I am really excited to be taking the Master Class taught by Dr. Brett Steenbarger, trading coach, this Sunday at The TradersExpo NYC. Our culture at SMB is simple: improve every day. That starts with me and continues through all, including the newest of newbs. I was privileged to see an outline of the Master Class and provide feedback, which … 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
Why Do You Trade? (Dr. Brett Steenbarger)
In a recent post, Mike Bellafiore raised the important question of “Why Do You Trade?” In that post, Dr. Jonathan Katz pointed out that the motivation to make money is often not sufficient to sustain traders. He explains that, “People need to continually find new challenges in what they do and pursue.” This is a great topic, because it separates those … Read More
Traders Ask: Should I Have a Max Give-Back Rule?
Hey Bella, How is everything? I have a question for you. I have this one problem (amongst many others) that I am having a tough time overcoming. Whenever I make a few good trades on the open and I have a nice P&L for the day I sit there the rest of the day and force trades and give back … Read More
One Good Trade: The Prequel
“You have to have an idea of what you are going to do, but it should be a vague idea.” Pablo Picasso SMB Capital started as just an idea. “Hey what if we focused on building an elite training program for new traders. The markets are much more complicated than when we began,” pitched a future co-founder. Then two experienced … Read More
Book Review One Good Trade by Dr. Steenbarger @ Seeking Alpha
Dr. Steenbarger, author of the The Daily Trading Coach, reviews One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley Trading) in this article at Seeking Alpha. From Dr. Steenbarger: Prop trading firms have traditionally been quite secretive about what they do and how they do it. Mike has lifted that lid, offering a variety of lessons that … Read More
Do What You Do!
This week Roy Davis, Director of SMB Training, and I headed to the 92nd Street Y to listen to Dan Pink discuss his excellent, well-researched, thought-provoking new book on motivation in the workplace, Drive. Dan challenges our present management model by presenting new evidence why a motivational work environment should offer purpose, mastery, and autonomy (see awesome Dan Pink animated … Read More
Awesome Links of the Week
Wow! The iPad has already passed the Android in browsing traffic. I love mine! From consistently the best content provider for finance Henry Blodget of Business Insider, Is Facebook Once Again Overhyped? The best trading coach I know, Dr. Steenbarger- The Daily Trading Coach, shares his opinion of One Good Trade (Wiley). Is law school tuition in a bubble? Spend Thursday … Read More