Mike, I’m reading your book – One Good Trade – for the second time. In Chapter 3 you describe how your firm selects candidates and how much this process is inadequite. Why don’t you just let people papertrade (remotely from home) with your platform and see who does best? I understand your concern trying to select person with the best … Read More
Lessons from my Adventures as a Nanny Trader
I came home last Tuesday to the news that my wife had dismissed our nanny. I was not aware this was about to happen. There was no replacement, save her and me for at least two weeks. Oh. A scheduled short vacation to our family condo in Clearwater Beach consumed some of these two weeks. And then came this … Read More
Your Head is Fine But Your Strategy Stinks
One of our very bright new traders asked to chat about trade psychology. He feared his needed help and wanted to seek my advice on a trading psychology coach. Many of our traders work with psychology coaches. The results are often very positive. I asked the trader to stop by my office for a chat to see if his issues … Read More
Let Me Help Save You 50K
Mike, I am only thru day 4 of your 10-day beginner lesson plan, so forgive me if you have covered this in the 10-day course or The PlayBook, which I will start this weekend, but do you have any advice for newbies on certain investment (trading) vehicles to stay away from until we are weaned so to speak? I am … Read More
SMB Trade of the Week: PLUG
Mike Bellafiore, author of the “trading classic” One Good Trade and The PlayBook, talks about his SMB Trade of the Week in $PLUG. This stock was highly in-play this past week, presenting some great trading action which the desk was able to take advantage of. Highlights from this trade: 1) There were many variables involved in this trade – the big picture, technicals, … Read More
Trading in a State of Flow
Mike Bellafiore, co-founder of SMB Capital, spoke to students at Pace University about trading and the need to start early while they’re in college if they want to get an edge in trading. In this short clip Bella discusses the concept of being in a state of flow. Flow by Mihály Csíkszentmihályi is a must-read book. A state of flow occurs … Read More
What Comes Next for the Profitable Trader?
Hello again, Mike. I have a couple questions for you. First question: How do I overcome psyching myself out of the layups? I’m working to overcome an interesting challenge. I’m faking myself out of trades, or not taking them because they seem too obvious. It’s right on the boundary between a) trading my plan and taking my signals and b) … Read More
I Am Not Becoming as Good a Trader as I Expect Fast Enough
Hi Bella, I’ve been making some very steady progress since doing the DNA program last year. My monthly metrics show incremental improvement, and I’ve been enjoying putting in the work each and every day. Joining the SMB VTF has been a huge benefit, and communicating regularly with some of my DNA group has also been very beneficial. Today I encountered … Read More