Posts Tagged ‘ trader training ’

Trading bigger is much easier than trading with edge

Oct 20th, 2016 | By | Category: General Comments
Trading bigger is much easier than trading with edge. I am working with a developing trader, nearing 15 months of live trading.  He is starting to trade with edge. I am seeing 3/5 days of trading profitably. I am noticing in his reviews a specificity of setups that he is trading.  He is not trading for stocks to finish higher or lower for the day.  He is trading for a stock to trade lower or higher from a given point with specific variables.  This is the essence of short term trading.  He gets it. I am noticing a nice string of $600-700 days, with an occasional 1kplus day. I am noticing this trader trading Read more [...]

You cannot do this and be a successful trader

Sep 27th, 2016 | By | Category: General Comments
Last Friday as I was walking off our trading floor, a beaming SMBU student yelped at me, "Bella I could hug you after today."  He was very pleased with the progress he had made as a trader. Fast forward to today and that same trader caught me hitting the elevator for my walk home.  I asked him how trading went for him today. He said, "Bella as good as I did last Friday, I did as poorly today.  I just did not have the discipline to enter my trades at the price that I wanted." I am going to write something now, for which you must follow no matter what product or time frame you trade. You cannot become a successful Read more [...]

Some questions from a European trader learning US markets

Sep 26th, 2016 | By | Category: General Comments
One of our SMBU students visited our desk in NYC from Sweden today. Merritt, from SMBU Trading Conversations on Friday 1:30PM EST, joined us for lunch, as did this trader's dad. This European trader is a graduate of SMB DNA and The Winning Trader and working on his game, after work hours from Europe. There were two issues that arose during lunch that merit discussion: 1) What trades do I take with a limited ability to watch markets? 2) How do I settle on the best stocks to trade during Earnings Season? What trades do I take with a limited ability to watch markets? For this trader I like: a) Changing Fundamentals Read more [...]

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 [...]

40 trading lessons from The PlayBook

Sep 14th, 2016 | By | Category: General Comments
An experienced and successful trader is starting with our desk, powered by Kershner Trading Group, next month. He is one of the more diligent traders you could meet. I have compared him to Tim Tebow in One Good Trade for work ethic. He just powered through One Good Trade and The PlayBook to improve his trading game and better prepare to trade on our desk. As is his way, he sent me 40 rules he highlighted from reading The PlayBook.  I thought I would share this experienced, successful trader's lessons from this trading book with you:   You are only as good as the stocks you trade Make one good trade then Read more [...]

Things heard on the prop desk this Monday

Sep 13th, 2016 | By | Category: General Comments
Monday's strength was surprising to some prop traders on the Street, after the huge down move Friday.  Let me share some things heard on our prop desk, and then make a trading point. Me: didnt expect today Trader: it's just so annoying Me: yes yes yes.  but good example of.....its our job to trade the market not expect the market to trade the way we want. Trader: true Me: I shorted this PII- so guilty as well ....................................................................... Trader B: After the sell off on Friday, and TICK below 1000 we expected a gap down Monday Me: It is what it is Trader B: Read more [...]

Man I stink II!

Sep 12th, 2016 | By | Category: General Comments
The feedback I received was decidedly positive that Man I stink! was very helpful for traders.  It placed in context the challenge many face to become consistently profitable traders.  The new trader wants so badly to be a successful trader.  Most have succeeded at most things in their life prior.  They expect success quickly.  And it does not work like that.  It is very helpful for the newb to learn that it does not work like this even for those at a firm full of resources, education, mentoring, coaching, capital, technology and a deep bench of successful traders. So I present Man I stink II. During an email exchange Read more [...]