{"id":51644,"date":"2022-10-19T11:22:13","date_gmt":"2022-10-19T15:22:13","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=51644"},"modified":"2023-06-08T15:18:32","modified_gmt":"2023-06-08T19:18:32","slug":"1-mistake-traders-make-before-leaving-a-trading-session","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/1-mistake-traders-make-before-leaving-a-trading-session","title":{"rendered":"The #1 Mistake Traders Make Before Exiting a Trading Session: Insights from Transparent Traders"},"content":{"rendered":"

There is a mistake I repeatedly catch on Trading Twitter and even to a lesser degree on our proprietary trading desk.\u00a0 From my seat, this is the #1 mistake traders make before leaving a trading session.\u00a0 Let me share this #1 mistake.\u00a0 And then challenge the trading community for all of us to be better…together.<\/p>\n

I was scrolling through Trading Twitter recently when I noticed a beginner trader being unusually transparent about a big trading loss.\u00a0 As my friend Joe Fahmy joked at Traders4ACause, “I am on Twitter so I don’t take losses.”\u00a0 That is what I mean by this trader was being unusually transparent.<\/p>\n

\"\"<\/p>\n

And this unusually transparent trader was met with the “you will be back stronger(s)” and “hang in there(s)” and “sorry bro(s)” responses.\u00a0 And after reading this transparent trader’s tweet, I thought to myself “no he won’t”.\u00a0 And this trader seemed like a nice guy.\u00a0 And I am certainly not rooting against him.\u00a0 And I don’t mean to be overly harsh, but rather helpful.\u00a0 This trader was NOT going to get better.\u00a0 And the well-intentioned responses were NOT actually gonna help this trader.\u00a0 There was something severely lacking in this unusually transparent trader’s tweet.<\/p>\n

On this topic, recently, I challenged the trading community with this tweet:<\/p>\n

\"\"<\/p>\n

The responses were so interesting.\u00a0 And they highlighted an important difference between the elite trader from the fledging trader.\u00a0 Traders were so observant of what they did poorly.\u00a0 They spotted their problems so well.\u00a0 They were transparent in a public forum about their weaknesses, which takes guts.\u00a0 But their answers to the question posed by me above were as incomplete and PNL stifling as the unusually transparent trader above.<\/p>\n

What mistake did that unusually transparent trader make?\u00a0 What mistake did the respondents to my questions above make?\u00a0 What is one difference between the elite trader from the fledging trader?<\/p>\n

The unusually transparent trader identified what he did wrong.\u00a0 He did this well.\u00a0 But he NEVER posed a solution for his trading underperformance.\u00a0 Traders who answered my tweets questions spotted their trading issues remarkable well.\u00a0 But, almost all, FAILED to answer that second part of my question: How can you solve this trading issue?\u00a0 They just shared what they needed to work on.\u00a0 And they skipped over the most important part- solving the problem.<\/p>\n

Yikes!\u00a0 We have to stop doing this in the trading community.<\/p>\n

Elite traders identify their trading issue and then develop a solution to improve their underperformance immediately.\u00a0 They do not leave a trading session without their solution (see tweet below).<\/p>\n

\"\"<\/p>\n

Nightly, many traders on our desk send me their Daily Report Card, reviewing their trading day.\u00a0 Often I mentor to these traders:<\/p>\n

Good job observing a trading challenge.\u00a0 Even better if you offer a solution.<\/p>\n

How the Daily Report Card Helped Legend Become the #1 Trader (Prop Firm)<\/a><\/p>\n

Further, @TheOneLanceB the #1 trader at a tier 1 proprietary trader, shares with the trading community what made him different and confirms the importance of finding solutions to your trading issues (see below).<\/p>\n

\"\" Also, this is why when I moderated a chat between four elite traders at Traders4ACause, we focused on offering solutions to trading challenges to the attendees to thrive in 2022 (see below).<\/p>\n

 <\/p>\n

Let’s be more constructive as a trading community…together.\u00a0 I propose three solutions:<\/p>\n

a) When you transparently tweet sharing a losing day or trade, add a solution to your trading underperformance.\u00a0 And seek feedback on this solution.<\/p>\n

b) When you spot a trader sharing a big loss, challenge them to suggest a solution to their trading underperformance.<\/p>\n

c) Applaud the traders both sharing AND offering solutions.\u00a0 Let’s stop applauding the traders who are just sharing big losses.\u00a0 Let’s push them to be better…together.<\/p>\n

From all of us at SMB, train and trade well.<\/p>\n

Important disclosures<\/a><\/strong><\/p>\n

Mike Bellafiore is the Co-Founder of SMB Capital, a proprietary trading desk, and SMB Training, which provides\u00a0trading education<\/a>\u00a0in stocks, options, and futures. Bella is the author of\u00a0One Good Trade<\/em>\u00a0and\u00a0The PlayBook<\/em>. He welcomes your trading questions at\u00a0mbellafiore@smbcap.com.<\/p>\n

 <\/p>\n

 <\/p>\n

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

There is a mistake I repeatedly catch on Trading Twitter and even to a lesser degree on our proprietary trading desk.\u00a0 From my seat, this is the #1 mistake traders make before leaving a trading session.\u00a0 Let me share this #1 mistake.\u00a0 And then challenge the trading community for all of us to be better…together. I was scrolling through Trading … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":51651,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5463],"tags":[5595,30,5596,5594],"class_list":["post-51644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bella-daily-update","tag-1-trading-mistake","tag-prop-trading","tag-trading-challenge","tag-trading-mistake"],"yoast_head":"\n1 Mistake Traders Make Before Leaving Trading Session | SMB Training<\/title>\n<meta name=\"description\" content=\"Discover the top mistake traders make before ending a session. 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