Trader Mike

Michelle B submits:
When volatility is the name of the game as it has been this week, it is important to remain calm, focused, and honest. The name of the previous game was low volatility for several months. The push for performance and the angst at missing big opportunities presented by such volatility [...]

Michelle B submits:
Sylvain Thibault commented:
I read somewhere you never give back more than half your profits on a trade. How do you trail your stops on a day trade eg: yesterday’s MXIM.
Perhaps you are referring to this excerpt from the StockTickr interview:
StockTickr: What’s your exit strategy for winning and losing trades?
Michelle: My [...]

Michelle B submits:
After noticing PSA on the top ten losers’ scan on the NYSE during this past Friday morning, I checked out its daily and saw a potential second, measured down leg from a bear flag:

PSA gapped down a bit at the open, did a down leg, based at its lows, and then at 1 [...]

Michelle B submits:
Estocastica described his trade in MCO yesterday. From noon to 2 P.M., MCO traded in a very tight price range which was essentially a bear flag. This bear flag inclined into the descending 15 minute 20 sma on low volume until shortly before 2 P.M. when the volume picked up a [...]

Michelle B submits:
As any trader knows, we can easily lose perspective when trading. Here’s a little aid to help in keeping one’s perspective.

Tags: psychology

Michelle B submits:
Taz Trader discussed the diamond pattern forming in the Q’s in his second post dated February 5 and provided a nice chart of the formation in progress. Diamonds are both rare and very tricky. Quoted from How Charts Can Help You In the Stock Market by William L. Jiler [...]

Michelle B submits: In his latest book, Enhancing Trader Performance, Brett Steenbarger said that it is important to find one’s niche in trading. If we do that, then we will be uniting our talents and interests with trading. Because we will be enjoying ourselves, we will be more receptive to following the [...]

Michelle B submits: In the film, The Object of Beauty, when the hearing-impaired hotel maid was asked why she stole the valuable, small Henry Moore sculpture from one of the hotel’s rooms, she replied that it spoke to her. The pattern VCLK set up this past Thursday spoke just as eloquently to [...]

In case you missed it in the links section the other day, be sure to read the interview with Michelle B over on the StockTickr blog.

Tags: Articles, Interviews

Michelle B submits:
Daytraders are often criticized by investors. Apparently, daytraders dabble in the risky business of speculation, while investors do not, despite the generally accepted perspective is that anyone buying or selling a stock is speculating.
Daytraders are often described by the investor bunch as being forever glued to their screens, watching every tick. [...]