All entries by this author

Top Ten Trading Books

Aug 29th, 2014 | By | Category: General Comments
I had a wonderful conversation with a retail trader who has read 194 trading books.  Wow! This gentlemen has a passion for trading and reading about trading.  I was actually speaking to him about our firm backing his trading.  He has developed a track record while working full-time in the Heartland. For those of you trading retail who dream of one day trading pro, here is one guy taking the steps to achieve that goal.  It can be done! I thought it would be interesting to the trading community to learn his Top Ten Trading Books since he has read so many.  (In any list like this, there will be many great contributions Read more [...]

Should You Quit Your Job to Trade?

Aug 27th, 2014 | By | Category: General Comments
Dear Mr. Bellafiore, Hello my name is Jeffrey, first off I'd like to thank you for the information in your book "one good trade" it's been very helpful. I've been day trading for 2 1/2 years now. I can't trade stocks because of my work schedule but do take advantage of the Future and Currency markets. I've come to realize that my preparation is lacking big time. I understand how to read a chart along with ranges like support and resistance but don't know come up with the major levels or how to really trade off of them. I guess what i'm asking is what should be my main focus in preparation in these markets 1. and 2. should I Read more [...]

Today I Will Trade Big!

Aug 26th, 2014 | By | Category: General Comments
An experienced trader stepped into my office frustrated with me.  He wanted to know why I questioned his position size in  a $TWTR breakout trade.  The exchange we had offers a lesson on getting bigger as a trader for the trading community. First, let me say that I loved this trade position in $TWTR.  And I loved that he was being aggressive.  I wanted to know two things: if the trade didn't work out could he control his risk was his position too big for him So many traders wake up one day and exclaim: Today I will trade big! Traders just decide that now they will not be a wuss, trade big size, and hold for the Read more [...]

Trade with a True Catalyst

Aug 25th, 2014 | By | Category: General Comments
Often new and retail traders do not trade stocks with a true catalyst.  By a true catalyst, I mean an event that will cause significant new buying or selling.  Said another way, price moving buying or selling. The new trader and retail trader wonder: Why the heck is my stock not moving like I thought?  The answer may be because they do not have a true catalyst behind their trade.  And this may also explain why you so often get stopped out of positions.  The Flash Boys prey on trades in stocks without a true catalyst. And then there are the b.s technical trades that too many new and retail traders make. The 8ma crosses Read more [...]

How Do I Start Trading?

Aug 16th, 2014 | By | Category: General Comments
Hello Mr. Bellafiore, I just read an article/post from you, and I think you are one of the few out there who know what they are doing and not after the quick buck. I've wanted to be a trader for close to 15 years. I'm 41 now, and I still have this desire. I never quite could get my head around where to begin and what to do. Do you have any suggestions? I hope that you aren't tired of these emails, I bet you get them a lot. BTW: I live in Belgium @MikeBellafiore In the upper right hand corner of our blog, you can signup for our Free 10 Day Training Class.  You might start there. You will gain exposure to key Read more [...]

How Long Does a Trading Slump Last?

Aug 9th, 2014 | By | Category: General Comments
Hi Mike,  Would like to know how long does a trading slump normally last? And how does one know trading is not their cup of tea or doesn't suit one person? Thanks in advance. @mikebellafiore Trading slumps depend on your trading style and skill level. Scalpers, a trader who trades off of order flow or Reading the Tape, like Pippen from The PlayBook will be profitable almost every day and every week.  A slump for him would be two negative days in a row and I cannot remember the last time he was. Intraday traders who combine news, charts, the tape, skill of trading patterns and intuition like Shark are positive Read more [...]

Slow Down! The Challenge of Newness to Trading

Aug 8th, 2014 | By | Category: General Comments
Traders want to become Steve Cohen TODAY!  This can lead to starting too fast for all levels of traders at all different stages of their careers. My advise based on experience working with pro traders in NYC?  Slow down! At our firm we hire experienced discretionary and quant traders with a track record.  We fully back the traders taking all of the downside risk.  Before a trader starts we give him/her loss limits for the day and a "number". The "number" is when we will fire them.  Everyone understands upfront what we are willing to risk on their trading.  We hired an experienced trader a few months ago with an Read more [...]

Trading Made Easier- $SSYS $THOR

Aug 7th, 2014 | By | Category: General Comments
Trader Development has started for our newest class of traders. After they complete the SMB Foundation, they trade live and take Trader Development. We are making a special effort with this class to keep things simple. If you were teaching someone to play basketball would you teach them first how to make turnaround 3 point shots? No you would have them work on layups and 15 foot jump shots. The same should be true with trading for the new and developing trader. In Trader Development we start with The Fundamentals Trend Trade. We search for stocks who have announced significantly different fundamentals and look for setups to Read more [...]

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