Question: My question is how big a move do you typically look for on a fairly quick intraday scalp trade ? I know we take what the market gives and the skill is to know “when to hold em and when to fold em”..but I wonder what the mindset is. Example: watching LVS pull back to 46.70 today just before … Read More
Is It Your Practice?
Today while eating my AM protein bar (preparing for my wedding in two weeks 🙂 ) I saw a quote from a coach who really gets it. I feel for him. His analysis is so courageous as it will not pacify his school’s fans (fanatics?). It is not what they want to hear. Most would prefer some banging and screaming … Read More
Traders Ask: Should I Trade Stocks In Play?
Hi Mike, I hope that my email finds you well. I have a question about trading stocks that are in play. I’ve studied several approaches to game planning. 1) Come in with 10 – 20 stocks that have potentially good daily set ups, and wait for good intraday price action to confirm that its worth trading. I’ve found that this … Read More
Traders Ask- Am I a Moron for Fading Stocks In Play?
Bella, How is everything? I have a few questions for you. I know I always bombard you so if you are too busy to answer no worries at all. 1. How do you know when it is time to scrap a trading play? I have tried to fade names that have reported good numbers many times and I have lost my hat. … Read More
The Best A Set Up for this Market (An Example- AMLN)
Last week SMB visited the selfless trading conference held by Tickerville. My call was to share an A set up. A set ups are our favorite trades. We have A trades, B trades and C trades. With an A set up we trade a stock with more size, hold longer, and perhaps set a larger stop. We put on 30 percent … Read More
CREE, 48.60 and How You Find the Most Important Level
After the close yesterday CREE reported. Immediately CREE traded lower from 53ish to 47.50. But there was a level more important than all others. I tweeted it. Twice! And it was the level of all levels. Besides cherry picking an example to pump myself up 🙂 how do you find this most important level? Mike don’t I just look on … Read More
Traders Ask: Pullback or Reversal?
Hi Mike A common mantra repeated in most trading books is “follow the trend” and the process for doing so buy/sell through dips. Sounds easy however there are multiple complexities rarely discussed such as: – Few stocks continue in a nice straight line – The stock you’re watching is in a great bull trend, but the market is weakening … Read More
Traders Ask: The Psychology of Multiple Trading Accounts
hi mike, I have been following your terrific blog for a few months and have just finished reading your book. The book was refreshingly different and very instructive -especially the chapter on reading the tape.And the questions you have recently answered in your blog about age[I’m 50 plus andwant to be a full time trader] and finding stocks in play … Read More