Before I started SMB I could be found after work for hours playing pickup basketball at the exclusive Reebok Club in NYC. I loved the competition, the guys who played regularly, and trying to get better in my early thirties at a sport I enjoyed. It also left me in remarkable physical condition, just a few pounds from my high school … Read More
In a Perfect World
Say a billionaire approached you and asked: in a perfect world what would you need to be your best trader? Assume you worked at a prop firm so any of this would also be available for your fellow traders. He would offer an open checkbook. You would trade and focus only on growing your P&L. Here is my partial list: 1) … Read More
Move On After a Trading Session
In Buster Olney’s latest column he offers an interesting thought for us as traders: move on from a trading day. Into The Close and on The Open most traders are in a state of heightened focus. It would be exhausting to stay in this state all day. We would burn out quickly attempting to stay so intensely focused. Buster asked … Read More
Is Trading Your Passion? (a Quiz)
I’m often asked what I most look for in a future trader. I answer, “A passion for the markets.” I advise all who receive an invitation to join our firm to politely decline if you do not have a passion for the markets (they may have tricked us 🙂 ). I implore those considering trading as a profession to spend some … Read More
Delisting Stress
Traders can do themselves a huge favor by regularly engaging in stress reduction efforts. Some of these include regular exercise, good sleep habits, proper nutrition, leading a balanced life with interests outside of trading, stable personal relationships, meditation, biofeedback, and others. and then….. The main idea is to DO SOMETHING (the more the better) to inoculate oneself from extreme stress … Read More
Find the Setups That Fit Your Personality
“My style on the chessboard was a direct expression of my personality.” And then: “I believe that one of the most critical factors in the transition to becoming a conscious high performer is the degree to which your relationship to your pursuit stays in harmony with your unique disposition.” These quotes are from The Art of Learning: An Inner Journey … Read More
On the Tenth Day
Elliot Wave, one of our new traders, was going for his tenth consecutive positive trading day. It was not to be. He sent me an email why. Why I Failed to Make 10 Days in a Row Positive On the Open today, I thought I could replicate the success of past momo trades I was focused on making a huge chop … Read More
A Trade from Brazil
A Reader from Brazil shared this trade that he made today. He uses some principles learned from One Good Trade and the SMB Blog to find this set up. Often we are asked if our trading principles apply to other products. I am most asked if Reading the Tape applies to other markets. That is up to the individual trader … Read More