Posts Tagged ‘ prop desk ’

From the prop desk- A woman’s perspective

Jan 31st, 2012 | By | Category: General Comments
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 my experience as a female trader with you, since you expressed interest in the book. When I worked on a prop desk, I worked for the loveliest, most talented trader I've ever met.... and with his unruly employees. When I first started, traders would refer to the stock as a bitch, a whore, a slut, the list goes on. They would say they got Read more [...]

Making Decisions How to Enter on MOS

Oct 3rd, 2011 | By | Category: General Comments
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: MOS was in-play off earnings. Q1 EPS was 1.17 vs. estimates of 1.29. There was a slight gap down. 3. Technical analysis: MOS was in a downtrend and consolidating at the lows near 55. The next support level was 54.50 (the 6-month low) and after that, it would be 53. A new 6-month low could have considerable Read more [...]

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

Sep 22nd, 2011 | By | Category: General Comments
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 of proper risk management -- betting the most on your best trades. After going over my recent trades, CB explained to me that being stopped out frequently in C-B trades has been clouding my judgments in A trades. I started to trade fearfully in A trades, and took profits pre-maturely when a trade was working for me. And Read more [...]

The Day Doesn’t End Until 4

Jul 23rd, 2008 | By | Category: General Comments
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 losing trades on the Open. There is too much money to be made. Just think about yesterday. You could have been firmly negative and then caught the explosion in the financials and the XLF (chart attached below). These days offer you the opportunity to mess up the Open and then still have a great day. This AM I was promptly down $1500 Read more [...]