Archive for March 2016

It’s a shame I got stopped out

Mar 30th, 2016 | By | Category: General Comments
Here is an exchange on our trading desk in NYC today.Trader: She got stopped out of her position today.  It’s a shame because the market has pulled back in a bit.Me: You have to trade with stops.If you were stopped out and then thereafter a stock/product/market traded in your direction too often trader laments their bad luck.  Most often this is not bad luck.  When you have a healthy stop, It does not help you improve wondering if your stop was too tight.  Or the market gods are against you.  Or your trading psychology is not strong enough.Better to consider whether you were too big too early.  Better Read more [...]

Finding Edge in $VXX

Mar 30th, 2016 | By | Category: Free Daily Trading Video
In our SMBU Daily Video Andrew Falde takes an in-depth look at the $VXX and searches for ways to get short through systems and signals. Learn more about Systems Trading with Andrew Falde here. Enjoy the video.   * no relevant positions Read more [...]

Why this trader succeeded while most fail

Mar 29th, 2016 | By | Category: General Comments
Recently, I exchanged emails with a successful prop trader at a Tier 1 firm.  I have known him since he was deciding whether to pursue trading, while still in college.  We have kept in touch during his trading career.  He has become a *very* successful trader.  I asked him to share his thoughts on why he became successful.  Here is his analysis.  It is nothing short of inspiring........Why did I succeed when most failed? (I think 4/25 of my class are still here)1. I was the hardest worker and still work quite hard 5 years in. Everyone wants to make a million dollars and be the best, but so few truly Read more [...]

Trading A Momentum Reversal–TSLA

Mar 25th, 2016 | By | Category: Steven Spencer (Steve's) Blogs, Trading Lesson
This past week many traders sought to profit from a short trade in TSLA. Eventually it reversed dropping almost 10% in two days. But it wasn't an easy or simple trade by any stretch. My thoughts on one way to make this trade easier... Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 20 years. His email address is: [email protected] No relevant positions Read more [...]

This Trader Wanted to Quit

Mar 24th, 2016 | By | Category: General Comments
Mike Bellafiore, noted author and founding partner of SMB Capital tells a story of an ambitious young trader that he met while giving a presentation at a university. This trader entered the professional trading world a few years later at just the wrong time. He was ready to throw in the towel — but he stuck it out for a few more months until the market became more favorable for a short term trader. Now he's an award winning prop desk trader. Join us to learn how to identify the source of your trading challenges and, more importantly, how to overcome them. ** no relevant positions Read more [...]

Preserving Profits When You Can’t Be At Your Screen

Mar 24th, 2016 | By | Category: Free Daily Trading Video
It can be troublesome when a trade is profitable and close to its target profit, yet a big move, unattended, could severely draw down that profit. Occasionally, an options income trader simply can not be at his or her screen. Seth Freudberg discusses a solution to that. Enjoy the video. * no relevant positions Read more [...]

SMBU’s Options Tribe Webinar: Options Tribe Member Dave Freitag: The Ten-Delta Move Trade

Mar 23rd, 2016 | By | Category: Options Education, Seth Freudberg's Blogs
This week, Options Tribe member Dave Freitag presents his Ten-Delta Move Trade for the first time on our weekly webinar. Read more [...]

My trading is “garbage”

Mar 21st, 2016 | By | Category: General Comments
Hey Mike Couple of things....I'm reading my way through The PlayBook and felt I should send this GIF along.... Don't know if I should laugh or cry at the garbage I trade.  Again, my background over the years was to make $ trading the crap.  its where I had an edge..... Obviously I no longer want to trade this way, hence reaching out to you....the only good trade was LXU.  In-play.  and never had enough size nor conviction.  Oh well, there's always Monday. I grinded all day Friday for (a nice profit). @mikebellafiore I received this note from a veteran trader in Toronto.  I wanted to share it with the trading Read more [...]