Patience is a virtue we are told but do we believe it and cultivate it whether in or outside the charts? While it is indeed healthy to separate our trading lives from our daily lives the character traits of a successful trader, such as patience, will find their origin outside the charts. A successful trading strategy can no more develop … Read More
Add a Little Nuance
Hi Mike, hoping to borrow just a bit of your time for another trading question. I continue to find that the most difficult part of trading is deciding when to take off a winning trade. I believe the problem is that I am not confident and decisive enough in my plan when I enter trades. When it comes to my … Read More
Traders Ask: Are you concerned when a fellow desk member is on the opposite side of your trade?
Dear Mike, I just recently applied to SMB, and as my interest was piqued, I decided to do more research by reading your book. I was instantly hooked. It cleared up a lot of my misconceptions and, to be honest, made me feel a bit abashed about some of the answers I put down in the application. At the same … Read More
Improving Trader Performance: Sunday Links from Crosshairs Trader
“Most people have no idea of the giant capacity we can immediately command when we focus all of our resources on mastering a single area of our lives.” — Tony Robbins The single biggest mistake I see new traders make is believing in the principle of more is better. The more news the better; the more time frames the better; … Read More
Where is my arc?
Guest Post from SMB Blog Reader Yaniv Hamo One of my favorite thinking exercises is about what it means to be living as opposed to merely exist. The essence of what separates the living from the grey masses. Working 9‐5, family and kids, watching TV and going on trips – does not make the cut. That’s what the masses are doing. … Read More
Improving Trader Performance
It can be successfully argued that stock trading is pure gambling. While there are similarities, the successful trader will note the differences and similarities thus enhancing his or her performance by 1) focusing on the process, and 2) understanding the nature of the markets. In the following, I list several opinions about stock market speculation, provide a problem gambling test, … Read More
Are you a virtual trader in isolation?
Below is an email I received from a Romanian intraday trader involuntarily in isolation. 1) Great anecdote about a foreign trader finding their path. Enjoy the story. 2) Any ideas to help this trader escape isolation? 3) Any Romanian traders (or other virtual traders) wish to start a virtual trading group? Leave a comment below. Dear Mr. Bellafiore, I thank … Read More
Where would you have sold?
I received this email last night about an excellent risk/reward opportunity in PM. The SMB Reader below is asking all the right questions. But I ask you for a fun exercise. Where would you have sold? Hello mr. Bellafiore, Thank you very much for sharing your trades and ideas in SMB blog. I am reading it every day and it … Read More