{"id":47494,"date":"2018-09-11T13:59:40","date_gmt":"2018-09-11T17:59:40","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=47494"},"modified":"2023-06-08T12:20:19","modified_gmt":"2023-06-08T16:20:19","slug":"here-is-how-you-trade-bigger-advice-to-a-junior-trader-on-the-trading-desk","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/here-is-how-you-trade-bigger-advice-to-a-junior-trader-on-the-trading-desk","title":{"rendered":"Scaling Up: Expert Advice for Junior Traders on the Trading Desk"},"content":{"rendered":"

\"\"<\/p>\n

You want to trade bigger.<\/p>\n

There is little worse than making a good trade and knowing you could have made much more.<\/p>\n

Trading bigger is what is holding you back as a trader.\u00a0 Perhaps what is even holding you back from being a professional trader.\u00a0 If you could solve this problem, then you could start doing what you love full-time.<\/p>\n

We work on this on our prop desk in NYC.\u00a0 Traders develop edge, then seek to trade bigger.\u00a0 Without conquering this challenge, they will not enjoy a career as a professional trader.<\/p>\n

I worked on this with a junior trader on the desk just last night.\u00a0 Below is a passage from his Daily Report Card:<\/p>\n

Today I bought an inflection in CGC in the morning. A consolidation above VWAP after the pull-in held. Other pot names were strong. This would lead to an opening range break. This was a category 2 trade (single momentum move), and it did not reach my target. I did a good job scaling at extensions and raising my stop to stay profitable on the trade. I recognized that it was losing momentum and adjusted accordingly. More detailed focus on execution will help me do more of this.<\/span><\/p>\n

I could have done better by fighting for price and getting bigger in this trade.<\/strong> I really need to focus in the coming weeks on fighting for price in order to get bigger and increase risk\/reward. Paying close attention to the tape and where a stock is holding is necessary.<\/span><\/p><\/blockquote>\n

Notice how this prop trader wants to trade bigger.\u00a0 He does a terrific job of finding a solution to help him trade bigger- fight for price.\u00a0 By “fight for price” we mean to enter at excellent prices as this affects the risk\/reward for the trade.<\/p>\n

This trader does an exceptional job of working on his trading game.\u00a0 He is consistent and intensive in his efforts.\u00a0 He is a wonderful role model for those developing as a trader.\u00a0 And look how he is working to trade bigger from his best trades.\u00a0 That is so key. But there is something very important missing from his review that will help him improve his sizing.<\/p>\n

Go back and read the passage above and see if you spot it.\u00a0 What should he have added to this review to help him trade bigger?<\/p>\n

I have to say that I see this often in reviews that I read with all levels of trading.\u00a0 I am fortunate to work with 7-figures traders on our desk and outside the firm.\u00a0 They too receive this feedback from me.\u00a0 And I have been dolling it out quite often lately.<\/p>\n

Here is what I wrote back to the junior trader on our desk to help him trade bigger:<\/p>\n

This review needs to be more specific right here. \u00a0Where could you have been bigger? And how could you have gotten bigger?\u00a0 Where would your stop have been when you got bigger?\u00a0 Where would your exit strike be for if you were correct in the trade?<\/span><\/p>\n

Specific.\u00a0 Specific.\u00a0 Specific.\u00a0 About how you could have been bigger within your trading system in your best trades.<\/p>\n

Don’t just say you want to trade bigger.\u00a0 Don’t just throw out a solution for how to trade bigger.\u00a0 Be specific about where and how you can be bigger in you best trades.<\/p>\n

*no relevant positions<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

You want to trade bigger. There is little worse than making a good trade and knowing you could have made much more. Trading bigger is what is holding you back as a trader.\u00a0 Perhaps what is even holding you back from being a professional trader.\u00a0 If you could solve this problem, then you could start doing what you love full-time. … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":47495,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5463],"tags":[1425,5499,2042,5498],"class_list":["post-47494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bella-daily-update","tag-position-sizing","tag-scaling-trades","tag-trading-bigger","tag-trading-with-more-size"],"yoast_head":"\nTrade Bigger with Expert Advice | SMB Training<\/title>\n<meta name=\"description\" content=\"Discover expert tips on trading bigger from a senior trader to a junior trader on the trading desk.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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