It’s funny… we had a webinar yesterday and it demonstrated how many different ways there are to look at the markets. We are intraday traders yet there are so many distinct ways to intraday trade. Trade with the trend. Fade. Scalp. Momo trade. Swing trade. Slow movers. Stocks that sprint. Moving averages. No moving averages. Charts. Some charts. Reading the Tape. … Read More
The Weekend Review
A terrific exercise for traders is The Weekend Review. I received an example from one of our traders and thought it could offer some ideas for readers interested in starting or improving their Weekend Review. Over the weekend I went over my results for February. Lack of discipline in hitting out of my stocks, being stubborn, and breaking my own trading rules … Read More
Path to 1K Terminated
We challenged some of our newest traders to expect more from their results recently. We wanted to push them toreach for a goal just outside of their present ability. This is how you improve at anything. You push yourself beyond your comfort level for a new goal you are not quite good enough to obtain. Every night I asked these … Read More
The Back Nine- You First
On the couch, wife out of town, a full container of perfectly ripe cantaloupe, what is a young man to do? I found a killer documentary, not via NFLX, The Back Nine that has left me with a day full of thoughts on trader performance. First should we teach traders to work through their psychological hurdles before we talk set ups? … Read More
If 1 Why Not 2?
One of our traders, The Original Jersey Shore, was long big at support in CEPH at 58.50 (Trade 1). He got stopped out. After the close he stopped into my office to discuss. He did not get long above the top of the range after consolidation above 58.57 (Trade 2). If you are in 1 why not 2? Shark was … Read More
Traders Ask- Why the Discrepancy? (Midday Trading)
Bella, I have a question about trading midday. The lecture on times of the day (Day 15) seems to recommend giving extra room on the downside and the upside during midday trading: In most trades you need to give your stock a bit of extra room to both the downside and the upside. Your mentality is to find plays that … Read More
Trade Review CTXS
A new trader sent me his thoughts on his CTXS trading today (see chart below). Here is what I really like about his trading: a) He was in complete control of his trade. b) He does an excellent job of finding a way to be bigger for the next time he sees a similar set up. c) He is … Read More
Getting Started as an Active Trader
I was asked to speak at the TraderExpo next week by LightSpeed on this topic: Getting Started as an Active Trader. Here are my bulletpoints on what you need: 1. Domain Knowledge 2. Intrinsic Motivation 3. Critical Feedback 4. Purposeful Practice 5. Luck 6. Talent 7. Growth Mindset 8. Your PlayBook 9. Value-Add Environment 10. Mentor What do you think … Read More