I sat down at my trading desk at 7:45AM and noticed TSLA was down off of the negative article in Barron’s, near a nice technical level at 98, and I bought it. I shared this with the trading community. As TSLA started to work from this 98 level I added. I shared this with the trading community in real time. … Read More
The Swing Trader’s Breaking News Dilemma
Hi Mike, I am a beginning stock trader. As I have another job to support me during my learning curve, I cannot trade intraday and instead I focus on swing trades that can last a couple of days. My problem is that during those couple of days, you can have all kind of news that can reverse the trend and make … Read More
How Do You Think This Trader is Doing?
Good evening Bella! I wanted to fire off a quick email to you, and if you had time to respond or post it, I would greatly appreciate it. I just need some input from someone who has observed intraday traders for years to gauge where I’m at. I started prop trading last August, so it’s been nine months. Before that I … Read More
How Do I Trade the Breakout Trade Better?
Below is an email exchange between me and an SMB Reader, who is a pretty good trader. We discuss how to improve his Breakout Trade attack. This blog post ends with related past posts. SMB Reader Mike, The Thursday after you visited the big CT hedge fund you very briefly mentioned, “They play all breakouts the same way, paying up over … Read More
The Technology Edge of Proprietary Trader, Steve Austin
CNNMoney came to visit us this week to do a spot on our desk’s NEW technology edge. I am the guy showing off the balding back of my head. You may have read recently about our JV with KTG in Midtown NYC of late that breeds this new technology edge. I wanted to explain in more detail the importance of … Read More
The Hustling Trader
The NBA playoffs are here and listening to elite coaches coach can help us as traders. The best coaches gloss over who led the team in scoring (P&L?) and stress “hustle plays”. These hustle plays can make the difference between a win or a loss at this highest level of competition. That got me to thinking about our game. What … Read More
$FB – Gap and Go Trade
Here is an example of a pro trader breaking down a Gap and Go Trade in $FB the day of earnings. Mike Bellafiore The PlayBook One Good Trade no relevant positions
Starting a Prop Desk
Hi Mike, I have a couple of questions that I would like to ask you. First, what is the success rate of new traders once they go through the SMB program? And second, in your opinion what would be the ideal number to start a trading floor with? I realize you might refer to how much capital is available but … Read More