Dear Mike, I hope that my email finds you well. One of things I’ve learned about trading at a proprietary firm, is that the best traders are also the most honest traders. They’re honest about their numbers, their mistakes and weaknesses as a trader. Today I took a real close look at my trading weakness. I want this to become … Read More
My Radar Trade In JCG
At 9:45 I glanced over at the SMB Radar, our proprietary scanning tool, and saw JCG towards the top of the volatility spike column. I punched it up on my platform and it appeared to be a pretty good short set up. It had just a had a strong opening drive through the prior day’s two key support levels and … Read More
A Trader’s Thoughts
Today was an inside day after yesterday’s market break. Statistically this was the most probable outcome. The price action for the bulls today was terrific. Again. I have no evidence that we are heading down from the price action of late no matter what the proselytize via the blogosphere and traditional media. And so what am I thinking about to prepare for … Read More
RIMM – follow up post-earnings
A look at RIMM as a second day play using intraday technical patterns.
SMB Morning Rundown – September 21, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open
Morning thoughts for September 21, 2010
Good morning traders. Market is up slightly overnight following a very strong session yesterday. Typically after a trend day the following day tends to see consolidation in the morning session. On the open I will be much more inclined to take quick momentum profits than usual. I am also going to be looking to buy quick dropouts to afternoon support … Read More
Inside the World of Prop Trading: A Journey with the Disciplined Investor
Mike Bellafiore, author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading, was featured on The Disciplined Investor. Mike talks with host, Andrew Horowitz, about the shift to high frequency trading (HFT) in the trading industry and the ways SMB has adapted to combat the adoption of HFT. Andrew does a weekly podcast, which can be found … Read More
Will the Real Level Please Stand Up? (Know Your Market)
Traders watching the S&P 500 have at least four possibilities for market proxies (and most other major indexes have similar issues), but they’re not always created equal. Some instruments do some things better than others and some are completely inappropriate for certain uses. Let’s start with looking at the pros and cons for each SPY proxy: SPY: An ETF that … Read More