Last Friday as I was walking off our trading floor, a beaming SMBU student yelped at me, “Bella I could hug you after today.” He was very pleased with the progress he had made as a trader. Fast forward to today and that same trader caught me hitting the elevator for my walk home. I asked him how trading went … Read More
What this new trader learned on Day 1 (166 lessons)
Our new class started part I of their training this week, with the SMB Foundation. Some say, “The only way to learn how to trade is trade.” Here is some evidence contrary to that position. One trainee with past trading experience sent me his notes, without solicitation, as to what he learned on Day 1 of our training program. He … Read More
40 trading lessons from The PlayBook
An experienced and successful trader is starting with our desk, powered by Kershner Trading Group, next month. He is one of the more diligent traders you could meet. I have compared him to Tim Tebow in One Good Trade for work ethic. He just powered through One Good Trade and The PlayBook to improve his trading game and better prepare … Read More
Things heard on the prop desk this Monday
Monday’s strength was surprising to some prop traders on the Street, after the huge down move Friday. Let me share some things heard on our prop desk, and then make a trading point. Me: didnt expect today Trader: it’s just so annoying Me: yes yes yes. but good example of…..its our job to trade the market not expect the market … Read More
Man I stink!
There are four traders in our September trading class, chosen from thousands of applicants. 16 days into his trading career one our new traders wrote this review: At the start of your career you are supposed to stink. The path of many traders is: 1) lose too much 2) lose less 3) flat 4) slightly positive 5) consistently positive 6) … Read More
Working hard may be getting in the way of your trading success
You say: I want to be a professional trader. I need to work as hard as I can to accomplish that goal. I will outwork everyone at my firm or in my trading community. There is a problem here. Catch it? To accomplish your goal working as hard as you can will not help you accomplish your goals. That will … Read More
There is another way to a higher PnL
In this blog post, I will challenge you to find another way to a higher PnL. We will use a trade review from a conscientious trader to teach this principle. This is a common mistake of stunted thinking made by developing traders. It is one where human nature leads us against our self-interest. If you can learn to think differently … Read More
Here is how you trade bigger
Hi Mike, I am quite consistent stock traders for years. I have a trading matter that needs your professional advice. I have the tendency to go ‘big’ in size when I have the profits in my account or when a particular stock that I familiar with which I had been making consistent money from it. When under this situation sometimes … Read More