Posts Tagged ‘ trader training ’

Damn right we talkin about practice!

Dec 31st, 2015 | By | Category: General Comments
I had an informative phone chat with a counterpart of mine at a large international prop firm.  They house thousands of traders globally.  They, like us, back all of their traders.  They, like us, have their own proprietary trading technology that only firm traders can use.  They, like us, trade many different products. He, like me, trains all of the new traders the firm hires.  He said something during our call that deserves a spotlight.This global proprietary trading firm does not allow their traders to trade live until they show consistency on a trading simulator.You might call this proof of concept.You Read more [...]


Do We Really Need Rules?

Jun 3rd, 2015 | By | Category: General Comments
At SMBU we believe those with a passion for trading ought to start trading in college. We created the SMB College Training Program run by Iceman from The PlayBook for this very reason. Jake is a passionate college trader trying to create a track record while in school to land a spot on a prop trading desk. He will write a weekly blog about his trader learning experience. You can e-mail him at [email protected] ---- This post was written on August 23, 2013. If you have developed a clear set of rules (entry signal, exit signal, risk management, money management, etc.) that you feel comfortable with, then you should not hesitate Read more [...]


This Trader is Ready to Trade Live

May 28th, 2015 | By | Category: General Comments
Bella,  I am a huge fan of One Good Trade. Currently, I am wrapping up The Playbook. My friend and mentor put me onto One Good Trade after I had expressed interest several months ago in trading, and I have fallen in love with the profession. My desire is to become an intraday trader, but I want to go about it the correct way. I have been trying to take each lesson from each of your students and other mentees to heart and apply them to myself. I'm a former college football player, and I am now in my second year as a college coach. I must admit I that I probably broke some copyright laws because our linebacker motto is "One Good Read more [...]


Top financial websites to prepare for your trading day

May 26th, 2015 | By | Category: General Comments
What financial websites do you use to prepare for trading? @MikeBellafiore I asked our newest training classes in Austin and NYC to share what websites they use and why to prepare for each trading session.  Then I aggregated their answers, unedited, into this post.  This gives you an excellent guide of websites to help you prepare for each trading session.  Perhaps from this list you can make your own list and create a routine of visiting them before each trading session to make better trade/investment decisions. 1. Finviz This is where I head to first for most any stock I want news on. It provides links to the stories Read more [...]


Ask anything: how can I become more consistent as a trader?

May 17th, 2015 | By | Category: General Comments
I have been actively trading for 5 years. I have followed the market for 25 years.. I have tried trading covered calls, medium and high beta stocks (ex -- AApl, SBUX ,CELG, TSLA. I have tried intraday trading options -no luck. It seems like every I "perceive" an opportunity I jump -- just that I seem to be extremely inconsistent. I have a hard time cutting losses when I'm wrong (and since I usually do this with options -- the losses mount rapidyl). Any suggestions? @MikeBellafiore     Consistency, how to be more consistent, is a common challenge in the trading community.  Let me offer some thoughts on how you can become Read more [...]


This 5k loss was my best trade of the month (video)

May 14th, 2015 | By | Category: General Comments
Hey Mike,Just curious if you have an example of a losing trade you had recently, and if you still considered it a good trade?Thanks.Jonathan A.mikebellafioreThis is a great question!  When I watch the Financial Media Entertainment Complex talking trading/investing I smh.  Who are those people on TV so certain their call in $AAPL is correct?  What market is that guy trading with the beautiful tan, teeth and hair that he KNOWS the market ($SPY, $IWM, $QQQ) is about to correct?  The truth is even the best traders/investors can thrive with win rates barely north of 50 percent.  So that means a whole lot of being Read more [...]


An anecdote from the prop desk: The unprepared trader

May 7th, 2015 | By | Category: General Comments
Often new traders think they are prepared to trade when they aren't.  They think they have done the sufficient preparation to trade and the market truth is that they haven't. Traders who we have trained from scratch to consistently profitable have always met the market definition of prepared.  Those who have underperformed have met their definition of prepared but not the market's.  They have failed to fill the gap between their beliefs and the market's demands. An example of this occurred yesterday on our trading desk.  Traders thought they were prepared.  And by market demands definition they weren't.  By my definition Read more [...]


The education of a trader: The PlayBook

Apr 26th, 2015 | By | Category: General Comments
mikebellafiore In my second book, The PlayBook, I advocate archiving a favorite setup from each trading session. After each close, choose a best setup from the session that fits your trading style.  Reverse engineer the variables of that trade.  Archive this trade in a comprehensive format, perhaps like the SMB PlayBook.  As traders we should build from our strengths, doing more or what works for us and doing it bigger, with more trading capital. The first step is understanding what we do well.  Study of our favorite setups after market hours and creating a system to do this is a best practice to improve performance. This Read more [...]