Archive for April 2015

The education of a trader: The PlayBook

Apr 26th, 2015 | By | Category: General Comments
mikebellafiore In my second book, The PlayBook, I advocate archiving a favorite setup from each trading session. After each close, choose a best setup from the session that fits your trading style.  Reverse engineer the variables of that trade.  Archive this trade in a comprehensive format, perhaps like the SMB PlayBook.  As traders we should build from our strengths, doing more or what works for us and doing it bigger, with more trading capital. The first step is understanding what we do well.  Study of our favorite setups after market hours and creating a system to do this is a best practice to improve performance. This Read more [...]

Covered Calls are Not all They are Cracked up to Be (SMBU Daily Video)

Apr 24th, 2015 | By | Category: Free Daily Trading Video
In our SMBU Daily Video, learn more about Covered Calls. In this video from Seth, you will learn: Covered calls are not all they are cracked up to be They limit upside while hardly reducing the downside of an equity play. They may have a serious tax flaw that is often overlooked. We hope this video helps your trading. *no relevant positions Read more [...]

The Education of a Trader: Trading on Tilt

Apr 23rd, 2015 | By | Category: General Comments, Trader Development, Trading Psychology
Our friends at asked: How do you deal with emotions in your daily trading? What are your tips and suggestions that help you avoid, if possible, making emotional and psychologically caused trading mistakes. @MikeBellafiore Trading on tilt is the 800 pound gorilla on every trading station.  On our desk today there were a few desk slams in this $FB, Facebook, as it changed direction as fast and frequently as an NFL running back. Managing your emotions as a trader is well.....manageable. In this video, I outline ways to help manage your emotions: Taking notes actively while trading in a journal Focusing Read more [...]

SMB Meeting Traders and Trading Students in Chicago June 19-20

Apr 23rd, 2015 | By | Category: General Comments
A quick note to share that I will be in Chicago Monday June 19 and 20 meeting traders and trading students. Traders Our firm backs discretionary and automated traders, offering proprietary technology and assuming all capital trading risk.  We trade stocks, options, futures and automated trading.  SMB, in its JV with Kershner Trading Group, also teaches traders from new/developing to consistently profitable, who fit our culture.  If you would like to meet and talk trading during these days, please reach out to me. Trading Students SMB Training trains traders in stock, options, futures, and systems trading.  Our Read more [...]

Handling Short Term Noise

Apr 23rd, 2015 | By | Category: John Locke, SMB Options
The S&P 500 is knocking at the door of the highest close in over a month. The path to this point was not straight. 7 of the past 12 sessions saw the index down significantly at some point during the day or pre-market. Do you get trapped into this noise and make adjustments based on the current tape rather than looking at the big picture of the market and -- more importantly -- your strategy? Just about the time you get tired of making adjustments because of noise, you decide to start sitting on your hands (ignoring adjustments that your strategy requires). That's about the time the next break out or the next overnight Read more [...]

The Third Week of More Mindful Trading

Apr 23rd, 2015 | By | Category: Bruce Bower, General Comments, Health and Trading, Trader Development, Trading Ideas, Trading Lesson, Trading Psychology
The Third Week of More Mindful Trading In this post, I will continue my eight week experiment with cultivating mindfulness and trading. The first two posts in the series can be found here:   Eight Weeks to More Mindful Trading The Second Week of More Mindful Trading   To bring new readers up to speed, here is a brief refresher on mindfulness. The topic is all the rage right now because people want to take back control of their attention span and to beat back the numerous distractions that afflict us in everyday life. Mindfulness is about learning to control your attention and your focus, so that you can Read more [...]

8 athletic brands passing me in Central Park

Apr 22nd, 2015 | By | Category: General Comments
New Yorkers take their running very seriously in Central Park. Too seriously if you ask this twice-a-week jogger and now very former athlete. Many many many were passing me on my amble home last night, which at first was deflating.... but then opportunistic. You see when you get passed by as many as I did you get an upfront look at all the latest athletic garb. And each time a runner passed me, bathed in different paraphernalia, sparked a unique reaction, which may also shed some investment light for some on the strength or weakness of athletic brands. Here were my reactions, some visceral, after 8 brands of athletic gear Read more [...]

4 ways to trade with a bias

Apr 20th, 2015 | By | Category: General Comments
Hi Mike, Just finished reading The Playbook (after One Good Trade earlier) and felt obligated to send a thank you note. I really appreciate you offering this information out in the form of a book unlike anyone else really does in trading! It helped me build even more on my base trading knowledge. More importantly, it made clear the discipline required to be successful in this field and the roadmap of discipline you provided has seeped into my trading routine more and more. I've always spent time preparing outside of market hours and reviewing my trades, but having The Playbook review template to go off of really made my reviews Read more [...]