Good afternoon Mike, I read One Good Trade, and I pre-ordered The Playbook so I could get some additional insight into professional trading. I saw quite a few references to buying the support plays or selling the resistance plays, and I was wondering about the strategy, so my question is overall do you try to buy the low or sell … Read More
Do you have a news edge?
Last night I had dinner with Ravee Mehta, author of The Emotionally Intelligent Investor and former hedge fund trader at Soros Fund Management, hoping to learn more about getting a real news edge while trading. On my desk I hear my guys talking about Conviction Trades before the stock confirms their thesis. I have worked with very experienced discretionary traders who … Read More
Does the 10,000 Hour Rule Apply to Trading?
It takes purposeful practice AND 10,000 hours to become great at anything, says this latest blog from Barking Up the Wrong Tree. I write about one way to practice purposefully in my next book The PlayBook (which you can preorder), by creating your PlayBook. I have written about other ways extensively on this blog (some examples below). Improving Our Performance … Read More
It’s Called Trading!
As part of our training process we ask our remote and in-house traders to tune into our training calls. I was trading AIG in the close and was leading the call. I received a couple of emails from some new trainees who were just confused by my style of trading. Their questions and comments are quite valid and educational so … Read More
Picking Your Tier Size, Part I
Happy new year to you all! I have spent some of the last few days off thinking about my trading and things I need to improve this year. While watching my archive of tapes in the days that I struggle I have found some inconsistency with my tier size. I have seen this problem in a couple of our guys … Read More