Insufficient Trader Training

BellaMike Bellafiore's (Bella's) Blogs2 Comments

In our smallest office in our downtown Manhattan digs I was an actor in this conversation. “We make trading too hard,” said the new, gregarious trader. “I am not sure what you mean.  Trading is about learning set ups and then mastering the fifteen subsets of each play,” I replied. “See that is where I think I go wrong.  I think trading … Read More

Psychology Drives Price

sspencerSteven Spencer (Steve's) Blogs1 Comment

RIMM reported after the close today.  It traded up over 20% from its closing price.  You are going to read a lot of articles about how they “blew away” expectations and gave great guidance.  The articles will assign these as the reasons for RIMM’s explosive up move after the market closed.  Really?  I don’t think so.  Do you believe that … Read More

Learning to Let Go

gmanGeneral Comments2 Comments

One of our talented young remote traders sent me the following email a few days ago and I thought this was an important topic to address. Below is his email: Gman, I had a hell of a time with ACN this morning. There were a lot of screw jobs, and fake outs. The price action was very choppy and it … Read More

Tuesday Morning Fun – Excessive Celebration

gmanGeneral CommentsLeave a Comment

On our desk we frown upon excessive celebration after making one good trade. Many get in an excited mental state which causes them to make several bad trades in a row. One of our traders found this link this morning. This is clearly an example of excessive celebration. Wait for the score at the end of the clip. Enjoy. … Read More