{"id":36630,"date":"2014-03-07T10:15:10","date_gmt":"2014-03-07T15:15:10","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=36630"},"modified":"2023-08-01T17:30:11","modified_gmt":"2023-08-01T21:30:11","slug":"a-lesson-from-a-failed-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-lesson-from-a-failed-trader","title":{"rendered":"A Lesson from a Failed Trader (for Now)"},"content":{"rendered":"

Trading is a very difficult sport. The representation of trading within the Financial Media Entertainment Complex is sensationalized and is intended to first entertain.<\/p>\n

Trading is a skill. You must build skill, then your PlayBook, and then you will be able to navigate yourself toward becoming a Consistently Profitable Trader. It’s not a game of guessing, no-edge predicting, IQ, luck, false “conviction”, or faux\u00a0\u00fcber confidence. It’s the perpetual search for a slight edge with trades that make the most sense to you and you can manage in real time.<\/p>\n

Good luck saying that about trading on TV.<\/p>\n

This trader below got some of his start right. Well done by him on this. But as he admits it wasn’t enough. Learn below what he found was missing so that you can avoid making this trading mistake.<\/p>\n

I wanted to personally thank you both for what you are do for the trading community at SMB. Today will be my last day trading, and I will be ending my membership as well. Not because of your service, but after my last blow up today, I realized that I cannot control myself to be an effective trader. Today, I asked Steve on his morning meeting (two days in a row) about two stocks I wanted to trade. QCOR and ITMN. Steve suggested that these were not the best stocks to trade based on his experience. I did not listen, and then lost all my money today in QCOR. I wish I had listened, and now my money clock has ran out because of my foolishness. I used to have the mentality that no matter what I would not quit this business. But today I am. How can I tell my wife, that every few months I blow through 5K in risk capital? I could go on trading, but I just cannot stand another loss. What really bothers me more than anything is that I could have used half the money to take one of your courses, but I thought I could do it on my own. I hope other traders listen to you guys because wisdom from trading experience is a powerful tool to help you succeed in this business. Thank you for what you have given to the trading community.<\/p><\/blockquote>\n

A huge thank you to this trader for allowing us to share his journey as a teaching lesson with the trading community!<\/p>\n

You can be better tomorrow than you are today!<\/div>\n
<\/div>\n
Mike Bellafiore<\/div>\n
One Good Trade<\/a><\/em><\/div>\n
The PlayBook<\/a><\/em><\/div>\n
\"\"<\/a><\/div>\n
No relevant positions<\/div>\n

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

Trading is a very difficult sport. The representation of trading within the Financial Media Entertainment Complex is sensationalized and is intended to first entertain. Trading is a skill. You must build skill, then your PlayBook, and then you will be able to navigate yourself toward becoming a Consistently Profitable Trader. It’s not a game of guessing, no-edge predicting, IQ, luck, … 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],"tags":[3848,4685],"class_list":["post-36630","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-failed-trader","tag-trading-lesson","no-post-thumbnail"],"yoast_head":"\nA Lesson from a Failed Trader (for Now) | 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\/a-lesson-from-a-failed-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Lesson from a Failed Trader (for Now) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Trading is a very difficult sport. The representation of trading within the Financial Media Entertainment Complex is sensationalized and is intended to first entertain. Trading is a skill. You must build skill, then your PlayBook, and then you will be able to navigate yourself toward becoming a Consistently Profitable Trader. It’s not a game of guessing, no-edge predicting, IQ, luck, ... 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