Should this trader quit?

BellaMike Bellafiore's (Bella's) Blogs23 Comments

I received this email recently: Hello.  This is a retail level trader with almost 3 years of trading experience in s&p mini futures.  During those grueling 3 years, I’ve suffered nearly 25k in losses, most during the 2008 crash where emotions got the best of me.  Since then, I have learned the importance of risk management and now I am at a point where my … Read More

The unprofessional summer trader

BellaGeneral Comments14 Comments

This is the time when all the tweets and blogs start about hitting the links, or grabbing drinks early, or heading for the beach.  If you have ever traded prop at a big firm you will see seats empty on Friday after 1pm.  There will be many who do not come back from lunch on a Thursday.  Missed Mondays and long … Read More

What do you need to fix first about yourself before you can become a better trader?

BellaGeneral Comments2 Comments

I was at dinner last night with a highly successful manager.  She had just landed the top account at her multi-billiondollar financial firm.  Over fettuccine noodles and chicken Pad Thai she continued that the firm contemporaneously placed her into a special training program for their star performers. Her boss warned that the program would be difficult, expose her weaknesses and uncover uncomfortable things about … Read More