How to improve your discipline as a trader

BellaGeneral Comments

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 Effect Does Living Frugally Play in The Success of A Trader?

BellaMike Bellafiore's (Bella's) Blogs4 Comments

We had a recognized trading psychologist (name not mentioned for compliance reasons) visit SMB yesterday.  One of traders pro-actively sent this coach a question about his development progress. Dear Dr. (Well-known trading coach), I would like to thank you very much for your talk at SMB Capital. It was a real privilege to have met you in real live after reading your … Read More

IF I Develop a Trading Plan THEN My Results Will Improve: EXPE (10.26.12)

adminGeneral Comments, Steven Spencer (Steve's) Blogs, Trader DevelopmentLeave a Comment

I tweeted this week that trading is about having a series of if/then statements and not about making predictions. In practical terms this means that traders are game planning for every stock on their watch list. They are making decisions on how to trade each name based on price action, market conditions and news catalysts. For every stock I look … Read More