Part II of our training program on our prop desk in NYC is Trader Development. There is a lot of necessary and wonderful failing that goes on during Trader Development. During this process traders experiment with different setups that we highlight. There are trading strategies worth exploration that active traders use to win. We continually point them out daily during … Read More
I like this trading pattern in Mattel ($MAT)
I like this trading pattern in $MAT: a) stock gapping down b) stock with a negative news catalyst c) fight on the tape where the seller wins d) holding below VWAP e) no longer term technical support in sight f) staircase stepping down visually on our charts g) hold short for a real move We have this pattern today in … Read More
Transitioning from a Floundering Retail Trader to a Profitable Pro Trader
SMB’s main business is a prop trading desk in NYC. We partner with The Kershner Trading Group, who offers the best technology suite in our space and massive buying power, to run this business. Historically, even before Wall Street Warriors and One Good Trade and The PlayBook, SMB’s competitive advantage has been training traders from new to consistently profitably and … Read More
Competition at a prop firm fuels increased PnL
People often ask ne the value of trading at a prop firm. And there are many value adds that a prop firm brings to a trader, but I want to focus on one powerful performance driver. Competition! When SMB first formed a JV with the Kershner Trading Group our younger traders were in awe at the PnL numbers of the … Read More
A Trader’s Definition of Hell
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 … Read More
Your first 3 takeaways for 2017
It’s only the first trading day of 2017, and we’re already learning lessons and working on our game. Here’s 3 takeaways you can use to start getting better right away.
#1 issue top traders want to fix in 2017 on our prop desk
It’s the end of the year, and time for trading business plans for 2017 from the traders on our desk. When viewing the trading plans of our best traders the issue that repeats the most to fix in 2017 is…….. Waiting for the setup! These are highly profitable traders, and even some seven-figure traders. These are experienced traders who have … Read More
Solutions to get better at taking trading losses
This is part 4 of our trader survey that breaks down the results from our trading community. You will be amazed at what you learn about the challenges and successes that traders in our community are having.