Sometimes the best trades just come to you. Today was a perfect example in SUPN. During our 11AM mentoring session with our new class, we discussed this important trading lesson. Yes! we need to prepare before the open. Yes! we want to develop theses for trades. Yes! stock selection best for you is important before the market opens. But we … Read More
How to improve your discipline as a trader
A new trader wrote this to me: Noob (trader here). Two months in with maybe a total of 3 days where I consistently followed my rules. Down about 2k thus far. I am questioning my ability to do this. Mainly because of my lack of discipline in following my rules. There is the old parable about the frog that asks … Read More
When you are trading well…..try this
During a daily review one of the firm’s top traders observed this about this trading: I am feeling confident about my trades, seeing the markets well, and want to leverage this period here to trade aggressively as long as I am staying in sync. Dr. Steenbarger has taught us traders to study, study, study the trading periods when you are … Read More
Optimizing Discretionary Trading with Automation
At our firm, traders can be discretionary traders, automated traders or hybrid traders. Discretionary traders push the buttons and make their own decisions. Automated traders develop and idea, backtest, forward test, and then let computers run the strategy. Hybrid traders do a little of both and use technology to inform better discretionary trading. Often we hear in the Financial News … Read More
5 ways our top traders are working to improve
I was on the West Coast last month to present to the Scottsdale (Phoenix) Traders and Investors Meetup Group. After my presentation, an astute and succeeding retail trader approached and asked, “What do your top traders do to improve?” At SMB, our top traders have been homegrown. We hired them. Trained them from scratch. Provided capital, technology, coaching and … Read More
Bring a consistent you to markets to improve your trading
Trader wants to improve his trading consistency. (Please assume Trader has some edge in markets.) Trader might double down on their efforts to perform better during market hours. If I just focus better. If I just take only A+ trades. If I just wait for my trades more patiently. If I just use this indicator. If I just size … Read More
Journey of a Successful Retail Trader: Crossing 100k in Trading Profits
Last month on Twitter, I spotted this tweet and impressive equity curve from a developing retail trader: As the managing partner of a proprietary trading firm in NYC, I study traders succeeding. This retail trader is succeeding! I reached out and asked him a few questions (in bold), hoping to learn from his success. Below are his answers. Who are … Read More
8 lessons from the prop desk (The 2017 TradersExpo NYC)
At the 2017 TradersExpo in NYC, I shared 8 lessons from our prop desk. As a partner at a prop trading firm in NYC, I have the privilege of watching many traders grow from new to consistently profitable trader to high performing trader to even better. I see how they succeed and why. I share their obstacles and together we … Read More