Trading Lesson

Impossible Market Timing?

Mar 12th, 2017 | By | Category: Steven Spencer (Steve's) Blogs, Trading Lesson
Wouldn't it be great if we had a tool that gave us a heads up when market was making a short term top? What if that same tool could be used to time the bottom in market pull backs as well? If we had something like this surely we would make many millions of dollars if not billions in the market each year? Market participants spend a lot of time analyzing various data points to help time market turning points. Sentiment, money flows, momentum are a few that come to mind. Every morning we hold an "AM Meeting" where I give an overview of the broader market indices before we discuss the In Play names of the day. In large part my analysis Read more [...]


Get Your Exclusive Inside Look of “The Winning Trader” Program

Jan 30th, 2017 | By | Category: Trading Lesson
The Winning Trader is a very intensive 10-week training experience. This Wednesday we are inviting the entire SMB community to attend the orientation webinar. During this webinar, you will learn about the tools, mentoring meetings, and training modules that are included in The Winning Trader. This is the last open meeting before we buckle down and get to work with everyone that has signed up for the live 10-week training. Save the link below and mark your calendar to join us Wednesday February 1st at 4:15 PM Eastern (NYC) https://smbclassroom.clickwebinar.com/smb-equities-webinars If you haven't signed up for TWT... right now Read more [...]


Three Opening Trades–Review BABA MMM VZ

Jan 25th, 2017 | By | Category: Steven Spencer (Steve's) Blogs, Trading Ideas, Trading Lesson
Yesterday, I made the below three trades on the Open based on our morning game plan and strategies we teach on the prop desk. It is important to spend time reviewing your trades each day to determine if you followed your trading plan and identify possible improvements on execution. BABA (win)---good #s. With large recent runup no great setup but expect some initial profit taking before any bounce. Look for failure at 104. Didn’t get short off on 104 failure as wasn’t on desk. Got long flush near 101 w/ stop below 100.50. Not huge confidence in this trade because Chinese name so anything possible but $3 from resistance Read more [...]


A Trader’s Definition of Hell

Jan 11th, 2017 | By | Category: Futures, General Comments, SMB Fundamentals, Trader Development, Trading Lesson, Trading Psychology
What would a trader's definition of hell be? I say it's the following: On your last day on earth, the trader you became will meet the trader you could have become. Scary to think about isn't it? I have two ways of avoiding "trader hell" that I'll share with you. Focus on process. I can guarantee you that if you spend your days toiling in the need to be right, make money, "win", or get revenge - you will end up in trader hell. What separates many elite performers, in nearly all elite-performance fields, is a strong commitment to process. It's not about the scoreboard, it's not about what happened on your last trade, it's Read more [...]


Ten Trades That Have Actually Worked

Jan 8th, 2017 | By | Category: Trading Lesson
You know there is a way to generate profits by trading. You know there is some setup, some strategy, some system that you can trade to get on the right side of the market and generate these profits. Unfortunately, most traders never experience that reality. We know this because we've surveyed thousands of traders. But... rest assured... some do make it. And they don't make it by luck. How do we know it's not luck? Because the traders that do make it continue to make it... year ... after year... after year. Wouldn't it be nice if you could see the setup, the strategy, the system that these traders are using to generate big Read more [...]


Understanding Market Turning Points

Oct 14th, 2016 | By | Category: Steven Spencer (Steve's) Blogs, Trading Lesson
Short term traders make thousands of trades each year. But not every trade is of equal importance to our bottom line. We develop a trading plan for every trade regardless of how large or small the opportunity, but with experience we begin to identify the trades that offer the greatest upside and the best risk/reward. I have found in my 20+ years of trading that identifying potential turning points in the market can make a dramatic difference in your trading results each year. On these days the risk/reward is magnified for making broader market trades, and many individual names will establish important short term tops/bottoms Read more [...]


Five things profitable traders do that losing traders don’t

Oct 11th, 2016 | By | Category: Trading Lesson
Ever wonder what is going on the minds of professional consistently profitable traders? An extremely important part of our firm's success is modeling what top traders have in common. These common characteristics and practices are things that you can learn from and apply to your trading. This Thursday at 4:15 pm (NYC), Mike Bellafiore will be teaching a free online class: "Five things profitable traders do that losing traders don't" In this free online class, you will learn: The growth mindset essential for reaching your trading potential The importance of stock selection for winning traders Examples of successful Read more [...]


When A Stock Is Crushed

Oct 8th, 2016 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trading Lesson
When a negative catalyst causes a stock to gap lower 20% or more it attracts a lot of attention. Should we look for a bounce? Should we stay short and look for more downside? Here are some things to consider 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] Read more [...]