Hi Mike, I’ve been reading The PlayBook and saw a few mentions of SMB’s growth in the area of algorithmic trading. I am a programmer and have been working on some of my own trading algorithms. Right now I am building algorithms to work with (website redacted per request) but I’m finding some limitations with their platform (for example, it … Read More
Unleashing the Power of Professional Charting for Traders
Q: I’m getting ready for the DNA program. Going through what I have so far, I have two questions maybe you can advise me on: 1. Basic IT suggestions for hardware, RAM, processor, etc, for optimal performance off the computer to match what the SMB desk is doing. I’ve been using an Apple computer and now I (obviously) need to … Read More
I Am Worried About Dark Pools
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
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
From The PlayBook: Trade a Bigger Account
This latest excerpt from The PlayBook comes from Chapter 9: “Iceman: No Guts, No Glory”: — So let’s say that now you can risk 30 percent of your intraday stop loss and hold for the real move. Next you want to get even bigger. At this point, most incorrectly focus on adding share size. So if 5,000 was your biggest position, you … 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