Traders Ask: What Should I Do Midday?

  Hi, Mike! I asked for your advice about daytrader’s midday activity. What your young traders do tipically do during 12.00-14.00? I used to ovretrade during midday, so I decided not to trade at all during slow market hours. Can I do something useful for my trading game within two hours? Maybe rip through charts or watch some trading videos, … Read More

What is Your Big Picture?

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 … Read More

Traders Ask- Now What?

  Question: What do traders do for the rest of the day after they have been stopped out especially when it happens early in the day? Answer: Thank you for the excellent question. You trade on the demo. You make details notes in your trading journal about the set ups that ended as losers. You talk to others on the … Read More

Do What You Do!

This week Roy Davis, Director of SMB Training, and I headed to the 92nd Street Y to listen to Dan Pink discuss his excellent, well-researched, thought-provoking new book on motivation in the workplace, Drive. Dan challenges our present management model by presenting new evidence why a motivational work environment should offer purpose, mastery, and autonomy (see awesome Dan Pink animated … Read More

Intraday Reversals Indicate What?

In the final 3.5 hours of trading Friday we touched 109 three times on the SPY and 110.30 twice. Generally, this type of up down action does not instill much confidence in market participants, and many believe it is a sign of lower prices to come. I’m not in that camp. Someone definitely was dumping a couple of billion dollars … Read More

Them silly small caps move cleanly…say what?

Yup that’s right. Lately I have been a holder of a good chunk of those small caps. It requires a ridiculous amount of patience for them to move but when they do, boy can they actually move in an orderly fashion. Take for example CHTP, I’ve been long for about 6 days already but has been a relatively easy hold. … Read More

What Type of Market Are We In?

We are in a downtrending market!  What?  We are in a downtrending market!! What? downtrend!!!!!! What does this mean for short term traders? Short stocks if they pop to previous support levels If the market trends up for two days then pray for a third day gap up so you can short the market!! Trade with less size as downtrending … Read More