How you find more trading opportunities in this market

I was on a phone call with a former *star* futures trader who blurted, “this is the worst market I have seen in my life.”  He was referring to the lack of movement in e-mini futures. During a private coaching session with one of our better senior traders, that trader stressed, “patience is the key in this market.” One veteran … Read More

When you are trading too big

When are you trading too big? Recently, while heading outside for a trading break, a developing trader stopped me near the elevator.  He gave me a progress report on a new strategy that he was running.  I love it.  It is unique.  He has backtested the strategy and it has edge.  No one else on the desk is trading it. … Read More

Snapchat- When to add size

Traders often want to trade bigger.  Today SNAP offered an example to me of when and how. I was short Shapchat ($SNAP) intraday and scrolling through the SNAP positions of our other traders on the desk. I felt like I was not big enough in my short. I started to think where I could add to my winning position. First, … Read More

An anecdote from the trading desk after a trader’s biggest loss

One of our developing traders showed great progress last month. He was trading with real edge.  We were very proud of his work. We were excited to watch him grow over the summer months. We talked internally with our support team about bumping him up for this month. And we did.  What came next? Next came the big rip. Friday … Read More

I just need to eliminate my ehh trades

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 … Read More

Trade to your strengths…..no really do this

It is a bit of a trading cliche now to “trade your strengths”.  As a trader, one gets tired of reading these trading maxims. Hugh Kimora, Trading Heroes, said this well for traders in his recent post here: But the vast majority of trading books out there are targeted at the beginning trader. They pretty much repeat the same old … Read More

The power of Team Trading

  Last night Team SWang, a collection of traders with unique skill sets that trade for firm, met for drinks and food to discuss ways that they could improve.  They are one of the top teams at our firm, based on PnL and improvement. Their team leader, SWang, encapsulated how Team Trading can help traders: “I didn’t know a team … Read More

5 trading lessons from monthly reviews

At the end of each month, firm traders are encouraged to complete a monthly review of their trading.  While reading firm reviews for April, 5 lessons stood out.  Let’s discuss them. 1.Don’t turn bad days into worse One developing trader is working on limiting losses on his bad days.  The thought is every extra dollar not lost on his bad … Read More