Posts Tagged ‘ trader education ’

Characteristics of Champions (Traders)

Aug 25th, 2016 | By | Category: General Comments
In the video below, Michael Phelps' coach, Bob Bowman, presents the Characteristics of Champions. As traders we can learn from this talk to help achieve our goals. Coach Bowman breaks down success into three steps: 1) Visualize your goal 2) Develop a plan/routine to achieve your goal 3) Execute on your plan What is your goal as trader? Make it specific. For the developing trader, you might visualize becoming a Consistently Profitable Trader. Next develop a plan to achieve your goal. We say, develop a routine. What are the things you will do each day to drive your improvement? Last week we sequestered our newest traders Read more [...]


Is Reading the Tape still important?

Aug 18th, 2016 | By | Category: General Comments
  Hi Mr. Bellafiore, I can start by saying this is a huge honor being able to write to a legend as yourself in the world of stock market trading. I read your book One Good Trade and am on the way to reading The PlayBook which are hugely influential course materials on the subject matter of trading as I'm sure you are well aware. This leads me to my point/ question, is there any software or web-trading application that you know of that I could use in a demo format(free) where I can practice tape reading and order flow in the hope of implementing same into a workable and potentially profitable trading strategy. You Read more [...]


What we have learned from mentoring/coaching traders

Aug 10th, 2016 | By | Category: General Comments
  Our firm in NYC has focused on training new traders to consistently profitable and then high performing trader over the past decade.  Here is what we have learned mentoring and coaching traders: Develop a Growth Mindset- Shark is one of our most successful traders we have trained from new trader to consistently profitable trader and then high performing trader.  Each day he works on his trading game to get better. Go back and reread that last sentence.  Those with a fixed mindset believe they can only be as good as their talent allows.  Shark has experienced a trading career from a different lense.  Every trading 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 [...]


How this trader improved

Aug 4th, 2016 | By | Category: General Comments
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 me to further cement a new best practice that added value to his trading. Below is how this trader improved. Background - Reviewing my trading, I realized I’m more consistent and can demonstrate edge on 2nd day plays (When I’m involved).  Where I was failing miserably was NOT consistently being involved. I 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 [...]


How Short Term Traders Use Catalysts

Mar 17th, 2016 | By | Category: Steven Spencer (Steve's) Blogs, Trading Lesson
In this video I discuss how price action following a significant piece of news helps to determine a trading bias. Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, options, forex and futures. He has traded professionally for 19 years. His email address is: [email protected] No relevant positions Read more [...]