Planting Seeds

BellaMike Bellafiore's (Bella's) Blogs4 Comments

One of our traders had a great trading day.   He finished negative.  The market was up 500 points as the Obama administration unveiled its plan to remove toxic assets from the books of the nation’s banks.   BTW we now have traded up 1300 points since the day I left for vacation.  This trader did not make many trades … Read More

A Traders’ Market

sspencerGeneral CommentsLeave a Comment

We spend a lot of time on our prop desk focusing on skill development.  Trading intraday requires a certain set of skills that take some time to acquire.  If you are given good training and work very hard you will develop a set of skills in 6 to 12 months that will allow you to make money in all market … Read More

Getting Back In

BellaMike Bellafiore's (Bella's) Blogs8 Comments

Today a new trader asked me a question about getting back in. This new trader got long MS in front of a support level identified by Steve during our AM Meeting. The support level didn’t hold, this new trader exited, and then MS spiked. Sound familiar? Anyway, I was pulled aside to offer some suggestions how to get back into … Read More

Thanks Newbie

sspencerGeneral Comments, Steven Spencer (Steve's) BlogsLeave a Comment

SMB’s newest trainees have now been trading “live” for four weeks.  Before going live they went through an intensive five week program to establish the building blocks for a successful trading career.  During the first five weeks of their training they sit near each other on the trading floor.  This helps to build a sense of team and encourages them … Read More