Posts Tagged ‘ prop trading ’

Why I didn’t trade today

Sep 23rd, 2016 | By | Category: General Comments
I didn't trade this morning.  I had ever intention to do so when I left the office last night.  I like the opportunity in FB TWTR SRPT SPY IWM for today's trading session.  So this was not a decision of a lack of trading opportunity.  I, personally, was not in an optimal state to trade.  And therefor, I benched myself. First, for those of you who have children, you might empathize with this next anecdote.  Three times last night, while in a dead sleep, my son approached my bed, leaned directly into my right ear and said, "DAD.........".  There were different iterations of what followed after DAD!, but each awoke me Read more [...]

What this new trader learned on Day 1 (166 lessons)

Sep 20th, 2016 | By | Category: General Comments
Our new class started part I of their training this week, with the SMB Foundation. Some say, "The only way to learn how to trade is trade." Here is some evidence contrary to that position. One trainee with past trading experience sent me his notes, without solicitation, as to what he learned on Day 1 of our training program.  He participated in live classroom instruction, demo trading, interaction with traders on the desk, the archived Foundation training course, and access to our trading tools.  Here is what he learned: Get better every day Respect the markets Ask questions Only Read more [...]

A Macro Trade That Is Working

Aug 18th, 2016 | By | Category: Steven Spencer (Steve's) Blogs
Rarely if ever do I develop a trading thesis that involves macro analysis and a time horizon greater than a few months. But through conversations with pro traders with experience in the energy sector and reading a few excellent analyses on the oil sector I came to view oil as a great risk/reward long trade from the high $30s up to $60/bl. This video updates my current thoughts. I will continue to tweet updates and create new videos as the trade progresses through the rest of 2016. Enjoy!   Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, 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 [...]

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 [...]

A trading journal that works for you

Aug 3rd, 2016 | By | Category: General Comments
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 information (what did I do well and why; what could I do better and how). My problem is the journaling itself: When I journal "live" I lose focus on the price action and feel that I miss important information; when I journal after market hours it is really easy to forget the actual feelings as Read more [...]

SMB College Tour

Jun 1st, 2015 | By | Category: Mike Bellafiore's (Bella's) Blogs
As I write I'm heading back on Amtrak to NYC, completing our fall recruiting trips. I've been pretty sick the past week and I'm sure that those around me are hoping I get off at the next stop. Sorry, I am not. It's another two hours with me. Just took another swig of NyQuil, so that should help. On my last trip down to DC via train the doors were held for a few minutes before we exited. Before that I noticed that many had their bags searched before they boarded. And I found it unusual that dogs kept walking down the aisles during our trip. And now we couldn't exit? And then out the window I saw a very familiar, distinguished, and Read more [...]

SMB Capital and Kershner Trading Group Announce Joint Venture

Apr 24th, 2013 | By | Category: General Comments
April 24, 2013, NEW YORK, NY—SMB Capital, a leading proprietary trading desk based in Manhattan, and Kershner Trading Group (Austin, Texas and now New York City), have teamed up to create a joint venture for a new trading office in Midtown Manhattan. The JV offers traders a true trading partner, where the firm provides technology with an edge, large trading accounts, and low execution costs to those with a solid track record, and assumes all trading risk. Traders will have a technology edge in the proprietary trading space whereby traders can become more bionic and build automated strategies. The firm owns and develops a suite Read more [...]