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 II!
The feedback I received was decidedly positive that Man I stink! was very helpful for traders. It placed in context the challenge many face to become consistently profitable traders. The new trader wants so badly to be a successful trader. Most have succeeded at most things in their life prior. They expect success quickly. And it does not work like … 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
Reading the Tape is all you need
Reading the Tape is all you need! For some trades and some traders that is. One savvy trader in an email exchange with veteran traders, said it so well: When we teach our new traders to make trade decisions, we ask them to consider 5 variables: The Big Picture Technical Analysis Reading the Tape Intraday Fundamentals Intuition On most trades … 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
Is Reading the Tape still important?
Hi Mr. Bellafiore, I can start by saying this is a huge honor being able to write to a legend as yourself in the world of stock market trading. I read your book One Good Trade and am on the way to reading The PlayBook which are hugely influential course materials on the subject matter of trading as I’m … Read More
Managing your swing positions/trades better
Hi Mike, I met you last 2 weeks at Singapore Invest Fair. I am deeply impressed with your presentation and your New York traders trading ways. Personally, I am a prop house day scalp traders for Malaysia stock market for 8 years.my performance for the scalp trading is quite consistent and keep on growing. I have a matter need … Read More