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
Traders Ask: Scalp or Bigger Move?
Bella, I have question about getting in front of a big order. I’ll use GOOG as the instrument. Suppose 600 is a major technical level, and GOOG has been trading around it for 1 hour. A big bid comes at 600.10. The next several bids are small sizes at 599.75 or below. Let’s say GOOG is trading at 600.10/600.20. Now I … Read More
Traders Ask- How Do I Gain and Edge Trading Midday? (And thoughts from Vegas)
Hey Bella, Big fan of the SMB Blog and have been trading for about a year now. I engulf myself in as much helpful and educational trading literature but seem to struggle figuring out afternoon trading. My style is that I only follow and trade the same couple stocks every single trading day. These stocks typically have small gap moves … Read More
Traders Ask: Am I Too Old to Trade?
I have read this book and am incredibly inspired. Without going into further details, would you say age is a barrier to becoming a prop trader? At some point is one past the age where the skill set is present? Let me say that I am 50, have a fulltime job and am up 35% YTD and 140% off … Read More
Traders Ask: Should I Have a Max Give-Back Rule?
Hey Bella, How is everything? I have a question for you. I have this one problem (amongst many others) that I am having a tough time overcoming. Whenever I make a few good trades on the open and I have a nice P&L for the day I sit there the rest of the day and force trades and give back … Read More
A Database To Improve Your Technical Analysis
Reviewing my notes from Bounce I came across this passage: This is so funny as I was in a meeting with my partner, Steve Spencer, the other day with us talking to one of our better traders. Steve suggested for this star trader to take a snapshot (capstone capture) of his charts after his best trades and create a personal … Read More