“The way to build superior long-term returns is through preservation of capital and home runs…When you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig.” Stanley Druckenmiller
SMB Morning Rundown – July 2, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Be Like Travis
I talked with a recent college graduate the other day. Nice kid. Well dressed. Polite. From one of those upper middle class lacrosse playing Long Island towns. On paper an excellent fit for most trading desks. This young man has no business being on a trading floor, considering being on a trading floor, or hoping to be on a trading … Read More
Be Careful When Your Routine Changes
I have a fairly set schedule each trading day. But on Thursday morning my routine changes as I have a pre-work obligation that changes my schedule. I generally arrive at the office one hour later than usual and do not run the AM Meeting. This change in routine has had some fairly negative consequences on my trading PnL. 90% of … Read More
Trading Quote of the Day – July 1, 2010
“One common adage…that is completely wrongheaded is: You can’t go broke taking profits. That’s precisely how many traders do go broke. While amateurs go broke by taking large losses, professionals go broke by taking small profits.” William Eckhardt
SMB Morning Rundown – July 1, 2010
The SMB Morning Rundown highlights the key levels in the Market and the best trading setup that we have identified for the Open.
Be Like Mike !
For those of you who are avid fans of the NBA you have probably heard the stories of how Michael Jordan use to practice as a member of the Bulls. He was totally cutthroat. It was not uncommon for fisticuffs to breakout between him and some of the bigger players on the second unit during scrimmages. He hated to lose … Read More
Trading Quote of the Day – June 30, 2010
“The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” Ed Seykota