Posts Tagged ‘ trading mentor ’

It’s never just patience

Dec 3rd, 2016 | By | Category: General Comments
Often I hear traders decry their lack of patience.  If they were only more patient, they would win. From my seat, there is more to add to these thoughts of trading frustration. You might hear commonly on a trading desk, "I JUST need to wait for my levels."  Again the idea is if trader just waits for his levels he will start winning.  This in itself is not sufficient.  Trader must also add trades that work for him off of levels.  Internally we encourage traders to judge every level on a scale of 1-10.  Trader must define the levels worth trading off of.  Trader must develop their system that works best with their talents 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 [...]


I trade well when…..

Nov 2nd, 2016 | By | Category: General Comments
In The PlayBook, my thesis was for traders to study their best trades and build from them, trading these setups more often and bigger.  The feedback I have received is that this has helped many traders.  If you are not actively studying your strengths, consider doing so. Yesterday, during our SMB Options Tribe webinar, special guest, trading author, and trading coach to some of the world's largest traders Dr. Brett Steenbarger shared,"The best traders study when they trade best." This is a more complete thought. A subset of studying when you trade best is the best setups for you.  But studying your best trading involves Read more [...]


Trading bigger is much easier than trading with edge

Oct 20th, 2016 | By | Category: General Comments
Trading bigger is much easier than trading with edge. I am working with a developing trader, nearing 15 months of live trading.  He is starting to trade with edge. I am seeing 3/5 days of trading profitably. I am noticing in his reviews a specificity of setups that he is trading.  He is not trading for stocks to finish higher or lower for the day.  He is trading for a stock to trade lower or higher from a given point with specific variables.  This is the essence of short term trading.  He gets it. I am noticing a nice string of $600-700 days, with an occasional 1kplus day. I am noticing this trader trading Read more [...]


You cannot do this and be a successful trader

Sep 27th, 2016 | By | Category: General Comments
Last Friday as I was walking off our trading floor, a beaming SMBU student yelped at me, "Bella I could hug you after today."  He was very pleased with the progress he had made as a trader. Fast forward to today and that same trader caught me hitting the elevator for my walk home.  I asked him how trading went for him today. He said, "Bella as good as I did last Friday, I did as poorly today.  I just did not have the discipline to enter my trades at the price that I wanted." I am going to write something now, for which you must follow no matter what product or time frame you trade. You cannot become a successful Read more [...]


Some questions from a European trader learning US markets

Sep 26th, 2016 | By | Category: General Comments
One of our SMBU students visited our desk in NYC from Sweden today. Merritt, from SMBU Trading Conversations on Friday 1:30PM EST, joined us for lunch, as did this trader's dad. This European trader is a graduate of SMB DNA and The Winning Trader and working on his game, after work hours from Europe. There were two issues that arose during lunch that merit discussion: 1) What trades do I take with a limited ability to watch markets? 2) How do I settle on the best stocks to trade during Earnings Season? What trades do I take with a limited ability to watch markets? For this trader I like: a) Changing Fundamentals Read more [...]


Why I didn’t trade today

Sep 23rd, 2016 | By | Category: General Comments
I didn't trade this morning.  I had ever intention to do so when I left the office last night.  I like the opportunity in FB TWTR SRPT SPY IWM for today's trading session.  So this was not a decision of a lack of trading opportunity.  I, personally, was not in an optimal state to trade.  And therefor, I benched myself. First, for those of you who have children, you might empathize with this next anecdote.  Three times last night, while in a dead sleep, my son approached my bed, leaned directly into my right ear and said, "DAD.........".  There were different iterations of what followed after DAD!, but each awoke me Read more [...]