All entries by this author

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 [...]

The Rule When Trading on Tilt

Jul 30th, 2014 | By | Category: General Comments
A peak into our trading desk in NYC........ There are three guys I really like on our desk that have a chance.  They work. They care. One has surpassed the monthly PnL number that signifies a real chance to make it by 4x.  Another was first in his class to hit that number (can't share number....compliance).  The last has hit that number 2xs in one day.  So these guys have ability. But......they all struggle with trading on tilt.  A bad day can become worse. So our Floor Manager and I met with all three in our conference room today. "Does anyone in this room not believe they suffer from trading on tilt?" Read more [...]

Can You Keep it Down Please? I am Trading

Jul 25th, 2014 | By | Category: Ask Bella, General Comments
  Hi Mr. Bellafiore, Terrific book, thank you for writing it. I have the audio version. I ordered it two minutes after I read a comment from one person saying that he had listened to it six times. Due to my tape / chart reading ability combined with having read Reminiscences of a Stock Operator six times (and other books less so) I was very recently able to achieve a (solid) returns in 60 days through day and swing trading. It was done without leverage or options, and primarily in swing trading stocks under $3.00 which had fallen 80-90%. I bought the positions at their support levels shortly before their going into Read more [...]

Bella Interview on Blog Talk Radio

Jul 25th, 2014 | By | Category: General Comments
Listen to this trading interview with Bella on Blog Talk Radio hosted by Aleksander Danilov of by clicking this link here. Bella discusses: 1) Why he wrote The PlayBook 2) Process: How The PlayBook and the SMBU Performance Center powered by Tradervue helps traders develop a process where they can build from their strengths. 3) Following like-mind traders on StockTwits (@annemarietrades, @alphatrends, @steenbab, @harmongreg for example). 4) The JV with the Kershner Trading Group and the business model: Back experienced traders and take all down-side risk Provide significant downside Offer Read more [...]

This Options Trader is Succeeding

Jul 23rd, 2014 | By | Category: General Comments
I try to offer examples of best practices from succeeding traders and share them with the trading community. It is my hopesuccess.1 developing traders will co-opt some of these best practices and improve their trading. I have another one to share- this one from our options trading desk. One of the options traders on our desk just had his best month and I wrote him a congratulatory e-mail. This trader was taught from scratch by Seth Freudberg, Director of SMB Options, earned his respect from his hard work while training with Seth, and then was invited to trade on our Options Desk. Options traders are fully-backed by the firm- Read more [...]

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