Posts Tagged ‘ trading coach ’

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 [...]

Mike Bellafiore and Ralph Acampora on Benzinga #PreMarket Prep

May 29th, 2015 | By | Category: General Comments
Mike Bellafiore was a guest on Benzinga #PreMarket Prep. Below you can listen to his interview and one with the godfather of technical analysis Ralph Acampora. Listen here. Here is what you will learn from Mike during this interview: 1) The market is not fair.  Get over it! 2) One of his favorite trades: Changing Fundamentals Trade 3) How prop traders are attacking markets against the bots 4) Why he was leaning long ULTA, long GME and short $DECK below 70 5) Why DECK moved 15 percent in the afterhours Listen to the daily broadcast live: #PreMarket Prep for May 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 [...]

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 [...]

The Education of a Trader: Trading on Tilt

Apr 23rd, 2015 | By | Category: General Comments, Trader Development, Trading Psychology
Our friends at asked: How do you deal with emotions in your daily trading? What are your tips and suggestions that help you avoid, if possible, making emotional and psychologically caused trading mistakes. @MikeBellafiore Trading on tilt is the 800 pound gorilla on every trading station.  On our desk today there were a few desk slams in this $FB, Facebook, as it changed direction as fast and frequently as an NFL running back. Managing your emotions as a trader is well.....manageable. In this video, I outline ways to help manage your emotions: Taking notes actively while trading in a journal Focusing Read more [...]

A Smooth Sea Never Made a Skillful Sailor

Dec 21st, 2014 | By | Category: Guest Blog, Health and Trading, John Locke, Options Education, SMB Options, SMB Video Blogs, Trade of the Week, Trader Development, Traders Ask, Trading Ideas, Trading Lesson, Trading Psychology, Trading Theory
People are made for challenges. When we respond to challenges, we become alert. As we move and think to overcome those challenges, we build physical and emotional muscle. We open up our bodies and minds to new possibilities. We learn and grow at an astounding pace, becoming stronger and creating amazing things. In the absence of challenge however, the opposite happens. We become lazy. With no need to move or think, our strength and skills deteriorate.  Our reflexes become slow and our minds close down. This is why I warn of the dangers of a smooth sea. Everyone is a great trader when the market is calm and predictable. Read more [...]

Super Trader!

Dec 16th, 2014 | By | Category: Guest Blog, John Locke, M21 Trading System, Options Education, SMB Options, Traders Ask, Trading Ideas, Trading Lesson, Trading Psychology, Trading Theory
  Being successful at trading is really quite simple.  Follow a certain set of principles over an extended period of time and eventually you’ll produce great results. Unfortunately learning, and more importantly applying, those concepts can be quite challenging. This is especially true when the process is approached with the wrong psychology. And if you think about it isn’t it the same way with just about anything we learn? For example, one of the things I’m learning to do right now is typing, a skill most of you probably take for granted. Now before you laugh, realize that I went to trade school and then directly Read more [...]