This is What a Successful Trader Looks Like

Hi, I applied yesterday for a  spot in SMB Capital’s team. My resume is poor. I’m trying to increase my chances. This was my yesterday trades. First was TDC. I waited for the reversal and based on the Tape I’ve spotted buyers stepping up the bids. So i add a small size, initiating my long position. The tape … Read More

Why I Tweeted HUM was a Short

Today during the trading session I tweeted on StockTwits about an excellent $HUM short opportunity, as you can see below. The funny part about these tweets, and I will let you do the research, is I was called out for these short tweet ideas by a few.  My response to this now is the same as it was in real-time: … Read More

Why EBAY was a Buy

Today in our SMB Real-Time I chatted that I liked the EBAY setup. It had formed an intraday bull flag. I started asking traders around me if they were in it, which is my way of hinting perhaps they should be. A few were. I asked a few of the guys how big they were. This is my way of … Read More

The Entitled Trader

Peter Shankman, founder of HARO, wrote an interesting post today on the poison of entitlement. There is nothing worse than entitlement. It reeks of caustic, old-way-of-doing-things attitude. It screams “Don’t you know who I am?” And nothing, absolutely nothing, can ruin your chances faster, both in life or in business. This is a great lesson for us as traders. You … Read More

Are You a Pro or Piker?

There never was a moment, and never will be, when we are without the power to alter our destiny. I spent most of Easter immensely enjoying The War of Art by Steven Pressfield. For traders there is a wonderful section from which we can learn that defines the difference between being a professional and an amateur. We might say at … Read More

What is Your Mission Statement?

I had the privilege to visit a prestigious US hedge fund this week.  I just cannot shake this one image. We, 4 of us from SMB, arrive from NYC in Greenwich in my family SUV.  You pass the private airport so close to Westchester and Southern, CT .  The four of us joke about the SMB private jet, that can take you … Read More

Is There Power in Negative Thinking?

Is it productive to think negatively as a trader? Bobby Knight, National Collegiate Hall of Fame coach, thinks so. Coach Bobby Knight says that when he first started coaching one of the worst things he would hear was “It will be O.K.” Not only that, Knight says, as he did in a recent New York Times interview, that “the worst … Read More

What do you do when your strategies stop working?

Hello Mike, I have an interesting question for you.  Its about the life cycle of a trade set up.  I’ve realized that like businesses trading setups are also cyclical.  There will be periods where the set up produces an edge, and there will be periods when the set up is not producing an edge. Does this mean the setup no longer … Read More