Fail, Win, and Then Fail Some More: The Path to Becoming a Winning Trader

Part II of our training program on our prop desk in NYC is Trader Development.  There is a lot of necessary and wonderful failing that goes on during Trader Development. During this process traders experiment with different setups that we highlight. There are trading strategies worth exploration that active traders use to win. We continually point them out daily during … Read More

Why this trader succeeded while most fail

Recently, I exchanged emails with a successful prop trader at a Tier 1 firm.  I have known him since he was deciding whether to pursue trading, while still in college.  We have kept in touch during his trading career.  He has become a *very* successful trader. I asked him to share his thoughts on why he became successful.  Here is … Read More

Options Traders that Don’t Fail Have This in Common

The data is in and the record is clear: Income traders who control the size of their losing trades are the long term winners. Having run our options trading desk at SMB since 2013 and having traded options income strategies for much longer… I can tell you that this simple truth proves itself over and over — on a regular basis. … Read More

Six Reasons Traders Fail That Most Traders Don’t Think About

1. Lack of direction. Traders often fail to establish clear goals and create plans to achieve those goals. When traders fail to develop complete business and trading plans before entering the market they are setting themselves up for failure. 2. Impatience. This occurs when traders try to accomplish too much too soon, or expect to get results far faster than is truly possible. … Read More