Posts Tagged ‘ trading mentor ’

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 [...]


What this new trader learned on Day 1 (166 lessons)

Sep 20th, 2016 | By | Category: General Comments
Our new class started part I of their training this week, with the SMB Foundation. Some say, "The only way to learn how to trade is trade." Here is some evidence contrary to that position. One trainee with past trading experience sent me his notes, without solicitation, as to what he learned on Day 1 of our training program.  He participated in live classroom instruction, demo trading, interaction with traders on the desk, the archived Foundation training course, and access to our trading tools.  Here is what he learned: Get better every day Respect the markets Ask questions Only Read more [...]


Building your trading team

Sep 18th, 2016 | By | Category: General Comments
Performance isn't exclusively about skill and strategy.  In fact, one top coach leaves all of this out of his top three keys to building a team. This is interesting to us as traders, as some of us trade in teams or something like teams, for improved performance. Team Trading is part III of our training for new traders on our desk.  Team trading is present at Hedge Funds and institutional desks but uncommon at prop firms.  Most prop firms employ the mentor/coach infrastructure, with some more successful than others. I am not here to argue which is better, just that we have settled on Team Trading, with great appreciation Read more [...]


40 trading lessons from The PlayBook

Sep 14th, 2016 | By | Category: General Comments
An experienced and successful trader is starting with our desk, powered by Kershner Trading Group, next month. He is one of the more diligent traders you could meet. I have compared him to Tim Tebow in One Good Trade for work ethic. He just powered through One Good Trade and The PlayBook to improve his trading game and better prepare to trade on our desk. As is his way, he sent me 40 rules he highlighted from reading The PlayBook.  I thought I would share this experienced, successful trader's lessons from this trading book with you:   You are only as good as the stocks you trade Make one good trade then Read more [...]


Man I stink II!

Sep 12th, 2016 | By | Category: General Comments
The feedback I received was decidedly positive that Man I stink! was very helpful for traders.  It placed in context the challenge many face to become consistently profitable traders.  The new trader wants so badly to be a successful trader.  Most have succeeded at most things in their life prior.  They expect success quickly.  And it does not work like that.  It is very helpful for the newb to learn that it does not work like this even for those at a firm full of resources, education, mentoring, coaching, capital, technology and a deep bench of successful traders. So I present Man I stink II. During an email exchange Read more [...]


Man I stink!

Sep 10th, 2016 | By | Category: General Comments
There are four traders in our September trading class, chosen from thousands of applicants. 16 days into his trading career one our new traders wrote this review: At the start of your career you are supposed to stink.  The path of many traders is: 1) lose too much 2) lose less 3) flat 4) slightly positive 5) consistently positive 6) bigger in your edge 7) high performing trader All of this takes years.  High Performing Trader is a career path, not a fast track to bottles and models, and money to rain. Inside of those seven steps above is more, much more.  Judging yourself at the start Read more [...]


Reading the Tape is all you need

Sep 9th, 2016 | By | Category: General Comments
Reading the Tape is all you need! For some trades and some traders that is. One savvy trader in an email exchange with veteran traders, said it so well: When we teach our new traders to make trade decisions, we ask them to consider 5 variables: The Big Picture Technical Analysis Reading the Tape Intraday Fundamentals Intuition On most trades we want our traders considering ALL of these variables to make a trade decision, so that their trade decisions are best. But, but, but the savvy trader above said it so well.  You can make trade decisions JUST from the tape, or order flow.  That is enough 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 [...]