Archive for October 2012

Greed Is Bad. Just Ask My Sanity.

Oct 31st, 2012 | By | Category: General Comments
One of the most iconic images people have of Wall Street is the scene from the first Wall Street film where Gordon Gecko delivers his infamous monologue that begins like this, “Greed, for the lack of a better word, is Good”. Since greed and it’s first cousin fear still drive markets, it does serve a purpose in terms of creating opportunities for those who understand its nature. When it comes to short term speculation on the other hand, it can be very counterproductive to your performance. How many of you can relate to the following situation? You enter a trade based on your plan. Everything has lined up. It is an intraday Read more [...]


My Worst Trade

Oct 29th, 2012 | By | Category: General Comments
By marcp | View this Toon at ToonDoo | Create your own Toon Recently I was going through my trading notes and I happened to come across a trade that I documented a while back. And after looking it over, I realized it can serve as a good lesson to present to newer traders who may not realize that they are also making this costly mistake. Somewhere in our learning curve, we have all done the old “let’s move the stop away from the market because I know this market is going to bounce as soon as I get stopped out” trade. Or worse, we have done the “I will use a mental stop, so I don’t get shaken out all the time” trade. My Read more [...]


Broken Wing Butterflies Are Back

Oct 29th, 2012 | By | Category: General Comments
This post is another in a series that we will be publishing which track the hypothetical performance of broken wing butterfly trades selected by Greg Loehr of Optionsbuzz.com. After taking a break from blogging, I'm now back to continue contributing to the understanding of what I believe is among the best strategies that a trader can have in his (or her) arsenal:  the broken wing butterfly.  But just because I've been away from this blog doesn't mean that I haven't been in touch with my students.  Quite the opposite in fact. And after speaking with various SMB followers over the past month or so I've learned that there Read more [...]


IF I Develop a Trading Plan THEN My Results Will Improve: EXPE (10.26.12)

Oct 26th, 2012 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trader Development
I tweeted this week that trading is about having a series of if/then statements and not about making predictions. In practical terms this means that traders are game planning for every stock on their watch list. They are making decisions on how to trade each name based on price action, market conditions and news catalysts. For every stock I look at each day I have an understanding of what conditions would lead me to make a long trade, short trade or no trade. By developing these ideas in advance it makes it easier to execute in real time as additional data is being presented. Let's take a look at EXPE from today. This is a stock Read more [...]


SMB Forex Trading Room Recap 10.25.12

Oct 26th, 2012 | By | Category: General Comments
In this segment, Marc Principato, CMT explains the importance of a trading plan and specifically about how many different elements must come together in order to have a robust plan. A trading plan is not about execution alone. -- Marc Principato, CMT Risk Disclaimer *No Relevant Positions Forex Swing Trader 6 week online program - LearnSMB's unique price pattern setups Read more [...]


Yesterday’s Option tribe: The Seven Fundamentals of One Good Trade – Mike Bellafiore

Oct 24th, 2012 | By | Category: General Comments, Options Education, Seth Freudberg's Blogs
SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by veteran options traders and experts in the world of options trading. This week, Mike Bellafiore, author and founding partner of SMB Capital and SMBU made a presentation on the principles of "One Good Trade" to the Options Tribe community. If you couldn't make it to the live webinar, here's your chance to watch the recording. To view the recording: Click Here Make Read more [...]


Forex Trading: Less Fighting More Fishing

Oct 24th, 2012 | By | Category: General Comments
Much of the time when you read about trading, many use metaphors that refer to competition or war. You will often hear phrases like, “the forex arena”, “bulls battling the bears”, “you compete with the best and brightest minds in the world”. This is convenient and filled to the brim with conflict (we love drama just watch the news). What the general perception of market speculation tends to ignore is the passive and perhaps less entertaining side of the trading equation: the waiting game. As newer traders enter the market and begin to “inform” themselves as to the inner workings of their particular instrument, Read more [...]


SMB Forex Trading Room Recap 10.23.12

Oct 23rd, 2012 | By | Category: General Comments
In this segment, Marc Principato, CMT explains the the difference between the two kinds of patience a short term trader must have in order operate effectively. There is the patience of waiting to get in and the patience of waiting for a target. -- Marc Principato, CMT Risk Disclaimer *No Relevant Positions Forex Swing Trader 6 week online program - LearnSMB's unique price pattern setups Read more [...]


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1. SMB TRAINING is NOT a Broker Dealer. SMB Training engages in trader education and training. SMB TRAINING offers a number of products and services, both electronical (over the internet through smbtraining.com) and in person. SMB TRAINING also offers web-based, interactive training courses on demand.

2. The seminars given by SMB TRAINING are for educational purposes only. This information neither is, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities. You shall be fully responsible for any investment decision you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.

3. This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by SMB TRAINING or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.

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5. No relevant positions

6. Please note: Hypothetical computer simulated performance results are believed to be accurately presented. However, they are not guaranteed as to accuracy or completeness and are subject to change without any notice. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Since, also, the trades have not actually been executed; the results may have been under or over compensated for the impact, if any, of certain market factors such as liquidity, slippage and commissions. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any portfolio will, or is likely to achieve profits or losses similar to those shown. All investments and trades carry risks.

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