Happy New Year! Here our ten trading resolutions I wish for you in 2016! 1. I will try to improve each day and stop trying to make money. 2. I will study my trading edge and build from my strengths. 3. I will improve my fitness as this impacts my trading PnL. 4. I will be grateful each day for … Read More
Damn right we talkin about practice!
I had an informative phone chat with a counterpart of mine at a large international prop firm. They house thousands of traders globally. They, like us, back all of their traders. They, like us, have their own proprietary trading technology that only firm traders can use. They, like us, trade many different products. He, like me, trains all of the … Read More
Questions to ask yourself after a trading loss
Yesterday I was trading a stock with a negative news catalyst that was below an important longer term technical support level and intraday VWAP, got short, and took a loss. I would make the trade again. After taking a loss consider whether you would take the trade again. Here are the questions I asked myself: 1) Did I have an … Read More
The unique trader
We as a firm were studying our top five traders this week. Each of them trade a very different style. Said another way, each of them is unique. One is a scalper. Another trades momentum. Another is an inefficiency trader. Another is an arbitrage trader. Still another trades low floats. What is more interesting is that each of them trades … Read More
This is your trading business
We teach a class, SMB DNA, and a student asked this question about the chart above from this class: As you can see from the chart, after price broke above 238.40 and traded above it, price tested and rebounded from the level 4 times. It seems to me that this suggests the level is significant intraday as well. The 3rd … Read More
Buying A Market Pull Back–Part II
In Part I I discussed how I put on the breaks on a planned buy in the SPY on 12/11 when price action lowered the probability of a market bounce. This put me in a much better position to play for a bounce on Monday December 14th. Here is a screenshot of my pre-market game plan where I share my … Read More
Not Losing is Winning Too
In our SMBU Daily Video, Mike Bellafiore shares an anecdote where he won by not losing. Developing traders often want to win and win everyday. Mike explains how you can win some trading sessions by not losing. Trade Well – SMBU Team *no relevant positions
What It Takes to Become a Good Trader
In our SMBU Daily Video, Mike Bellafiore answers what it takes to become a good trader. Good traders don’t make excuses Embrace the results of your trading Bad traders blame outside forces We hope this video helps you improve your trading skills. – SMBU Team *no relevant positions