This was overall a frustrating week for traders at our firm and for the traders that I mentor outside the firm. That happens. The key is to learn and grow. There were however some highlights. One Junior Trader had his best PnL day ever. We detail the trade in step-by-step detail that led to his best trading session ever here. … Read More
I had lunch with a candidate for our September training class, who asked a really good question: “How did your past in sports and law influence your path as a trader?” Answer: Process To become successful in the past, I needed to follow and trust the process. To be successful as a new, developing and even experienced trader you … Read More
Today, SMB Co-Founder and noted author Mike Bellafiore returns to the Options Tribe to share his observations about the habits that sustainably great traders develop as they progress in their trading careers on a proprietary trading desk.
Mike, Hello. This wasn’t a good week. I made a lot of mistakes. 1. I didn’t stick to my plan and took several trades without a clear plan. 2. I felt anxious most days. I was aware, and did some exercises to clear my mind, but after the first losing trade, I lost my focus. 3. I feel frustrated from … Read More
I sent this question from an SMB reader to Dr. Jonathan F. Katz, performance coach, at High Performance Associates. —– I’m sending this message as I am in need of help with regard to a specific issue that I’m currently experiencing. I have studied the market vigorously every day for the past two years. I’ve read and studied many books … Read More
So you see that a trader really can make it. He has stopped losing money, put up some good days, works hard, loves the work, and is bound to getting better. At this point I move to work on building his confidence. But how do you do this? The worst thing is to applaud a high P&L day. A good … Read More
One of our traders read our blog post last night on improving your performance by watching and shared some interesting additional data. This comes from the book One Second Thought: Outsmarting your Mind’s Hard-wired Habits by Wray Herbert. Psychologists used to think that perception and movement were two completely separate process, lodged in different regions of the brain. The common wisdom … Read More