This is part 1 of our trader survey that breaks down the results from our trading community. You will be amazed at what you learn about the challenges and successes that traders in our community are having.
A trick to trade bigger
“If you can’t sling around 80k shares than why bother?”- Trader Anonymous On the desk this past week one Senior Trader hit 80k shares for a scalp and a few junior guys giggled at seeing a trader take such size. It was a scalp. And it was a scalp in a stock under $2. So let’s put the size in … Read More
Trading lesson learned from a large loss
I am proud of a trader on our desk. He got stopped out in FNSR. In a trade that he should not have made. The trade is too fast for him. (Learn more about trading edge in this video.) He violated his stop loss. He got caught like a deer in headlights as the trade went against him. That is … Read More
It’s never just patience
Often I hear traders decry their lack of patience. If they were only more patient, they would win. From my seat, there is more to add to these thoughts of trading frustration. You might hear commonly on a trading desk, “I JUST need to wait for my levels.” Again the idea is if trader just waits for his levels he … Read More
The first test for a new trader
You get hired for June on a trading desk. You take The Foundation, a 6 week course. You learn everything you didn’t learn in school, the internet, blogs, cable TV (just kidding), your uncle, and/or trading gurus about the markets necessary to place professional trades. Then it’s on to Trader Development where for the next 6 months you experiment with … Read More
Boring old habits
Ray Allen, former NBA basketball great and UConn alumn, penned a letter to his younger self with the advice: stick to your boring old habits. He wrote movingly: You’ll win a championship in Boston. You’ll win another in Miami. The personalities on those two teams will be different, but both teams will have the same thing in common: habits. Boring … Read More
Why this special trader failed to hit his stride with us
One of our special developing traders failed to hit his stride with us. He worked as hard as anyone at the firm. Everyday he sent me his in-depth daily trading review to my inbox. His reviews set the standard for Junior traders. He worked on his trading game in college, before he arrived at SMB. I have strongly advocated for … Read More
Trading bigger is much easier than trading with edge
Trading bigger is much easier than trading with edge. I am working with a developing trader, nearing 15 months of live trading. He is starting to trade with edge. I am seeing 3/5 days of trading profitably. I am noticing in his reviews a specificity of setups that he is trading. He is not trading for stocks to finish higher … Read More