{"id":22959,"date":"2013-01-09T12:45:34","date_gmt":"2013-01-09T17:45:34","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=22959"},"modified":"2013-01-19T01:20:05","modified_gmt":"2013-01-19T06:20:05","slug":"is-he-a-real-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/is-he-a-real-trader","title":{"rendered":"Is He a &#8220;Real Trader&#8221;?"},"content":{"rendered":"<p>I come from a prop firm that\u2019s heavily composed of traders that scalp for a penny profit on list of selective stocks that meet the necessary criteria.\u00a0 Yesterday, our firm has been banned for a week on using the routes on these selective stocks that are necessary to implement the penny scalping strategy from our provider due to selective traders \u201cabusing\u201d the routing privileges. \u00a0My superior have informed the traders that it\u2019s best for us to go home instead of attempting to trade other names since we won\u2019t have an \u201cedge.\u201d<\/p>\n<p>The advice from my superior advising us to go home due to the fact that we won\u2019t have an edge directed an insulting vibe towards me.\u00a0 I thought to myself, if I\u2019m able to read the tape on the selective stocks that I trade every day, shouldn\u2019t I be able to read the tape on other stocks with similar criteria?\u00a0 Do I even have the right to consider myself as a trader if my credentials only allow me to trade the same stocks every day?\u00a0 What if in the future\u2014and inevitably so\u2014these stocks that I trade don\u2019t meet the criteria to implement my firm\u2019s trading strategy? After recently finishing reading your book: One Good Trade, I can only think about asking for your opinion.\u00a0 Do I have the right to consider myself as a trader?<\/p>\n<p>Sincerely,<\/p>\n<p>Feeling tapped\u2026<\/p>\n<p><strong>@mikebellafiore<\/strong><\/p>\n<p>1.\u00a0 I try and coach my own team.<\/p>\n<p>2. Of course you are a real trader.\u00a0 You are a hyper active scalper.\u00a0 You do not have to go on the entertainment financial media complex and make longer term predictions to be considered a &#8220;real trader&#8221;.\u00a0 If you are working everyday at a style of trading, live, with real money into the market, then you are a &#8220;real trader&#8221;.\u00a0 As for your style the most profitable firms in the world employ it, HFTs, just with high powered computers.<\/p>\n<p>3. It makes sense to me that you can slowly work to expand your game scalping other stocks and even other time frames.\u00a0 We encourage our traders to trade high beta stocks after becoming proficient is less expensive and less volatile stocks.\u00a0 In that same vein, you might try a High Beta Stock Scalp with 100 share lots as you are developing this trade and attempt to add this to your <a href=\"http:\/\/www.amazon.com\/The-Playbook-Inside-Professional-Trader\/dp\/0132937646\/ref=sr_1_cc_1?s=aps&amp;ie=UTF8&amp;qid=1357752403&amp;sr=1-1-catcorr&amp;keywords=The+PlayBook+mike+bellafiore\">PlayBook<\/a>.<\/p>\n<p>4. I am not a fan of forcing a trader into one particular style.\u00a0 As a coach I have made this mistake in the past.\u00a0 Better to let guys express their trades with patterns that make the most sense to them.\u00a0 I have trained some guys who were not very good as intraday momentum traders who went on to be very successful traders in other products and time frames.<\/p>\n<p>5. I hope you learned from<em> One Good Trade<\/em> the importance of process.\u00a0 So I ask what process will you develop to add other scalp trades to your PlayBook?\u00a0 You cannot just decide to start trading different stocks.\u00a0 You must develop a learning system for you to become consistently profitable in these new set ups.<\/p>\n<p>I hope that helps. Thxs for reaching out to me and sharing your trading story.<\/p>\n<p>Mike Bellafiore<\/p>\n<p><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1357332711&amp;sr=1-1&amp;keywords=one+good+trade+mike+bellafiore\">One Good Trade<\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I come from a prop firm that\u2019s heavily composed of traders that scalp for a penny profit on list of selective stocks that meet the necessary criteria.\u00a0 Yesterday, our firm has been banned for a week on using the routes on these selective stocks that are necessary to implement the penny scalping strategy from our provider due to selective traders &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/is-he-a-real-trader\" class=\"more-link\">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":[2461,2462,4703,4706,4707,653,2463,1989,4690],"class_list":["post-22959","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-traders","tag-day-trading-how-to","tag-learn-trading","tag-stock-trading-education","tag-stock-training","tag-trader-training","tag-traders-training","tag-trading-course","tag-trading-education","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is He a &quot;Real Trader&quot;? | 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\/is-he-a-real-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is He a &quot;Real Trader&quot;? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I come from a prop firm that\u2019s heavily composed of traders that scalp for a penny profit on list of selective stocks that meet the necessary criteria.\u00a0 Yesterday, our firm has been banned for a week on using the routes on these selective stocks that are necessary to implement the penny scalping strategy from our provider due to selective traders ... 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