knowing the Difference for Successful Trading
I received another great question from The PlayBook Webinar Series of last week on our 2nd Day Trade in $EDU. Here it is: Just my opinion, but since the stock is coming from $20 or $22 is it the previous day, I think a lot of people would have tried to catch the bounce at 13.50 to 13.70 at 11 … Read More
This is When You Should Call Yourself a Jacka$$
Hi Mr. Bellafiore, I just finished watching your first playbook webinar (was on vacation during the actual presentation) and I just wanted to say thank you for doing this for the trading community and I really took a lot away from this. The point you made towards the end about being hard on yourself about your very best setups really … Read More
How Do You Stay In That Position?
Hi Mike, Thanks for last week’s webinar. I think it was helpful to learn more about the specific short trade in EDU last year. Especially for scholars such as me, a webinar is a good chance to stay close to you guys. This is in itself helpful because it keeps the motivation high. Since you asked webinar participants for feedback … Read More
Trading Educators Are Showoffs
I received this feedback from an attendee of The PlayBook webinar series. I was only on the webinar for about 15 minutes, so perhaps this is an unfair comment….. But, I thought the seminar seemed to be more about how cool you SMB guys were than providing good useable info. I personally would evaluate the seminar on the quality … Read More
A Pro Trader Shares His Goals For 2013
Our Floor Manager asked our traders to develop their goals for 2013. One newb did so below. His works is educational for the new, experienced, developing and underperforming trader. A few comments: 1) Notice how self-aware this trader is of his strengths and weaknesses. Are you? 2) Your job as a trader is not to be right it is to … Read More
The #NewNormal and $SPX 1680
I was on BBC a few days ago to talk about the market’s reaction to the “fiscal cliff” legislation. I had hoped to use the opportunity to spend some time clearly outlining a concept I discussed in my final webinar of 2012. The BBC economics reporter prattled on longer than expected so I only had about 60 seconds to outline … Read More