During a group meeting with our newest traders we discussed a Double Bottom in Valeant (stock symbol VRX), that triggered a buy from a new trader on our desk. Newb: I saw VRX holding near 62, so I got long. Me: Where was your stop? Newb: 61.90 Me: So you got stopped out? Newb: No Ok so now we have … Read More
What troubles me about this trader
I had a conversation with a new trader today and shared my observations of his trading career. Here is what I liked: He has the ability. He possesses the ability to process information quickly. He has the ability to make fast decisions. This was clear during his firm interview and persists after his start. He has an outsized interest in … Read More
Trade Review–JCP WTW SUNE SPLK BBY
Every day we hold a pre-market meeting where we discuss the best risk to reward trading setups for the day. The trades fall into 3 categories: Stocks with a fresh news catalyst, “Second Day Plays” that had a catalyst the prior day, and finally “technical setups”. I’ve marked up some charts for five trades I made. 4/5 had a fresh … Read More
Unlocking Trading Success: The Formula for Profitable Trades
Yesterday I presented at the TradersExpo in NYC: A study of 5 successful traders from our desk. (Above is a picture of me, chatting with traders after my talk.) It’s important to study traders who have succeeded and learn from them as a trader and firm. The successful traders provide inspiration for those striving and best practices to copy. We … Read More
Andrew’s Strategy Set Theory
In this video Andrew Falde looks at combining diversified strategies in different asset classes to create a portfolio equity curve that is reliable and smooth. This strategy set will be an on-going update. * no relevant positions
A day in the life of a professional trader
Yesterday our education division, SMBU, held a webinar: A day in the life of a trader. The purpose was to share best practices for traders to turn into habit so they trade better. If traders do all the things necessary to improve, then they can improve. As I give this presentation, I have an internal conversation with myself. I really … Read More
Die Hard starts winning again
Die Hard is a senior trader who makes a ton of PnL. Unfortunately for him and our firm, he also loses a ton of PnL. This is actually a good problem to have for the trader willing to review and work. Many experienced traders aren’t willing to journal and review and adapt. They want to just keep hitting the buttons … Read More
SMB will be presenting at the Traders Expo New York
Mike Bellafiore will be speaking at the TradersExpo Tuesday, February 23, 2016, 2:30pm-3:30pm at the Marriot Marquis Hotel in New York City. His Topic: A Study of 5 Successful Professional Traders During this discussion you will learn: • How 5 of the best traders at SMB went from zero to High Performing Trader • The 5 best practices that made … Read More