Mike Bellafiore, author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading, joins Tim Bourquin of TraderInterviews.com to discuss his experiences starting SMB Capital and watching other traders succeed and fail. Tim and Mike also talk about how to become a consistently profitable trader. Listen to the interview here. .
Open Your Mind
Truth be told I am somewhat amused each morning when our intern AGray pops by my station seeking our “Best AM Idea” for the Open. I am a trader and not a predictor. As a trader part of your job is to identify the MOST important prices in a stock and if a stock touches one such price you are … Read More
The Market Doesn’t Care About Your Opinion (KSS)
The market doesn’t care about your opinion. If you have a problem with this, get over it. Today during our After the Open Review one our Newbs got a harsh tongue lashing for thinking he knew better than the market. This is a learning experience for us all. Iron Mike Mike made a great trade in KSS on the … Read More
An Exercise 2 Help U Improve as a Trader (RIG)
Today RIG was the easiest of stocks to trade. 55 was the level. RIG dipped below there. And it trended in the most beautiful downtrend. Were you in this trade? I wasn’t. This level was discussed during our AM meeting. Again I wasn’t in this trade. We have discussed this RIG level on our desk for days. Oil was weak. … Read More
SMB Trade of the Week-DNDN
Watch Mike Bellafiore in this short video discuss SMB’s Trade of the Week. SMB’s new video series for StockTwits TV first released exclusively on the iPad, details trading patterns that are consistently used on SMB’s trading desk. Mike Bellafiore, partner at SMB Capital and author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley), discusses a … Read More
One Good Trade Unveiled: An Unfiltered Review and the Chance to Win the Book
Click on the picture above for the full review. Steven Place writes for Investing with Options Join him for StockTwits Brunch with Steven Place on Saturdays at 11 AM on StockTwits TV For more about Steven Place see his new site: earningstrades.com
Traders Ask- Now What?
Question: What do traders do for the rest of the day after they have been stopped out especially when it happens early in the day? Answer: Thank you for the excellent question. You trade on the demo. You make details notes in your trading journal about the set ups that ended as losers. You talk to others on the … Read More
A Conversation on a Prop Desk
Trader Casey,”Bella what do you think of my OCR short at 22.50 today?” “What was your plan?” I asked. “I wanted to catch the move from 22.50 to 22.10, the next level.” “What was your stop?” “Bella it was 22.52.” “You probably would have needed a stop of 22.66 for that play to work consistently. So you would have had … Read More