Ray Allen, former NBA basketball great and UConn alumn, penned a letter to his younger self with the advice: stick to your boring old habits. He wrote movingly: You’ll win a championship in Boston. You’ll win another in Miami. The personalities on those two teams will be different, but both teams will have the same thing in common: habits. Boring … 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
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
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
Do We Really Need Rules?
At SMBU we believe those with a passion for trading ought to start trading in college. We created the SMB College Training Program run by Iceman from The PlayBook for this very reason. Jake is a passionate college trader trying to create a track record while in school to land a spot on a prop trading desk. He will write a weekly blog about … Read More
In-depth Discussion: Mike Bellafiore and Ralph Acampora on Benzinga #PreMarket Prep
Mike Bellafiore was a guest on Benzinga #PreMarket Prep. Below you can listen to his interview and one with the godfather of technical analysis Ralph Acampora. Here is what you will learn from Mike during this interview: 1) The market is not fair. Get over it! 2) One of his favorite trades: Changing Fundamentals Trade 3) How prop traders are … Read More
This Trader is Ready to Trade Live
Bella, I am a huge fan of One Good Trade. Currently, I am wrapping up The Playbook. My friend and mentor put me onto One Good Trade after I had expressed interest several months ago in trading, and I have fallen in love with the profession. My desire is to become an intraday trader, but I want to go about … Read More
This 5k loss was my best trade of the month (video)
Hey Mike,Just curious if you have an example of a losing trade you had recently, and if you still considered it a good trade?Thanks.Jonathan A. mikebellafiore This is a great question! When I watch the Financial Media Entertainment Complex talking trading/investing I smh. Who are those people on TV so certain their call in $AAPL is correct? What market is … Read More