I received the following email from reader Ed: Hi Mike, I hope you’re doing great and all is well by you. I was wondering if I could run something past you if you don’t mind. I was the trader that Dr. Brett mentioned in his March 14 article, “the mistakes traders make.” I was wondering if you would mind telling … Read More
Reading the Tape
In a recent blog Dr. Steenbarger talked about a vital skill for the intraday trader, reading the tape. Dr. Steenbarger, aka the godfather of modern trading psychology, wrote: “My experience is that an understanding of (and ability to read) order flow is one important factor that separates the older, successful generation of daytraders from the newbies who only know simple … Read More
A Must Read: The Daily Trading Coach
The first time I met Dr. Steenbarger was in the smaller conference room of our proprietary trading firm in NYC. We were finalizing our training program and we wanted the best teacher that we knew to review our work. He wasn’t being paid, he was just a trading coach offering a helping hand. As Dr. Steenbarger offered his critique I was … Read More
Why Inexperienced Traders Fail to Hold Their Winners
One of the most difficult skills to master for a younger trader is holding a position for a larger move. I’m going to discuss the reasons that I believe this is the case and some of the things SMB does to help its traders improve on this very important skill. I will also briefly discuss one of the younger traders … Read More
The Daily Trading Coach- A Must Read
“The Daily Trading Coach- 101 Lessons for Becoming Your Own Trading Psychologist“, written by Dr. Steenbarger is now being shipped by Amazon. We have our orders in at SMB. I cannot wait for my copy to arrive. A few months ago I received an email from Dr. Steenbarger asking me if I would like to participate in his next … Read More
SMB Training Program Recognized
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