I am a process guy. It’s the stuff that goes into getting results that is much more important to me and as a result our prop trading desk at SMB Capital. I love to see our guys do the right things. And the past two days have been examples of our traders doing the little things necessary to trade successfully.
Each AM our prop trading desk meets in our conference to discuss the stocks in play. And Steve, my partner, will offer his advice on the market and the stocks discussed. Steve said something that should be repeated during yesterday’s AM meeting: “You never know when the market will offer you easy money. It is great to see all of you here today. Many might have taken off for the long holiday. Sometimes you just have to sit in your seat.”
It is not a coincidence that many of our new traders killed it the last two trading days. It would have been so easy for them to take off early for a really long weekend. They didn’t. They came to trade, they prepared, and the market offered great trading opportunities in CHK, HK, AET, the coals stocks, the XLE, etc. The last two days were just easy trading days. Our traders sat in their seat. And many had their best trading days.
These little things can make all the difference. Now a bunch of new traders on our desk have more confidence, have seen how easy the market can be, and have a few days to build on heading into earnings season. Why? They sat in their seat.