{"id":42151,"date":"2015-09-10T14:31:09","date_gmt":"2015-09-10T18:31:09","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=42151"},"modified":"2023-04-17T11:54:47","modified_gmt":"2023-04-17T15:54:47","slug":"30-trading-habits-in-30-days","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/30-trading-habits-in-30-days","title":{"rendered":"30 Trading Habits in 30 Days"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-42152\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2015\/09\/30days.png\" alt=\"30days\" width=\"336\" height=\"339\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2015\/09\/30days.png 500w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2015\/09\/30days-150x150.png 150w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2015\/09\/30days-298x300.png 298w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2015\/09\/30days-300x302.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2015\/09\/30days-45x45.png 45w\" sizes=\"auto, (max-width: 336px) 100vw, 336px\" \/><\/p>\n<p>Over the next month I will offer a peak into the highly competitive world of\u00a0 proprietary trading to give readers a taste of the daily work of a professional trader.\u00a0 I will share 30 trading habits in 30 days.\u00a0 My hope is that this will give you some ideas on habits to add to your trading.<\/p>\n<p>Before we begin let me clear up a few points.\u00a0 What is a proprietary trading firm?\u00a0 At our firm, we back all traders with firm capital.\u00a0 It is not uncommon for a high performing trader to be provided with a trading account of over 10 million in buying power.\u00a0 We split trading profits with the profitable traders and take 100 percent of the losses from losing traders.\u00a0 Also, we provide proprietary technology for our traders that is not available outside the firm.\u00a0 Further, we provide automated trading technology for traders to back-test, forward-test and trade live from their desktop.<\/p>\n<p>Given this, our only path to making money as a firm is developing profitable traders.<\/p>\n<p>The PnL of our traders is largely a computation of the habits they develop and NOT their trading calls on market or individual stock direction.<\/p>\n<p>Thus we encourage best practices that are then turned into habits so our traders and our firm succeed.\u00a0 I hope this context helps communicate the importance of these trading habits to successful trading.<\/p>\n<p>Let me being with Trading Habit #1- The PlayBook.<\/p>\n<p>&nbsp;<\/p>\n<p><b>The PlayBook<\/b><\/p>\n<p>Each day after the close new traders are required to archive a setup that makes the most sense to them from the previous trading session.\u00a0 They archive the setup with specific variables: The Big Picture, News Catalyst, Technicals, Reading the Tape, Trade Management,<\/p>\n<p>And then 2xs a week we meet in our training room, as you can see in the picture above, to review one PlayBook trade from a developing trader.\u00a0 I critique their trade.\u00a0 I press the trader on specific elements of the trade.\u00a0 Why didn\u2019t you get bigger there?\u00a0 Why did this trade work?\u00a0 If you made this trade 1000 times would you have edge?\u00a0 Other traders ask questions as well.<\/p>\n<p>Recently we have reviewed trades in $SPY $ACI $AAPL $GPRO.<\/p>\n<p>This is a process for traders to build their trading business.<\/p>\n<p>Do you have a formal system for archiving your best setups?\u00a0 If not consider adopting this best practice into habit.<\/p>\n<p><b>Related posts<\/b><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/the-playbook-inspires-this-canadian-trader\" data-rapid_p=\"23\">The PlayBook inspires this Canadian Trader<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/the-playbook-helping-london-prop-traders\" data-rapid_p=\"24\">The PlayBook helping London Prop Traders<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>*no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the next month I will offer a peak into the highly competitive world of\u00a0 proprietary trading to give readers a taste of the daily work of a professional trader.\u00a0 I will share 30 trading habits in 30 days.\u00a0 My hope is that this will give you some ideas on habits to add to your trading. Before we begin let &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/30-trading-habits-in-30-days\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":42152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4625],"tags":[1718,4626],"class_list":["post-42151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-30-trading-habits-in-30-days","tag-the-playbook","tag-trading-habits"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>30 Trading Habits in 30 Days | 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\/30-trading-habits-in-30-days\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"30 Trading Habits in 30 Days | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Over the next month I will offer a peak into the highly competitive world of\u00a0 proprietary trading to give readers a taste of the daily work of a professional trader.\u00a0 I will share 30 trading habits in 30 days.\u00a0 My hope is that this will give you some ideas on habits to add to your trading. 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