How this Senior Trader Became a Consistently Profitable Trader (so you can too)

In this video, learn how a Senior Trader from our trading firm became a Consistently Profitable Trader (so you can too). Learn the path a now Senior Trader took to become consistently profitable. Let’s get to work on sharing these important trading lessons (they are as good as gold!) so you can grow your trading account.

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in this video learn how a senior trader
from our trading firm became a
consistently
profitable trader so you can too hi i’m
mike bella fury co-founder of sme
capital and we’re a proprietary trading
firm located in midtown manhattan
and i’m also the author of the trading
classic one good trade and the playbook
click our subscribe button so you don’t
miss any of the videos they’re producing
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in the trading community in this video
learn the path and now senior trader
took to become
a consistently profitable trader let’s
get to work
on sharing these important trading
lessons they’re as good as gold
so you can grow your trading account
good afternoon everyone
so i’m ryan a senior trade at smb ktg
and in this presentation we’re going to
go the step-by-step really how i became
a consistently
profitable trader so from the beginning
to when i just started
to some challenges that i faced
um to when things started to uptick and
then when finally
i achieved um consistency and
profitability so the reason why
and how this presentation came about is
i tweeted
just over a week ago after i received a
lot of questions regarding consistency
and the learning curve
and you can see my tweet there i said
the following i said it took me
over a year until i was consistently
profitable then came sizing up and
refining
no huge home runs just improving and
growing one percent each day
and allowing things to compound and this
is my equity curve
which i was happy to share and you can
see
up until july 17 through to august
august october there wasn’t much going
on that was
experimenting that was the learning
curve
trading with small size and then finally
one
finds their niche as i did and that’s
when
i placed most emphasis and focus on what
showed me promise in the beginning
and that’s when i started to refine
adapt
further my knowledge in that niche and
size up and you know later
on and especially this year this is when
things have really
started to compound and i also wanted to
include this because it just really
summarizes
um what i’m going to be speaking about
in three small paragraphs
number one where did it start i hate
losing
and that’s why i don’t necessarily go
for those huge home runs and those big
drawdowns
and early in my career i decided i
wanted to cut out
everything that wasn’t working and only
trade what was
and once i was consistently profitable
only then
did i focus on expanding my stock
selection
and playbook two there’s no shortcut to
trading
you have to put in your ten thousand
hours and tree trading like it’s your
own mini business
you want to achieve consistency with
certain strategy
type of stocks and then only then look
to add
another strategy to your business
another stream of income and revenue
that leverages your current skills and
it’s a process and it takes time
and lastly collaborate and learn from
people who are doing what you aim to do
be open-minded twitter’s a really great
resource and and for those of you at the
firm
who are lucky to be there don’t be
afraid to ask questions
um you’re surrounded by people that want
to do
um that are doing what you want to do so
take advantage of that and twitter again
it’s flooded with successful traders and
coaches who share free
valuable advice and lessons so take
advantage of that
and lastly if i hadn’t received the
mentoring and been open-minded and asked
questions
i wouldn’t be trading today you
mentioned that you hate losing
so there’s different ways to interpret
that you might
there are some traders who really don’t
like having too many negative days
and they need to craft their trading
so they don’t have many negative days
there are people that are just super
competitive and what they mean by i hate
losing
means they really just don’t like losing
at anything
can you clarify what you mean
by you hate losing so in the beginning i
i hated losing because i was competing
with myself
and so whenever i would have a bad day
it was because i i i hadn’t
prepared well enough in order to manage
my risk or my loss
or i didn’t know how to trade what i was
trading
um the best that i could be and so
that’s why i decided to focus on
only on what showed me some success
glimpses of success in the beginning and
take out some of the other plays
and potential playbooks that i was
working on at the time because
i was competing with myself and i didn’t
like trading the unknown
if i could if i could put it that way if
you want to learn three
real world setups that our traders use
including the simple setup that we teach
all of our new traders and the setup
that turned one of our traders into a
seven figure
big money earner check out the free
webinar that we’re currently running
just go ahead and click the link that
should be appearing right now at the top
right hand corner of your screen
that’s going to open up this free
registration page in the new window
so don’t worry you’re not going to lose
this video you’re going to learn more
in a couple of hours from this trading
workshop than from
years of online education in the
beginning when i first joined the firm
and and the trading world
full-time i came in to the firm on day
one and i assumed i knew nothing
um i wanted to learn from those who were
already doing it and had achieved what
what i was what i was looking to do
um the reason i did that is because
i didn’t want to come with you know
pre-assumptions and and come with the
strategy
um and and look to expand on that i
wanted to rather
take snippets from xyz trader
um who was already doing it and had
had the right habits and processes and
disciplines
um and i wanted to start fresh and and
get each
step correct along the way failure
wasn’t an option
if someone else was doing it then so
could i that’s what i told myself
every day especially during the tough
days
and and the downs as you experience in
your first year
just hang in there because if someone
else has done it then so could you and
so could i
you have to be determined resilient and
persistent
i noticed that those who assumed they
knew everything in the beginning were
the ones that often did not make it
um you have to be open-minded i think
that’s
um i mean i i couldn’t be more more
um place more emphasis on that open
open-mindedness is a trait that i see
all of the great traders at the firm um
they
place so much emphasis on that in their
trading and their processes
manage expectations it’s very easy when
you first start trading
and especially with the trading
community and seeing large numbers out
there to
want to be the one that comes in and and
hits the ball out the park
in your first year um that’s not
managing expectations rather you want to
understand that there’s a learning curve
and the learning curve
is real it’s not a nine to five job you
need to put in the hours just like an
athlete would
if you want to make it and be part of
the you know 10
that make it as successful traders and
so managing expectations is super
important and it’s
in fact the one of the first things that
my mentor said
when i joined his team
develop the right habits process and
routine
that in itself could be a full
presentation
it is super important and i know dr s
and bella
have a lot of material online where you
can dig a little bit deeper into that
focus on laying the groundwork for a
solid foundation
that is everything i’ve already
mentioned above as well
as technicals and fundamentals and the
tape and recording your screen
and putting in the hours so that you
have a solid foundation
and don’t be afraid to ask questions
often when you’re starting out it can be
quite intimidating
to get in touch with um successful
traders that have been around for a long
time but
they’re also once junior traders or or
new traders just starting out and they
did the same thing
so don’t be afraid to ask questions it’s
the best way to learn it’s the quickest
way to learn
and definitely pick brain the brains of
traders that are doing what you want to
do ryan can i dig deeper on
one important point you made here so
you’re very close with shark and wrath
two huge traders now
how do you as you’re coming up the curve
you’re a competitive person you want to
be
a terrific trader when you’re seeing
them have huge days
when you were seeing them have bigger
days than you
how do you get yourself to focus on
what you need to do to develop
for your career and not lament that
you’re not making as much as
them it’s a great question
what i do and and i’d say what i did
two years ago when when when i really
started to
get a bit closer with both of them is
when we would trade the same stock
and of course trade it differently
because we’re all
different traders i would first want to
understand
why they got as big as they did
in certain spots what they saw that i
perhaps didn’t
and that was step one is is their
thought process behind a trade because i
may have seen that trade as a b
trade they saw it as an a trade for
reasons that i
did not even think of at the time and so
first step was understanding their
thought process and then understanding
how they manage their size and their
trade going forward
and in order to to get
closer to their size and the success
they have in
these trades for example it’s
speaking to them and speaking to
yourself and dr
s and coming up with a process that
suits me
as a person and a trader to responsibly
size up and so that’s something i’m
working on now
and something i’ve spoken with shock and
rap
about is differentiating between
your b traits that show up each day and
your a plus trades and so
that looks something like identifying
trade xyz and those three trades of the
month were
the standout trades and on those trades
one um should be risking
30 or 40 more risk for example than you
were on your b
plus trades and it’s it’s going over
that it’s visualizing it and it’s just
it’s really just knocking it into your
head and you know the first two times
uh you you’ll experience some speed
bumps um but it’s repetition
and it’s training your mind to think
that way so that when you see it on the
screen when you’re anticipating a trade
for one or two or three days
you’re able to to hit the button and hit
the size
when that trade plays out and that’s
something that they do extremely well
they’ve trained themselves to do it and
it’s something that i’m
beginning to do and and showing some
promise in but it
it takes time and so it’s that
it’s that mindset and that mind shift um
and that’s something that they’ve
achieved
um and i think all traders would like to
achieve that
and to go into some challenges that i
experienced
when i first started ready the first
year and a half two years
first of all you know it goes without
saying but if trading was easy
everyone everyone would be doing it um
so you need to understand that it is
tough
and that like i already mentioned it
requires a lot of time
and perseverance and dedication it’s
like learning to work
to walk first you crawl then you fall
it’s like learning a new language
and a challenge that i experienced is
when you spend hours days
weeks weekends working on a strategy
that shows promise
only you find that there is no edge it
can be quite disheartening
and so when you first do that when you
start trading
you may find a particular setup that you
like you may back
test it you may forward test it only to
find that it just worked for that week
and
you got lucky for lack of a a better
better word um it’s very important to to
to put your ego aside immediately and
get back to work and try something else
you don’t want to dwell on failures with
trading everyone’s going to fail you
just want to get up
and move on losses are part of the game
don’t let them discourage you let them
motivate you
i struggled with that too in the
beginning uh i i was
in a sense afraid of losses it would
discourage me
and it’s about training yourself and
your inner coach
to let them rather motivate you and
that’s the next point train your inner
voice to be your inner coach how you
talk to yourself matters and it matters
immensely when you’re in a trade that
does not work well are you going to beat
yourself
up with that little voice in your head
are you rather going to be proactive and
say well
you know next time perhaps i shouldn’t
do x i should do y
or next time i should go in with half
the size until i get further
confirmation and it’s about being
constructive and proactive in real time
that in itself will speed up the
learning curve you want to set
realistic goals in the beginning you’d
only set yourself up
for failure
again the learning curve is real and you
will likely
need to make sacrifices while you are in
the development phase so that may mean
less recreational time on the weekends
you want to spend more time behind the
screens and in the office to speed up
the learning curve
and you can’t copy a successful trader
that kind of goes in with the trading
were easy everyone would do it
everyone is is unique in their own way
and i think so is trading
and you really need to find your own
niche as we all are different um
guys at the firm we all trade the same
stocks but we all trade them
quite differently in terms of time
frames hold time
entries and exits how we take profits
and that’s because we’re all different
people
and we see it a little bit differently
sizing up is a challenge
when you see bigger numbers bigger
winners bigger losers on a screen it is
challenging especially when you get
comfortable with a certain size
what it takes is for you to coach
yourself with that inner voice as well
as
good mentoring a good coach a good
mentor to remind you and and what helped
for me specifically was to remind me
why i’m doing this i’m doing it to be
successful i know i can be
to have a growth mindset
trading definitely can consume your
thoughts especially if you’re performing
poorly it’s easy to beat yourself up
over it
and so that’s why it’s so important to
devote some time
towards your friends relationships your
health hobbies
and interests and this is something can
i follow up on
one thing you said which i find
fascinating
so and it relates back to
how close you are to wrath
and to shark and raph and shark
are either have either surpassed
eight figures this year or are knocking
on the door of it
and if anyone’s knocking on the door of
it certainly
they’re gonna do it so you have these
two
eight figure traders uh in a year
and you are as close to them as anyone
and you can see
their trades in real time
and you can talk to them in real time
what do you mean you just can’t copy
them and
when you explain that all right so
why you can’t copy them but but what can
you
extract from them that’s super important
for example
i think it’s super important for someone
like yourself to see the setups
and the trades that these guys are
taking and for you to be able to
understand the variables that go into
them for example i think it’s
super important for you to be able to
see that it’s possible to make as much
money as they do i think it’s important
for you to be able to talk to them about
why they’re getting into trades and why
they’re managing the trades
the way that they are and then you take
that information
and you figure out the type of trading
that you can do
and you craft it into the type of
trading
that you’re going to be successful with
for example
you may be able to get in the same trade
as wrath
but you may not be able to hold it as
long as he does
but you could create some trades that
really really work for you
for example you may not want to trade
a short setup the same way that shark
does but you may want to take the same
trade
you may want to take the same direction
you just may want to
get in and get out differently
but i’d love to hear how that experience
being around those two guys was for you
well it’s actually interesting and it’s
something i’ve spoken to them about
quite a bit
um and in term in terms of copying them
it’s it’s and and the size that they put
on again it goes back to the point of
it’s all a process
and when i speak to to wrath and and
shagai i was reminiscing with them
quite a bit um and i was talking to them
about how when i joined
four and a half years ago what i was
seeing uh
them doing the numbers that they put up
versus what
they’re achieving now um and they
they both you know said to me obviously
you want to have that growth mindset and
keep pushing yourself but
it’s very easy to see someone put up
these big numbers and
and focus on that um especially if
you’re someone from
from the outside and you’re not you know
close with them
but you often one can often forget the
the last
four and a half years that they’ve had
and how each year progressively and
incrementally they’ve
improved each day and so that’s what
they
and swang too really reiterate all the
time is focus
each day each month each quarter each
half each year
on improving on the previous year and if
you keep showing that consistency and
profitability
you will achieve what we have this year
but in two three four five years time
just as we did because it took
it took them time too and so they they
and it’s amazing because at the level
that they’re at they still
discuss and place emphasis on on the
basics and that’s the process
and the habits and the rules to have
each day and naturally
you will size up over time next point
understand
what sets you off what may put you on
told for example
if i got a per night’s sleep if i was
um competitive in a friendly manner with
someone else for example and
and they perhaps did better than me and
i felt like i had a point to prove now
on
on a particular trade if i missed a meal
if i had an argument with a girlfriend
understand what sets you off and
and and identify and understand the
feeling that
comes within when you’re kind of going
on tilt or a little bit
on edge behind the screens and and and
try and
and try and cut that off before it
affects how you train in your trade
management
for the day trading is not about being
right or wrong
put your ego aside and focus only on
positive
risk reward setups if you’re going
through a slump
size down and put up some green days
rebuild your confidence it’s so
important to do that don’t look to
bounce back
after a slump if a slump for you is one
per week or one per month or three bad
days
everyone’s different but people want to
bounce back immediately and they want to
make it all back it’s very important to
size down put up some green days
and rebuild your confidence
in the beginning don’t focus on the
money focus only on developing the right
habits
processes rules and disciplines and the
money will come later
so when i first started trading
first step is you need to and i needed
to discover who i was as a trader was i
going to be a swing trader a scalper
a momo trader higher time frame short
time frame
i just didn’t know i had no idea i
wanted the stats
to and specifically using trader view to
objectively
answer this for me
so in the beginning when i just started
and just went live
i traded large caps earnings breaking
news i traded small
caps on press releases
in play names low orval high arvol
otc stocks i traded everything
long short but i traded with very very
small size
and the reason i did this is um
you know great coaching and mentoring
from shock he said look in the beginning
you’re going to lose money you’re then
going to lose less you’ll then break
even
you’ll make a little bit and then you’ll
grow and things will compound
so when you first start trading
experiment but trade with small small
size
because you don’t know what you’re doing
and i really respected that because in a
sense he was looking out for me and
he knew that when i finally got it i
didn’t want to start off in a big hole
and so during during that time i would
say around
you know that six month experimenting
trying everything phase
i would just record my screen every day
and every afternoon every evening
every weekend without fail i would play
it back i would watch the tape
to of course speed up the learning curve
and and deepen my understanding and also
to pick up on small nuances pockets of
liquidity what
what it looked like the stock looked
like up there why it failed up there
could i
could i identify a refresher on the
offer
i would also journal every day still do
um
it back then first i would say two years
definitely more in depth in terms of
playbooking every single evening
identifying the best traits i took
and the deskshock weekly reviews monthly
reviews
i also wanted to understand the
importance of multiple time frames and
how
the five six best traders at the time
incorporated that
into their trading a lot of traders bold
built stories behind a trade and they
want multiple time frames to align the
one minute the five minute the 15 the
hourly the daily chart
i also wanted to understand different
trading indicators that were being used
on the desk
again when i started i knew of the
fibonacci i knew of the moving averages
simple
ema um but i joined the desk and i
noticed that v-op really stood out and
the understanding and thought behind it
just
made total sense and so that’s what i
stuck that’s what i
stuck with i also wanted to know how
traders incorporated technology into
their trading
they’re hybrid traders they are fully
automated traders
and then they’ll traders that use
technology just to
really complement what they’re doing
and so seeing and understanding other
people’s niche
and trading personalities was a big
thing and then i wanted to see
what i resonated with what what felt
right and felt natural to me and and and
suited my
personality and so after six months of
training and experimenting i looked
through all of my stats
and i discovered my strengths and
weaknesses as a trader
and so after pouring through all of
those stats early on
they told me again objectively that i
was showing
promise trading lower price stocks and
in particular these were low floats
with higher orbital on the short side
i then went a little bit deep and i
wanted to know what time of day i was
performing
the best and now was during the open the
first hour and a half
and the last 30 minutes of the day the
close
so this information along with some
other insights was enough to go on in
the beginning
so i said to myself for the next six
months i’m only going to focus
on getting consistent and getting
developing
a deeper understanding for these stocks
the psychology behind the moves
what moves them up what moves them down
how v up can be used as a trading
indicator
just for trading these stocks sec
filings
the float the short interest and the
mechanics
and so that’s all i spent my time on for
the following six months
i also then leverage some of the
technology at the firm
to supplement and complement my focus
for the next six months i bought some
market screeners
filters watch lists identified the
setups which i perform best in and look
to expand on those playbooks in more
detail
i use technology as well every day
pre-market during the day
to alert me to more of those specific
setups
and i ensured i was using the best auto
routes and hotkeys
the layout for speed rebates and falls
so really after discovering what showed
promise early on i then wanted to arm
myself and give myself the best
possible chance to get consistent
and create that first stream of income
as a trader
and so the goal i said was you know the
next six months that’s that that’s what
i wanted to achieve
hey ryan let me get your feedback on
something what i’m hearing from you
for a path to being consistently
profitable
is hey let’s build a foundation
second let’s experiment with different
types of setups and trades
third let’s try and be consistent
in our niche and so
i would imagine there are some who
eventually will watch this that will say
all right it’s going to take me some
time got it
when i’m building my foundation since
it’s going to take me some time to make
money i can coast
when i’m experimenting with different
setups since i don’t know
which ones i’m actually going to be good
at i can coast
then when i start to work on
my consistency in my niche
i can still coast because i’m not really
going to be trading that much size yet
but i’ll be a little bit more intense
having watched you grow i would suggest
that you weren’t
very intense during each of those stages
absolutely very very intense
no no is more important than than the
other they’re all equally important and
and they have to be
um you you just can’t slack at all
because with trading
really what you put in is what you’re
going to get out and so if you do coast
if you
if you take some time off and and
and it’s just it’s going to take time so
i’ll just kind of roll with it then
it’s it’s it just won’t work if you put
in
all the time and all the effort maybe
there are a few exceptions around the
world
and if you put in as much time as i did
then it’s one year one and a half years
but
that is going all in uh you need you
need to be all in
so to carry on with that and i included
this showing something because it has to
or you think it will go lower is
different than shorting when you have
confirmation
for example lower high break below view
up and and the has to or you think is is
you know those are words and and
language that that you want to be
careful of
in your trading early on um a stock
doesn’t have to do
do anything and it’s just important to
remember that and if you have no edge
one day or you don’t see your setups
um in a day then you don’t need to trade
again you treating you got to treat
trading like
it’s your business your small business
hopefully a large business
one day and so you want to treat it with
that respect
and so when that would happen to me um i
would either size down if i thought it
was a subpar
b ish setup or i just wouldn’t trade i
would focus on technology i would focus
on building out
more in-depth playbooks just as examples
risk management risk management risk
management if a trade
wouldn’t work if my gut told me it would
not
work um then i would get out because i
could always get back in
and sometimes you don’t have to wait to
get stopped out and so
that’s something that i saw some of the
senior traders doing
um in kind of the my first
year um you know they would say i’m
wrong
at um three dollars i’m shorting it at
275 but they would see something on the
tape or the
the trade didn’t work as quickly as they
thought they
it should have and so they would just
get out because you can always get back
in
um listen to the stock respect the price
action price action is king
and if you pick up on a small nuance
then you don’t always have to get
stopped out because you can always get
back in
and and if you listen to your gut which
is usually right
it could save you quite a bit of money
i would initially enter with more size
and this is something i did
in order to size up a little bit quicker
as it was a challenge for me
initially i sized entered with more size
and as the trade worked i would take
that extra size
off so in doing so i would cover some
risk and lock in some profit
and i’d hold the rest as planned really
until i had a reason to exit
or the target was reached and so
entering
with more size than perhaps you’re
comfortable with
could be a strategy that may help
and come to fruition and pay fruition
in the future just something to think
about that’s something that worked for
me
i only wanted to make superior risk
world trades in the beginning
so now that i have more stats sometimes
i’ll take one and a half to one rescore
trades because i know that that trade
has a higher probability of working for
example
uh 80 plus percent probability of
working but in the beginning i didn’t
have those stats
to back it up and so i would only look
for the three to one
um really minimum risk reward
i also collaborated collaborated with
traders at the firm
who were successful in trading these
stocks that alone will speed up the
learning code
i followed people on twitter who were
successful and had knowledge of these
stocks i asked them
questions i looked at all major runners
in the last two years and i studied
their moves
the technicals and the fundamentals of
each one
and then i began sizing up and the goal
was now to make a living
from trading low floats again my first
stream of
income as a trader
so achieving consistency so by the end
of 17
i was conceiving i was achieving
consistency in my trading
and that’s when when when my mentor said
to me all right now we can really size
you up because you’ve earned it
you’ve proved that you know how to trade
it’s no longer
gambling or experimenting you are
running a successful
mini business and now we can size you up
so each day i would ask myself
um and i would review in real time at
the end of the day while i was trying to
size up
where could i have made more where could
i have been bigger
and sizing up is challenging for some so
i decided the way i would do it
is i would risk a percent of my stop on
particular trades
and therefore as my size as my risk
increased
the percent of risk would always stay
the same so if you go from
um for example a thousand dollars of
risk to two thousand dollars of risk
but you’re risking the same percent then
it just stays the same percent and
and things really happen naturally and
and that’s just a little mind game i
play with myself but it helps
i also removed pnl from my screen and i
replaced it with cents per share up or
down in the trade
um therefore i just you know i don’t
trade my p
l um of course you can work it out it’s
another little
trick to play with yourself but it works
for me and i see a lot of other traders
do this too
collaborate with other traders they have
already been through everything
that you are going through they have
experienced the challenges the ups and
the downs
and so collaborate with them if you have
ideas contribute with those traders and
they’ll be happy
to share even more information with you
again while i was achieving my
consistency then i began expanding my
playbooks which now include
long setups short swing setups and
through 18
to now i constantly bold review and
explain my
my playbooks which really now includes
all types of stocks and strategies from
short or long small caps to otc long or
short to large caps
earnings breaking news breakouts on in
terms of technical breakouts imbalances
marketplace just to name a few
but again you want to focus in the
beginning on
i wouldn’t say perfecting because as a
trader you’re always adapting and
changing but
focusing on one niche and use those
skills developed on that one niche
leverage them to something
that applies so from from shorting low
floats to shorting
over extended ipos
and leverage those skills and shorting
reading the tape
and constantly add a new stream over
time
just to end off some of the books that
that i already
loved and still read um in the beginning
it helped a lot
these are them one that was actually
gifted to me by bella which
probably one of my favorite books now if
not my favorite is atomic habits by
james clear
reminiscences of a stock operator it’s
just brilliant market wizards
one good trade in the playbook shots can
help you in the stock market great book
just for identifying
different child setups bull flags bear
flags etc
all of dr steinbarger’s books must read
chat with traders podcasts trading in
the zone and think and grow rich
when you begin finding your consistency
in profitability that’s a book that can
really
help you coach yourself your inner voice
your mindset
to think bigger and and really visualize
yourself as that successful
trader so you’ve been through it all now
in terms of going from new trader
to consistently profitable trader and
sizing up from there
what was i’m sure you had some
preconceived notions about
how long it would take and how hard it
might be
looking back
at your start now and your journey now
what was the most surprising thing to
you
that was the hardest thing
for you and becoming consistently
profitable
well that’s a tough question and and
one i haven’t thought too much about in
the past
um to start off with i did not think
trading
was going to be as challenging as
and difficult as it was in the beginning
um
i had no idea and i also didn’t i would
say the biggest challenges
and something that’s turned into a
strength is
how important psychology
is in trading with yourself with what
moves stocks
that was something i underestimated
completely
and the third one i’d say is sizing up
that that has been my biggest challenge
sizing up i never thought it would be as
difficult as it was
um again psychology plays into that
but that was definitely a big challenge
and still is because
you know as traders we’re always growing
and we always want to be bigger and more
successful
um but certainly in the beginning that
was
the biggest challenge do you ever think
about
why sizing is
particularly challenging for you do you
ever think about
maybe your childhood
your earlier years
just some innate skills about yourself
some innate personality traits
that causes
sizing up to be a touch more difficult
for you
definitely i think naturally i’m quite
a conservative person when it comes to
risk and so i mean that’s why with my p
l curve it’s it’s kind of straight up
because i
manage my risk very well but on the flip
side of that comes
taking larger risk and with that
obviously could come
larger losses and so in terms of my
you know growing up i don’t know how
where that stems from
but um definitely
has something quite important to do with
it um
you know there’s there’s obviously fear
involved of
going in big on a particular trade it’s
not working
and seeing that three four five times
larger than usual loss on the screen
which is just
you know a scary thought but having been
through it
um and and it’s it’s part of
growth and it’s part of consistency um
you have to feel that pain
um but coming into into trading i was
very conservative and i think that is
why it took quite some time for me to
size up
until i had experienced those three or
four or five
big losses come to terms with it felt
the pain
you’re like like you said to me the one
day you know it’s
about two years ago you experienced that
loss it’s good when you wake up the
world’s still gonna be here you’re still
gonna be here
you’re still going to be able to trade
because i was just scared of taking
those big losses
um but it was vital um
in order to grow and become the trader
that i am now
i remember that i also would i also
appreciate
that i i would suggest that you’re also
very diligent
and responsible and that is that is a
those are positives on your personality
which lend to you being
careful and responsible with firm
capital
uh and not everybody at the firm is like
that
we had a conversation with the trainer
the other day
who carlton and i had a chat with our
floor manager and i had a chat with who
had run into an unfortunate
six-figure loss and it was unfortunate
and it wasn’t
the trade was was fine maybe the sizing
was a little bit big
but the trader part of the strength
maybe to the trader was
he wasn’t in any way frazzled by the
loss at all
um and that was a little surprising to
me
but the negative side maybe to that is
that
you know maybe he could have been more
diligent and choosing a sizing
which would have kept them out of that
that situation so
good for us to recognize what our
personality traits are and where we come
from i was just saying it’s interesting
because for that trade and i’m pretty
sure i
i know he’s speaking up but that’s
besides the point well that trade of
that loss
has almost become um like when you first
start out and you take a big loss five
low
five figure loss and
and that’s probably what it feels like
for him now where it’s it’s fine i’ll
tomorrow i’ll bounce i’ll bounce back or
you know it’s i will i will actually say
it isn’t the trader that you’re thinking
of
and it’s a different trader that trader
can handle
those losses exactly one year thinking
of that trader is fine taking those type
of losses this was somebody
perhaps in a in a different income
bracket
than the trade you’re thinking of
yeah you can but but the point i was
making is that you know two years ago
the the lost that for example when we
had that discussion
about um is now just a regular
if i have a red day in a week that’s
sort of the regular red day that i’ll
have and it’s
you almost become numb to those numbers
over time as you continue to grow
um and so it’s just it’s quite
fascinating how that
how that all works from a psychological
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