Posts Tagged ‘ trading ’

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 [...]

Start Your Trading Goals for 2017 Now

Oct 10th, 2016 | By | Category: General Comments
Wait a minute... we've still got another two and a half months until the end of this year, why are we talking about getting ready for next year? The pro traders on our desk are already preparing their goals for 2017. Proper preparation is a never-ending process that requires you to be thinking ahead. Even the top performing traders know how they can improve and they are making plans for the next month, year, and even 5 years out. After 20 years, even Steve Spencer has found no reason to stop looking for ways to improve. So, back to you. How are YOU going to improve in 2017? Do you need to learn better setups? Do you need to Read more [...]

Fall 2016 SMB DNA Applications Now Being Accepted

Oct 6th, 2016 | By | Category: Dna Program
We are very excited to announce that applications are now being taken for the Fall 2016 DNA of Successful Trading! The Spring DNA students gave outstanding feedback and we've implemented some huge improvements that we will be letting you know about over the next few days. The program starts in just a few weeks, so take a minute to apply right now. The DNA of Successful Trading has been the turning point for many traders. We are proud of the success that traders are experiencing and hope you plan to join us this fall. Read more [...]

“Just Tell Me What to Do”

Sep 18th, 2016 | By | Category: Options Education, Systems Development, Systems Trading
Developing traders are sometimes humble (or desperate) enough to make a request for help that sounds something like "just show me", "give me a step by step", "what's an if-then that I can use", etc. The response we provide is usually disappointing. The developing trader wants the answer to begin with "whenever you see this happen, do this...". However, our answers usually repeat a list of principles that matter for each type of trade. “The man who grasps principles can successfully select his own methods. The man who tries methods, ignoring principles, is sure to have trouble.” -Ralph Waldo Emerson We have programs Read more [...]

Building your trading team

Sep 18th, 2016 | By | Category: General Comments
Performance isn't exclusively about skill and strategy.  In fact, one top coach leaves all of this out of his top three keys to building a team. This is interesting to us as traders, as some of us trade in teams or something like teams, for improved performance. Team Trading is part III of our training for new traders on our desk.  Team trading is present at Hedge Funds and institutional desks but uncommon at prop firms.  Most prop firms employ the mentor/coach infrastructure, with some more successful than others. I am not here to argue which is better, just that we have settled on Team Trading, with great appreciation Read more [...]

How to make better trading decisions

Sep 16th, 2016 | By | Category: General Comments
In this Ted talk below, writer Julia Galef argues that making good decisions is dependent on employing a scout mindset.  This talk is helpful for us as traders to make the best trading decisions. Galef breaks mindset into two categories: scout mindset and soldier mindset.  The soldier mindset defends their ideas.  This "motivated reasoning" tries to make some ideas win and others lose.  Contrast that with the scout mindset, where you try and get an accurate picture of what is really there. How does this relate to trading? "TSLA has to trade lower.  Did you see that article today on Bloomberg comparing it to VRX?  Read more [...]

Working hard may be getting in the way of your trading success

Sep 6th, 2016 | By | Category: General Comments
You say: I want to be a professional trader.  I need to work as hard as I can to accomplish that goal.  I will outwork everyone at my firm or in my trading community. There is a problem here.  Catch it? To accomplish your goal working as hard as you can will not help you accomplish your goals.  That will lead to burn out. Instead you must work hard AND smart.  Consider this thoughtful and wise review from a developing trader, with just 16 days of trading experience, about working hard AND smart. Personal Goals Earlier this month, I helped myself in a big way by getting to bed earlier. I began leaving Read more [...]

StockTwits Podcast: Don’t Call it Options Income Trading

Jul 8th, 2016 | By | Category: General Comments
StockTwits sat down with SMB's Head Options Trader, Seth Freudberg, to learn what it is that makes index & equity options traders unique in the world of finance. Read more [...]