Tier Size

The last few days have been a bit slow after the Open.  We must adjust.  One adjustment I make on such trading days is to lower my tier size after the Open. I traded HPQ on the Open (chart below).  It held 45 and made a nice upmove to 45.25 where it was met with resistance.  After a struggle at … Read More

Best Pizza

So one of our new traders, who grew up near my home town, and I were discussing the best pizza.  For some reason there is this false notion that NYC has the best pizza.  They don’t.  The best pizza, Colosseo, is from my home town.  This is not some parochial or biased call.  I have traveled quite a bit.  And … Read More

Is the Dollar Strenght Sustainable?

As I have mentioned in my bio, I have been trading currencies for quite a while. I do not miss getting up at 1am EST to get ready to trade the London session. Yet, these days with the current violent moves in currencies I find it hard not to sacrifice an hour or so of sleep to put a day-swing … Read More

Vacation

It is important to take vacations during the trading year. Trading for one day is like working three days at another job. I remember in law school taking finals. We would learn and study for half the year and then take one exam. For example, I took Constitutional Law with the Jeremy Paul, now the Dean of UConn Law School. … Read More

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