Last Thursday, Mike Bellafiore shared information about how traders at SMB use team trading to help them perform better—and how you can apply these principles from home..
When I receive emails from new and developing traders they often dwell on what is not working with their trading. They recite with precision exactly what they are doing poorly and with thoughtful reasons for this. Inevitably, they ask for help with these issues. My first response generally is to ask them what they do well. And we then build … Read More
I was on a phone call with a former *star* futures trader who blurted, “this is the worst market I have seen in my life.” He was referring to the lack of movement in e-mini futures. During a private coaching session with one of our better senior traders, that trader stressed, “patience is the key in this market.” One veteran … Read More
When are you trading too big? Recently, while heading outside for a trading break, a developing trader stopped me near the elevator. He gave me a progress report on a new strategy that he was running. I love it. It is unique. He has backtested the strategy and it has edge. No one else on the desk is trading it. … Read More
Technical Analysis is what you already know. Price action analysis is what you should know. Technical analysis is the study of charts. Looking at patterns with the hope that it will appear again and offer an opportunity to make money. That’s not how you make money trading. Profitable trading is about skill development. Price action analysis is truly understanding the underlying factors … Read More
SMB receives approximately 5,000 applications each year to trade for the firm. As you can imagine, it’s nearly a full time job to sort through 400+ new applications each month. Of the thousands that apply each year, the net acquisition of new traders that go live with the firm is less than 50. That’s right… Less than 1% of applicants … Read More
A core Trading Frustration in the SMBU Community is a lack of consistency with their trading. In this video below Steve Spencer and I offer some solutions to improve your trading consistency. The search for consistency is a differentiator between pro and developing trader. Learning to develop a detailed trading plan for all of your trades will help. In this … Read More
Paul Forchione of Optionvue Systems, International returns to the Options Tribe to discuss ways to unearth opportunities for out of the money butterflies and ‘calendarized butterflies’ for directional options plays. Enjoy the video! Risk Disclaimer no relevant positions Please follow and like us: