Today I made I mistake I rarely make – I let my bias take over my trading. I came in with a small overnight short in MGM and in AIG. Both showed huge relative weakness yesterday and both were working great in premarket with the gap down. The plan was simple, I would add to the positions once below important … Read More
SMB on CNBC’s FINAL CALL
Jeff Tomasulo, senior trader at SMB Capital, appeared today on CNBC’s Final Call. Watch the clip below and leave your comments on this blog. Don’t forget to follow us on twitter.
Letting an IPO Run
“Bella I cut too early.” “Damn I cannot believe I sold that FSLR a point ago.” “I am such a wuss FSLR ran 3 points after I sold it.” I heard all of these statements on my prop desk today. Selling early is a constant struggle for all of us. One position that I let run is an IPO holding … Read More
Choosing a Book Title
I am now at the end of the process for my trading book with Wiley. My book discusses why traders fail and succeed as prop traders. It offers an inside looking into the highly competitive world of proprietary trading. I share what the market has taught me over the past twelve years. I introduce characters, traders some who have … Read More
“Help Me Help You”
One of the amazing benefits of being part of a prop desk is that we all make more money individually by sharing ideas. Important levels are shared via call outs on the desk, via our intraday alerts software, during video review sessions (VRS), and during our Stocks In Play call before the Open. It’s a constant battle to get those … Read More
Mike Bellafiore Live Chat With The Kirk Report
Mike Bellafiore, partner at SMB Capital, and trading author, chatted live today with Charles Kirk from The Kirk Report. Mike discussed many different aspects of trading and also answered several questions from readers. Click here to replay the chat.
What Do You Learn From Your Trading Journal?
GMan and I revamped our trading journals and the SMB trading journal on a 9 1/2 hour car ride home from the Outerbanks. And this has helped. For me my trading journal helps me to focus on my monthly and daily trading goals. I start each morning writing down my goal for the day. So my day is just a … Read More
Piker High Bid and STJ (From the Mailbag)
I received this comment about my last blog Second Day Play- STJ. Let’s discuss. Bella Very interesting and insightful blog post, i have some questions 1.Why did you not get long as mr.piker high bid stepped up, does that not indicate that break above 34.00 is more likely? 2.like you said the upper range from the prior day is 34.25, … Read More