Posts Tagged ‘ trader training ’

Bring a consistent you to markets to improve your trading

Mar 17th, 2017 | By | Category: General Comments
Trader wants to improve his trading consistency.   (Please assume Trader has some edge in markets.) Trader might double down on their efforts to perform better during market hours.  If I just focus better.  If I just take only A+ trades.  If I just wait for my trades more patiently.  If I just use this indicator.  If I just size up in my best trades.   If I just stop making those trades.  If I just give my trades more room.  And on and on and on....... What if the progress is not in the effort during market hours? We know markets are always changing.  We know that each trade is not quite the same.  This Read more [...]


This retail trader just crossed 100k in trading profits

Mar 13th, 2017 | By | Category: General Comments
Last month on Twitter, I spotted this tweet and impressive equity curve from a developing retail trader: As the managing partner of a proprietary trading firm in NYC, I study traders succeeding.  This retail trader is succeeding! I reached out and asked him a few questions (in bold), hoping to learn from his success.  Below are his answers. Who are you and where are you from? Why did you get started in trading? I’m a retail trader from Sydney (@_jpark89 on Twitter) and videos such as “How to make $1000 in 10 minutes,” “How to buy stocks before they spike 200%,“ “How to turn $1000 into $10,000,” were Read more [...]


How do I start as a trader?

Mar 7th, 2017 | By | Category: General Comments
Recently I visited Pace University investment club to talk about the life of a proprietary trader.  We make an effort to reach out to college trading clubs and college investment clubs and meet their members.  Some of our best traders have come from these clubs.  Also, college students rarely get to interact with a professional trader so sharing our experience is helpful. At my presentation for Pace a sharp member asked, "How do you recommend we get started trading?" It is a great question.  I have written about this extensively in The PlayBook, but let me offer an outline here: Read, read, read about markets Read more [...]


8 lessons from the prop desk (The 2017 TradersExpo NYC)

Mar 3rd, 2017 | By | Category: General Comments
At the 2017 TradersExpo in NYC, I shared 8 lessons from our prop desk.  As a partner at a prop trading firm in NYC, I have the privilege of watching many traders grow from new to consistently profitable trader to high performing trader to even better.  I see how they succeed and why.  I share their obstacles and together we push past them.  I have a floor seat to watching them grow.  Along the way, these traders teach me and our trading community lessons. Today I will share 8 lessons with you learned from traders on our desk. Find a trading niche that has edge and leverages your personality and cognitive strengths. Read more [...]


5 inspirations from Dr. Steenbarger’s Master Class

Feb 28th, 2017 | By | Category: General Comments
Yesterday I posted 21 key takeaways from Dr. Steenbarger's recent Master Class at the TradersExpo.   During the introduction of the Master Class Dr. Steenbarger challenged us to write down our goal for our time with him.  I wrote, "To be inspired with ideas to teach and train our guys better!" He promised not to stop teaching until each of us had achieved our goal.  For me, he delivered. Today, I would like to share 5 inspirations from the Master Class to train our traders better. 1. Develop a revised checklist for One Good Trade.  I developed a template for a good risk/reward trade in One Good Trade.  Dr. Read more [...]


The danger of the overconfident trader

Feb 12th, 2017 | By | Category: General Comments
Yesterday I wrote about a trader struggling with added size and risk.  In seeking a solution for this trader one possible area of focus was overconfidence.  How does it happen?  Why is it dangerous?  What can we do to combat overconfidence? You trade well.  You are seeing screens well and the market is trading in a way that allows your strengths to produce outsized PnL.  Your firm gives you a bump in size and risk.  Everyone around you sees you slaying the market and comes over with the fist bumps and giggles.  On a prop desk, you get followed around more by traders engaging you in your trading.  You are the BMOD Read more [...]


A trader struggles with added risk

Feb 11th, 2017 | By | Category: General Comments
Here is an anecdote from our proprietary trading desk in NYC. A consistently profitable trader (CPT) shot me an email this week to chat about struggling with a recent bump in share size and risk.  He felt he had taken a step back with his trading after being given the opportunity by the firm to take a few steps forward with his newfound share size and risk. His recent struggles: forcing trades forcing size with trades hitting bids to enter short trades because he could unease with the new numbers on his PnL anxiousness This CPT had experienced this before with recent bumps.  So we chatted about a Read more [...]


A loud coaching session on the desk

Feb 9th, 2017 | By | Category: General Comments
Yesterday we had a loud, unscheduled coaching session with the newest traders on our desk.  There were raised voices and language not suitable for network TV. By my count this was the third time these newest traders did not meet an acceptable level of AM preparation.  I am not suggesting they did not prepare.  I am not suggesting they did not compile many trading ideas on our AM Ideas sheet.  I am suggesting they missed a few trading opportunities that they should not have because it was not on their AM Ideas sheet. One trader carped about a missed 2nd Day play in KORS.  What are you complaining about in real-time Read more [...]