{"id":2084,"date":"2009-09-28T17:25:18","date_gmt":"2009-09-28T22:25:18","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2084"},"modified":"2023-03-30T08:45:20","modified_gmt":"2023-03-30T12:45:20","slug":"from-the-mailbag-4","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4","title":{"rendered":"From the Mailbag – Part 4"},"content":{"rendered":"

I received this email from Reader Josh.\u00a0 This is a very interesting dilemma he finds himself in as a new trader.\u00a0 For SMB Readers do you have any advice to offer Reader Josh?<\/p>\n

Hello Bella,<\/p>\n

I believe my question is geared towards adjustments. \u00a0I am 25 years old. \u00a0I have been playing poker and making money in it since 2004 playing online cash games, 8 tables at once. \u00a0i can process information extremely quickly and can be aggressive enough to be able to manage that many tables with positive expectation almost every week. \u00a0I am a recent graduate (april 2009) of online trading academy. \u00a0I have been making money trading options and trading the underlying on intraday basis fairly consistently. \u00a0My background is in mathematics and economics and i try to employ game theory to day trading as much as possible as if i were playing poker. \u00a0now since i am 25 i think i am prolly much more aggressive in nature than someone trading in their 30s and 40s. \u00a0I tend to react extremely quickly to the information and am willing to get into multiple positions at a time, sometimes 8+ at once if the conditions are met. In most cases, i am looking to momentum scalp for quarters and dimes. \u00a0I am working with my father on trading and he is extremely conservative. \u00a0so much, that on intraday trading he will put restrictions such that i can only long or short into unrealistic supply and demand zones (extremities) with distorted potential profit. \u00a0now while this can be effective i am used to constantly being involved and this causes me to lose focus and lose money when i am forced to trade within his parameters. \u00a0I keep showing him my trade lists when i have 75+ trades a day and it has yielded positive expectation with almost all winning days for the last 3 months. \u00a0Now when i employ his methodology and i can really only get into 4-8 positions at most throughout the day i have been a net loser. \u00a0He wont seem to budge and it appears that i am going to have to\u00a0accommodate stylistically to his view of how intraday trading should be managed. \u00a0How do i make the adjustments to ensure that i have positive expected value when i have to reduce my own tendencies to compensate for someone\u00a0else’s?<\/div>\n
Thank you for your time and consideration,<\/div>\n
Josh<\/div>\n
<\/div>\n
SMB <\/strong><\/div>\n
On Wednesday after sorting through all of the ideas from our readers I will offer some thoughts.<\/div>\n
\u00a0<\/strong><\/div>\n
\u00a0<\/strong><\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

I received this email from Reader Josh.\u00a0 This is a very interesting dilemma he finds himself in as a new trader.\u00a0 For SMB Readers do you have any advice to offer Reader Josh? Hello Bella, I believe my question is geared towards adjustments. \u00a0I am 25 years old. \u00a0I have been playing poker and making money in it since 2004 … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4676,30,18],"class_list":["post-2084","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-prop-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nFrom the Mailbag - Part 4 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From the Mailbag - Part 4 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I received this email from Reader Josh.\u00a0 This is a very interesting dilemma he finds himself in as a new trader.\u00a0 For SMB Readers do you have any advice to offer Reader Josh? Hello Bella, I believe my question is geared towards adjustments. \u00a0I am 25 years old. \u00a0I have been playing poker and making money in it since 2004 ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2009-09-28T22:25:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-30T12:45:20+00:00\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"From the Mailbag – Part 4\",\"datePublished\":\"2009-09-28T22:25:18+00:00\",\"dateModified\":\"2023-03-30T12:45:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\"},\"wordCount\":421,\"commentCount\":47,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"keywords\":[\"day trading\",\"prop trading\",\"smb capital\"],\"articleSection\":[\"Mike Bellafiore's (Bella's) Blogs\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\",\"name\":\"From the Mailbag - Part 4 | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"datePublished\":\"2009-09-28T22:25:18+00:00\",\"dateModified\":\"2023-03-30T12:45:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"From the Mailbag – Part 4\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\",\"name\":\"Bella\",\"description\":\"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.\",\"sameAs\":[\"https:\/\/www.smbtraining.com\/blog\/bellas-blog\"],\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/bella\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"From the Mailbag - Part 4 | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4","og_locale":"en_US","og_type":"article","og_title":"From the Mailbag - Part 4 | SMB Training","og_description":"I received this email from Reader Josh.\u00a0 This is a very interesting dilemma he finds himself in as a new trader.\u00a0 For SMB Readers do you have any advice to offer Reader Josh? Hello Bella, I believe my question is geared towards adjustments. \u00a0I am 25 years old. \u00a0I have been playing poker and making money in it since 2004 ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2009-09-28T22:25:18+00:00","article_modified_time":"2023-03-30T12:45:20+00:00","author":"Bella","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"Bella","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"From the Mailbag – Part 4","datePublished":"2009-09-28T22:25:18+00:00","dateModified":"2023-03-30T12:45:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4"},"wordCount":421,"commentCount":47,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"keywords":["day trading","prop trading","smb capital"],"articleSection":["Mike Bellafiore's (Bella's) Blogs"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4","url":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4","name":"From the Mailbag - Part 4 | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"datePublished":"2009-09-28T22:25:18+00:00","dateModified":"2023-03-30T12:45:20+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/from-the-mailbag-4#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"From the Mailbag – Part 4"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161","name":"Bella","description":"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.","sameAs":["https:\/\/www.smbtraining.com\/blog\/bellas-blog"],"url":"https:\/\/www.smbtraining.com\/blog\/author\/bella"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/2084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/144"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=2084"}],"version-history":[{"count":1,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/2084\/revisions"}],"predecessor-version":[{"id":52117,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/2084\/revisions\/52117"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=2084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=2084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=2084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}