Every trader must see their big picture. At SMB we make trading decisions based upon three factors: Reading the Tape, Technical Analysis, and Intraday Fundamentals. We teach our traders to think of a big circle with each of these factors inside. How do you determine your big picture? Today during an informal discussion one of our new SMB Training traders, … Read More
My Book is Sold Out: A Social Media Tale
My book One Good Trade is sold out. This took three weeks. A rush reprint will be underway soon. Save a few exceptions, it is now only available on the Kindle. I was told, “This has never happened before with a trading book.” This is a social media tale. I considered hiring a PR firm to rep my book before … Read More
Traders Ask: How Do You Record Your Trading Screens?
Reader John asked: Mike, I just got done reading your book and I loved it. I thought it was the best trading book I have read. I have been a full time prop trader for 6yrs. and read a lot of books and found yours extremely valuable and enjoyable. Your book spoke directly to me as a very active prop … Read More
Shorting MDT
We make trading decisions based upon three factors: intraday fundamentals, Reading the Tape, Technical Analysis. I traded MDT today using all three to start two shorts. These are trades that if I made 1000 times I would profit. Intraday Fundamentals We trade stocks with fresh news. Today we had new news with MDT: Co issues downside guidance for FY11, sees … Read More
HPQ BIDU and some JAZZ
Well its slow out there. This AM there were only a few stocks with fresh news. JAZZ was one of them. HPQ and the proposal of them potentially buying PAR was another. So I traded both. As I write I am also short BIDU. Let me share my thinking. JAZZ From Briefing.com: Jazz Pharma shares trading 30% lower following Friday’s … Read More
First Team Wall Street: The Next Generation
Give me six hours to chop down a tree and I will spend the first four sharpening the axe. — Abraham Lincoln An extensive FX training program is being created for a college investment club as I write. The creator is a junior in college. A bright young trader visited SMB from the Midwest for a tradecast during summer vacation. He … Read More
My CREE Trade
About two hours ago I tweeted: $CREE near 60 huge R level @biggercapital responded: would like to hear your what if scenarios RT @smbcapital: $CREE near 60 huge R level And then came @readerfinance: would like to hear your what if scenarios RT @smbcapital: $CREE near 60 huge R level: would like to hear your what… http://bit.ly/dodYtu At SMB we … Read More
Traders Ask: Must I Learn Opening Drive Plays?
“I never think that there’s something I can’t do, whether it’s beating my opponent one on one or practicing another hour because something about my game is just not right.” Earvin Magic Johnson Hey Bella, Hope you are enjoying this gorgeous weather! I know you are probably being bombarded with e-mails because of your new book (which I am … Read More