I’m glad I decided to write this now and not when I intended to a few weeks ago, as this particular post addresses Mr. Josh Brown’s debate of whether or not Prop Trading is officially dead – it turns out that, on occasion, procrastination and an overall busy schedule is helpful. I remember speaking with @dynamichedge regarding this particular topic … Read More
Spencer Trade Review – $AMZN $FB
Steve Spencer reviews trading opportunities in AMZN and FB from July 27th 2012. Steve Spencer * No Relevant Positions
How to Become One With Your Trading System
We’ve all heard the sad excuses after a bad run. The lame rationalizations. “I know it was through my stop, but I thought that it would come back”. “Yes, I saw the signal, but I just didn’t believe it” “I don’t know, I just froze” When someone is struggling, one way to lessen the pain is to rationalize it … Read More
The Opportunity for a Prop Trader
@DynamicHedge wrote a must-read piece recently that went viral, “Letters to a Young Trader”, in which along with buckets of awesome advice he also asserted prop trading shops are dying. This is true. But this is not the same as prop trading is dead and/or ALL prop shops are dying. That would not be correct. The author never stated this but … Read More
SMB Forex Daily Review – July 26th, 2012
Marc Principato Director of SMB Forex [email protected] * No Relevant Positions
The Opening Drive Play (UA)
I was watching UA on the open and I wanted to write up this drive because I feel like I’m a bit more comfortable with the slower setups in a trending environment. On the open the timing windows are shorter, the price movements are more whippy, and at the moment it’s generally more difficult for me to control my risk … Read More
How To Tell If A Trading Book Is Useful
As part of your desire to learn more and improve as a trader, you have probably checked out some books on the subject. Some of them, like Market Wizards, are truly inspiring and excellent reads. Maybe some of them have been helpful but most likely a lot of them were bad. Similarly, if you go to a bookstore or browse … Read More
Spencer Trade Review: $VVUS
Trade review for VVUS for Friday July 20th plus thoughts on possible trades for Monday. Steven Spencer is the co-founder of SMB Capital and SMB University and has traded professionally for 16 years. His email is [email protected]. No relevant positions