Find an ATM and Use It!!

Do you have a stock that due to both technical and fundamental reasons  has traded in pretty much one direction for weeks or months? I do…for the last few months it’s RIMM. I have RIMM on my screen everyday and I know exactly how it feels, moves and reacts. I play it virtually every day and use it like my … Read More

Happy Buddha Says

An email from a new trader: Hi Bella, My Weekly Goal: 1. Being patient to wait for great setups to get aggressive 2. Trade 200 shares responsibly on excellent R/R setups 3. Go over entire Reading The Tape lectures again 4. Recognize bigger picture and trade stocks that move away from prices 5. Get more well-rounded in this new market … Read More

Discipline, Focus and Patience

The above three words have been written about many times by Bella and Steve and you have read about them in countless other places. Becoming consistently profitable in day trading requires the knowledge and use of all three! I would like to give a simple thought from my trading yesterday intertwining the three principles… At one point yesterday if you … Read More

Trading this volatile market

After the close some traders who I personally mentor send me a review of their day.  One trader emailed: Overall- Today was a productive day both in terms of learning and in terms of P&L. I have had better days in terms of P&L, but I came out of a hole on the open and I am more proud of … Read More

You need to make more right now

A veteran trader stood in my office, mind racing, frustrated at his results from the past week. “You know Mike during 08 I made a lot of money getting back into trading after being away from the game. I told myself that they next great trading opportunity I wanted to be on a trading desk making real money. I am … Read More

Traders Ask: Do You Wait for a Stock to Open?

Hi Mike, I seem to recall you mentioning that one way to catch opening drives is by watching the first ticks of the stock when it opens. My question is: do you trade the first ticks of a stock when the specialist is not there yet, or do you wait for him/her to show up?   Thanks in advance, and happy … Read More

A better stop

A frustrated new trader stepped into my office to discuss a few specific trades from yesterday. He got wicked out of a good short in CVC and a few longs in C into the close. He was looking for some guidance. First there were a lot of things this new trader did well. He was in the right stocks. He … Read More

What You Might Learn in Your First Weeks in Trading

Below is a great example of what you might learn in your first weeks of trading. Hi Bella, Friday was my second day trading live. So far I’m up $72 on day one and up $72 on day two. I could have done much better on Friday, but I chipped back bits by bits during the mid day. I wrote … Read More