{"id":49344,"date":"2019-12-09T16:34:58","date_gmt":"2019-12-09T21:34:58","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=49344"},"modified":"2019-12-09T16:34:58","modified_gmt":"2019-12-09T21:34:58","slug":"6-essential-trading-lessons-from-top-traders-you-need-to-learn","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn","title":{"rendered":"6 Essential Trading Lessons From Top Traders You Need To Learn"},"content":{"rendered":"

In this video learn 6 essential trading lessons from top traders, that you need to learn. Dr. Brett Steenbarger, renowned trading coach, and Mike Bellafiore, SMB Capital co-founder, teach you these 6 crucial lessons from elite traders so you can dramatically improve as a trader.
\nView Video Transcript<\/strong><\/span>

in this video learn six essential
\ntrading lessons from top traders that
\nyou need to learn hi I’m Mike Bellafiore
\nco-founder of SMB capital a proprietary
\ntrading firm located in midtown
\nManhattan and I’m also the author of the
\ntrading classic one good trade and the
\nplaybook dr. Brett Steenbarger our
\nrenowned trading coach and I teach you
\nthese six crucial lessons from elite
\ntraders so you can dramatically improve
\nas a trader
\nthank you very much for having us we are
\nlooking forward to sharing ideas with
\nyou about successful trading Mike
\nBellafiore and I work with traders
\nprofessional traders at a firm called
\nSMB Capital what is unique about SMB is
\nthat we teach traders how to become
\nsuccessful professional traders so we
\nteach from the very beginning and we
\ncoach them I’m a psychologist by
\nprofession we mentor them Mike and Steve
\ndo much of the mentoring we help those
\ntraders grow to be successful in today’s
\npresentation we are sharing with you
\nsome lessons that we have learned from
\nthe most successful traders at SMB these
\nare trader making hundreds of thousands
\nof dollars each year and in some cases
\nmillions of dollars each year they’ve
\nbeen very successful we see what they do
\nevery single day and we want to share
\nwith you the lessons from their
\nsuccessful training okay so let’s start
\nwith lesson number one and like jump in
\nat any time obviously lesson number one
\nis the importance of keeping score now
\nwhat we mean by that is that you track
\nthe profits and losses of all of the
\ntrades you place
\nand you keep records so that you can see
\nwhich trains are successful and which
\ntrains are not an SMB say platform a
\nprogram called traitor view that is a
\ndatabase of all of the trains that each
\ntrade places so we can identify how many
\nwinning trades and losing trains there
\nare identify how much people make in
\ntheir trains how much they losing trades
\nwe can track the types of trains ones
\nare more successful we also track this
\nis coming from as a function of time of
\nday sometimes people make money during
\none part of the day and not during other
\nparts of the day so we are able to
\nexamine patterns of success and the
\nproblems that traders have so that we
\ncan quickly identify what they’re doing
\nwell what needs improve and we can help
\nthat learning process so let me offer an
\nexample from our desk and with somebody
\nthat we work with that dr. Steenbarger
\nand I work with and this is a picture of
\nswang and this is a picture of swang
\nreceiving his Blackshirt
\nyou receive a black shirt you earn a
\nblack shirt on our desk if you make two
\nmillion dollars net in P&L; for the year
\nthat’s not over the course of your
\ncareer that is not before fees and and
\nexpenses this is net and recently swang
\nexperienced a rare
\na rare draw down a rare bout of
\ninconsistency in his trading and we took
\na look at the numbers he came in with as
\ndr. Steve Berger said his trader view
\nstats and he had many days in a row of
\nbeing inconsistent and negative which
\nwas unusual and from looking at those
\nstats dr. Steenbarger are said to swang
\ndon’t let your swing trading get in the
\nway of your swang trading he was taking
\non new and newly additional risk on his
\nswing trading and getting away from what
\nhe did well and what is so amazing but
\nyet so inspiring as you said dr. Steve
\nBerger is that this is somebody who is a
\nstar trader but yet but yet when he
\nstarted to do something outside of his
\nunique strengths his results materially
\nchanged and when he was pointed in the
\nright direction as to what his strengths
\nare by dr. steam Berger he got right
\nback into being that star traded he was
\nin fact he came into our monthly meeting
\njust the other day and was smiling
\near-to-ear about how he had just gone on
\na wonderful hot streak and had made four
\nhundred and forty plus thousand dollars
\nin the last 30 or so calendar days when
\nfocusing on him on swang being swaying
\nMike if I could just jump in here
\ntraders in the audience this is so
\nimportant what mike is telling
\nwhen we keep score and track our winning
\ntrades or losing trades what we find out
\nis our strengths we find out what we are
\ngood at as traders and the goal of
\nbecoming successful is to do more and
\nmore of the things that we are good at
\nas soon as we try to be someone
\ndifferent as soon as we get away from
\nour strengths the best of us like swang
\nbecome unsuccessful we can only be
\nsuccessful by being better versions of
\nourselves we cannot be successful by
\nimitating someone else are trying to be
\nsomeone different
\nmy side ended up very happy at the end
\nof the month he had gotten back to who
\nhe really another trader that we work
\nwith at the firm when he first started
\ngetting good asked to talk to our floor
\nmanager and myself about receiving
\nadditional capital for a particular type
\nof strategy and I asked our floor
\nmanager to chat with the trader about
\nthe topic so that I’m prepared and so I
\nknew before the meeting that the trader
\nwas going to ask for more capital for a
\nvery specific type of trading and before
\nthe meeting I have to admit between us I
\nwas not particularly excited about
\nhaving this meeting and having this
\ndiscussion on capital on a strategy that
\nI didn’t hold in very high regard I
\ndidn’t think it’s this particular
\nstrategy was something
\nyou really could build a career around I
\nwas skeptical that this trader should be
\nspending so much time and energy on this
\none particular type of strategy and so
\nwhat did that trader do well he came in
\nwith his trader view stats and he kept a
\nmeticulous stats for this one particular
\nstrategy and he dumped it on our
\nconference table in our conference room
\nin New York City and showed us his
\nresults and his results were phenomenal
\nhis equity curve as we say was straight
\nup all he did in the strategy was make
\nmoney and it was clear to our floor
\nmanager and to myself as to the
\nmanagement decision that we needed to
\nmake next which is absolutely we’re
\ngonna give you more buying power for
\nthis particular strategy but think of
\nyourself the way that I am thinking
\nabout managing somebody like this trader
\nwould would would I give this trader
\nmore capital without seeing really good
\nresults no I would not our firm would
\nnot should you give yourself more
\ncapital more risk on trades until until
\nuntil you have proven proven proven that
\nyou can trade these strategies
\nprofitably in real time you should not
\nand so just like we do at our firm prove
\nto yourself you can make money in a
\nstrategy measure measure measure the
\ntypes of strategies you’re trading and
\nthen and only then give yourself more
\nrisk for those strategies super-quick my
\ngreat great point we have to earn the
\nright to grow our trading and that’s
\nwhat keeping statistics and measuring
\nhelps us if you want to learn three will
\nsetups that our traders use including
\nthe simple setup that we teach all of
\nour new traders and the set up that
\nturned one of our traders into a
\nseven-figure big money earner check out
\nthe free webinar that we’re currently
\nrunning just go ahead and click the link
\nthat should be appearing right now at
\nthe top right hand corner of your screen
\nthat’s gonna open up this free
\nregistration page in the new window so
\ndon’t worry you’re not going to lose
\nthis video you’re gonna learn more in a
\ncouple of hours from this trading
\nworkshop then from years of online
\neducation now the next lesson is turning
\nour goals into plans when we review our
\ntrading at the end of the day at the end
\nof the week or month we’re trying to
\nidentify where we can make improvements
\nwe’re also identifying what we did well
\nduring that week or during that month
\nthat we want to keep doing and we turn
\nthose into goals look for ways we could
\nimprove in our trading
\nand that becomes a goal for the next
\nweek or for the next month
\nbut the goal does not have power until
\nwe turn it into a concrete specific plan
\nso it’s not enough to say oh I need to
\nmanage my risk better to control my
\nlosses better that’s not enough we need
\na plan that tells us how are we going to
\ndo that what specifically are we going
\nto do we are controlling our losses into
\na plan it becomes alive for us work that
\nplan our performance review true
\nperformance learning dr. Steenbarger
\nworks with some of the biggest
\ninstitutional hedge funds Big Money
\ntraders teams of traders in the world
\nand on a much much much smaller scale
\none of the things that I felt personally
\nthat I did well in 2018 was to become
\nopen minded to coaching a select number
\nof very elite traders outside of my firm
\nwe have lots to do at our firm here we
\nhave lots of great traders here but I
\nwanted personally to grow as a managing
\npartner as a coach as a trader and so I
\nstarted to work one-on-one with these
\nelite traders and there’s something that
\nbecame very clear to me getting a look
\nat the traders that are elite at SMB and
\nthen the traders that are elite outside
\nthe firm trading different products
\ntrading different types of markets and
\nso one of the trader
\nthis picture on the right is Austin
\nMitchum
\nwe call him Slayer that is the nickname
\nthat we’ve given him and he’s a he’s a
\nterrific Australian equities trader a
\nmarket that has nowhere near the
\nopportunity that the US markets has and
\nhe works at a hedge fund slash prop firm
\nin Sydney Australia and and I’ve had the
\ngood fortune to visit him on his trading
\ndesk and work with him on a daily basis
\nand one of the things that’s just so
\nclear to me when you work with these
\nelite traders is that they’re different
\nand they’re different in a very specific
\nway they’re different in that when you
\ngive them something to work on when they
\nidentify an area that they want to work
\non an area that they want to get better
\nat a goal that they want to turn into a
\nplan that they don’t just sit around and
\ntalk about hey how I would like to
\nimprove my stock selection I would like
\nto stop trading stocks I should not be
\ntrading they immediately and with
\nspecificity and with intensity draw up a
\nspecific plan as to how they’re going to
\ngo about doing that tomorrow
\nwhereas underperforming traders
\nunfortunately and I see this
\nparticularly in our monthly reviews or
\nwhen I’m at an event talking with
\nindependent retail traders
\nunderperforming traders talk more
\ngenerally they say well I want to they
\nsay I need to get better at stock
\nselection they say I really need to stop
\ntrading these types of stocks and then
\nthey kind of stop talking and they move
\non to the next idea no no no no elite
\ntraders are intense it bothers them to
\nthere
\nwhore that they are doing something like
\ntrading stocks they shouldn’t be trading
\nor trading setups that are not their
\nstrengths it bothers them to their core
\nit burns inside of them there’s
\nliterally physical pain it you can hear
\nif you talk to them or see in their
\nemails that they’re not living up to
\ntheir standards and so as dr. Steenbarger
\nare saying identify your solutions but
\nthen be specific about them and and and
\nstart executing immediately if you want
\nto be like these elite guys just one
\nlittle added point to that mic what you
\nsay is so true the really successful
\ntrainers I identify by what they are
\ndoing when the markets are not trading
\nwhen there’s no trading going on what
\nare they doing and the really good ones
\nare reviewing their training their
\nlearning their networking with other
\ngood traders they’re getting new ideas
\nthey’re working on their game just like
\nan athlete when a game is not being
\nplayed what are they doing they’re
\npracticing their work out they’re doing
\ndrills
\nthat’s what successful trainers okay
\nnumber 3s is our focus we focus on
\nprocess we don’t just focus on profits
\nand loss common ingredient among
\nsuccessful traders is that they develop
\nmany processes many routines for doing
\nwhat they do well they have a process
\nideas in markets they have a process for
\nfiguring out how to turn those ideas
\ninto tre
\nthat have a good risk reward they have a
\nprocess for sizing their positions and
\nmanaging risk and they have a process
\nfor their trading very consistent
\nconsistent processes
\nnow as Mike can share successful traders
\nnot only have trading processes they
\nhave personal processes in other words
\nthey have routines for running their
\npersonal lives and some of those
\nroutines involve getting good sleep
\ngood exercise joining their life outside
\nof training all of these things focused
\nand at their peak during their trading
\nso our time outside of training is
\nimportant have that in a process fashion
\nit’s our trading so this is shark and
\nthis is shark receiving his Blackshirt
\nlast year and shark we’ve been very
\nfortunate to work with and we’ve been
\nvery fortunate that some of the people
\nthat have applied and trained at our
\nfirm at a college or super talented
\npeople and in this case not just a super
\ntalented individual but but even a
\nbetter person and everybody wants to
\nlearn more about shark for those who
\nfollow SMB so I’ll tell you a little bit
\nmore about shark and I will hint to you
\nthat while you get a black shirt for
\nnetting over two million dollars we
\nprobably should have another shirt for
\nmaybe swang and shark because they
\nmade much more than that but one of the
\nthings about shark and in working with
\nshark stands out to me so clearly and
\nI’ll just sort of take a half a step
\nback
\nand set the context for it so at the end
\nof the year we challenge our traders to
\ncreate a yearly goal to create yearly
\ngoals for themselves in their trading
\nand then they present them to dr.
\nSteenbarger and myself and our floor
\nmanager and we meet in our conference
\nroom
\ntalk about the early goals that they’ve
\nmapped out for themselves and they do it
\nin front of their teams I do it in front
\nof the junior traders in this case four
\nsharks since he’s a senior trader and so
\neverybody puts it out there what they’re
\nworking on what their goals are what
\nthey hope to accomplish and so sharks
\nsent over his yearly goals after a
\nparticularly good year and when I read
\nwhat he wrote it just stopped me in my
\ntracks and he said and my goal is to
\nmake eight figures in the future that’s
\nnorth of ten million dollars and that
\nthat figure stopped me in my tracks
\nbut then what came next did as well and
\nand it’s and it was the more important
\nthought which is he didn’t just say I
\nwant to make ten million dollars in a
\nparticular trading year he then started
\nto lay out the path the track that was
\ngoing to get him there the things that
\nhe needed to do even being such an elite
\ntrader that was going to put him in a
\nposition to be able to accomplish to
\naccomplish that goal and so in the
\ntakeaway from somebody like shark is
\nthat here is somebody who after an
\namazing year is not satisfied and he is
\npushing himself to do better and he is
\nspecifically pointing out the things
\nthat he can do better at that’s gonna
\nhelp him to get to that next level so
\nwhatever level you’re at if you’re
\nsomebody who’s not even consistently
\nprofitable yet what are the things that
\nyou can do to help you to improve if you
\nare consistently profitable if you’re
\nmaking a hundred dollars a day
\nand that’s terrific how do you get to
\nthe point where you’re able to make you
\nknow more than that if you can make
\n$5,000 in a month how can you get to the
\npoint where you can make $10,000 in a
\nmonth and I can tell you that shark and
\nswang used to make consistently four to
\n$8,000 a month
\nafter a period of time that it took them
\nto get good and then they set new goals
\nand so think about think about what you
\ncan do specifically and your trading to
\ntake those next steps
\nmy kind jump in here again a really good
\npoint they are the successful trainers
\nare competing against themselves they’re
\nnot competing against the market they’re
\nsurely not competing against other
\npeople they are trying to improve their
\nperformance day over day week after week
\nmonth after month year after year
\nthey’re competing to be better and
\nbetter against their past and that’s
\nwhat moves them forward I’ll invite all
\nof you to go to our YouTube channel at
\nthe bottom of the slide is the link to
\nget there you can just go to youtube and
\ntype in SMB capital and on this point
\nabout the importance of process we share
\na video for the trading community about
\n20 habits that are essential to become a
\nhighly profitable trader it is a
\ntemplate that you can take a look at in
\nthis video and perhaps use for you
\nputting in a routine you putting in a
\nprocess for you to take that next step
\nin your trading it’s not meant to be the
\nthings that you definitely all should do
\nthese are ideas that are there for you
\nto consider many of these things we do
\nuse on the desk but I think the best way
\nto go about it
\nto watch the video check out our ideas
\nand then for you and this is my
\nchallenge to all of you listening and
\nwatching for you to come up with your
\nown routine what are the things that
\nyou’re gonna do every day that you’re
\ngoing to commit to that’s gonna help you
\nget better as a trader and that can’t be
\njust turning on your screens and trading
\nlive that’s not how these guys become
\ngreat it has to be as dr. Steenbarger
\nsaid what are the things you’re doing
\nafter and before markets what are the
\nthings you’re what are some of the
\nthings you’re doing in real time but
\ncreate that path those best practices
\nthat you can turn into habit that will
\ndrive that will drive your success that
\nwill drive your improvement okay Oh pick
\nit up Mike because we want to leave some
\ntime for questions answers next lesson
\nis sustaining our focus our attention as
\nwe know training can influence our
\nemotions there’s risk in training
\nuncertainty in training and it’s easy
\nfor us to get into a stress response a
\nflight-or-fight where we become anxious
\nwe become frustrated and those emotions
\ncan interfere with our decision-making
\nwhat we have found with the top traders
\nis that they know themselves they know
\nwhen they’re becoming frustrated
\nbecoming bored and they are able to step
\naway from trading temporarily to regain
\ntheir focus sometimes they do meditation
\nwith something like the headspace app
\nsometimes they do physical exercise
\nsometimes they just splash cold water on
\ntheir face and get away from the screens
\nbut the idea is that the priority for
\nthe successful trader is not trading a
\npriority is having a good focus having
\nsustained attention so that they can
\nmake the best decisions possible dr.
\nSteenbarger I actually think this is some
\nof your best work of late we sit around
\npeople like myself sit around and try
\nand think about how to help traders
\nimprove because we’re running a P
\nproprietary trading firm here and our
\nprimary business is if our traders are
\nnot making money then we’re not making
\nmoney and and potentially worse and so
\nyou make this just a stood point and
\nfocus on the idea of you know it’s not
\nabout necessarily passion it’s not
\nnecessarily about the number of hours
\nyou’re working it’s specifically about
\nfocus that leads to success and I find
\nthat to be so I find the way that you
\nshaped that idea to be much more
\nsophisticated and helpful than a lot of
\nthe stuff we’ve we’ve read in the past
\nwell thank you thank you and certainly
\non my blog the trader feed blog spot.com
\nthere are a number of sir sizes the
\ntraders can learn from to improve their
\nfocus the next lesson is teamwork
\nteamwork makes the dream work and what
\nwe mean by teamwork is teaming up with
\nother traders it might be at a trading
\nfirm like SMB on the trading floor
\nit might be online with people that you
\nhave things in common with but you are
\nreaching out to others and you are
\nsupporting each other you’re learning
\nwith each other you’re learning from
\neach other and that teamwork accelerates
\nthe learning curve when you are learning
\nyour lessons but also sharing in other
\npeople’s lessons you’re learning doubles
\nand triples and that’s what we find on
\nthe trading floor an SMB traders are
\norganized in teams
\nand the young traders learn from the
\nexperienced traders and everyone learns
\nby sharing their ideas out loud I’ll
\nshare this quick anecdote that you were
\ninvolved with dr. Steenbarger on our
\ndesk and so there is a terrific team
\nleader who runs a terrific team all the
\ntraders on this team are making the most
\nprogress at the firm the team overall is
\nsurpassing the performance of all the
\nother teams and there were a couple of
\nplayers on the team who I had some
\nstrong words for who were not fully
\ncooperating communicating collaborating
\nwith this particular team and I said to
\nthem you have this incredibly diligent
\nsucceeding team leader with junior guys
\nin the team all making tremendous
\nprogress more progress than anyone else
\nat the firm and yet that the two of you
\nhave this incredible opportunity to tap
\ninto this team this team leader and
\nyou’re not taking full advantage of it
\nand I just don’t understand that I don’t
\nunderstand how you could let that
\nopportunity slip away if for me I would
\nbe sitting right next to that team
\nleader and be involved in every
\nconversation that team was having and if
\nthey got up and went to lunch I’d follow
\nthem
\nin fact if they’ve got up and went to
\nthe bathroom I’d follow them too I’d
\nwant to be involved in more and I hate
\nit when you follow me in the bathroom
\nugh so we you know and and I have to
\nadmit it between between us friends I
\nhave to admit that I said it right there
\nand recap very differently than I
\nactually said it live as dr. Steenbarger
\ncan attest to yes and it’s
\nbecause the traders at our firm who are
\ndoing the best are doing it class
\noperating in teams this is both true as
\ndiscretionary traders this is also true
\non the automated trading side even the
\nautomated traders who are doing the best
\nat our firm are doing it in teams by
\ncollaborating last lesson so crawl walk
\nrun what that means is when you are
\nstarting out as a trader or as slowly
\nand small as possible so for instance
\nthe traders on the SMB floor start their
\ntrading simulation mode they trade real
\nstocks in real time and their score but
\nthey’re not putting any money at risk
\nthey are simulated trades their practice
\ntrades only when they do well in the
\npractice training to trade a small
\namount of money and then as they well
\nwith a small amount they grow and so
\nthey crush crawl then they walk and
\neventually they get quite a bit of money
\nand that’s when they run the whole idea
\nhere is that you want to make all of
\nyour mistakes as a trader when you are
\ntrading smallest you want to protect
\nyour capital protect your money during
\nyour learning curve so that once you are
\ntrading well that’s when you can take
\nmore risk and make more money I’ll just
\nmention one other quick idea and this is
\nvery important and Mike can certainly
\nspeak to this what I find in that crawl
\nwalk run process is that people not only
\nlearn how they trade well they work what
\nto trade it turns out that what people
\ntrade
\nis just as important how they trade some
\nthings are moving more than other things
\nSMB and identifying what we call stocks
\nin play and taking advantage of their in
\nfact a certain person I know has a book
\ncalled the playbook that describes how
\nthat is done a Mike’s book is very
\nhelpful in that way but that’s a big
\npart of crawl walk run it’s not just
\nlearning how to put on trades but
\nlearning what to trade I’ll supplement
\nwe said with two thoughts when the stage
\nare in there’s different stages that
\nyou’re going to be in as a trader focus
\non doing what’s necessary to succeed in
\nthat stage at our firm there’s a
\nfoundational stage so our traders take
\nSMB DNA and then they take s and be the
\nwinning trader when that stage be the
\nbest student in SMB DNA then there’s a
\nsampling stage where you’re trying
\ndifferent types of setups and trying to
\nfind your unique niche for instance
\nswang if you asked him or made him trade
\nlike shark would do very poorly shark if
\nyou made him trade like swang would do
\nvery poorly they both have unique
\ncognitive and personality traits that
\nthey want to tap into
\nthen there’s the adoption of technology
\nwe have great technology at our firm
\nfiltering scripting automated trading
\ntraders have to get their feet wet with
\ntechnology then traders are trying to
\nbecome a consistently profitable trader
\nand so the first book I wrote is one
\ngood trade
\nwe call that being a CPT but you’re
\ntrying to be consistent with your
\ntrading and so when I when I say win the
\nstage before you become a consistently
\nprofitable trader you should not be
\ntrying to be a really big trader you
\nshould not be trying to put on a lot of
\nsize with a particular trade that’s the
\nnext step sizing is that next stage and
\nthen the next step after that is breath
\nso you know we had a conversation
\nactually dr. Steinberg was somebody
\nwho’s super talented who were a little
\nbit confused about why he’s not doing as
\nwell as he should and he’s he’s really
\nnot yet consistently profitable and what
\nhe’s doing is he is trying to win the
\nstage of breath he’s trying to do too
\nmuch stuff when he should be focusing on
\nthe three trades that he’s best at or
\nthe four trades that you’re best at as
\nopposed to 15 different types of setups
\nthat all that’s happening there is he’s
\njust figuring out how bad he is as a
\ntrader when he tries to do to month to
\ndo too much and then there’s advance
\nbreath you want to win each of those
\nstages I am going to take an educated
\nguess that there are a lot of traders in
\nthe room who are developing traders and
\nwhat we have seen over the course of the
\nyears with developing traders is that
\nthey may not be as good as they want to
\nbe yet they may not be like a shark yet
\nbut remember shark and swang when they
\nfirst started started as people in our
\ntraining class they started going
\nthrough our foundation they started
\ngoing through SMB foundation and when
\nthey started live they didn’t make money
\nright away and in fact it took them you
\nknow a good nine months before they even
\nbecame consistently profitable and then
\nwhen they were consistently profitable
\nthey were making just
\nlittle bit of money and then even when
\nthey were you know kind of good yeah
\nthey were still making eight to ten
\nthousand dollars a month and then from
\nthere they were working on building that
\nup and so my point is this whole game is
\na process and if you’re not where you
\nwant to be at the moment focus on not
\nbeing discouraged by that but understand
\nthat is part of this whole process
\nyou’re not there yet
\nyou’re not a star trader yet but if you
\nkeep working if you put that process in
\nplace if you find your niche like swang
\nhas like shark has– if you put in a
\nreally good process if you put best
\npractices turn them into habit and are
\nconsistent with your execution you’re
\naround people that care about you and
\nthat support you and and and and that
\ncan help you and there are people that
\nhave gone on to have just extraordinary
\ncareers so not yet
\nI might just want little addition to
\nthat you’re so right
\nsometimes you have to try many different
\nstyles of training and you have to try
\ntrading different kinds of things before
\nyou can see what you are good at and
\nthat’s where the practice trading is so
\nimportant you try different styles it’s
\njust like sports you could be very good
\nat one sport and not very good at
\nanother one you could be very good at
\none type of trading and not good at
\nother styles you want to discover what
\nyou are good at and that often means
\ntrying different things I want to wish
\nyou a lot of luck in your trading and in
\nyour development and it’s been an honor
\nand a pleasure to be able to speak with
\nyou so now it’s your turn
\nwhich effective trading technique
\ndiscussed in this video are you going to
\nimplement
\nyou’re trading are you going to keep
\nscore of your trading or are you going
\nto turn goals into plans or perhaps
\nthere’s something else that you learn
\nfrom this video that you’re going to add
\nto your trading let us know by leaving a
\ncomment below right now
\n<\/div>\n

\"\"<\/a><\/p>\n

* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

In this video learn 6 essential trading lessons from top traders, that you need to learn. Dr. Brett Steenbarger, renowned trading coach, and Mike Bellafiore, SMB Capital co-founder, teach you these 6 crucial lessons from elite traders so you can dramatically improve as a trader. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":49345,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-49344","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\n6 Essential Trading Lessons From Top Traders You Need To Learn | 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\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 Essential Trading Lessons From Top Traders You Need To Learn | SMB Training\" \/>\n<meta property=\"og:description\" content=\"In this video learn 6 essential trading lessons from top traders, that you need to learn. Dr. Brett Steenbarger, renowned trading coach, and Mike Bellafiore, SMB Capital co-founder, teach you these 6 crucial lessons from elite traders so you can dramatically improve as a trader. * no relevant positions\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\" \/>\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=\"2019-12-09T21:34:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"smbcapital\" \/>\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=\"smbcapital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"26 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\"},\"author\":{\"name\":\"smbcapital\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/57cc9affbbb6763e0012594ad884b25a\"},\"headline\":\"6 Essential Trading Lessons From Top Traders You Need To Learn\",\"datePublished\":\"2019-12-09T21:34:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\"},\"wordCount\":5420,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg\",\"articleSection\":[\"Free Daily Trading Video\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\",\"name\":\"6 Essential Trading Lessons From Top Traders You Need To Learn | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg\",\"datePublished\":\"2019-12-09T21:34:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg\",\"width\":1920,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"6 Essential Trading Lessons From Top Traders You Need To Learn\"}]},{\"@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\/57cc9affbbb6763e0012594ad884b25a\",\"name\":\"smbcapital\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/smbcapital\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"6 Essential Trading Lessons From Top Traders You Need To Learn | 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\/6-essential-trading-lessons-from-top-traders-you-need-to-learn","og_locale":"en_US","og_type":"article","og_title":"6 Essential Trading Lessons From Top Traders You Need To Learn | SMB Training","og_description":"In this video learn 6 essential trading lessons from top traders, that you need to learn. Dr. Brett Steenbarger, renowned trading coach, and Mike Bellafiore, SMB Capital co-founder, teach you these 6 crucial lessons from elite traders so you can dramatically improve as a trader. * no relevant positions","og_url":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2019-12-09T21:34:58+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg","type":"image\/jpeg"}],"author":"smbcapital","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"smbcapital","Est. reading time":"26 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn"},"author":{"name":"smbcapital","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/57cc9affbbb6763e0012594ad884b25a"},"headline":"6 Essential Trading Lessons From Top Traders You Need To Learn","datePublished":"2019-12-09T21:34:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn"},"wordCount":5420,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg","articleSection":["Free Daily Trading Video"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn","url":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn","name":"6 Essential Trading Lessons From Top Traders You Need To Learn | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage"},"thumbnailUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg","datePublished":"2019-12-09T21:34:58+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#primaryimage","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2019\/12\/6-lessons-top-traders.jpg","width":1920,"height":1080},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/6-essential-trading-lessons-from-top-traders-you-need-to-learn#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"6 Essential Trading Lessons From Top Traders You Need To Learn"}]},{"@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\/57cc9affbbb6763e0012594ad884b25a","name":"smbcapital","url":"https:\/\/www.smbtraining.com\/blog\/author\/smbcapital"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/49344","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\/290"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=49344"}],"version-history":[{"count":2,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/49344\/revisions"}],"predecessor-version":[{"id":49347,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/49344\/revisions\/49347"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media\/49345"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=49344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=49344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=49344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}