When we started SMB Capital not even four years ago we set out to do four things:<\/p>\n
1) provide the best intraday training on the Street.<\/p>\n
2) offer a payout that was fairer than I had received to our traders.<\/p>\n
3) create a culture of perpetual learning, where we all learned from each other.<\/p>\n
4) share valuable trading information.<\/p>\n
Many retail and independent traders trade solo. \u00a0I have tried this. \u00a0I am informed that this may work for some. \u00a0It did not work for me. \u00a0Steve tried it. \u00a0It did not work for him. \u00a0JToma gave it a stab, and he couldn’t help just watching CNBC on his couch most of the trading day (how ironic!).<\/p>\n
As traders we are only as good as our stocks. \u00a0An environment that offers excellent trading ideas can turn a decent month into a memorable one. \u00a0All it takes is a few good ideas shared per week to change even an month.<\/p>\n
Creating this environment can be tricky. \u00a0 What information is relevant to share? \u00a0A desk must be disciplined to share only ideas that lead to good trading opportunities. \u00a0The air waves should be viewed as an emergency operating channel. \u00a0If it does not relate to making money then the channel should be silent, clear for the next trader to offer a valuable set up.<\/p>\n
And sometimes the sharing of information can lead to discord on a desk. \u00a0Why is that guy always talking? \u00a0I remember a noob years ago who called out fifty trades on his first day live. \u00a0A senior trader loudly stalked over after the close and scolded,”When you start making money then you can speak, until then focus on learning how to trade.” \u00a0JToma loves to share the entertaining story of a guy who got punched out for trash talking on his desk back in the late 90’s (kind of like the Myers\/Hammels scrum this week at the Stadium). \u00a0If people care about their performance there will be contentious moments. \u00a0As long as everyone respects each other and the desk, then these incidents become forgettable.<\/p>\n
If you are not connected to a virtual environment or a desk that offers value to your trading through the sharing ideas then you are trading at a disadvantage. \u00a0If you are on a desk that does so then be the guy who keep offering excellent trading set ups. \u00a0Be that trader who makes things better, pay it forward. \u00a0 One trader offering great call outs can change a row. \u00a0One superior row and carry a desk. \u00a0One day some of those you carried will pay you back with trading ideas.<\/p>\n","protected":false},"excerpt":{"rendered":"