An anecdote from a developing trader on the prop desk- sizing

One of our developing traders is consistently profitable.  Undeniably, he trades with edge. This is a great position to be in.  But for some traders it is not sufficient.  They are making money, but they are not making enough.  And when you are sitting next to and behind 7-figure traders it is not enough. So this trader sought to trade … Read More

A West Coast Story on Journaling

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 … Read More

How this trader improved

I was chatting in the hallway at our firm in NYC, with a developing trader who was verbally proud of his improvement on that day.  He was really proud. I asked him what progress he had made and how.  In detail, he offered his improvement.  When he was done, I asked him to memorialize the improvement in an email to … Read More

A trading journal that works for you

I trade intraday futures by reading the tape and looking at historically significant price action levels. I start to really get a feel for the process, but I still trade only one future until the process is internalized. To be able to assess myself I keep a detailed journal where I fill in trade information (entry, exit etc.) and trading … Read More

From the prop desk- A woman’s perspective

Hi Bella, I finished your book and it was so wonderful and inspiring. As a female trader (back in the game after a year and a half away, used to trade on a prop desk), I loved that you addressed the issue of women in trading, you sound like a great guy to work for. I would like to share … Read More

Making Decisions How to Enter on MOS

A guest post from an SMB trainee, TO: Bella has the entire floor working on their Playbooks on a daily basis, in order to take internalize our best plays. Here is one of my plays on MOS last week. 1. Big Picture: The SPY’s were in an intraday downtrend in the 116’s and next support was 115. 2. Intraday Fundamentals: … Read More

Don’t let C-B trades cloud your judgments in A trades (PCX)

This is a guest post from one of our traders, SW, about his trading day from Tuesday: A senior trader CB came to me after the close in regards of my recent performance. I expressed my frustration and disgust in missing  an “A trade”. At SMB, we are taught to grade our trading setups A, B, and C, for purposes … Read More

The Day Doesn’t End Until 4

One of my favorite phrases on our prop desk at SMB Capital is: the day doesn’t end until 4. If you start negative then you have the rest of the day to make it back and then some. In this market there is so much opportunity it is a waste of energy and irresponsible to get down after a few … Read More