There are two things traders should be doing today. Traders must be game planning for the next big trading opportunity about to hit. And they must have a very specific mindset for the outsized opportunity in this market.
View Video Transcriptthere are two things the traders should
be doing today hi I’m Mike Bell if
you’re a co-founder of SMB capital and
we’re a proprietary trading firm located
in midtown Manhattan and I’m also the
author of the trading classic one good
trait and the PlayBook traders must be
gain planning for the next big trading
opportunity about to hit and they must
have a very specific mindset for the
outsized opportunity in this market
[Music]
now nearly 500 points we need to be
thinking about game planning for the
next potential big event what do you
think that is Jake what do we need to be
game planning for yes yeah yeah so you
need to be game you need to be game
planning for right now what’s gonna
happen if it hits the wire that there
are a few corona virus cases or even one
in a major US city that’s gonna happen
what are you gonna do what are you going
to buy what are you gonna potentially
short what is gonna be your game plan
and this is something that you need to
be doing when there’s major events at
around the corner for lots of different
things so we’re going to talk about the
corona virus we could pluck that out
substitute it for an for next really big
event okay but we cannot sit there at
our desk when it hits the wire that in
New York City there are three confirmed
cases that individuals have been have
cuff contact at the corona virus and
then trying to figure out what to do we
need to know exactly what we’re gonna do
we even need to have potentially baskets
set up for what you’re going to do so
you’re literally just hitting a button
okay and you know and then from there
we’re gonna be open-minded but this is
gonna be a big this is a big breaking
news opportunity okay whether it hits
doesn’t matter whether it hits and it
works doesn’t matter but the idea that
you are thinking of the next big
opportunity does this is an exciting
opportunity and so we talked a lot about
risk management take your stops you guys
do a decent job of that some of you
better than others but risk management
has has two sides to the coin the other
side to the coin is to find the
– knees that you were really excited
about to me this is an opportunity you
should be really excited about if you
want to learn three real-world setups
that our traders use including the
simple setup that we teach all of our
new traders and the setup that turned
one of our traders into a seven-figure
big money earner check out the free
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you’re not gonna lose this video you’re
gonna learn more in a couple of hours
from this trading workshop then from
years of online education typical things
for new traders to be thinking about
I don’t think if to make this too
complicated what are you gonna do in spy
what are you gonna do in volatility are
you gonna think about maybe taking you
know one of the bigger high beta named
stocks in as well you know so are you
gonna are you gonna short spy are you
gonna buy volatility are you gonna short
one of the bigger names are you gonna
think about maybe something that’s
directly affected by a spreading of the
virus okay and then we’re gonna go from
there and you should be right now
reading about how potentially bad this
can get there are really really smart
people who run big big money who think
the market has not priced in the effects
of the coronavirus globally yet and
that’s coming and we’re being too
complacent to this point about where
we’re at you know we came in 4% we had a
little bit bouncy esterday now we’re
coming off a little bit today but there
are smart people speaking up about this
right now that does not mean they’re
right all right and then there are other
pretty smart people that are saying you
know this is really gonna just be like
the flu fred wilson somebody that i
talked to you guys about following
there’s a really good video about a talk
at johns hopkins which i’ll share with
you guys
you know the people that deal with this
stuff are basically saying yep lots of
people are going to get it where you may
prop you may potentially get it some
people are going to get pretty sick but
it’ll be fine
other people are gonna shake it off just
like a typical flu and that is that is
their thesis and so if that’s the case
then that informs how you might think
about trading this opportunity you’ll be
more open-minded to a bounce
you know you’ll be more skeptical since
volatilities up so much really laying
into the breaking news event when it
hits and a big US city okay but that
idea of game planning you guys gonna do
and I’ll just say one more thing about
this month relative to other months this
is probably going to come in at one of
the best trading months that we’ve had
as a firm not if not the best and for
you guys what that means is that this
can be a month where you hit that next
level as a trader
you should and know a lot of guys are
young and just starting out you should
you should hit that next level as a
trader this can be a jump start to
getting a level better getting to levels
better that never leaves you because you
because you hit these these different
milestones the opportunity and this
month is outsized you should be thinking
sit in your seat be patient wait for the
right opportunities when you see it go
for it but the numbers really should be
bigger and you shouldn’t be that
impressed when the numbers are bigger
that’s expected now it’s your turn what
will you do if the coronavirus hits a
big US city let us know by leaving a
comment below right now
* no relevant positions
