A tight wedge pattern for Stocks In Play is favorite trading strategy newly stressed on our proprietary trading desk. Two chart examples of this trading pattern were seen just yesterday with ATI: and CSX: I prefer when these wedge patterns appear in a Stock In Play- something with a news catalyst behind it. Breakouts from these wedge patterns work best … Read More
See the hypos!
I’m grinning from ear to ear today. One of my mentees was tasked yesterday to begin preparing premarket “hypos” each morning. It’s just what it sounds like – a few hypotheses for how the day might unfold, therefore providing a roadmap for the day with key inflection points and potential targets. Here’s a screenshot of his premarket journal post in … Read More
Transitioning from a Floundering Retail Trader to a Profitable Pro Trader
SMB’s main business is a prop trading desk in NYC. We partner with The Kershner Trading Group, who offers the best technology suite in our space and massive buying power, to run this business. Historically, even before Wall Street Warriors and One Good Trade and The PlayBook, SMB’s competitive advantage has been training traders from new to consistently profitably and … Read More
Competition at a prop firm fuels increased PnL
People often ask ne the value of trading at a prop firm. And there are many value adds that a prop firm brings to a trader, but I want to focus on one powerful performance driver. Competition! When SMB first formed a JV with the Kershner Trading Group our younger traders were in awe at the PnL numbers of the … Read More
What would you tell your younger trader self?
As I write, I am headed to Austin, Texas to train the newest class for our partners at The Kershner Trading Group. We train the new traders down there as a part of our JV (joint venture) with KTG. I will be training these new traders using The SMB Foundation, Part I of three parts of our training. Today in … Read More
A Trader’s Definition of Hell
What would a trader’s definition of hell be? I say it’s the following: On your last day on earth, the trader you became will meet the trader you could have become. Scary to think about isn’t it? I have two ways of avoiding “trader hell” that I’ll share with you. Focus on process. I can guarantee you that if you … Read More
The First Fifteen Minutes of the Asymmetrical Iron Condor
Production of the Asymmetrical Iron Condor course with Amy Meissner is nearly complete. Right now, SMB is giving you a chance to access the first 15 minutes of the course for free! In this video, you will learn what the AIC is all about. Discover the trade that Seth Freudberg is calling “the most robust iron condor trade I’ve ever … Read More
3 ideas to improve waiting for your trades
Yesterday I wrote about the #1 trading frustration of top traders on our prop desk. (#1 issue top traders want to fix in 2017 on our prop desk.) Today let’s offer 3 ideas to solve this frustration: 1. Journal your progress on waiting for setups. When are you successful waiting for setups? When are you early to enter and why? … Read More