How to identify a large market move before it happens Ideas to spark real trading progress from the prop desk (an evening with Dr. Brett and Bella) The 4 keys to a junior prop firm trader profiting better than he ever has How to make larger profits from options hedges How to become a consistently profitable trader (like you deserve … Read More
Improve your trading this weekend with these educational videos – recap of the week of April 25, 2020
How to become a consistently profitable traders (like you deserve to be) The giant runaway of options trades in a highly volatile market How a junior trader profitably traded a Chinese company accused of fraud by Reading the Tape The explosive Second Day Play (trading strategy) Senior Trader presents 10 adjustments he made to spark his best month ever (so … Read More
Putting a Trade Together
Here is a checklist I use for developing an intra-day trade idea. If the answer to the first two items is YES then I continue down the list to develop a trading thesis. If NO then I don´t trade the stock. Identify if it has a strong catalyst–a strong catalyst often leads to heightened volatility (movement) which is necessary for … Read More
Some Answers on Risk/Reward, Stock Selection, and Time Frame
Hey Mr. Spencer. I was a participant in the SMB-U webinar on Tuesday morning and I have some clarifying questions I hope you could answer. 1. You discussed the importance of only trading securities with 1/5 risk reward. I understand the concept, but I’m not sure I understand how those levels are quantified. What I thought was being said was … Read More
The Black Shirt
There is a Green Shirt that hangs on the wall of our trading floor. You earn the Green Shirt for posting 1m net in trading profits. And then there is the Black Shirt. For that a firm trader must earn north of 2m in net profits. The firm challenged the trader above, a Black Shirt recipient for 2017, approximately 4 … Read More
5 Pillars of Trading Success
These five pillars will help your trading consistency, which should be your ultimate goal. Interestingly enough, the 5 pillars of trading success have nothing to do with the actual act of trading or even analyzing markets. They involve the work that goes into developing into a trader, as well as developing as a trader. The trades you end up making … Read More
Trade your PlayBook for improved consistency
I received this email from a trader: Hi Mike, Terrific piece yesterday on trader development. You have a wonderful way of clarifying things. Step 1. Build your playbook of trading ideas Step 2. Become consistent trading these plays. I have come across the word “consistent” more and more frequently but have never fully grasped just how important it is. Dr. … Read More
First comes…..next comes…..then comes……for the developing trader
Getting your priorities correct really helps shape the trading day for optimal progress. One trader with, with whom we are working, is coming along nicely. Firm is happy with his progress. Our sense is he has a real chance to become good. Our job is to help him set priorities. Is that to make money? Or is that something else? … Read More