Can You Just Play as a Trader?

If POT breaks 112 then I will get long. If RIMM hits 65 I will start a long term short. If MON gets above 70 then I will get long and try and stay long till 74. If AAPL breaks 205 I will whack the bids and play the downside momentum. All of these are example of excellent trading plans … Read More

What a Strong Stock Looks Like

DE was a strong stock this AM.  I blog this point besides DE being at its 52 week high.  And save that DE was up over 2 1/2 points.   There was a telling movement on the open from 51.50 to 51 which foreshadowed a new intraday high to visit.  Let’s discuss. SPY 111.50 is an important intraday level.  We … Read More

Ten Interview Tips for Proprietary Trading

Written 11/13/09 It is recruiting season for SMB again. That means some long trips, like the one I am on now, stuck on a train Friday night between Providence and New Haven. I actually got on the early train mistakenly and am in danger of getting booted off the train at New Haven. Seriously, the Amtrak ticket collector (that is … Read More

When Not to Dump Your Stock

“Stop the tape,” barked the engaging if not brilliant firm partner (wait till you find out who this describes) during a Video Review Session. He continued,”What are your thoughts of NVTL presently?” A few brave (ill-advised?) noobs blurted,”Move on!”  And I could swear there was some booing to emphasize their opinion of the NVLT they had just witnessed on the … Read More

Letting an IPO Run

“Bella I cut too early.” “Damn I cannot believe I sold that FSLR a point ago.” “I am such a wuss FSLR ran 3 points after I sold it.” I heard all of these statements on my prop desk today.  Selling early is a constant struggle for all of us. One position that I let run is an IPO holding … Read More

One Good Day

Yesterday was a good day for our desk. It is days like yesterday that make me upset the market is not open seven days a week. Trading can be very frustrating but when you do the right things it is freaking sweet. It is nice to see that the hard work pays off. There are days when trading feels like … Read More