There is a Green Shirt that hangs on the wall of our trading floor. You earn the Green Shirt for posting 1m net in trading profits. And then there is the Black Shirt. For that a firm trader must earn north of 2m in net profits. The firm challenged the trader above, a Black Shirt recipient for 2017, approximately 4 … Read More
What worked well on our trading desk in 2017
2017 was a very strong year for our trading desk in NYC. After such a strong year it is important to study what went well so we can do more of it in 2018. So what worked well for our trading desk in 2017? Team Trading Senior traders who embraced building Teams made more. Junior traders who were willing to … Read More
Top Blog Posts of 2017
Here are the top blog posts of 2017 from SMB: This retail trader just crossed 100k in trading profits The Failure Rate of a Proprietary Trader Relative Volume (RVOL) Defined and Used STP Vs. ECN The End of Volatility Traders ask: VWAP? Beginner’s Guide to Call Options: How They Work and What Happens after You Buy What I Learned From … Read More
Are there less opportunities in this market into the close for traders?
A reader asked: Hello Mike. I have been involved in trading for a number of years and follow your youtube channel with interest. A quick query when you have some time. Going back a few years, the main ‘focus’ for trading (mainly using the tape) was on the open and the first hour of trading. Then also the last hour … Read More
Trade your PlayBook for improved consistency
I received this email from a trader: Hi Mike, Terrific piece yesterday on trader development. You have a wonderful way of clarifying things. Step 1. Build your playbook of trading ideas Step 2. Become consistent trading these plays. I have come across the word “consistent” more and more frequently but have never fully grasped just how important it is. Dr. … Read More
First comes…..next comes…..then comes……for the developing trader
Getting your priorities correct really helps shape the trading day for optimal progress. One trader with, with whom we are working, is coming along nicely. Firm is happy with his progress. Our sense is he has a real chance to become good. Our job is to help him set priorities. Is that to make money? Or is that something else? … Read More