{"id":43155,"date":"2016-02-17T11:10:25","date_gmt":"2016-02-17T16:10:25","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=43155"},"modified":"2023-04-25T17:26:26","modified_gmt":"2023-04-25T21:26:26","slug":"mr-padre-hitting-singles-now","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/mr-padre-hitting-singles-now","title":{"rendered":"Mr. Padre hitting singles now"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/y4synjFuiCs\" width=\"600\" height=\"338\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Mr. Padre is a senior trader trying to hit home runs with his trading.\u00a0 It was not working for him, both psychologically and with his PnL.The more famous \u201cMr. Padre\u201d was the late Tony Gwynn of the San Diego Padres, who built a hall-of-fame career slapping singles.\u00a0 He consistently hit above .300 and got on base at a clip of 39%.\u00a0 Instead of focusing on hitting home runs he was a singles machine.\u00a0 He is a role model for traders overvaluing the big trade for many profitable smaller trades.<\/p>\n<p>Back to our Mr. Padre.<\/p>\n<p>Mr. Padre is up 20k and pressing it to make 50k.\u00a0 And then falters into the close.<\/p>\n<p>There are some days where he finishes up over 20k but then there are some days when he finishes negative 20k.<\/p>\n<p>A 5 day streak might look something like this (*hypothetical results).<\/p>\n<blockquote><p>-22k<\/p>\n<p>+25k<\/p>\n<p>10k<\/p>\n<p>-12k<\/p>\n<p>flat<\/p><\/blockquote>\n<p>For several months he is about flat in his PnL trying to hit trading home runs. Yet he has all those big days.<\/p>\n<p>Consistency is underrated in the trading world versus the big trades.\u00a0 There are books and movies written about them, think <i>The Big Short<\/i>.\u00a0 And we have been working with Mr. Padre to sacrifice home run PnL days for more controllable and consistently profitable trading days.<\/p>\n<p>We dig into Mr. Padre\u2019s edge.<\/p>\n<ul>\n<li>We find there is larger edge in Mr. Padre\u2019s AM trading.<\/li>\n<li>We find that when he trades with a thesis AND a news catalyst AND price confirmation AND fights for price there is edge in his trading.<\/li>\n<li>We find when Mr. Padre just trades a thesis there is not edge in his trading.<\/li>\n<li>We find that there is rarely an edge holding opening gains into the midday.<\/li>\n<li>We find that Mr. Padre can have many more 10k days and less negative 20k days if he focuses on consistency over a huge day.<\/li>\n<\/ul>\n<p>If a trader can gain consistent results, they can scale from there.\u00a0 They can get bigger doing exactly what they are doing, just more often and with more size.\u00a0 But you cannot scale from a negative or flat PnL.\u00a0 Also, it\u2019s much more sustainable psychologically to be positive 3\/4 days a week than perhaps one.<\/p>\n<p>The results?\u00a0 So far with his focus on singles, his results have noticeably improved.<\/p>\n<p><b>Related Posts<\/b><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/consistency-is-not-a-game-of-perfect\">Consistency is not a game of percent<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/trading-frustration-3-a-lack-of-consistency\">Trading Frustration #3: A lack of consistency<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/rcp\/in-search-of-consistency-in-your-trading\">The search for consistency<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/questions-on-consistency-and-scalability\">Questions on consistency and scalability<\/a><\/p>\n<p>*no 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<p>Mike Bellafiore is the Co-Founder of SMB Capital and SMBU, which provides trading education in stocks, options, forex and futures. 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","protected":false},"excerpt":{"rendered":"<p>Mr. Padre is a senior trader trying to hit home runs with his trading.\u00a0 It was not working for him, both psychologically and with his PnL.The more famous \u201cMr. Padre\u201d was the late Tony Gwynn of the San Diego Padres, who built a hall-of-fame career slapping singles.\u00a0 He consistently hit above .300 and got on base at a clip of &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/mr-padre-hitting-singles-now\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":43163,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2991,4866,4867],"class_list":["post-43155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-hitting","tag-padre","tag-singles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mr. Padre hitting singles 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\/mr-padre-hitting-singles-now\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mr. Padre hitting singles now | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Mr. Padre is a senior trader trying to hit home runs with his trading.\u00a0 It was not working for him, both psychologically and with his PnL.The more famous \u201cMr. Padre\u201d was the late Tony Gwynn of the San Diego Padres, who built a hall-of-fame career slapping singles.\u00a0 He consistently hit above .300 and got on base at a clip of ... 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