What will they say about you after your trading career? I was interviewing a female retail trader for a spot on our desk and asked her one of my standard questions. She was self-taught, a single mom, former teacher, living in the Dallas/Forth Worth region and posting consistent six-figure returns, with a small trading account. I asked: who is your … Read More
3 steps to win as a trader
In a previous post, I suggested this video on how to win, by Brett Ledbetter. How do we apply the lessons from this video of performance wisdom and apply it to our trading, so we improve? How does this video help us win as a trader? Consider three simple steps to improve as a trader and start winning: 1) Determine … Read More
Lessons learned in Chicago from experienced traders
Lessons Learned in Chicago From Experienced Traders from smbcapital This week I visited Chicago and with experienced traders covering different products and in different structures. I visited with traders at hedge funds, prop firms, broker dealers, trading education centers, independent traders, exchanges, and institutions. These seasoned veterans expressed their ideas in options, futures, stocks, automated trading, and international markets. … Read More
Here is how you win as a trader
Below is wonderful video for you to watch to help build your inner coach from Brett Ledbetter. Take 15 minutes and watch it this weekend. It will give you many ideas to improve as a trader. Now the subject matter in this video is sports performance. Sports after all is a performance game. Trading is also a performance game. … Read More
Podcast: How to find your trading edge
Above is a podcast for which I was interviewed on generating trading edge and below are it’s details from the podcaster. Episode 34 of the Desire To Trade Podcast features Mike Bellafiore, the co-founder of SMB Capital, a well-known proprietary trading firm based in New York, USA. Mike is also the author of One Good Trade: Inside the Highly Competitive … Read More
It’s a shame I got stopped out
Here is an exchange on our trading desk in NYC today. Trader: She got stopped out of her position today. It’s a shame because the market has pulled back in a bit. Me: You have to trade with stops. If you were stopped out and then thereafter a stock/product/market traded in your direction too often trader laments their bad luck. … Read More
Why this trader succeeded while most fail
Recently, I exchanged emails with a successful prop trader at a Tier 1 firm. I have known him since he was deciding whether to pursue trading, while still in college. We have kept in touch during his trading career. He has become a *very* successful trader. I asked him to share his thoughts on why he became successful. Here is … Read More
My trading is “garbage”
Hey Mike Couple of things….I’m reading my way through The PlayBook and felt I should send this GIF along…. Don’t know if I should laugh or cry at the garbage I trade. Again, my background over the years was to make $ trading the crap. its where I had an edge….. Obviously I no longer want to trade this way, … Read More