Yesterday I wrote Is bad ready bad? Today we follow up on this idea by looking at the work of legendary traders/investors. Over the past few years I have noticed some good coming out of what I first thought was all bad. When I lost my mom there was at first only loss, but then I recognized some good. When … Read More
Is bad really bad?
Over the past few years I have noticed some good coming out of what I first thought was all bad. When I lost my mom there was at first only loss, but then I recognized some good. When my dad had a stroke it was at first so horrible, but then some good. When we lost a mess of traders … Read More
Why FB was a long
I stress for our traders to trade with the trend. We teach generally that if a stock is in a clear downtrend to follow that trend. There are exceptions. FB today was one such exception. After the close I pinged to our traders: Why would it have been correct to get long FB today even though it has been in … Read More
When The Price Action Changes–Facebook
Facebook had been an great swing short since Tuesday morning when it made a new post IPO low. It continued to make lower highs and lower lows. The definition of a “downtrend”. You were hard pressed to spot two consecutive green bars on the 15 minute chart and the few times that did occur there was very little volume and … Read More
New AAPL weekly ‘fly and SPXPM update
This post is another in a series tracking the hypothetical performance of broken wing butterfly trades selected by Greg Loehr of Optionsbuzz.com. The hypothetical butterfly on the SPXPM is progressing nicely. You’ll recall that this was instituted as a “longer-term” trade compared to the weekly broken wing butterflies that I had been tracking on AAPL and SPX. So for now … Read More
Midday Review – May 25th 2012
On this review, Steve reviews PAY and explains why we focus on trading stocks with this pattern. Also references GMCR, NTAP and FB. * No relevant positions
The Trading Show Chicago
Mike Bellafiore, author of the “trading classic” One Good Trade will be speaking on The Trading Show Chicago 2012 on June 25-27, 2012. The Trading Show Chicago brings together the leaders in North America’s trading community, to explore new advances in trading strategy, quant models and technology. Mike will be presenting a seminar session in one of the on-floor theatres … Read More
A sad anecdote of a failed trader
I received this email from a trader this week: Hey Mike, We talked awhile ago, about how your book “One Good Trade” has helped me and my 5 friends on the trading desk at our prop trading firm($$$$ Capital). I have been trading for about 12 months total and about 6 months live. I have found that your website blogs … Read More