{"id":38280,"date":"2014-07-16T15:26:27","date_gmt":"2014-07-16T19:26:27","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=38280"},"modified":"2021-05-07T09:46:10","modified_gmt":"2021-05-07T13:46:10","slug":"creating-a-road-map-helped-this-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/creating-a-road-map-helped-this-trader","title":{"rendered":"Creating a Road Map Helped this Trader"},"content":{"rendered":"

I noticed one of our new traders had a day of out-performance.\u00a0 I assumed this was his best trading day because of his PnL but\u00a0it turned out it was his second best.\u00a0 Still he was near the top of the leaderboard with a very substantial intraday PnL for a new trader- heck for all traders.<\/p>\n

I asked him what he thought of his trading day in my office.<\/p>\n

He said he was pretty happy.<\/p>\n

I asked if there was anything he had done that was particularly instrumental in this outstanding trading day.\u00a0 There was something.\u00a0 It is a best practice for you to consider.<\/p>\n

The trader developed a road map before the open.\u00a0 He wrote down stocks, levels, and great long and short entries on a template sheet of paper before the open.\u00a0 The trader created the template.\u00a0 He mapped out great intraday trades in specific stocks for his trading style.\u00a0 The trader felt this prepared him to succeed in these trades.\u00a0 In the past, he just wrote down levels and stocks.\u00a0 This was not preparing him for success, shared this trader.<\/p>\n

A road map feels like an athlete’s warm up to me.\u00a0 Imagine if I told you LeBron didn’t warm up before a game.\u00a0 You should find that ridiculous.\u00a0 Do you warm up as a trader?\u00a0 Do you prepare your mind to execute on trades in real-time?\u00a0 Is it enough for you to just write down stocks and levels or do you need to think through specific setups and variables most opportunistic to you?<\/p>\n

I want to trade KORS on the short side<\/em> is not the same as visualizing shorting KORS on the shortside at 83 if it shows weakness on the tape for an Opening Drive Play.\u00a0 Maybe you miss that Opening Drive play because you are not doing this mental warmup- developing a road map.<\/p>\n

This is a best practice that has helped a trader on our desk.\u00a0 Perhaps it is something you might consider to help you improve your trading game.<\/p>\n

Related posts:<\/strong><\/p>\n

A Road Map<\/a><\/p>\n

Forex Road Map<\/a><\/p>\n

\u201cYou can be better tomorrow than you are today!\u201d<\/em><\/p>\n

Mike Bellafiore is the Co-Founder of SMB Capital and SMBU, which provides trading education in stocks, options, forex and futures. Bella is the author of One Good Trade<\/a> <\/em>and The PlayBook<\/a><\/em>.\u00a0 Mike invites your questions at mbellafiore@smbcap.com.
\n[useful_banner_manager banners=9 count=1]\n

No relevant positions<\/p>\n

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

I noticed one of our new traders had a day of out-performance.\u00a0 I assumed this was his best trading day because of his PnL but\u00a0it turned out it was his second best.\u00a0 Still he was near the top of the leaderboard with a very substantial intraday PnL for a new trader- heck for all traders. I asked him what he … 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":[1,4054],"tags":[3233,3137,2375,2374,144],"class_list":["post-38280","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-in-house-training","tag-creating","tag-helped","tag-map","tag-road","tag-trader","no-post-thumbnail"],"yoast_head":"\nCreating a Road Map Helped this 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\/creating-a-road-map-helped-this-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Creating a Road Map Helped this Trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I noticed one of our new traders had a day of out-performance.\u00a0 I assumed this was his best trading day because of his PnL but\u00a0it turned out it was his second best.\u00a0 Still he was near the top of the leaderboard with a very substantial intraday PnL for a new trader- heck for all traders. 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