{"id":35152,"date":"2014-01-18T14:21:58","date_gmt":"2014-01-18T19:21:58","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=35152"},"modified":"2023-04-27T08:27:17","modified_gmt":"2023-04-27T12:27:17","slug":"from-here-you-can-become-a-really-good-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/from-here-you-can-become-a-really-good-trader","title":{"rendered":"From Here You Can Become a Really Good Trader"},"content":{"rendered":"<p>During our recent webinar <a href=\"http:\/\/www.smbtraining.com\/blog\/solving-your-top-five-trading-frustrations-video-webinar\">Solving Your Top Five Trading Frustrations<\/a> I was asked:<\/p>\n<blockquote><p>What should a new trader expect from their P&amp;L?<\/p><\/blockquote>\n<p>The video below is instructive in answering this question. It was shared by an SMBU Trading Community member.\u00a0A Chinese bamboo tree takes five years to start growing\u2014and then in five weeks it can grow 90 feet high. This principle applies to your trading. <iframe loading=\"lazy\" src=\"\/\/www.youtube.com\/embed\/ASAU1KJcp6I\" width=\"600\" height=\"338\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Instead of obsessing about your P&amp;L, obsess about building a solid trading base. Build trading skills. Here are some key items you ought to be focusing on:<\/p>\n<p>a) Learn how to read the tape<br \/>\nb) Technical analysis<br \/>\nc) Find stocks that are &#8220;In Play&#8221;<br \/>\nd) Trading psychology<br \/>\ne) Trading setups<br \/>\nf) and much more<\/p>\n<p>Next, build your PlayBook. Determine and outline in detail the setups that make the most sense TO YOU.<\/p>\n<p>After you do this you should be here in your <a href=\"http:\/\/www.smbtraining.com\/blog\/a-path-to-profitability\">trading path<\/a>:<\/p>\n<p>1) Lose too much<br \/>\n2) Lose less<br \/>\n3) Flat<br \/>\n<strong>4) Slightly profitable<\/strong><br \/>\n5) Consistently profitable<br \/>\n6) Consistently profitable with an expanded PlayBook<br \/>\n7) Get bigger in your A+ setups<\/p>\n<p>You can grow quickly as a trader from Stage 4. It is unlikely you will grow quickly from Stages 1-3. It does not take five years to arrive at Stage 4 like a bamboo tree but it takes a significant period of time. For the developing trader, instead of focusing on P&amp;L goals focus on building skills and then your PlayBook.<\/p>\n<p>Are you willing to do the work to find Stage 4?<\/p>\n<p>Do you have the patience and mindset to achieve Stage 4?<\/p>\n<p>Do you have the resources to help you achieve Stage 4 success?<\/p>\n<p>Do you have a daily rehearsal routine to become <em>slightly profitable<\/em>?<\/p>\n<p>No one is going to ask you to go on CNBC if you make it to Stage 4. But this is a massively important accomplishment as a trader. And from here you can get really good.<\/p>\n<p>Related blog posts:<br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/sizing-and-entries-in-this-volatility\">Sizing and Entries in This Volatile Market<\/a><br \/>\n<a href=\"http:\/\/www.smbtraining.com\/blog\/from-bad-to-great-a-traders-steps-to-improve-performance\"> From Bad to Great: a Trader&#8217;s Steps to Improve Performance<\/a><\/p>\n<p>You can be better tomorrow than you are today!<\/p>\n<p>Mike Bellafiore<\/p>\n<p><em><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1375715301&amp;sr=1-1&amp;keywords=one+good+trade\">One Good Trade<br \/>\n<\/a><\/em><a href=\"http:\/\/www.amazon.com\/PlayBook-Inside-Think-Professional-Trader\/dp\/0132937646\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1390507658&amp;sr=1-1&amp;keywords=the+playbook+mike+bellafiore\"><em>The PlayBook<\/em><\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><br \/>\nNo relevant positions<\/p>\n<p><a href=\"https:\/\/tradingworkshop.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-42831\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/03\/smbwebinarsignup.jpg\" alt=\"tradingworkshop\" width=\"600\" height=\"300\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During our recent webinar Solving Your Top Five Trading Frustrations I was asked: What should a new trader expect from their P&amp;L? The video below is instructive in answering this question. It was shared by an SMBU Trading Community member.\u00a0A Chinese bamboo tree takes five years to start growing\u2014and then in five weeks it can grow 90 feet high. This &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/from-here-you-can-become-a-really-good-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":[1,10,456,908],"tags":[1332,4690,682],"class_list":["post-35152","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","category-trader_development","category-traders-ask","tag-technical-analysis","tag-trading-education","tag-trading-psychology","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>From Here You Can Become a Really Good 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\/from-here-you-can-become-a-really-good-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From Here You Can Become a Really Good Trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"During our recent webinar Solving Your Top Five Trading Frustrations I was asked: What should a new trader expect from their P&amp;L? The video below is instructive in answering this question. It was shared by an SMBU Trading Community member.\u00a0A Chinese bamboo tree takes five years to start growing\u2014and then in five weeks it can grow 90 feet high. This ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/from-here-you-can-become-a-really-good-trader\" \/>\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=\"2014-01-18T19:21:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-27T12:27:17+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" \/>\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 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