Risk: SO Not Just A Game

During a good film session today with a senior trader I got to get a clear look at how quickly I lose control of my risk and put my trading day in complete jeopardy. The film was from Thursday of last week when I was daytrading SRS (the real-estate ultrashort ETF) actively. To give you an idea of how the … Read More

Sunday Thoughts

At the office doing a few things with Steve, GMan, and Charlie. We are gonna watch some film at 3:15 with a few traders. We are putting together some new materials for Advanced Training and reworking one our websites. I am done with most of my part of that work. So now I starting to think about next week. And … Read More


As you may have been able to tell by now we don’t spend time on this blog pretending that we do not make mistakes.  We do.  But is your attitude that of Phil Mickelson who views every mistake as a learning experience?  Or will you blame your failures on anyone or anything else other than you?  I got out of … Read More

The Best Stocks Need to get Killed First…

Market leaders are the last stocks to bottom.  They have the strongest fundamentals and don’t breakdown until the pressure to get out of the market becomes so great that even they will be sold.  One such market leader is AAPL.  We talked about AAPL in today’s AM Meeting.  I remarked that we should pay close attention to AAPL’s price action … Read More

Do This Every Day to Become a Consistent Trader!

I get this question almost daily: Jeff, what are you going to trade today? Or this one, especially in this market:  Jeff, do you think we are close to the bottom? These are both good questions and there is nothing wrong in asking these questions, but what I learned pretty early in my trading career, and it has come in … Read More

Midday Trading

I had a nice morning trading RIMM on the Open.  Tough stock, but as I like to make sure everyone on our desk knows…. I am fast and agile.  So RIMM is not too tough of a challenge for me.  After the Open, I got up from my desk and took care of some firm business.  And then I sat … Read More

Expect The Unexpected

Today, from 12pm to 1:45pm the SPYs trended down very steadily from 87 to 83.5.  There was a readable seller for the entire downmove.  When the SPYs attempted a reversal it failed around 84.6.  This led to a downmove to the low of the day at 83.  I was able to make a nice chop in the steady downtrend.  But … Read More

Letting Go

I was trading HPQ this morning on the good guidance they provided. I traded the stock pretty well in premarket and was able to build a pretty good cushion for the open. I normally do not trade this stock as it is too thick and doesn’t have enough volatility. Today however it was up almost $4 on the open and … Read More