At SMB, our prop firm, we think a great deal about the best way to train new traders. Our core business is training new traders into consistently profitable and then elite traders. Since 2005, this has been our focus for our work. New traders go through an extensive training program before they ever trade firm capital. We would never allow … Read More
Weekend learning lessons for traders from SMB: work on your trading game to improve
This week was one of the most opportunistic that I can remember in some time. The pot names and IPOs were immensely volatile. Next week sets up to present many large opportunities again. The weekend is a terrific time to work on your trading game to improve. We offer some ideas below to improve your trading from this trading week. … Read More
Dealing with Extremely Frustrating Trading Days: Insights for Junior Traders
One of our rising junior traders, who has been outperforming the market, had an extremely frustrating trading day. There is almost nothing worse than putting on a good trade, being in the money with significant open profits, and then giving it all back. Sigh. However, there are steps that you can take so that those frustrating trades and frustrating trading … Read More
Weekend trading lessons from the prop desk at SMB
Below we share some videos to help you improve your trading this weekend. It is the work we do when markets are closed that shapes trading performance in real-time. “You can be better tomorrow than you are today!”- Mike Bellafiore Weekend video trading lessons from SMB The worst trade of the week 5 things profitable traders do How to profit … Read More
The gift of learning during a trading session
In Dr. Steenbarger’s terrific post he reminds us that each trading session is a gift to learn. He wrote, “Every day of trading provides a day’s worth of review and learning.” I shared a lesson I learned while trading $MTCH today in this video review. This was a lesson learned after a trading loss after a high conviction trade. Arrogant trades … Read More
Rules for high conviction trades
During a daily review a developing trader tackled his system for re-entry with high conviction trades. In his words on his high conviction IBB breakout trade, expressed with LABD: (LABD) Was one of my larger picture ideas for the day. Was using this 3X leverage ETF to play the IBB breakout. IBB looked positioned for a breakout on the daily … Read More
Forex: The Ideal Track Record for Funding a Proprietary Firm
Hi Mike, I am from Singapore, and I recently just finished reading “The Playbook”. I read “One Good Trade” a few years back and got me propelled into the right mindset a trader should have. I like how the book has included the part of how a professional trader thinks, I used to think that a trading plan only includes … 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