{"id":48825,"date":"2019-08-08T09:17:45","date_gmt":"2019-08-08T13:17:45","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=48825"},"modified":"2019-08-08T09:17:45","modified_gmt":"2019-08-08T13:17:45","slug":"how-one-trader-turned-around-his-trading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-one-trader-turned-around-his-trading","title":{"rendered":"How one trader turned around his trading"},"content":{"rendered":"

\"\"<\/p>\n

Your back is against the wall as a trader.\u00a0 Simply, you need to make money.\u00a0 You feel the pressure.\u00a0 The economic strain is a reality.\u00a0 Failing at your dream job is a time period away.\u00a0 That thought is crushing, perhaps soul-crushing.<\/p>\n

How can you turn this around?<\/p>\n

Let me share a turnaround story from our trading desk.<\/p>\n

We sat in our SMB management weekly meeting discussing a veteran trader at the prop firm.\u00a0 He was doing so poorly.\u00a0 He had had significant periods of success, but it just wasn’t happening for this trader end of 2018.\u00a0 His losses were starting to pile up.\u00a0 And none of this made sense as this trader can trade.\u00a0 Moreover, he was an important member of our firm, who we needed to do well.<\/p>\n

Shoulders slumped, empathy for this trader’s underperformance, and deep concern for this trader of his under-performance choked the oxygen in the room, while we fretted what we had to do next.\u00a0 We needed to deliver the message.<\/p>\n

That message was: you need to start performing.<\/p>\n

That message was delivered AND with a buffet of suggestions for improvement and a full offering of help.<\/p>\n

A quarter of trading passed……<\/p>\n

We sit in our training room during a monthly review as this same trader presents his monthly review.\u00a0 Many of the same players who sat in that management room concluding a message needed to be delivered are participating in this review.\u00a0 This time the room was filled with….. joy.\u00a0 We could not be happier for this trader who had turned his trading around.<\/p>\n

Our Floor Manager praised the trader for his turnaround.\u00a0 Our trading coach stressed the specific improvement this trader had made.\u00a0 I beamed at the role modeling this trader had done for how you turn your trading around.<\/p>\n

What a terrific job by this trader!<\/p>\n

How did he do it?\u00a0 In his words:<\/p>\n

    \n
  1. trader decreased size and let the stocks breathe more with a wider stop<\/span><\/li>\n
  2. losses were kept in check<\/span><\/li>\n
  3. improved not fighting the trend<\/span>\u00a0<\/span><\/li>\n
  4. let the trades come to him and didn’t have to be the first person in<\/span><\/li>\n
  5. stopped trading the Open<\/span><\/li>\n<\/ol>\n

    Notice that trader made effective changes to turnaround his trading results.\u00a0 Even those with ability experience such challenges and tests from the market.\u00a0 There are often solutions.\u00a0 And those solutions need to be found.<\/p>\n

    *no relevant positions<\/p>\n

     <\/p>\n

     <\/p>\n

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

    Your back is against the wall as a trader.\u00a0 Simply, you need to make money.\u00a0 You feel the pressure.\u00a0 The economic strain is a reality.\u00a0 Failing at your dream job is a time period away.\u00a0 That thought is crushing, perhaps soul-crushing. How can you turn this around? Let me share a turnaround story from our trading desk. We sat in … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":48832,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5463],"tags":[653,1354,1989,1349],"class_list":["post-48825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bella-daily-update","tag-trader-training","tag-trading-coach","tag-trading-course","tag-trading-mentor"],"yoast_head":"\nHow one trader turned around his trading | 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-one-trader-turned-around-his-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How one trader turned around his trading | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Your back is against the wall as a trader.\u00a0 Simply, you need to make money.\u00a0 You feel the pressure.\u00a0 The economic strain is a reality.\u00a0 Failing at your dream job is a time period away.\u00a0 That thought is crushing, perhaps soul-crushing. 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