Sharing Your Best Trading Set Ups

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A few months ago we were talking with Dr. Steenbarger about some improvements we could make to our training program. We decided, through his guidance, to add a new Tradecast, or review session, where we shared the best trading set ups from ALL of our traders with ALL of our traders. Well, why?


Isn’t it true that traders have to make trades their own?  If one trader shares his best set up with another won’t that endanger the trader getting the stock he needs? My P&L depends upon my trading. Why is it in my self-interest to share?

Yes traders must make each trade their own. However your best set ups do not need to originate from you. You can be exposed to another pattern from another trader and then decide for yourself whether this trade makes sense to you.

Sharing a pattern with another trader increases your trading opportunities rather than decreasing them. But Mike if I share a set up with another trader and there is only so much stock to get won’t that shut me out of some trades? Won’t that lead to that other trader with whom I shared a set up taking my stock on certain trades? No that is not what happens.

If you teach a new or developing trader a pattern that works best for you and then that pattern works for them, they will start looking for more of these patterns.  This other trader with whom you shared the set up will now start bringing trades to you. As a trader we improve by doing more of what we do well and with more size. Now by sharing you have increased your trading opportunities with increased information flow.

Your trading performance is not an individual activity. You need a great team to perform at your peak. Now that does not mean you must trade at a firm, but you do need a support team.  You need great technology support, and internally no expense is spared on data lag. You need partners to leverage your money. You need others to talk trading. You need a community where ideas are shared so your trading is not only your best ideas. Yes, your P&L is your own. But this number reflects the strength of your team.

Leverage the talent of your trading community so that you possess the most trading opportunities.  Sharing your best trading set ups is one large step in this direction.

You can be better tomorrow than you are today!

Mike Bellafiore

One Good Trade
The PlayBook

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