9 Trading Lessons Essential for Today’s Market

1. Develop your system to short circuit trades that do not feel right. What you certainly DO NOT want to do is short circuit a trade based on your feel before developing your system to do so.  That could lead you to prematurely exiting a good r/r trade. 2. Do your Daily Report Card without fail. Watch: How the Daily … Read More

10 Key Takeaways from March Trading (from the Prop Desk)

1. Gchat an accountability partner to help you trade bigger. One junior trader had a breakout month in March.  During his Team monthly review, this junior trader attributed the below as a big reason for this success:  During the 5-6 biggest opportunities of the month, he sent a Gchat to an accountability partner, outlined why the opportunity was worthy of … Read More

How you can develop a trading hot streak

At SMB, our prop firm, we think a great deal about the best way to train new traders.  Our core business is training new traders into consistently profitable and then elite traders.  Since 2005, this has been our focus for our work. New traders go through an extensive training program before they ever trade firm capital.  We would never allow … Read More

6 critical trading lessons from crazy $CAR

These are crazy times to trade and $CAR was crazy for even this market.  This is what traders on our desk are saying about this market and this most recent $CAR trading opportunity. One elite trader at our firm in an AAR (After Action Report) to other select elite traders described these trading times this way: What a crazy time … Read More

A Month of Trading Poorly is Too Long

A month of trading poorly is too long. During our recent monthly trader reviews, we made this point to three separate traders, on 3 different teams, with 3 different levels of experience, 3 different trading styles, and after 3 different month’s of production.  You do not want to be at your trading station reviewing your month and grade yourself poorly … Read More

You Are Trading Better Than You Think

I was reviewing the PlayBook trade of a junior trader, when an important trading principle needed to be shared.  Better said, this might also be an important life principle. The trader was reviewing a Multi-Day Swing Trade in GameStop and reviewing his performance.  From my seat, the trader had done so many things right.  He chose the right stock.  He … Read More

Trader mentoring that helps you trade professionally (or lose miserably)

Let me offer a sneak peak into a conversation we had on our trading desk yesterday about mentoring a developing trader the right way.  We did this virtually as almost our entire desk is remote due to Covid.  Getting this mentoring right can make all the difference in the career of a trader. A senior trader pinged me for advice … Read More

Improve your trading this weekend with these educational videos

How to Spot the Stocks You Should Stop Trading  Here’s Why You Don’t Give Up On Your Best Options Strategies My First Year Day Trading at a Prop Firm (4 Ways I Found Success) The Secret to Finding the Most Lucrative Trades (Surprisingly) Real Trades Using Tape Reading with Three Proprietary Traders Important disclosures