RE: Should we be concerned with all of the volume being done on dark pools as retail traders? @MikeBellafiore SMBU recently sent a survey to the SMB Trading Community asking of their trading frustrations. From this survey we ferreted out the top five trading frustrations. Then we held a Webinar to offer solutions. Here is a link to that … Read More
This is a Detailed Trading Plan
Q: How many pages is typical of a sufficient detailed trading plan? And how might one go about SIMPLIFYING to focus on what matters most? @MikeBellafiore SMBU recently sent a survey to the SMB Trading Community asking of their trading frustrations. From this survey we ferreted out the top five trading frustrations. Then we held a Webinar to offer solutions. … Read More
What Does the Average Day Trader Make?
Q: What does your average day trader earn in percentage terms per year? @MikeBellafiore SMBU recently sent a survey to the SMB Trading Community asking of their trading frustrations. From this survey we ferreted out the top five trading frustrations. Then we held a Webinar to offer solutions. During this Webinar we were asked the question above. In One Good … Read More
Ask The Trading Doc: How Do I Take On More Risk?
Hi, Mike. Thank you very much for writing The Playbook. I thoroughly enjoyed it and my own playbook is coming together nicely. I’m curious if you have any thoughts on what a trader can do to shift their psychological skew from Afraid to Lose to Afraid of Missing Out? Is it just a matter of screen time and repeatedly/mechanically taking the A+ … Read More
The Trading Technology You Must Have
Mike, I’m in the first day of the equities foundation course and I have a quick question: What trading software is currently being used for intraday? Is this something that I get access to through SMB? Thank you! @mikebellafiore We use proprietary trading software Gr8 trade. It is only available to our in-house traders on our prop desk in NYC. … Read More
What Is the Right Risk/Reward For My Trades?
What is a good ratio to start out with, 2:1, 3:1? @mikebellafiore I was asked this question during a recent Webinar, “Trading Fundamentals: Things Great Traders Do and Never Do”. We teach our new traders to look for a risk/reward of 1×5. That means a downside of 1 for an upside of 5. More specifically you might risk 10 cents … Read More
Getting Into Trading Shape: A Trader’s Story
Hi Mike, September 1st 2013 makes it three years that I have been trading full time. I’m writing this email to seek your experienced trader’s counsel. I don’t have any job and I’ve been thinking about my experiences trading, which for the most part have left me bitter. You must be wondering how I’m still continuing to trade after three … Read More
Do Not Sell This Position
Hi Mike, First of all I would like to thank you for writing The Playbook! I’m not quite through it, but I’m already finding it extremely helpful and valuable. I wanted to share some challenges i am currently having regarding a situation where there is conflict between certain rules I follow for establishing when to close a position and one … Read More