Sometimes the best trades just come to you. Today was a perfect example in SUPN. During our 11AM mentoring session with our new class, we discussed this important trading lesson. Yes! we need to prepare before the open. Yes! we want to develop theses for trades. Yes! stock selection best for you is important before the market opens. But we … Read More
The real stop
A trader on the desk wrote this in his daily review: Took the train home with (redacted, Senior Trader at firm) today, we had a really good chat. Seeing how far he has come and how he views trades. Does Not trade price action so much. He focuses more on his overall idea and trades it loosely. Shorting rallies covering … Read More
How to improve your discipline as a trader
A new trader wrote this to me: Noob (trader here). Two months in with maybe a total of 3 days where I consistently followed my rules. Down about 2k thus far. I am questioning my ability to do this. Mainly because of my lack of discipline in following my rules. There is the old parable about the frog that asks … Read More
What are you going to do about it?
Last night a trader sent me a review from a very poor trading day. He wrote: Little mad at myself for not taking 2 of my best setups in UVE below 18 and HCI at 32. Had the alerts go off but didn’t take the trade, and those trades played out to perfection. It definitely got under my skin most … Read More
An anecdote from a developing trader on the prop desk- sizing
One of our developing traders is consistently profitable. Undeniably, he trades with edge. This is a great position to be in. But for some traders it is not sufficient. They are making money, but they are not making enough. And when you are sitting next to and behind 7-figure traders it is not enough. So this trader sought to trade … Read More
When you are trading too big
When are you trading too big? Recently, while heading outside for a trading break, a developing trader stopped me near the elevator. He gave me a progress report on a new strategy that he was running. I love it. It is unique. He has backtested the strategy and it has edge. No one else on the desk is trading it. … Read More
Is it me or the market I am trading?
Hi Bella! How are you? Probably you don’t remember me. My name is Andre and I am a Brazilian futures trader. We talked a few times in the past via email. I have read all of your books and others which you quote, like Brett Steenbarger. I am trading since 2009. I had great results in the past, especially in … Read More
I just need to eliminate my ehh trades
Last night, I was reading the review of one of our traders, Trader A, who wrote, “I just need to stick to my plays that make me money (ETRM, TWTO, GLYC) and just faze out those ehhh ehh trades, I will become very consistent and very profitable.” To Trader A, I responded, ” When u say get rid of ehh … Read More