During a weekly review one of our developing traders wrote: Summary: It was an ok week P&L wise but it should have been a much better week given the opportunities we had in the macro plays. With the SPY breaking key support level, there were many ETFs that were In Play e.g. GLD, GDX, FAS, IYR and the TLT. I wasn’t properly … Read More
Your Trading Brain Makes No Distinction Between Trading Live and Mental Rehearsal
Hi Mike. Is it ok if we archive a play even if we didn’t execute it well, we didn’t make money, or even if we didn’t saw the pattern live? Or do you recommend only add the plays we were actually in and we did at least a little well? @mikebellafiore Gr8 question! In The PlayBook I recommend for all … Read More
What Are You Going To Do With That Anger?
During our midday meeting with our College Training Students and new traders I noticed one new trader quite upset. He was so upset it was uncomfortable for me to look at him. Was he upset at the firm? Something I had just said? Himself? Having to sit in this meeting during market hours? When traders get upset is an upset … Read More
Before Placing a Trade: Embracing Risk Management for Success
Today’s lesson is going to be a little about trading psychology and a little about money management. At the end of this post we have provided additional training videos to further enhance your skills. We are going discuss what risk is and how most traders view it from the wrong perspective. First, let’s cover a couple of definitions: Money management is how … Read More
Did You Trade Well? (Part II)
On Twitter I received this question: Does the success of ur day hinge on ur PnL, or proper execution? By 1 std I failed 2day, the other = success cc @MikeBellafiore @MikeBellafiore At SMB we do not define success or failure by our P&L but by whether we traded well. At the close we do a detailed trading review of how … Read More
Did You Trade Well? (Part I)
On Twitter I received this question: Does the success of ur day hinge on ur PnL, or proper execution? By 1 std I failed 2day, the other = success cc @MikeBellafiore @MikeBellafiore At SMB we do not define success or failure by our P&L but whether we traded well. At the close we do a detailed trading review of how well … Read More
Options Trading Commissions: Choosing the Best Broker
In our continued discussion about picking a broker for your options trading, one must always consider commissions. As discussed in our previous article, the good news is that rates are more competitive than at any other time. When you are just starting out learning how to trade options there are many brokers to choose from and just as many different … Read More
Webinar Recording–“Trading Fundamentals: Things Great Traders Do and Never Do” with Mike Bellafiore and John Hoagland
If you missed this special presentation on “Trading Fundamentals: Things Great Traders Do and Never Do” with Mike Bellafiore and John Hoagland from TopstepTrader.com, this is your opportunity to watch it. They discussed what separates great traders from the rest of the pack. Please sign up below to watch the recording: no relevant positions