{"id":43149,"date":"2016-02-16T14:04:20","date_gmt":"2016-02-16T19:04:20","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=43149"},"modified":"2023-04-27T08:03:27","modified_gmt":"2023-04-27T12:03:27","slug":"how-big-dog-sized-down-to-progress","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-big-dog-sized-down-to-progress","title":{"rendered":"How Big Dog sized down to progress"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/srnQWTuX-mw\" width=\"600\" height=\"338\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><br \/>\nBig Dog started to learn Futures to capitalize on this market with elevated volatility.\u00a0 He is a fast study.\u00a0 Big Dog is also an accomplished trader, in the 500k-1m a-year range.\u00a0 Let me share an anecdote working with him on our desk to improve his sizing.<\/p>\n<p>Big Dog noticed something about his stops when he started to size up in this new product.\u00a0 He was getting wicked out.\u00a0 (He even went as far as wondering if the algos knew where his stops were and running them intentionally.)\u00a0 He explained:<\/p>\n<blockquote><p>When I trade 2 times bigger, I usually want to be in the money right<br \/>\naway, and try to avoid getting into fake breakouts, and want to be in<br \/>\ncleaner breaks, so my stops tend to be tighter, as a results, stops tend<br \/>\nto get triggered more often.<br \/>\nWhen I trade 1\/2<br \/>\nbigger, I tend to give wider stops, and let things wiggle a little bit<br \/>\nmore and evaluate my situation more. I&#8217;m willing to take the chance of<br \/>\ngetting into fake breakouts because even if I get stopped out further,<br \/>\nit wouldn&#8217;t be as devastating as I were to trade it with 2 times size.<\/p><\/blockquote>\n<p>Big Dog was searching for my advice.<\/p>\n<p>So I responded:<\/p>\n<blockquote><p>Either get better at seeing when the trade will work right away or trade<br \/>\n1\/2 size and every 3 days positive increase size 20 percent.<\/p><\/blockquote>\n<p>Big Dog chose the later.<\/p>\n<p>Three days later he followed up.<\/p>\n<blockquote><p>Following up on my PnL after cutting my size back 50%.\u00a0 (Big Dog then shared his PnL, which compliance instructed me to remove.\u00a0 But Big Dog went back to making money consistently.)<\/p>\n<p>Next week I will add 500 shares to equities and 1 contract to futures.<\/p>\n<p>I&#8217;m<br \/>\nreally thankful that we confronted this problem together and found a<br \/>\nsolution that worked timely. I think partly what happened earlier was<br \/>\nthat I kept thinking about wanting to make huge money by adding a lot<br \/>\nof size. But what&#8217;s really more important to me are making good trading<br \/>\ndecisions, keeping my trading edge, and maintaining consistency.\u00a0 My PnL<br \/>\nshould be a result of doing these things religiously. And sizing should<br \/>\nbe done in a way that doesn&#8217;t alter my trading behavior.<\/p><\/blockquote>\n<p>These are the issues and real-life exchanges with which accomplished traders struggle.\u00a0 It is not just you.\u00a0 Notice how Big Dog diligently reviewed his trading to find a solution and then found one.\u00a0 Sometimes we must take a step back in trading to progress.<\/p>\n<p><b>Related posts<\/b><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/volatility-based-sizing\">Sizing your positions with increased volatility<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/smb-u-trading-lesson-of-the-week-position-sizing-in-ccl\">SMBU trading lesson of the week- Position sizing<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/overlooked-risk-tools-position-sizing\">The overlooked risk tool- position sizing<\/a><b><br \/>\n<\/b><\/p>\n<p>*no relevant positions<\/p>\n<p><a href=\"https:\/\/tradingworkshop.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-42831\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/03\/smbwebinarsignup.jpg\" alt=\"tradingworkshop\" width=\"556\" height=\"264\" \/><\/a><\/p>\n<p>Mike Bellafiore is the Co-Founder of SMB Capital and SMBU, which provides trading education in stocks, and options. He is the author of <em><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary-ebook\/dp\/B003VIWRJA\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1396299609&amp;sr=1-1&amp;keywords=The+PlayBook+one+good+trade\">One Good Trade<\/a><\/em> and <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=1358899059&amp;sr=1-1&amp;keywords=The+PlayBook+mike+bellafiore\">The PlayBook<\/a><\/em>.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ufeff Big Dog started to learn Futures to capitalize on this market with elevated volatility.\u00a0 He is a fast study.\u00a0 Big Dog is also an accomplished trader, in the 500k-1m a-year range.\u00a0 Let me share an anecdote working with him on our desk to improve his sizing. Big Dog noticed something about his stops when he started to size up &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/how-big-dog-sized-down-to-progress\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1168,4863,4865,4864],"class_list":["post-43149","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-big","tag-dog","tag-progress","tag-sized","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>How Big Dog sized down to progress | 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\/how-big-dog-sized-down-to-progress\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Big Dog sized down to progress | SMB Training\" \/>\n<meta property=\"og:description\" content=\"\ufeff Big Dog started to learn Futures to capitalize on this market with elevated volatility.\u00a0 He is a fast study.\u00a0 Big Dog is also an accomplished trader, in the 500k-1m a-year range.\u00a0 Let me share an anecdote working with him on our desk to improve his sizing. Big Dog noticed something about his stops when he started to size up ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/how-big-dog-sized-down-to-progress\" \/>\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=\"2016-02-16T19:04:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-27T12:03:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/03\/smbwebinarsignup.jpg\" \/>\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\" 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