Dipping My Toes Back Into the Water

Last week I was in St. Martin working on my tan. I definitely have the best tan on the desk and by far. Of course the week I am away the market rebounds 1000 points. It was like they knew I was taking a vacation. So today was my first day back and I treaded lightly. So I missed all … Read More

Note of Caution On Trading Systems

On my way to San Diego I began reading The Black Swan by Nassim Nicholas Taleb. I am still working on the book but I wanted to share some thoughts that can relate to trading.   The author discusses how it is in our nature to use past instances that corroborate a hypothesis and use that as evidence to prove … Read More

Thanks Newbie

SMB’s newest trainees have now been trading “live” for four weeks.  Before going live they went through an intensive five week program to establish the building blocks for a successful trading career.  During the first five weeks of their training they sit near each other on the trading floor.  This helps to build a sense of team and encourages them … Read More

Being Too Cute

Yesterday I made a silly mental mistake on the open that cost me my morning. I was expecting a small downtick on the open before the rally so I tried to get too cute. I shorted GS on the open. I was trying to catch the first down move so I could have plenty of leeway for my long for … Read More

Making the Adjustment

As traders we are constantly asked to make adjustments as the market changes. One of the questions I am asked most frequently by potential recruits for our desk is “how has the market affected the trading system that we teach?” My  response is that we teach the same system we have been using for more than a decade. Our system … Read More

Reloaded and Ready to Trade

I struggled for a couple of weeks and found myself going back to my old emotional habits. Bella reminded me at the expo a couple of weeks back that I tried quitting the firm after struggling after my first five months trading live. Steve helped me turn things around by working on my emotional rants: banging, cursing, bitching, etc. The … Read More

One Percent

I have heard from three reputable day trading firms who were concerned about this market. I have received email after email from experienced traders complaining about their performance of late. Their traders have not been doing well. They were worried about the volume drying up going forward. I will share what I relayed to these firms: get your traders in … Read More

Good Stock Bad Stock

GENZ was a good trading stock today. NFLX was an awful trading stock. We are only as good as the stocks that we trade. Today I chopped up GENZ and barely scratched out a few bucks in NFLX. The same trader on the same day, I had very different results trading both. Let’s discuss. First, NFLX made me irritable. I … Read More