All entries by this author

Characteristics of Champions (Traders)

Aug 25th, 2016 | By | Category: General Comments
In the video below, Michael Phelps' coach, Bob Bowman, presents the Characteristics of Champions. As traders we can learn from this talk to help achieve our goals. Coach Bowman breaks down success into three steps: 1) Visualize your goal 2) Develop a plan/routine to achieve your goal 3) Execute on your plan What is your goal as trader? Make it specific. For the developing trader, you might visualize becoming a Consistently Profitable Trader. Next develop a plan to achieve your goal. We say, develop a routine. What are the things you will do each day to drive your improvement? Last week we sequestered our newest traders Read more [...]


When I heard the learn’d trader

Aug 24th, 2016 | By | Category: General Comments
    When I heard the learn’d trader, When the proofs, the figures, were ranged in columns before me, When I was shown the charts and diagrams, to buy, sell, and short them, When I sitting heard the trader where he lectured with much applause in the lecture-room, How soon unaccountable I became tired and sick, Till rising and gliding out I wander’d off by myself, Sat down at my trading station, and from time to time, Look’d up in perfect silence at the markets. *adapted from When I Heard the Learn'd Astronomer, Walt Whitman **no relevant positions Read more [...]


Is Reading the Tape still important?

Aug 18th, 2016 | By | Category: General Comments
  Hi Mr. Bellafiore, I can start by saying this is a huge honor being able to write to a legend as yourself in the world of stock market trading. I read your book One Good Trade and am on the way to reading The PlayBook which are hugely influential course materials on the subject matter of trading as I'm sure you are well aware. This leads me to my point/ question, is there any software or web-trading application that you know of that I could use in a demo format(free) where I can practice tape reading and order flow in the hope of implementing same into a workable and potentially profitable trading strategy. You Read more [...]


Managing your swing positions/trades better

Aug 16th, 2016 | By | Category: General Comments
  Hi Mike, I met you last 2 weeks at Singapore Invest Fair.  I am deeply impressed with your presentation and your New York traders trading ways. Personally, I am a prop house day scalp traders for Malaysia stock market for 8 years.my performance for the scalp trading is quite consistent and keep on growing. I have a matter need your advice. While my scalp trade is consistent when i go into  for my swing trade on stock market on midterm (few weeks) or longer term (few months) basics for my own capacity.i keep on have the scalp trade mentality even though I have a trading plan for it. When i am having position Read more [...]


What we have learned from mentoring/coaching traders

Aug 10th, 2016 | By | Category: General Comments
  Our firm in NYC has focused on training new traders to consistently profitable and then high performing trader over the past decade.  Here is what we have learned mentoring and coaching traders: Develop a Growth Mindset- Shark is one of our most successful traders we have trained from new trader to consistently profitable trader and then high performing trader.  Each day he works on his trading game to get better. Go back and reread that last sentence.  Those with a fixed mindset believe they can only be as good as their talent allows.  Shark has experienced a trading career from a different lense.  Every trading Read more [...]


A West Coast Story on Journaling

Aug 8th, 2016 | By | Category: General Comments
Hi Mike--I listened to your video regarding the trader that was having issues journaling. I solved that same issue by typing onto the chart itself – – the reasons why I bought and sold at the exact point of entry and exit. As you know, Tradestation can pinpoint the exact point of entry and exit if you turn on that function.It's so much easier to learn from the visual texting notes on the chart, as opposed to going from the journal back to the chart and back to the journal again. And-- you don't lose "the flow" because your eyes are always on the chart! Let me know if that helps him. Best to you... Amy 🙂 @MikeBellafiore I Read more [...]


The way you express yourself successfully in markets

Aug 7th, 2016 | By | Category: General Comments
I want to share with you an awesome video from Sherri Coale, Head Coach Women's Basketball, that will make you a better trader.  But exactly how needs some context, so first a few comments. It is really hard to start as a discretionary trader these days. HFTs cut and stop you out of positions. The media has been warning of a market crash for the past 7 years in a market that has done nothing but trade higher. There is the constant nonsensical faux fights between long term trading and short term trading, confusing the new trader about how to attack the markets. There is so much information thrown at new traders Read more [...]


Taking that next step forward in your trading with sizing

Aug 6th, 2016 | By | Category: General Comments
I sit in a unique seat in the trading community.  For the past decade, I have trained traders from new to consistently profitable or failed trader.  As the author of two trading books, gratefully many reach out to me sharing their trading challenges and triumphs with the why and how.  What I do in my writing is share my observations from working with and exchanges with these new and developing and high performing traders to our trading community. Another one of our firm traders had a break through last month! He walked across that line from doubting developing trader to professional trader.  He is going to make it. Read more [...]