An email from a new trader: Hi Bella, My Weekly Goal: 1. Being patient to wait for great setups to get aggressive 2. Trade 200 shares responsibly on excellent R/R setups 3. Go over entire Reading The Tape lectures again 4. Recognize bigger picture and trade stocks that move away from prices 5. Get more well-rounded in this new market … Read More
Discipline, Focus and Patience
The above three words have been written about many times by Bella and Steve and you have read about them in countless other places. Becoming consistently profitable in day trading requires the knowledge and use of all three! I would like to give a simple thought from my trading yesterday intertwining the three principles… At one point yesterday if you … Read More
Trading this volatile market
After the close some traders who I personally mentor send me a review of their day. One trader emailed: Overall- Today was a productive day both in terms of learning and in terms of P&L. I have had better days in terms of P&L, but I came out of a hole on the open and I am more proud of … Read More
Here is a trade I do not make anymore
A new trader, TO, sat in my office just under my print of Derek Jeter diving head first into the stands, without regard for his body, to catch a foul ball. He is a recent graduate who spent many hours neglecting traditional studies for his first passion trading. TO has followed us for a few years and now trains with … Read More
SMB Radar Update for August 15, 2011
The Strong/Weak Today column ranks stocks based on the price change relative to the stock’s opening price. These stocks tend to have strong/weak opening drives and continuation moves. The idea here is to find opportunity in the strongest/weakest stocks in the market. When looking through the column, we always take note at how In Play the stock is to gauge … Read More
You need to make more right now
A veteran trader stood in my office, mind racing, frustrated at his results from the past week. “You know Mike during 08 I made a lot of money getting back into trading after being away from the game. I told myself that they next great trading opportunity I wanted to be on a trading desk making real money. I am … Read More
Beating the Grind – $SPY $IWM $QQQ
The recent volatility has brought the major indices In Play, this broad market movement tends to have the “lift all boats (stocks)” effect, making the ETF’s like $SPY $IWM $TNA $TZA great trading vehicles. However they aren’t always going to be the best option at every point in the day, especially since the market has started to base (albeit a … Read More