{"id":44298,"date":"2016-09-16T13:26:34","date_gmt":"2016-09-16T17:26:34","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=44298"},"modified":"2016-09-16T13:26:34","modified_gmt":"2016-09-16T17:26:34","slug":"how-to-make-better-trading-decisions","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions","title":{"rendered":"How to make better trading decisions"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-44301\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658-1024x683.jpg\" alt=\"kvw_3658\" width=\"600\" height=\"400\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658-1024x683.jpg 1024w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658-300x200.jpg 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658-768x513.jpg 768w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<p>In this Ted talk below, writer Julia Galef argues that making good decisions is dependent on employing a scout mindset.\u00a0 This talk is helpful for us as traders to make the best trading decisions.<\/p>\n<p>Galef breaks mindset into two categories: scout mindset and soldier mindset.\u00a0 The soldier mindset defends their ideas.\u00a0 This &#8220;motivated reasoning&#8221; tries to make some ideas win and others lose.\u00a0 Contrast that with the scout mindset, where you try and get an accurate picture of what is really there.<\/p>\n<p>How does this relate to trading?<\/p>\n<blockquote><p>&#8220;TSLA has to trade lower.\u00a0 Did you see that article today on Bloomberg comparing it to VRX?\u00a0 These buyers today are completely wrong.\u00a0 It is just going up today because the market is strong (oops the market is negative).\u00a0 Bunch of morons.&#8221;<\/p><\/blockquote>\n<p>You might say that is a soldier mindset.<\/p>\n<blockquote><p>&#8220;I thought this WDC would finish HOD.\u00a0 But it held under VWAP for 30 minutes.\u00a0 It traded well below VWAP for that 3o minutes.\u00a0 The market spiked, WDC traded back into VWAP, and then sunk to LOD again.\u00a0 It is not confirming my thesis presently, so I will lighten up.&#8221;<\/p><\/blockquote>\n<p>You might say this is a scout mindset.<\/p>\n<p>The scout mindset will help you make better trading decisions.\u00a0 It will help you improve daily as a trader.\u00a0 It will make you become more sustainable as a trader, as markets are always changing.<\/p>\n<p>I hope you enjoy the video and you find it helpful to make better trading decisions.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/embed-ssl.ted.com\/talks\/julia_galef_why_you_think_you_re_right_even_if_you_re_wrong.html\" width=\"640\" height=\"360\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><strong>Related posts<\/strong><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/an-idea-that-is-helping-traders\">An idea that is helping traders<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/how-to-filter-out-noise-and-make-better-decisions\">How to filter out noise and make better trade decisions<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/what-is-the-1-thing-that-is-absolutely-critical-to-a-trader-s-success\">The #1 critical thing to a trader&#8217;s success<\/a><\/p>\n<p>*no relevant positions<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this Ted talk below, writer Julia Galef argues that making good decisions is dependent on employing a scout mindset.\u00a0 This talk is helpful for us as traders to make the best trading decisions. Galef breaks mindset into two categories: scout mindset and soldier mindset.\u00a0 The soldier mindset defends their ideas.\u00a0 This &#8220;motivated reasoning&#8221; tries to make some ideas win &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":44301,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2252,2826,55,38],"class_list":["post-44298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-decisions","tag-mindset","tag-trade","tag-trading"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to make better trading decisions | 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-to-make-better-trading-decisions\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to make better trading decisions | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this Ted talk below, writer Julia Galef argues that making good decisions is dependent on employing a scout mindset.\u00a0 This talk is helpful for us as traders to make the best trading decisions. Galef breaks mindset into two categories: scout mindset and soldier mindset.\u00a0 The soldier mindset defends their ideas.\u00a0 This &#8220;motivated reasoning&#8221; tries to make some ideas win ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\" \/>\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=\"2016-09-16T17:26:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658-1024x683.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\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\/how-to-make-better-trading-decisions#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"How to make better trading decisions\",\"datePublished\":\"2016-09-16T17:26:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\"},\"wordCount\":281,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg\",\"keywords\":[\"decisions\",\"mindset\",\"trade\",\"trading\"],\"articleSection\":[\"General Comments\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\",\"name\":\"How to make better trading decisions | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg\",\"datePublished\":\"2016-09-16T17:26:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg\",\"width\":7360,\"height\":4912},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to make better trading decisions\"}]},{\"@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":"How to make better trading decisions | 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\/how-to-make-better-trading-decisions","og_locale":"en_US","og_type":"article","og_title":"How to make better trading decisions | SMB Training","og_description":"In this Ted talk below, writer Julia Galef argues that making good decisions is dependent on employing a scout mindset.\u00a0 This talk is helpful for us as traders to make the best trading decisions. Galef breaks mindset into two categories: scout mindset and soldier mindset.\u00a0 The soldier mindset defends their ideas.\u00a0 This &#8220;motivated reasoning&#8221; tries to make some ideas win ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2016-09-16T17:26:34+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658-1024x683.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\/how-to-make-better-trading-decisions#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"How to make better trading decisions","datePublished":"2016-09-16T17:26:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions"},"wordCount":281,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg","keywords":["decisions","mindset","trade","trading"],"articleSection":["General Comments"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions","url":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions","name":"How to make better trading decisions | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg","datePublished":"2016-09-16T17:26:34+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#primaryimage","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/KVW_3658.jpg","width":7360,"height":4912},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/how-to-make-better-trading-decisions#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"How to make better trading decisions"}]},{"@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\/44298","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=44298"}],"version-history":[{"count":0,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/44298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media\/44301"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=44298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=44298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=44298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}