Alert

Well yesterday was a bit slow.  We trended up and then trended down towards the Close.  On the Open I traded FCX and HK and recognized light order flow.  I was aware not to get caught in the Low Volume P.  For SMB that means the low volume programs where the short term longs lose as the stock is dropped … Read More

Morning Meeting

One of the greatest advantages each trader on our desk has is being able to listen to the exchange of ideas from our AM Meeting.  At the beginning of each meeting Dov gives the Big Picture, which is an overview of world markets and both macro and micro events that may create intraday trading opportunities for our desk. After Dov … Read More

Formula for Success

This is a tough week for us. We’re narrowing down our invitations for our September class for which, along with June, we essentially recruit all year. We have received thousands of résumés and have sifted through them, searching for those with the background necessary to be a good trader. We interview only some of the applicants—and only some of those get … Read More

The Yo-Yo Almost Always Finishes On the Ground

Did you ever notice that when you are playing with a yo-yo you never catch the little toy in your hand after a good run and walking away? Nah, it is more common for one to play that yo-yo to the end, stretching the string until it no longer rebounds and you have to roll it back up manually and … Read More

Compete

An experienced trader, GM, emailed me late last night as the Yankees were getting pounded again by the Angels. GM had some very kind words for my previous blog post, which I appreciated and made the latest Yankees loss more palatable. In return I would like to spend some of this Saturday AM offering some guidance on his recent struggles. … Read More

A Sale is a Sale is a Sale!

Yesterday during our morning meeting Steve brought up an interesting point and I couldn’t resist writing a blog post about it. In fact, this is not the first time I have heard about it and it bothers me quite a bit. For some odd reason long-term investors do not believe in taking profits. I can understand not taking profits because … Read More

Free $

We always say that trading does not have to be hard. Like Bella says, when I go to the bank at the of the month they are not going to question how I made my money. Yes, some days I have to grind my way through a good day but even on slow market days there is plenty of free … Read More

Getting Flustered

We had a film review yesterday with one of our better young traders. The young man can trade. But he under-performed on the Open. So we watched the video of his Open. It was like someone else was inhabiting his body. I did not recognize this type of trading from him. In fact I am not sure you can really … Read More