The other day Downtown Trader asked me how I handled trailing my stop on that DGX short. I pretty much followed exactly what’s in my post about how I take partial profits. I moved the stop to breakeven once my gain was equal to my initial risk of 50 cents per share. […]

SD Trader wanted to know:

Mike, I was hoping you could look at SBUX for today’s trading session and show me how you would trade this stock. I got in today at the $36.25 breakout but my stop was too tight (ts.05) and I got stopped at $36.38. Specifically, provide when you would change […]

I’ve had several people ask me for more details about my trading process and the software that I use. Hopefully this post will answer those questions. Please leave any other questions n the comments section. I’m going to run through the hardware and software that I use as well as how I manage […]

What a coincidence (do coincidences actually exist???) that just as I’ve been thinking more about money management Worden has had a run of users writing in about money management. Here are some of those letters which were published in the Worden Report (emphasis & links added by yours truly):

Tags: 80/20_Rule, Exits, Expectancy, Kelly-Criterion, Money Management, […]

Here’s a comment that Justin left yesterday:

I read many charts these days and have some sense about enter a trade . For example, when 50 ema cross 200 ema and use kd as enter signal. It’s not bad for entry. After i coded my though and do back testing on tradestion. The result is not […]

Here’s an interesting article which discusses entries vs. exits. I certainly agree with the author that most people place way too much importance on entries and not nearly enough on exits. I know from my email that some of you are having trouble keeping your losing trades small. I used to have […]

I’ve gotta write another one of these reminders to myself to take partial profits. I had a real nice trade going early this morning when I bought 1,000 shares of NYNY at $4.94 (I took the ‘dummy‘ entry as it rose above the highs of the 9:45 candle). The stock proceeded to run […]

I decided to sell half of my PARL position yesterday once it hit a 10% gain. Taking partial profits is something that I’ve got to get better about doing, especially in choppy markets. I still want to try to let my winners run but at the same time I don’t want to give […]

Here’s an article by Adam Hamilton about how to speculate successfully. It covers what should be familiar topics — money management, position sizing, trailing stops and expecting the unexpected. Here’s a snippet:
This week I would like to discuss tactics that speculators can use to survive and thrive in a limitless environment. The markets […]

Andy Dunn was nice enough to send me a copy of his new book, Great Companies, Great Charts, to review. In the book Andy explains the trading system he developed after his portfolio took a beating during the recent bear market. His system, which has some similarities to CANSLIM, is very simple — […]