Posts Tagged ‘ trading class ’

I just need to eliminate my ehh trades

May 24th, 2017 | By | Category: General Comments
Last night, I was reading the review of one of our traders, Trader A, who wrote, "I just need to stick to my plays that make me money (ETRM, TWTO, GLYC) and just faze out those ehhh ehh trades, I will become very consistent and very profitable." To Trader A, I responded, " When u say get rid of ehh trades be more specific. My PlayBook is abc (specific variables that make up the trade) My antiPlayBook is 123 789 2334 trades (specific variable that define the trade) Specific, specific, specific." Said another way, I do not understand what I want to faze out my ehh trades means.  What are your ehh trades?  If you do Read more [...]


I want my business judged on MY trades!

May 2nd, 2017 | By | Category: General Comments
I have been mentoring a futures trader recently.  In a daily review (below), he provided feedback that mentoring encouraging him to focus on his best trades was powerful.   I am working with a developing equities trader, who is very profitable when he focuses on his trade.  He can tell you what it is.  He writes in his reviews that he wishes to wait for these trades.  Most recently, I suggested he place a post it on his trading screen: I want to be judged on MY trades! This is a simple exercise, yet powerful.  Try it. *no relevant positions   Read more [...]


From Our Desk to Yours: 5 Key Lessons from Our April Trade Reviews

May 2nd, 2017 | By | Category: Trading Lesson
Register now to attend our next online trading class, Wednesday, May 3, 2017 at 5 PM ET... Managing partner, Mike Bellafiore, will share 5 lessons the firm's monthly reviews. Each month, firm traders complete a monthly review on how they can improve. The work traders are doing can help inform you on ways you can improve. 〈 REGISTER NOW 〉 Read more [...]


5 ways our top traders are working to improve

Apr 21st, 2017 | By | Category: General Comments
  I was on the West Coast last month to present to the Scottsdale (Phoenix) Traders and Investors Meetup Group.  After my presentation, an astute and succeeding retail trader approached and asked, "What do your top traders do to improve?" At SMB, our top traders have been homegrown.  We hired them.  Trained them from scratch.  Provided capital, technology, coaching and mentoring to grow.  The best have become seven-figure traders.  Many more have become high performing traders.  Still even more have become consistently profitable traders. What are our top traders doing to improve? Let me be clear they 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 [...]


SMB at The TradersExpo New York 2017

Feb 6th, 2017 | By | Category: General Comments
SMB will present at The TradersExpo New York 2017.  You can sign up to ATTEND FREE. Mike Bellafiore will present February 27: Seth Freudberg, who runs our Options Desk, will present as well. Last year Mike presented and then stuck around to answer questions. We hope to see you at The TradersExpo NYC 2017. *no relevant positions   Read more [...]


The first test for a new trader

Nov 4th, 2016 | By | Category: General Comments
You get hired for June on a trading desk. You take The Foundation, a 6 week course.  You learn everything you didn't learn in school, the internet, blogs, cable TV (just kidding), your uncle, and/or trading gurus about the markets necessary to place professional trades. Then it's on to Trader Development where for the next 6 months you experiment with different trades, build a PlayBook, find your niche, build habits of best practices, attend mentoring sessions, watch trading film, share notes with fellow traders, learn to leverage technology thru filters, scanners and autotrading.  You are expected to show an edge in Read more [...]


Boring old habits

Nov 3rd, 2016 | By | Category: General Comments
Ray Allen, former NBA basketball great and UConn alumn, penned a letter to his younger self with the advice: stick to your boring old habits.  He wrote movingly: You’ll win a championship in Boston. You’ll win another in Miami. The personalities on those two teams will be different, but both teams will have the same thing in common: habits. Boring old habits. I know you want me to let you in on some big secret to success in the NBA. The secret is there is no secret. It’s just boring old habits. What would boring old habits be for your trading? That list might include: Get to bed before 9:30PM Read more [...]