Just Trade

BellaGeneral Comments, Mike Bellafiore's (Bella's) BlogsLeave a Comment

There was a bunch of chatter on our desk before the Close about a dead market. DQ, a solid young trader, was complaining, “The energy stocks stopped moving. They don’t move that well after 2:30. Nothing is movin.” I remarked, “So take a look at some of the financials, young fella.” MER was sitting there at 25, bobbing and weaving … Read More

Scalping

BellaGeneral Comments, Mike Bellafiore's (Bella's) Blogs3 Comments

Scalping is an important trading technique for new traders to learn. Yesterday was a great example for why. But let me take a step back. Every so often we get a cocky young student who strides into my office and asks direct questions. The last young such kid started with, “do you just teach scalping techniques?” A perfectly legitimate question. … Read More

SMB Training Program Recognized

BellaGeneral Comments, Mike Bellafiore's (Bella's) Blogs4 Comments

Well today was a proud day for me and my partner.  Dr. Steenbarger, one of the top three trading coaches in the country, wrote a very nice blog about our training program (http://traderfeed.blogspot.com/2008/07/training-successful-traders-new-breed.html).  Steve, GMan and I worked very hard to develop our training program and it is a great honor to be mentioned by Dr. Steenbarger.  On our desk I always describe … Read More

AM Meeting Summary

sspencerGeneral Comments, Steven Spencer (Steve's) BlogsLeave a Comment

CHK–Support 48/48.30 Resistance 49.60. FNM–Support 11.80 Resistance 12.60. XTO–Resistance 49.20 Support 48.  WDC–Support 30. WFR–Support 42 Resistance 44. QCOM–Support 51.70 Resistance 54. WM–Big Seller at 4.04 yesterday. Followup (11:15AM): When FNM failed to break above 12.60 we shorted and covered in front of the 11.80 support.  When the support dropped we traded it on the short side again for another … Read More

A Trade You Must Be In

BellaGeneral Comments4 Comments

On our desk there are trades that you must be in. There are setups that if offered by the market you must exploit. You should have a list of the trades that you must be in. And if this trade results in a loss you are not annoyed. In fact you are grateful for the opportunity. There are trades where … Read More

The Day Doesn’t End Until 4

BellaGeneral CommentsLeave a Comment

One of my favorite phrases on our prop desk at SMB Capital is: the day doesn’t end until 4. If you start negative then you have the rest of the day to make it back and then some. In this market there is so much opportunity it is a waste of energy and irresponsible to get down after a few … Read More