Ten Mistakes by BP a Trader Should Never Make

1. No Exit Plan.  There was no exit plan for if the rig (RIG?) exploded.  Before every trade we must decide where and how we will exit BEFORE entering the trade. 2. Live to Play Another Day.  It is not definitive that BP is a viable company going forward even with 6.08 Billion in quarterly profits.  1) When will the … Read More

Make Each Trade Your Own

This morning we tweeted our Best AM Idea (BAMI) in RIMM. Based on our observation from the after hours trading yesterday we thought it was likely that RIMM would bounce on the Open from 69.50 and have the potential to trade as high as 72. When the market opened RIMM quickly traded down to 69.50 and I got long. Not … Read More

A New Arrow For Your Quiver

I have never written a blog post about the trade setup that I’m about to discuss. For the most part we share pretty openly the setups and techniques we use on a daily basis to make money. I’ve been contacted by many developing traders who actually can’t believe the amount of information we provide free of charge via our blog. … Read More