It’s earnings season. This is our playoffs. Living in these uncertain times the market is volatile. Adding this fact to earnings season offers us an unusual amount of trading opportunity. This is an excellent trading market. And as an intraday trader there is a large check the market is about to write to you if you just act in your … Read More
The Right Approach
New traders at SMB have a very structured environment when they start their trading careers. During their first five weeks every minute of each day is planned. When they begin trading live in week six they are assigned a mentor who will review their work on a daily basis. They begin by trading 100 shares at a time. Their ability … Read More
A Great Set Up- RIMM
SMB caught a nice trade in RIMM on the Open. We used an intraday support level from Friday to start a core long in RIMM today. Let’s discuss. RIMM finished up over twenty percent on Friday. RIMM had trouble trading above 60 into the Close but still finished impressively. During the midday 58.50 was a huge level on Friday. This … Read More
Don’t Be Satisfied
SMB has had a nice run the past three weeks. And as traders we should always enjoy the good times. We spoke to our desk after the Close about one thing that merits some mention. They can do even better. For the developing trader it is important to keep pushing yourself. If you have been trading for less than three … Read More
Psychology Drives Price
RIMM reported after the close today. It traded up over 20% from its closing price. You are going to read a lot of articles about how they “blew away” expectations and gave great guidance. The articles will assign these as the reasons for RIMM’s explosive up move after the market closed. Really? I don’t think so. Do you believe that … Read More
On the Open
Often new traders state, “I can’t trade the Open.” And then they decide to just watch for the first 15 minutes of trading. But doing this eliminates some easy money for you. And understand it is not that you cannot trade the Open, it is that you trading the Open poorly. But there are certain set ups that offer an … Read More
Learning to Let Go
One of our talented young remote traders sent me the following email a few days ago and I thought this was an important topic to address. Below is his email: Gman, I had a hell of a time with ACN this morning. There were a lot of screw jobs, and fake outs. The price action was very choppy and it … Read More
Tuesday Morning Fun – Excessive Celebration
On our desk we frown upon excessive celebration after making one good trade. Many get in an excited mental state which causes them to make several bad trades in a row. One of our traders found this link this morning. This is clearly an example of excessive celebration. Wait for the score at the end of the clip. http://video.yahoo.com/network/100284668?v=4656506&l=4418225 Enjoy. … Read More