One of the great rewards from writing One Good Trade are the positive unintended consequences. One of those is how much the book has helped traders other than equities day traders. Let me offer two examples. Today at lunch, I sat with an income options trader, who shared his trading breakthrough was reading One Good Trade. This trader had … Read More
A trader struggles with added risk
Here is an anecdote from our proprietary trading desk in NYC. A consistently profitable trader (CPT) shot me an email this week to chat about struggling with a recent bump in share size and risk. He felt he had taken a step back with his trading after being given the opportunity by the firm to take a few steps forward … Read More
A loud coaching session on the desk
Yesterday we had a loud, unscheduled coaching session with the newest traders on our desk. There were raised voices and language not suitable for network TV. By my count this was the third time these newest traders did not meet an acceptable level of AM preparation. I am not suggesting they did not prepare. I am not suggesting they did … Read More
A solution to improve your patience as a trader
Dr. Brett Steenbarger, the Coach K of trading coaches, generously visited our firm today and spoke with our traders. I asked him to tackle four issues during his discussion: I want to take my trading to the next level If I could just wait for my setups If I could just stop taking lesser trades Define the competitive trader I … Read More
Unleashing Potential: Empowering Traders through Desk Training
Yesterday a 30 year market veteran, who has been a part of our trading community for years, stopped by to visit. He has been struggling with his trading and felt something was just missing. He wasn’t sure exactly what. His visit and our discussion about his struggles became so interesting to me. This retail, developing trader was struggling with the … Read More
Taking your trading to the next level
In a daily trader review or monthly trader review, often I find the words: “to take my trading to the next level.” Traders wish to take their trading to the next level. It’s almost like we could start a cult: Next Level Trading. The desire is there for most traders. The question is the how. Most traders focus on trading … Read More
Why join a prop desk?
On my blog for Yahoo Finance Contributor, The Trading Coach, there is an Ask Anything option. One reader asked: What are the advantages of trading prop? We are a proprietary trading desk in NYC, trading stocks, options, futures, and automated trading. The firm, powered by Kershner Trading Group, provides capital, training, coaching and mentoring, technology and assumes all risk. … Read More
5 Lessons from the Prop Desk
I was grateful to be asked by my friend, JC Parets (@allstarcharts), to present at Chart Summitt 2017. My mandate? Share 5 lessons from the prop desk. As always, I love to include anecdotes from traders succeeding on our desk to teach. And I did so again here in this online presentation. My 5 lessons from the prop desk were: … Read More