{"id":47443,"date":"2018-08-29T10:38:09","date_gmt":"2018-08-29T14:38:09","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=47443"},"modified":"2018-08-29T10:38:09","modified_gmt":"2018-08-29T14:38:09","slug":"how-to-achieve-your-trading-goals","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-achieve-your-trading-goals","title":{"rendered":"How to achieve your trading goals"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/QQ4HpXSwUOM\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><br \/>\nThis is a guest post from Joseph Gelb (Princeton &#8217;20), SMB Capital- Summer Intern 2018<\/p>\n<p>Jason Graystone, of <a href=\"https:\/\/tieronetrading.com\/\">Tier One Trading<\/a>, recently interviewed SMB Capital Co-Founder Mike Bellafiore in this <a href=\"https:\/\/youtu.be\/QQ4HpXSwUOM\">video<\/a>.<\/p>\n<p><b>Topics of Discussion:<\/b><\/p>\n<p>What do seven-figure traders have in common that Mike mentors\/coaches at SMB and outside the firm?<\/p>\n<p>What formula does Mike observe that the best traders at the firm follow when they are trading at their best?<\/p>\n<p>What is a proprietary trading firm?<\/p>\n<p>How was SMB created?<\/p>\n<p>What does it mean to run a prop firm?<\/p>\n<p>What should you expect as the very real learning curve of a new prop trader?<\/p>\n<p>What are the most common mistakes for new traders?<\/p>\n<p>What are SMB&#8217;s seven fundamentals?<\/p>\n<p>Questions from audience<\/p>\n<p><b>Resources:<\/b><\/p>\n<p><a href=\"https:\/\/broadcast.smbtraining.com\/smbwebinar1\/?utm_source=Blog\">Next SMB Training Webinar<\/a>, that shares 3 setups that prop traders use daily with edge<\/p>\n<p><a href=\"https:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1535552458&amp;sr=1-1&amp;keywords=one+good+trade\">One Good Trade<\/a><\/p>\n<p><a href=\"https:\/\/www.amazon.com\/PlayBook-Inside-Professional-Trader-Paperback\/dp\/013518889X\/ref=pd_sim_14_1?_encoding=UTF8&amp;pd_rd_i=013518889X&amp;pd_rd_r=22d6e1d7-ab93-11e8-b11d-915b29cfa4b3&amp;pd_rd_w=w233K&amp;pd_rd_wg=riSOL&amp;pf_rd_i=desktop-dp-sims&amp;pf_rd_m=ATVPDKIKX0DER&amp;pf_rd_p=a180fdfb-b54e-4904-85ba-d852197d6c09&amp;pf_rd_r=2QBYC9NVV0T5H7P7EPY6&amp;pf_rd_s=desktop-dp-sims&amp;pf_rd_t=40701&amp;psc=1&amp;refRID=2QBYC9NVV0T5H7P7EPY6\">The Playbook<\/a><\/p>\n<p><a href=\"http:\/\/traderfeed.blogspot.com\/\">TraderFeed<\/a> with Dr. Brett Steenbarger<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=4RdakOlhw-Y&amp;t=1423s\">The Daily Report Card with a seven-figure trader<\/a><\/p>\n<p><b>Notes:<\/b><\/p>\n<p>SMB is a PnL prop firm, which means it shares profits with its traders and provides all the capital, coaching, and technology.<\/p>\n<p>SMB has a constant focus on improvement, whether that means becoming consistently profitable for a new trader, or getting bigger for a<br \/>\nseven-figure trader.<\/p>\n<p>Mike Bellafiore previously worked at another prop firm.\u00a0 He thought he would be better suited to run a firm based on his skillset, so he founded SMB with Steve Spencer.<\/p>\n<p>Now, the infrastructure is in place which allows a trader entering the firm to have a very good chance at becoming consistently profitable and then a seven-figure trader.<\/p>\n<p>All of the successful traders at SMB have been self motivated enough to review their trades intensively, and think about where the next big<br \/>\nopportunity will be.<\/p>\n<p>Prop traders do a lot of work outside of market hours, from planning trades, to writing scripts (technology), to reviewing.<\/p>\n<p>Traders are not expected to make money in the first twelve months.<\/p>\n<p>It took one of SMB&#8217;s best traders 18 months to start making significant money.<\/p>\n<p>It&#8217;s important not to be too directionally biased. The best traders follow the formula:<br \/>\nThesis + Setup + Confirmation on tape + fighting for price = Great trade<\/p>\n<p>The best traders are extremely receptive to new knowledge.<\/p>\n<p>It is impossible to be a successful trader without cutting losses. Traders at SMB have intraday stop losses to limit risk.<\/p>\n<p>Gradually increasing loss limits facilitates scalability in the long run.<\/p>\n<p>*no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is a guest post from Joseph Gelb (Princeton &#8217;20), SMB Capital- Summer Intern 2018 Jason Graystone, of Tier One Trading, recently interviewed SMB Capital Co-Founder Mike Bellafiore in this video. Topics of Discussion: What do seven-figure traders have in common that Mike mentors\/coaches at SMB and outside the firm? What formula does Mike observe that the best traders at &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/how-to-achieve-your-trading-goals\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":47449,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5463,1],"tags":[30,653,1354,1989,1349],"class_list":["post-47443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bella-daily-update","category-general-comments-2","tag-prop-trading","tag-trader-training","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>How to achieve your trading goals | 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-achieve-your-trading-goals\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to achieve your trading goals | SMB Training\" \/>\n<meta property=\"og:description\" content=\"This is a guest post from Joseph Gelb (Princeton &#8217;20), SMB Capital- Summer Intern 2018 Jason Graystone, of Tier One Trading, recently interviewed SMB Capital Co-Founder Mike Bellafiore in this video. 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