Last night a trader sent me a review from a very poor trading day. He wrote: Little mad at myself for not taking 2 of my best setups in UVE below 18 and HCI at 32. Had the alerts go off but didn’t take the trade, and those trades played out to perfection. It definitely got under my skin most … Read More
An anecdote from a developing trader on the prop desk- sizing
One of our developing traders is consistently profitable. Undeniably, he trades with edge. This is a great position to be in. But for some traders it is not sufficient. They are making money, but they are not making enough. And when you are sitting next to and behind 7-figure traders it is not enough. So this trader sought to trade … Read More
Optimizing Discretionary Trading with Automation
At our firm, traders can be discretionary traders, automated traders or hybrid traders. Discretionary traders push the buttons and make their own decisions. Automated traders develop and idea, backtest, forward test, and then let computers run the strategy. Hybrid traders do a little of both and use technology to inform better discretionary trading. Often we hear in the Financial News … Read More
Ten reasons to attend Traders4ACause 2017
SMB will be attending, donating to, and presenting at the 2017 Traders4ACause Charity Event, this October 6-8 in Las Vegas. Here are ten reasons why you ought to attend: It’s in Las Vegas. Every dollar goes directly to selected charities. It is a wonderful networking event for you to meet serious and successful traders. I have attended … Read More
[Recording] Mentoring with Bella (Webinar August 18)
Mike Bellafiore helped an improving trader from our community decide where to focus to get to the next level in his trading.
What is working for YOU
When I receive emails from new and developing traders they often dwell on what is not working with their trading. They recite with precision exactly what they are doing poorly and with thoughtful reasons for this. Inevitably, they ask for help with these issues. My first response generally is to ask them what they do well. And we then build … 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