Hi Mike In your book you mention several times that you ask potential traders what blogs a trader reads. Sadly when I thought about this (and prior to this blog) the answer for me was none. I read heaps, seek out videos, study my trades, would love a mentor etc. but no blogs). Why? When I started trading stocks I … Read More
Traders Ask: What is My One Good Budget?
My name is (XXXXXXXXXXX) and I just finished “One Good Trade.” I enjoyed your book very much and I wanted to send a few comments your way. Personally I am a full time day trader from home. Currently I am concentrating on the SP emini but after reading your book I feel as though I need to start looking for … Read More
The One Penny Difference
FDX broke down technically below 82.71-82.65 intraday. 83 was a prior important intraday level. The sellers won that battle. FDX found 81.80 in a nice downtrend after the technical break. And then we had another excellent opportunity for a technical trade. We had another A trade. When a stock breaks a technical level like at below 82.71-82.65, makes a … Read More
Mike Bellafiore on the Gabe Wisdom Show
Listen to this great show by Gabriel Wisdom from Business Talk Radio. He sits down with Mike Bellafiore, author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading, and discusses why traders fail and what SMB looks for in the next great trader. Mike Bellafiore enters Gabe’s show twenty minutes into his broadcast. Gabriel Wisdom hosts regular … Read More
Trading is About These Moments
Becoming a consistently profitable trader can be summed up in the ability to manage these trades from today. 1. Whether to buy RIG above 60 2. Trading SVNT at the 18.50 intraday level 3. SINA after it broke above a bullish flag pattern to 46.75 4. What to do when SPY hit 112 today. These were some moments from the … Read More
Traders Ask: Why Don’t You Trade Light Volume Stocks?
Hey Mike. Hope you have had a great weekend. In your book (In Play section) you mention you prefer the stock to do at least 1 million shares, and that you stay away from stocks where the daily volume is likely to be less than 600k shares. The thing that makes me confused is that this makes no sense to me … Read More
Traders Ask: Do I Have to Go to the Right School to Become a Great Trader?
I just turned 19 over the summer and I’m a student at UNC-Wilmington. I’ve been interested in trading stocks and options (mostly options) for a few years now as my father day trades some, but he’s a carpenter so he can’t watch the market all the time so he has had mixed success. I’ve done a fair amount of paper … Read More
Traders Ask: How Do I Get Better on Saturday?
Hi Mike, One of my goals for this 2010-2011 trading “school” year is to work six days a week instead of five. The other is to strive for perfect attendance. With regards to working on Saturday’s, I’m putting together my routine. These are the things that I plan to do. Review weekly P&L & Ticket averages (i.e. My Numbers … Read More