I was asked to speak at the TraderExpo next week by LightSpeed on this topic: Getting Started as an Active Trader. Here are my bulletpoints on what you need: 1. Domain Knowledge 2. Intrinsic Motivation 3. Critical Feedback 4. Purposeful Practice 5. Luck 6. Talent 7. Growth Mindset 8. Your PlayBook 9. Value-Add Environment 10. Mentor What do you think … Read More
I Had My Worst Day Ever
From time to time I get an email from a trader whose results were awful. They might say: Bella, I had my worst day ever. I sized up and got crushed. Or Bella, I had my worst day ever. I took my biggest rip ever. Or Bella, I had my worst day ever. I got stopped out on one trade. … Read More
A Path to 1k
Yesterday we challenged some new traders to review their day and create a path to 1k. Making more is about finding the set ups that make sense to you and trading them with more size and more often. This exercise guides the new trader to singularly focus on these trades and the mindset of doing better. One new trader sent … Read More
Expectations: A Conversation with New Traders
After the close I had this discussion with some new traders: Expectations are so important in skill endeavors. What would be a great day for you? Making more is really about finding the plays that make sense to you and trading more of these set ups and with more size. There is no secret formula to this. Each person must find … Read More
An Opening Dive, a Pullback and a Breakout (RL)
We had excellent news from RL this AM: Here are some trades you might consider making your own: 1) Opening Drive. If RL doesn’t tick down on the open and their is protection on the bid, then pay the offer and play the momentum. 2) The Pullback. So you missed the opening drive and still want in with this RL. … Read More
Traders Ask- 5m Chart to Read the Tape?
Question: Gents, ‘ve been looking a lot at volume lately and would appreciate your insight. Would it make sense or enhance our trading if a trader used a chart that showed at what past price most of the volume occurred at during a particular timeframe. For example if over a bar of 5 minutes a stock moves from 8.50 to … Read More
First Visualize Yourself Being Great
Recently we shared an awesome video interview with legendary guitarist Steve Vai on how to become successful thanks to Z$. Reader Derek was so generous to shoot me an email on another gem from Mr. Vai (see below). Here Vai, like NCAA leading scorer Jimmer Fredette, preaches the importance of visualizing yourself being great as a catalyst to becoming great. … Read More
Triggering Elite Performance
Most of the trading literature teaches us to find ways to eliminate our negative emotions when we trade. At SMB we ask our newbies to make a list of things that may cause them to trade on tilt. Then we prescribe visuali-zation exercises to develop the emotional skill to eliminate and control these triggers. I had lunch recently with a world-class … Read More