Posts Tagged ‘ trading coach ’

Ten Takeaways From A Top Trading Coach on How To Be A Successful Trader

Jan 10th, 2013 | By | Category: General Comments, Mike Bellafiore's (Bella's) Blogs
SMB had an elite trading coach (name cannot be shared for compliance reasons) visit yesterday for an informal presentation with tips on how to improve trader performance. This coach has worked with the top traders in the world, at prop firms, investment banks and hedge funds. SMB Trader, King of Men, put together a list of ten takeaways from this talk. We thought you might consider them for your trading. 1. Successful traders have meaningful attachments or some other source of motivation and happiness outside of the financial markets. 2. Successful traders are proactive, they know what they need to learn and they know Read more [...]

Should This Trader Make a Comeback?

Jan 5th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
Below is an interesting trading anecdote I received via LinkedIn.  I asked the writer if I could share his trading experience with our community.  He agreed.  The names and places have been changed for compliance reasons and we have no interest in saying anything negative about anyone or any firm on this blog. What I find interesting about his note is: 1) Good traders are not always good teachers. 2) Trading strategies that worked in the past may not going forward. 3) Trading is a tough sport 4) Some catch a bad break and start during difficult market conditions.  One of the first lessons we were taught at my Read more [...]

A Trade to Master- $RIG

Jan 5th, 2013 | By | Category: Mike Bellafiore's (Bella's) Blogs
One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade.  This was his Trade Management slide for the trade.  There are some lessons here. 1) Great job being in the best stock yesterday for intraday traders, RIG.  You are only as good as the stocks you trade.  This was a stock with opportunity. 2) The Trend Trend Trade is a powerful trade for the new trader.  This is one of the first patterns you should learn.  First work on taking as much as you can from a basic set up like this before moving to more difficult set ups. 3) I would take issue with some of his stops, but this Read more [...]

Why I got long FDO

Jan 3rd, 2013 | By | Category: General Comments
FDO gapped down and then made a sharp downmove on the open.  I caught some of the downmove with a Momentum Trade.  But then the momentum short was over and I had a decision.  Do I look to trade $FDO for a bounce or for a continuation move?  I chose the former and will explain w1hy. The market has been strong of late.  Even before Congress passed its bill averting the Fiscal Cliff the market has shown great signs of strength.  When we are in a strong market stocks are more likely to bounce.  When we are in a strong market REAL STOCKS are more likely to bounce.  FDO is a real company, a real stock.  Also when stocks make Read more [...]

Finding the Right Trading Product and Style

Dec 4th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Mike-Great thought provoking post (The biggest question for a trader) as usual. Is there a way to determine what product and type of trading fits a trader? Does it really take trial and error? Has to be a better way….any insight here? Thanks BP @mikebellafiore Thxs for reading as always BP. 1) You can take a personality test and use that as evidence of best type of trader For You.  I have done this and actually learned some interesting things about myself.  For example I have the type of personality that likes to sort out the answers to problems myself.  This was very helpful for me to learn as a trader and coach. Read more [...]

The Biggest Question for a Trader

Dec 3rd, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Hi Bella,                   When I started out to go day trading, I feel as though I have wasted allot of money and time on so-called “education”. I can tell you that I have spent over 10k in it. A friend recommended (********) to me and I took their course. They made it seem so easy with patterns and MAs. It is sad that there is no way of telling who the real deal is and who the fakes are. I feel now that being able to read the tape is a must. Right now it is one step forward and two steps back. Now I know the only way to tell if a supply or demand area will hold; is to be able to read the tape and Read more [...]

Do not say Practice

Nov 20th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
I end most emails with: "Keep working on your trading game."  We teach our traders to do the daily work each day that helps them improve.  They are training to become consistently profitable traders (CPTs).  Their ultimate goal is to become a your best trader (YBT). Apparently I could use better words to motivate my traders. Dan Coyle, author of the Talent Code and the blog with the similar title writes that we should not use the word practice as coach and mentor.  It is not understood in the field of performance science why some are more motivated than others.  Some can practice for hours daily and never lose their drive Read more [...]

Reading the Tape Questions and Trading from the Middle East

Nov 4th, 2012 | By | Category: Mike Bellafiore's (Bella's) Blogs
Dear Bella, I can’t find the words for thanking you and the folks at SMB for the great free educational staff you post daily on your blog, I just can’t. I want to thank you also for the great course of reading the tape I have taken , It didn’t teach me how to read the tape it did taught me how to really trade, what a course! Thank you for teaching me how to read the tape Bella. -          I have a question: after opening a demo account with ($$$- deleted for compliance reasons) Trading, their platform has blue prints in the time and sales, describing it as an Irregular trade which sometimes is transacted Read more [...]