Sometimes the best trades just come to you

Sometimes the best trades just come to you. Today was a perfect example in SUPN.  During our 11AM mentoring session with our new class, we discussed this important trading lesson. Yes! we need to prepare before the open. Yes! we want to develop theses for trades. Yes! stock selection best for you is important before the market opens. But we … Read More

The real stop

A trader on the desk wrote this in his daily review: Took the train home with (redacted, Senior Trader at firm) today, we had a really good chat. Seeing how far he has come and how he views trades.  Does Not trade price action so much. He focuses more on his overall idea and trades it loosely.  Shorting rallies covering … Read More

SMB Webinar: Interview with Prop Firm Trader

Attend a live web meeting where Mike Bellafiore and Merritt Black will have a conversation with a trader from our firm. Learn about his path to becoming a trader at our firm and take away lessons to help get you to the next level in your trading. Register to attend this free live webinar, Thursday, September 21, 2017 at 4:15 … Read More

How to improve your discipline as a trader

A new trader wrote this to me: Noob (trader here).  Two months in with maybe a total of 3 days where I consistently followed my rules.  Down about 2k thus far.  I am questioning my ability to do this.  Mainly because of my lack of discipline in following my rules. There is the old parable about the frog that asks … Read More

When you are trading well…..try this

During a daily review one of the firm’s top traders observed this about this trading:  I am feeling confident about my trades, seeing the markets well, and want to leverage this period here to trade aggressively as long as I am staying in sync. Dr. Steenbarger has taught us traders to study, study, study the trading periods when you are … Read More

Getting in the back door at a prop trading firm

Yesterday Merritt and I had lunch with the winner of The Winning Trader.  This is a short training program that exposes developing and new traders to setups with edge.  The idea is to gain exposure to setups for students to try and see if they work for them, build a PlayBook, and learn how pro traders attack the trading day. … Read More

What are you going to do about it?

Last night a trader sent me a review from a very poor trading day.  He wrote: Little mad at myself for not taking 2 of my best setups in UVE below 18 and HCI at 32.  Had the alerts go off but didn’t take the trade, and those trades played out to perfection. It definitely got under my skin most … Read More