Almost five years ago two of the better traders ever trained by SMB asked for risk with longer term positions. We loved these guys and had all the confidence in their trading ability. After a period of huge gains the firm had had a particularly bad month and these two traders were not trading their intraday accounts well. Bad timing … Read More
It’s Okay to Get Upset While You Are Trading
So Dr. Menaker indicates if we can become self aware of our emotions we are much more likely to be able to control our actions/behavior and therefore minimize our mistakes. That made perfect sense but I wondered if a consistently profitable trader goes through the same emotions that the “less than” CPT goes through? Aren’t you and Steve simply much more confident than less successful traders? … Read More
The Reality of Trading
I thought today was probably my worst trading day of the year. It wasn’t about losing thousands of dollars. It was about my performance relative to the setups I had outlined prior to the market open and the ones identified intra-day. The largest error was in my $TSLA trading which I will outline below. I was in two other stocks … Read More
How The Financial Media Entertainment Complex Is Harming Your Trading
One of our traders wrote this in his trade review last night. It helps us highlight an important teaching point about trading. Daily Review: Overall a decent day but I do get frustrated too much. I get most frustrated when I have the right ideas but fail to capitalize on them whether it is from getting a poor price or … Read More
10 Tips For When You First Go Live
Hey Bella, This is [name deleted]. I was in the summer training program at SMB. I’m going live tomorrow and was wondering if you could give me some basic tips for me to think about. I’ve been following SMB on Real Time, watching the morning meetings, and training every day since the summer on the ThinkorSwim simulation platform. I know how different … Read More
How Are You Improving Each Day as a Trader?
Before the Open we hold an SMB AM Meeting to discuss the most promising stock patterns of the day. During the intraday we share the best stock patterns with our desk with SMB Real Time. The SMB Radar is a tool we built that scans for our favorite stock patterns. During the midday we discuss trade patterns with our new … Read More
S&P 500 Where is the Top?
The S&P has recently come off all time highs. What bullish and/or bearish scenarios are possible this week? — Marc Principato, CMT, Risk Disclaimer *No Relevant Positions
How Focusing on Doing the Right Thing Helped This Trader
As a trader our job is to do the right thing. Below is an example of a developing trader who saw improvement by embracing this mindset. Bella, Since today was the last trading day of the month, I decided to briefly explain my progress during October. I took a lot of notes during this month, and found some bad habits … Read More