Posts Tagged ‘ trading coach ’

21 key takeaways from Dr. Steenbarger’s Master Class

Feb 27th, 2017 | By | Category: General Comments
This Sunday I had the privilege of taking Dr. Steenbarger's Master Class, trading coach and author, at The TradersExpo NYC.  It was four hours jam-packed with learning.  The Master Class was truly exceptional! Many have reached out to my inbox and asked for me to share my notes with you.  I will do so here. To become a distinct trader you must leverage your personality and cognitive strengths. Distinctive traders possess distinctive strengths. Conscientiousness and resilience build success. Openness to experience sustains success. The largest players use factors to make trade decisions. The successful Read more [...]


Master Class taught by Dr. Steenbarger

Feb 24th, 2017 | By | Category: General Comments
I am really excited to be taking the Master Class taught by Dr. Brett Steenbarger, trading coach, this Sunday at The TradersExpo NYC. Our culture at SMB is simple: improve every day. That starts with me and continues through all, including the newest of newbs. I was privileged to see an outline of the Master Class and provide feedback, which I would describe as jam-packed with learning. If you are in the NYC area, and serious about working on your trading game, I hope to see you at the Master Class. Bella *I will be presenting Monday at the TradersExpo NYC at 8:15AM- 8 lessons from the prop desk: Success stories 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 [...]


A trader struggles with added risk

Feb 11th, 2017 | By | Category: General Comments
Here is an anecdote from our proprietary trading desk in NYC. A consistently profitable trader (CPT) shot me an email this week to chat about struggling with a recent bump in share size and risk.  He felt he had taken a step back with his trading after being given the opportunity by the firm to take a few steps forward with his newfound share size and risk. His recent struggles: forcing trades forcing size with trades hitting bids to enter short trades because he could unease with the new numbers on his PnL anxiousness This CPT had experienced this before with recent bumps.  So we chatted about a Read more [...]


A loud coaching session on the desk

Feb 9th, 2017 | By | Category: General Comments
Yesterday we had a loud, unscheduled coaching session with the newest traders on our desk.  There were raised voices and language not suitable for network TV. By my count this was the third time these newest traders did not meet an acceptable level of AM preparation.  I am not suggesting they did not prepare.  I am not suggesting they did not compile many trading ideas on our AM Ideas sheet.  I am suggesting they missed a few trading opportunities that they should not have because it was not on their AM Ideas sheet. One trader carped about a missed 2nd Day play in KORS.  What are you complaining about in real-time Read more [...]


A solution to improve your patience as a trader

Feb 8th, 2017 | By | Category: General Comments
Dr. Brett Steenbarger, the Coach K of trading coaches, generously visited our firm today and spoke with our traders.  I asked him to tackle four issues during his discussion: I want to take my trading to the next level If I could just wait for my setups If I could just stop taking lesser trades Define the competitive trader I wrote about the first three issues in my blog post yesterday, We are all working on that on our trading desk as well. But when you have the Coach K of trading coaches grace your firm, you ask him to share his thoughts on these vexing trading issues. The discussion was fascinating, Read more [...]


We are all working on that on our trading desk as well

Feb 7th, 2017 | By | Category: General Comments
Yesterday a 30 year market veteran, who has been a part of our trading community for years, stopped by to visit.  He has been struggling with his trading and felt something was just missing.  He wasn't sure exactly what.  His visit and our discussion about his struggles became so interesting to me.  This retail, developing trader was struggling with the same issues on our desk, even among our successful traders. He said three things about his trading that I hear guys on our desk say.  In fact, I hear these from many guys on our desk, even our best traders.  What was most interesting to me, was the three things this 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 [...]