In a monthly review, a promising trader found an important area of improvement: build trades around the direction of the real trade. The trader in his monthly review wrote: Before the Open yesterday, our top trader was fielding trade ideas from junior traders on his desk. One junior trader offered an idea that was dismissed by the top trader. He … Read More
5 trading lessons from monthly reviews
At the end of each month, firm traders are encouraged to complete a monthly review of their trading. While reading firm reviews for April, 5 lessons stood out. Let’s discuss them. 1.Don’t turn bad days into worse One developing trader is working on limiting losses on his bad days. The thought is every extra dollar not lost on his bad … Read More
I want my business judged on MY trades!
I have been mentoring a futures trader recently. In a daily review (below), he provided feedback that mentoring encouraging him to focus on his best trades was powerful. I am working with a developing equities trader, who is very profitable when he focuses on his trade. He can tell you what it is. He writes in his reviews that … Read More
7 ideas for improving your trading consistency
I was recently a guest lecturer at Stony Brook University sharing my knowledge of trading and trader development with interested students. At the end of my lecture, a student approached and asked, “How can I improve my trading consistency?” We have polled our trading community for the top trading issues they would like to solve, and trading consistency consistently makes … 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
How do I start as a trader?
Recently I visited Pace University investment club to talk about the life of a proprietary trader. We make an effort to reach out to college trading clubs and college investment clubs and meet their members. Some of our best traders have come from these clubs. Also, college students rarely get to interact with a professional trader so sharing our experience … 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