Posts Tagged ‘ smbU ’

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Mobile Trading: It’s Easy! (Start Running Now)

Nov 7th, 2012 | By | Category: General Comments
A forex broker actually sent me this message, I added the part in parenthesis.  Now, after reading this statement, what comes to mind? Are you imagining pressing some buttons on your smart phone from the 18th hole (I’m writing like I know something about golf) and smiling because you just made a thousand? Sounds nice right?  Many forex brokers today provide apps for your mobile devices that allow you to execute trades, receive news, signals and quotes, and look at some simple charts.  What more do you need to make sound trading decisions anyway? You’re not day trading right? You need more. A lot more, no matter what type of trader you are. First let’s get right into scalping.  Don’t Read more [...]

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The High Motor Trader

Nov 4th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
In basketball they look for a player with a high motor. This means a player that can defend with energy, get through screens, win loose balls, beat his man up the court, help on defense, beat his man off the dribble, etc. The player exhibits a lot of energy in many different facets of the game to help his team win. Oh man, whatever you think of Coach Cal you ought to check out ESPN All-Access of UK men's basketball if you are interested in elite performance. In the video above the value of the high motor is explained. We have this in trading as well and it is a skill you should work to develop more. What does it mean to be a trader with a high motor? Ever sit there in a few traders feeling Read more [...]

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We are forgetting one important change in our economy

Oct 18th, 2012 | By | Category: General Comments, Mike Bellafiore's (Bella's) Blogs
1. As @jheil said on Morning Joe yesterday, "The Yankees suck." 2. Are we undervaluing an important positive change to our economy?  That being: it has never been better to start a small business. If you talk to some of the biggest HFs in the US they are all preparing uniquely for the US fiscal cliff.  Worse yet the perfect storm of slowness in China, someone leaving the Eurozone and the US fiscal cliff contemporaneously.  When I was in Singapore the dip in GDP growth from the expected 8 percent to 7,7 percent brought worldwide anxiety and markets lower.  It is easy to see a Greek politician selling the exit from Eurozone debt.  And who is to say that after the election Congress and Read more [...]

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Bon voyage to Paris to become a better trader

Oct 15th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Bojour.   I am flying through some nasty turbulence from southern France to Paris to catch my connecting flight back to NYC.  I land, drop off our bags and my wife, grab a few hours of sleep and then head back to the airport for a flight to Toronto.  I am the chairman and a presenter at Quant Invest Canada 2012 on 10/16.  I have spent the past week in Paris and the south of France experiencing and learning.  I leave a better trader without making one trade.   How is that possible? My wife and I were invited to a chateau wedding in the south of France this weekend.  This was the second marriage for the bride and groom.  Not in that they were previously married to different people.  Read more [...]

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Our markets are broken but still the world’s best

Oct 11th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Bonjour. As I write I am flying from Paris, the most beautiful city I have ever seen, to the French countryside for a chateau wedding.  Since there is no gogo internet access on the flight and I am sans iPad I thought I would share a story about a future trader I lunched with in Paris.  Perhaps some will see this as a positive anecdote for our markets and NYC. Yesterday I asked the concierge for a “casual business restaurant” for a talk with a French broker interested in transitioning to US Equities trader.  My definition of “casual” was different from the concierge’s as his suggestion was a 5 star steak house.  The French take their lunch seriously. Three courses and wine Read more [...]

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How do I re-enter after a winning trade?

Oct 9th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Hey Mike, How are you doing? How is the progress of your new book ('One good playbook?')? Haha. I am looking forward to read it already. I am currently 'live' for about a month now, and my results are inconsistent thus far. I have some questions for you. I realised i have a problem when doing a trend play, and i managed to grab about 6-8 ticks profits but the problem is once i am out of the trade, i am mentally not prepared to go in again because 1) I am not sure if a reveral is coming 2) Afraid to put on yet another trend trade since i already made money from the initial trend earlier. My mind gets mentally challenged to go back into the trend for fear of a reversal. How do you get Read more [...]

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The Stock Market Does Not Exist To Serve The Long Term Investor

Oct 6th, 2012 | By | Category: General Comments, Steven Spencer (Steve's) Blogs, Trading Theory
I appreciate being invited on to Bloomberg TV Monday to share my thoughts on market regulation and HFT trading. This issue has received a lot of press recently in part thanks to Mark Cuban who has used his notoriety to bring attention to an important issue. I applaud him for using his platform for bringing this issue into focus, first with this blog and then on CNBC, as the healthy functioning of US capital markets play an important role in our economy. I would like to clarify a few things that I did not have a chance to cover during my interview. I have read and heard several times that the stock market exists to serve the "long term investor". That is a mistake. The purpose of the stock Read more [...]

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A Note to Traders on the Absence of Liquidity

Aug 2nd, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
SMB Traders, The last two trading days have been the worst liquidity I have ever seen. Obviously the huffiness on the desk is high. IMO is should be. I have not been this mad on a desk in three years myself trading this ridiculous market. The market is broken. And some of these moves are absurd. Having said that GMan was still able to post almost (deleted because of BD rules) in P&L. And as long as we can hit the bids and pay the offer then we can make money. As traders there is no right to an orderly market. Trading is a privilege! The truth is the more movement intraday in stocks the more opportunity for us. Let's agree on one thing first: 1) Let's end the complaining Read more [...]

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The opportunity for a prop trader

Jul 28th, 2012 | By | Category: General Comments, Mike Bellafiore's (Bella's) Blogs
@DynamicHedge wrote a must-read piece recently that went viral, "Letters to a Young Trader", in which along with buckets of awesome advice he also asserted prop trading shops are dying.  This is true.  But this is not the same as prop trading is dead and/or ALL prop shops are dying.  That would not be correct.  The author never stated this but some might have missed this important distinction.  This is an opportunistic time for the right people to be prop trading!  Let me explain why and offer a status update on prop trading. First here is what @DynamicHedge wrote about prop trading: (Question from @dynamichedge reader)It doesn’t seem like many proprietary trading firms are hiring Read more [...]

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Overcoming Your Psychological Issues as a Trader (a case study)

Jul 21st, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Here is a case study on one SMB Trader struggling with his psychology. I'm sure many readers have experienced the same struggles. We end with a plan to solve this psychological issue for this trader. SMB TRADER:   I'm really disappointed. This was bad. Probably the most disappointed I have been in myself in a long time. There's no reason, no excuse, that I'm not up 2K today. Honestly, I traded the open so well. I was up like 500 bucks by 10 AM. Then I gave it all back. Then I made it all back and finished up 630.  Between 11AM-1 PM I did nothing but lose money. In that time, I could have bought back IBM on that trend line around 194.50/195 twice. I am just so mad at myself for Read more [...]

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