Every so often a trader will find me and say,”I am going to step it up.” I love confident traders. And every so often Steve, GMan, JToma, or I will tell a trader that they need to step it up. And you can sense after the talk they would run through a wall if that is what it took to … Read More
From the Mailbag
I received the email below today. Great question. I thought I would share. I am sure others who read SMB Blog have had the same question. So please read the email below and our response. EMAIL Hi Mike, I’m an equity trader at a hedge fund and read your SMB trading blog routinely and very much enjoy it. I’ve read your … Read More
Fake Breakdown- ROK
I traded ROK today. It was an excellent trading stock. And it’s still acting well. Tomorrow if ROK holds above 23, then I will get long. At 20.60 the bid would not drop. This was the catalyst for an explosive upmove. I was in this move. Chop! And later ROK would not trade below 22.80. And I started a long … Read More
Learn How to Score
I shorted ROH in the Premarket. Chop! I shorted CAT on the Open. Chop! And then CAT got hard. I made some and I lost some. And as I like to kid our desk, then people started bothering me. Roy generally bothers me first about something I need to do for him. Roy runs SMB Training. So if you are interested in … Read More
Bidding, Offering, or Sweeping
The most difficult thing for us to teach is when to bid and offer or sweep. To sweep means to pay the offer and potentially through the offer if you want to get long. I set my sweep key to pay the offer or through the offer by up to three cents. This is a matter of preference. Some traders … Read More
A Day on the Street
SMB offers the very best intraday equities training program on the Street. We meet hundreds of college students seeking an invitation from our desk. And many ask what it is like to trade with us. Before anyone is asked to accept an invitation we mandate that a candidate meet with traders on our desk. A candidate may ask any question … Read More
A Core
Most of the trades that intraday traders make are from move to move. We short a stock when it shows some temporary weakness and then cover when it slows into its downmove. These trades can be held for less than a second at times. But most good intraday traders also hold longer intraday positions. We hold a core position. Basically … Read More
Consolidation
My views about just trading with charts are well known on our desk. This is the most difficult way to start your trading career. This is like trading with one hand behind your back. Learning how to read the order flow is essential for most to be consistently profitable traders. Chart reading is best used to supplement reading the tape … Read More