{"id":21513,"date":"2012-10-16T13:39:00","date_gmt":"2012-10-16T17:39:00","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=21513"},"modified":"2012-10-16T13:42:06","modified_gmt":"2012-10-16T17:42:06","slug":"the-happier-toronto-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-happier-toronto-trader","title":{"rendered":"The happier Toronto trader"},"content":{"rendered":"

I am an hour away from my presentation at Quant Invest Canada and instead of preparing I thought I would share some thoughts from a few meetings with Canadian traders with whom I met. \u00a0I take the Coach K approach to presentations. \u00a0If you cannot get up there and speak on a subject without notes then they probably should not have invited you in the first place. \u00a0I will have a power point for the presentation but if you have seen me speak I hate speaking from prepared remarks. \u00a0I prefer to just start, get a feel for the audience’s interest, pivot there and see how that goes.<\/p>\n

So yesterday I met with some traders in Toronto who trade US markets. \u00a0The market is untapped here. \u00a0There is little quality education according to one trader. \u00a0Swift Trade left a few years ago so execution deals are different. \u00a0Prop shops like in NYC do not exist. \u00a0There is demand for US equities trading and FX without much service shared area traders.<\/p>\n

I am sure that will change soon.\u00a0Toronto according to my cab driver is building more big buildings than NYC. He seems to know what he was talking about. \u00a0There is a well educated population. \u00a0The people are sure friendly. \u00a0People act in a way here that makes you rethink why you live in NYC. \u00a0If I had a happiness meter it would score higher in Toronto. \u00a0It is however, cold.<\/p>\n

One trader I met with was doing much better than he realized. \u00a0Trading alone. \u00a0Trading without tools. \u00a0Self taught other than the SMB Blog, according to him. \u00a0Live from the Trading Floor<\/a> with @sspencer_smb was a huge learning tool for this trader. \u00a0Trading on a crap execution platform. \u00a0Trading without appropriate buying power. \u00a0He was consistently profitable, getting better, and paying the bills and then some. \u00a0In this no support environment this is exceptional.<\/p>\n

But he was leaving a great deal of present and future P&L on the table. \u00a0During your first three years of trading you want to get the learning part spot on. \u00a0You are not going to find out how good you can be until after three years. \u00a0What is most important during these years is a learning environment, value added tools, like minded traders to swap ideas…….building a strong trading base. \u00a0After that you can worry about the lowest possible execution deal and trading your own money.<\/p>\n

The future for the intraday trader will not begin and end with equities trading and negotiating the best execution deal. \u00a0It will be a future where you can become a multi-product, multi-market, discretionary trader who builds auto trading strategies. \u00a0That is a lot of work to do. \u00a0That is five years of work. \u00a0Keep asking if you giving yourself the best chance to grab this type of career opportunity.<\/p>\n

Do not lose track of where you are headed being distracted with a cheaper platform that may save you a few bucks but harm your long term progress. \u00a0 Do not waste time figuring out how to take home 4.5k from the 4k you are making, risking finding out how good you can be after 5 years. \u00a0The upside to your trading from Year 3 to Year 5 and thereafter is too important.<\/p>\n

Gotta go and speak now!<\/p>\n

Bella<\/p>\n

One Good Trade<\/a><\/p>\n

\"\"<\/a>
\nno relevant positions<\/p>\n

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

I am an hour away from my presentation at Quant Invest Canada and instead of preparing I thought I would share some thoughts from a few meetings with Canadian traders with whom I met. \u00a0I take the Coach K approach to presentations. \u00a0If you cannot get up there and speak on a subject without notes then they probably should not … 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":[2091,1964,30,1193,653,1354],"class_list":["post-21513","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading-course-day-trading-class","tag-learn-to-trade","tag-prop-trading","tag-trader-education","tag-trader-training","tag-trading-coach","no-post-thumbnail"],"yoast_head":"\nThe happier Toronto trader | 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\/the-happier-toronto-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The happier Toronto trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I am an hour away from my presentation at Quant Invest Canada and instead of preparing I thought I would share some thoughts from a few meetings with Canadian traders with whom I met. \u00a0I take the Coach K approach to presentations. \u00a0If you cannot get up there and speak on a subject without notes then they probably should not ... 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