Do you think you should be doing better as a new or developing trader? The concerns of one SMB Trader and my discussion with him can provide some insight into the best start to your trading career and the importance of culture. Bella, I’ve been thinking about what you said yesterday about being properly prepared. I’ve been getting better … Read More
When do I move on from a stock?
It’s time to move on, time to get going What lies ahead, I have no way of knowing But under my feet, baby, grass is growing It’s time to move on, it’s time to get going Tom Petty Bella, Yesterday I got absolutely chopped up in JPM. I could not believe how much I lost in such a short amount … Read More
A hint to make more this earnings season
After the close SMB met in its training room for a talk led by me. I haven’t given many talks of late but I thought the desk was due for one after my observations of their trading. It is earnings season. There are tricks to scoring. And there are things traders do to harm their results. Trying to hard is … Read More
Five Suggestions for Traders
I was in my office today working on my next book The PlayBook when I got pinged with this from the trading community: Mike, what do you do when you’re a practicing trader, working, saving, and studying to begin trading live, and you feel your motivation begin to peter out. You have this goal but the road there seems like … Read More
I See Momentum Buying
I settled at my trading station wondering what to trade on this Open. RHT? BBY? AMLN? There had not yet been a price spike on the SMB Radar in health care yet but I would later ask what and where to buy for that sector. BBY showed some consistent selling at 25 so I scalped that down to 24.60 on … Read More
Is This Trader Complacent or Patient?
Bella, How do you distinguish between patience and complacency? Patience is what I call it when I’m riding a trend. Complacency is what I call it when price initially goes my way, but then retraces and eventually stops me out. This happens to me most in two cases. In these cases I feel as though more aggressively taking profits would … Read More
Why buying a stock at a higher price can be better
I received this review from a really solid young trader. There are two important trading lessons in his thoughts. Can you spot them? Biggest regret today: not using the information I collected on ITMN as a short. I was watching above 17, I had a long bias, but I chose not to buy it because of what I saw. The … Read More
Are You an Overconfident Trader?
Hi Mike, I’ve been trading awhile and I’m certainly getting better at it. I’ve noticed a recurring problem. Whenever I get a good streak going and I start feeling like I’m getting the hang of it, I hit a losing streak. Sometimes it’s a week or two of gains everyday and then a slow meltdown to give it back. I … Read More