{"id":44548,"date":"2016-11-04T15:33:11","date_gmt":"2016-11-04T19:33:11","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=44548"},"modified":"2016-11-10T13:20:13","modified_gmt":"2016-11-10T18:20:13","slug":"the-first-test","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-first-test","title":{"rendered":"The first test for a new trader"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"600\" height=\"338\" src=\"https:\/\/www.youtube.com\/embed\/HP0o3WpGoRE?rel=0&amp;showinfo=0\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<p>You get hired for June on a trading desk.<\/p>\n<p>You take The Foundation, a 6 week course.\u00a0 You learn everything you didn&#8217;t learn in school, the internet, blogs, cable TV (just kidding), your uncle, and\/or trading gurus about the markets necessary to place professional trades.<\/p>\n<p>Then it&#8217;s on to Trader Development where for the next 6 months you experiment with different trades, build a PlayBook, find your niche, build habits of best practices, attend mentoring sessions, watch trading film, share notes with fellow traders, learn to leverage technology thru filters, scanners and autotrading.\u00a0 You are expected to show an edge in some niche of trading.\u00a0 Nothing big.\u00a0 Just an edge.\u00a0 Something that shows you might have it.<\/p>\n<p>But really you are just learning who you are as a trader.\u00a0 What your niche could be so you can focus on your strengths.<\/p>\n<p>And then you interview for Team Trading.\u00a0 You take that PlayBook, you discuss your habits, you show that edge, and you hope to become mentored by a successful trader.<\/p>\n<p>You sit with that veteran trader and copy his best practices, and learn some of his trading, and receive his feedback from your questions in real-time.\u00a0 You will hone that edge, leverage technology to trade it more often.\u00a0 You will work with your coach on increasing your book- your risk.\u00a0 And getting accustomed to all this is another 4 months of adjustment.<\/p>\n<p>So it&#8217;s a year into your trading career after all of that- Foundation, Trader Development and Team Trading.<\/p>\n<p>Now it&#8217;s August.\u00a0 A month of slow summer trading, shortened work weeks, veteran traders heading out early to the beach, vacations, and lighter volume.\u00a0 And then it&#8217;s September with all those holidays interrupting that young upcoming trader eager to apply his skill.\u00a0 Who can get any real trading done then?<\/p>\n<p>So it&#8217;s not until October, 16 months into your trading career, until you will face your first test as trader.\u00a0 It will be earnings season.\u00a0 You will know what type of a trader you are.\u00a0 You will know your edge.\u00a0 You will have received mentoring and coaching on it.\u00a0 You will have more buying power and risk to express your edge.<\/p>\n<p>That&#8217;s 16 months in.\u00a0 That is your first test.<\/p>\n<p>And I write the above because how many of you think your first test is Day One?\u00a0 How many of you expect results just three months in?\u00a0 That is ridiculous.\u00a0 How many of you trade with large size in Month One?\u00a0 That is dangerous.\u00a0 How many of you never leverage technology?\u00a0 That is prehistoric.\u00a0 How many of you never train at all before you trade live?\u00a0 That is fantastical.<\/p>\n<p>16 months in at a professional proprietary trading desk is your first test.<\/p>\n<p>That is 361 live days of trading prior.\u00a0 That is 1083 trader mentoring sessions later.\u00a0 That is 361 detailed trading reviews after.\u00a0 That is thousands of one-on-one conversations with pro traders in real-time.\u00a0 That is 361 PlayBook trades archived.\u00a0 That is hundreds of hours worked on building filters.\u00a0 That is hundreds of hours working on backtesting completed.\u00a0 And much much more.<\/p>\n<p>16 months in is your first test.<\/p>\n<p><strong>Related posts<\/strong><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Q0H8XI4W8ZE\">SMB Capital visits Indiana University<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/what-i-learned-from-visiting-smb-capital\">What I learned visiting SMB <\/a><\/p>\n<p>This trader is ready to trade live<\/p>\n<p>*no relevant positions<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You get hired for June on a trading desk. You take The Foundation, a 6 week course.\u00a0 You learn everything you didn&#8217;t learn in school, the internet, blogs, cable TV (just kidding), your uncle, and\/or trading gurus about the markets necessary to place professional trades. Then it&#8217;s on to Trader Development where for the next 6 months you experiment with &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-first-test\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":44394,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[5205,1193,653,1996,1354,1989,1349],"class_list":["post-44548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-online-trading-class","tag-trader-education","tag-trader-training","tag-trading-class","tag-trading-coach","tag-trading-course","tag-trading-mentor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The first test for a new trader | 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\/the-first-test\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The first test for a new trader | SMB Training\" \/>\n<meta property=\"og:description\" content=\"You get hired for June on a trading desk. You take The Foundation, a 6 week course.\u00a0 You learn everything you didn&#8217;t learn in school, the internet, blogs, cable TV (just kidding), your uncle, and\/or trading gurus about the markets necessary to place professional trades. Then it&#8217;s on to Trader Development where for the next 6 months you experiment with ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/the-first-test\" \/>\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=\"2016-11-04T19:33:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-11-10T18:20:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/09\/dailyvid0929.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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 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