Special No More

“Morning or night, Friday or Sunday, made no difference, everything was the same: the gnawing, excruciating, incessant pain; that awareness of life irrevocably passing but not yet gone; that dreadful, loathsome death, the only reality, relentlessly closing in on him; and that same endless lie. What did days, weeks, or hours matter?”  ? Leo Tolstoy, […]
Slope of Hope

Vegas Expo 2017 Two Week Trial Member Special

If you’re new to Afraid to Trade or have been wanting to check us out, I wanted to extend an offer to come on in and see what we’re doing!

Here’s your chance to step behind the public blog to a two-week trial of our membership site:

Two Week Trial

I’ll also add a few bonus items for registering and joining us during your visit with us.

Go ahead and register now – I won’t keep this offer on the open blog long.

Take advantage of this special limited opportunity window!


Afraid to Trade.com Blog

Join Us Friday for a Special Traders Talk Live Day of Webinars!

I’m so excited to join the line-up of expert traders who will be presenting various strategies for you all day Friday!

I’ll be discussing my favorite Trend Day Recognition and Trading Tactic – how to spot and profit from Trend Days – at 3:15 EST (right before market close) so be sure and register now (free) and join us.

I’m excited to hear from the other speakers as well!

For my topic, I’ll be discussing the following:

C’mon and join us!  Go ahead and register now and plan on attending one or all sessions live!

Thank you to Traders Talk Live for this exciting educational opportunity for the trading community.


Afraid to Trade.com Blog

March Class Special: Detecting Tradable Setups and Reliable Signals with Corey

I’m excited to announce an upcoming full-month of classes and actionable trader education for you as we continue our journey through 2017!

Entitled “Practical Technical Analysis: Detecting Tradeable TA Set-ups and Acting on Reliable Signals,” I will be sharing with you my clear trading strategies I have developed through extensive research and practical application experience over the last 16 years.

The classes will be hosted by Wyckoff Analytics and my colleague Roman Bogomazov.

The five classes will…

begin with Foundational Price Methods and Materials (getting started),

highlight specific Indicators (what works/what doesn’t),

detail actual trade set-ups you can pinpoint after the class (with and against a trend in motion), and then

conclude with a special final session combining the material with your questions, interaction, and real-world examples happening right now.

I’ll be highlighting more for you as the class approaches but go ahead and reserve your spot today!

All live sessions will be recorded and available to class attendees with no expiration.

We can’t wait to see you there and get you on a profitable journey through 2017 and beyond!


Afraid to Trade.com Blog

Why this special trader failed to hit his stride with us

One of our special developing traders failed to hit his stride with us.

He worked as hard as anyone at the firm.  Everyday he sent me his in-depth daily trading review to my inbox.

His reviews set the standard for Junior traders.

He worked on his trading game in college, before he arrived at SMB.  I have strongly advocated for aspiring traders to start working on their trading game in college in The PlayBook and here.

He was coached by one of the top three NYC traders, during his training with Team Trading.

He learned to us technology to assist his trading with custom filters and scanners.

He even built some Read more […]
SMB Capital – Trading Education

October Special! Classes with Corey on Promoting Your Trading Confidence with Confirmation (and Wyckoff)

I’m so excited to announce a series of three in-depth classes in October!

Roman Bogomazov – expert instructor of Richard Wyckoff’s methods at Golden Gate University – and I are teaming up to teach you how Richard Wyckoff’s methods integrate with today’s markets and how today’s indicators help you recognize trading opportunities from Wyckoff’s original methods.

Entitled “Wyckoff Plus! Promoting Your Trading Confidence with Confidence,” Roman and I will guide you through Wyckoff’s original methods, price projections, pattern recognition, supply/demand, and strategies.

I’ll be teaching you how to use today’s indicators in combination with Wyckoff’s original methods.

Drawing on his experience, Roman will describe the unfolding of Wyckoff Phases in trading ranges (both accumulation and distribution), including Wyckoff events and their characteristic price and volume signatures, as well as trading tactics geared to these predictable events.

Then Corey will demonstrate WHICH indicators are most appropriate for each Wyckoff Phase, and how best to use these indicators, both to confirm (or not!) our structural analysis and even to alert us to additional opportunities or possible dangers!

We’ll share case studies, discuss trades/experiences from our own accounts, and model the lessons for you in an easy-to-follow, accessible format.

Click on to read more information about our “October Special – Wyckoff Plus!” classes and to register.

This is an exciting opportunity to ground yourself in long-standing trading strategies as adapted to today’s markets and indicators in popular charting programs.

We’ll be teaching these three Thursdays in October beginning October 7th and we can’t wait to see you there live with us!


Afraid to Trade.com Blog

Special Post – The Closing U.S. RTH Catcher’s Mitt Trade Sequence

For those who missed it, here’s a summary of yesterday’s catcher’s mitt trade narration posted live on Twitter as it was developing and executing.

Please read from the bottom up in sequence.

Given I talk about it quite often and it’s one of my staple trading sequences, I hope you find it useful!

Don Miller’s S&P Trading Tank

Potential fly in the index fund ointment: special access for some investors

My basic investing article cheerleads for index funds, largely based on Burton Malkiel’s 1973 research (subsequently updated and currently available as A Random Walk Down Wall Street (11th Edition)). “How Some Investors Get Special Access to Companies” is a September 27, 2015 Wall Street Journal article that should encourage a little doubt among the indexing believers.

Public companies are allowed to meet with favored investors privately:

The result is a booming back channel through which facts and body language flow from public companies to handpicked recipients. Participants say they’ve detected hints about sales results and takeover leanings. More common are subtle shifts in emphasis or tone by a company.

Access usually is controlled by brokers and analysts at Wall Street securities firms, who lean on their relationships with companies to secure meetings with top executives. Invitations are doled out to money managers, hedge funds and other investors who steer trading business to the securities firms, which in turn provide the investors with a service called “corporate access.”

Investors pay $ 1.4 billion a year for face time with executives, consulting firm Greenwich Associates estimates based on its surveys of money managers. The figure represents commissions allocated by investors for corporate access when they steer trades to securities firms.

A recently published paper in the Journal of Law and Economics analyzed the trading behavior of dozens of investors who met during a 5½-year period with senior management of a company listed on the New York Stock Exchange.

While the paper doesn’t identify the company or investors, researchers concluded that the investors who got face time with management made better trading decisions. Several large hedge funds met the company as frequently as once a quarter.

Brian Bushee of the University of Pennsylvania’s Wharton School and two other academic researchers concluded that trading volume picked up around the time of the private meetings. Trades made then were more likely to be profitable than trades made at other times.

Along the same lines, but not obviously actionable for the typical investor… “Insiders Beat Market Before Event Disclosure: Study” (WSJ, September 14, 2015):

Corporate executives and board members regularly make market-beating returns from buying and selling their companies’ stock in the days before disclosing a significant event, according to a study that says it has found a link between insider knowledge and investment profits.

On average, the officials netted about 0.4 percentage point over a broad market index between the time of their trades and the market close after the disclosure. These gains, realized over the span of a few days, would be much larger on an annualized basis.

When officials bought shares outright—rather than by exercising options received as compensation—the gains were even better, at about 1.6 percentage points over the index.

The longer companies waited to make disclosures, the better the returns, according to the study. When companies used the full four-business-day window, the average excess profit rose to 1.95 percentage points.

What does it look like in practice? “Towers Watson CEO Sold Stock Before Big Deal:
John Haley netted nearly $ 10 million on preannouncement sales” (WSJ, September 23, 2015):

In early March, when merger talks were under way between Towers Watson and insurance broker Willis Group Holdings PLC, Mr. Haley exercised 106,933 stock options and sold the underlying shares for a $ 9.7 million profit, according to regulatory filings. The sale was Mr. Haley’s first in more than a year and shed 55% of his stake in Towers Watson…

When the roughly $ 9 billion deal was announced on June 30, Towers Watson shareholders criticized it, sending the Arlington, Va., company’s stock down nearly 9% that day. Their beef: the deal’s price tag, which valued Towers Watson at $ 125.13 a share, or about 9% less than the prior day’s close.

Maybe the future of efficient investing has to include some managed funds that are big enough to pay for and acquire access to inside information?

Philip Greenspun’s Weblog

Join Me Thursday for a Special “Ten Tips for Trading Trend Days” Live Webinar!

I’m very excited about a special upcoming opportunity with Trader Kingdom where I’ll collect my experiences and examples and share those with you in a live educational webinar entitled “Ten Tips for Trading Trend Days.”

Pardon the purposeful alliteration but you’ll learn valuable tips and tactics for trading my favorite type of intraday environment – one that trips up so many new traders.

We’ll kick it off Thursday at 3:30 CST!

I’m also thankful to be the featured expert at Trader Kingdom for the month of May!

We’ll focus on indicators (which to emphasize and which to remove from your charts), set-ups, and strategies for recognizing and – more importantly – profiting efficiently from these powerful events.

They happen in stocks, ETFs, futures – anything that can trend can develop a trend day.

The information is free and I use these strategies whenever the market throws a Trend Day our way.

Join us live to learn how you can benefit right away from learning these time-tested, simple strategies.

Thanks to the team at Trader Kingdom and Ninja Trader for their ongoing commitment to trader education.


Afraid to Trade.com Blog

Special Post: Overcoming Doubt & Fear

Has fear and/or doubt overcome your trading … or your life?

And a gentle reminder as I mentioned in the book and blog throughout the last decade, that trading parallels life!

Keep this video handy … and PLEASE … listen to the words!

I reference it a lot … especially when I’m stuck in a rut of doubt.

And while faith alone won’t turn anyone – including me – into a super trader, it’s a wonderful reminder that fear and its source remain our common enemy.

So … as the song says … what are YOU waiting for???

Don Miller’s S&P Trading Tank