{"id":44276,"date":"2016-09-13T12:19:53","date_gmt":"2016-09-13T16:19:53","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=44276"},"modified":"2016-09-13T12:19:53","modified_gmt":"2016-09-13T16:19:53","slug":"things-heard-on-the-prop-desk-this-monday","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday","title":{"rendered":"Things heard on the prop desk this Monday"},"content":{"rendered":"

\"kvw_3661\"<\/p>\n

Monday’s strength was surprising to some prop traders on the Street, after the huge down move Friday.\u00a0 Let me share some things heard on our prop desk, and then make a trading point.<\/p>\n

Me: didnt expect today<\/p>\n

Trader: it’s just so annoying<\/p>\n

Me: yes yes yes. \u00a0but good example of…..its our job to trade the market not expect the market to trade the way we want.<\/p>\n

Trader: true<\/p>\n

Me: I shorted this PII- so guilty as well<\/p>\n

……………………………………………………………..<\/p>\n

Trader B: After the sell off on Friday, and TICK below 1000 we expected a gap down Monday<\/p>\n

Me: It is what it is<\/p>\n

Trader B: It makes no sense to me<\/p>\n

………………………………………………….<\/p><\/blockquote>\n

This chart shows that while many discretionary traders expected a large gap down Monday AM, with continued weakness, the odds of a decline were only 55 percent.<\/div>\n
<\/div>\n
\"surprising\"<\/div>\n
Let’s be honest, after the open of trading ended (defined as past 10:15AM) and we made a new high of the intraday, a short in SPY was not supported by price and time.\u00a0 Price and time read with an open mind should have dispelled any surprise on market strength for the rest of the trading session.<\/div>\n

<\/div>\n
<\/div>\n
\"spy-short\"<\/div>\n
<\/div>\n
<\/div>\n<\/p>\n

Trading point: It is our job as active traders to observe the market and listen to how it is trading.\u00a0 The market is not here to trade the way we want.\u00a0 Monday reminds us of this important trading principle.<\/div>\n
<\/div>\n
Related posts<\/strong><\/div>\n
<\/div>\n
What troubles me about this trader<\/a><\/div>\n
Trader development<\/a><\/div>\n
Our markets are broken but still the world’s best<\/a><\/div>\n
<\/div>\n
*no relevant positions<\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

Monday’s strength was surprising to some prop traders on the Street, after the huge down move Friday.\u00a0 Let me share some things heard on our prop desk, and then make a trading point. Me: didnt expect today Trader: it’s just so annoying Me: yes yes yes. \u00a0but good example of…..its our job to trade the market not expect the market … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":44280,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4674,1193,5096,653,1354,5129],"class_list":["post-44276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-one-good-trade","tag-trader-education","tag-trader-mentoring","tag-trader-training","tag-trading-coach","tag-trading-principles"],"yoast_head":"\nThings heard on the prop desk this Monday | 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\/things-heard-on-the-prop-desk-this-monday\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Things heard on the prop desk this Monday | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Monday’s strength was surprising to some prop traders on the Street, after the huge down move Friday.\u00a0 Let me share some things heard on our prop desk, and then make a trading point. Me: didnt expect today Trader: it’s just so annoying Me: yes yes yes. \u00a0but good example of…..its our job to trade the market not expect the market ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday\" \/>\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=\"2016-09-13T16:19:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"7360\" \/>\n\t<meta property=\"og:image:height\" content=\"4912\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\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\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"Things heard on the prop desk this Monday\",\"datePublished\":\"2016-09-13T16:19:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday\"},\"wordCount\":264,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg\",\"keywords\":[\"One Good Trade\",\"trader education\",\"trader mentoring\",\"trader training\",\"trading coach\",\"trading principles\"],\"articleSection\":[\"General Comments\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday\",\"name\":\"Things heard on the prop desk this Monday | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg\",\"datePublished\":\"2016-09-13T16:19:53+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg\",\"width\":7360,\"height\":4912},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Things heard on the prop desk this Monday\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\",\"name\":\"Bella\",\"description\":\"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.\",\"sameAs\":[\"https:\/\/www.smbtraining.com\/blog\/bellas-blog\"],\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/bella\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Things heard on the prop desk this Monday | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday","og_locale":"en_US","og_type":"article","og_title":"Things heard on the prop desk this Monday | SMB Training","og_description":"Monday’s strength was surprising to some prop traders on the Street, after the huge down move Friday.\u00a0 Let me share some things heard on our prop desk, and then make a trading point. Me: didnt expect today Trader: it’s just so annoying Me: yes yes yes. \u00a0but good example of…..its our job to trade the market not expect the market ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2016-09-13T16:19:53+00:00","og_image":[{"width":7360,"height":4912,"url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg","type":"image\/jpeg"}],"author":"Bella","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"Bella","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"Things heard on the prop desk this Monday","datePublished":"2016-09-13T16:19:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday"},"wordCount":264,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg","keywords":["One Good Trade","trader education","trader mentoring","trader training","trading coach","trading principles"],"articleSection":["General Comments"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday","url":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday","name":"Things heard on the prop desk this Monday | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg","datePublished":"2016-09-13T16:19:53+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#primaryimage","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3661.jpg","width":7360,"height":4912},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/things-heard-on-the-prop-desk-this-monday#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"Things heard on the prop desk this Monday"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161","name":"Bella","description":"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.","sameAs":["https:\/\/www.smbtraining.com\/blog\/bellas-blog"],"url":"https:\/\/www.smbtraining.com\/blog\/author\/bella"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/44276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/144"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=44276"}],"version-history":[{"count":0,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/44276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media\/44280"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=44276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=44276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=44276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}