After many years of trading, I realized there is only one thing a trader need to know and do again and again. Cut your loses fast. Nothing else. If you have this one quality, you will succeeded. Period.
I agree. You must have an exit stop on every trade, and you must honor it. If necessary, you can enter it into the market with the broker. However you do it, you can’t “hope it comes back”. Get out and move on to the next trade. However, having a good/great entry takes some of the risk out so that the trade starts profitably. If you have a good, and backtested, trading plan, trade selection, timing, entry, exit plan, and a stop, Then you may have the probabilities in your favor.
10 Steps To Make A Career As A Trader : 1-) Having the attributes to be an elite trader 2-) Having a strong trading foundation 3-) Having exposure to trading setups with edge from the prop desk 4-) Ask this questions : Is this the right firm for the trader ? 5-) Develop a daily routine filled with effective best practices that build trading skill and edge 6-) Build your playbook with your trading edge that aligns with your unique talents and abilities 7-) Team trading and collaborate to improve and refine your trading edge 8-) Size your trading edge 9-) Build a broader and more comprehensive playbook 10-) Express your trades better to improve your edge You're welcome guys 😊😊
I always enjoy listening to Mike Bellafiore talk. If I were 40 years younger, I'd be constantly finding ways to put my trade book in front of him. Even though I've been trading 23 years, I can always learn something from him.
Four Scores of Edge: 1) the chart set up 2) discipline with plan 3) using many instruments after understanding them 4) "structural edge" example: get out of the trade quickly if it's not going your way -> ever again later when it is -> utilize FULLY the Structural Edge of modern day technology with liquidity
What he is saying to the young folks is to take the initiative and start assuming risk and get comfortable with the fact that it will be your life if they hire you. You need to at least earn your stripes in take the hits. Then they will be more willing to look at you as a candidate after you taken the lumps. That is a prerequisite.
17:25 - Yeah, at the very beginning I'd say DNA is a great course. If been at this for a while you should know all of that already, but you never know.
Brutal space to be in. Other than prop firms you have no clue as to who actually can and who cannot trade unless there is proof of extensive track record. And the majority of people can NOT trade and lead you into bad habits that take a long time to unlearn.
To be fair. At a point where i was down 50k it was absolutely worth it at that point. The personal development that i went through because i kept coming back and coming up with new things is unimaginable. Absolutely thankfull for that. From being the emotion to simply observing yourself and many for facets. Absolutley great journey.
Man I'd offer to be their office janitor just to get a chance to watch these guys, let alone learn to trade from them! I'd learn more from just quitely watching these guys than 99% of what I see online
Is this a good time to buy stocks/crypto in the Europe? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere.
wartosciowy material ale te "youknow" co drugie slowo czyni tak BIEDNY twoj slownik w odniesieniu do czegos tak waznego i unikatowego jak trading, ze az przykro sie slucha Twych wypowiedzi(pisze do czlowieka w koszulce z napisem "TRADE.").. to nie 'hate' ale konstruktywna krytyka .Dzieki za material:) super ciekawe
Just limit your self to 3 or less trades a day. It'll keep you away from revenge trading. Also, size down. That will keep you from losing more than you should.
@ Hi. I swing trade individual stocks (no ETFs). I have much more to learn about options before I would feel confident incorporating them into my strategy.
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Trading Workshop: bit.ly/3YgSzcb
SMB's Scalping Workshop: bit.ly/40iRrX5
SMB Inside Access: bit.ly/3U4wqet
Please can I have your email? Thank you.
After many years of trading, I realized there is only one thing a trader need to know and do again and again. Cut your loses fast. Nothing else. If you have this one quality, you will succeeded. Period.
One of the best advices ever. Other thing for me is trailing stop and because you cut your losses fast and secure profits too.
LOL there's more than that. You have to let your wins run too. Some people can't do that.
I would argue edge is more important. A lot of traders think they got edge but they really dont
I agree. You must have an exit stop on every trade, and you must honor it. If necessary, you can enter it into the market with the broker. However you do it, you can’t “hope it comes back”. Get out and move on to the next trade. However, having a good/great entry takes some of the risk out so that the trade starts profitably. If you have a good, and backtested, trading plan, trade selection, timing, entry, exit plan, and a stop, Then you may have the probabilities in your favor.
You know what....... you are actually 100% correct
10 Steps To Make A Career As A Trader :
1-) Having the attributes to be an elite trader
2-) Having a strong trading foundation
3-) Having exposure to trading setups with edge from the prop desk
4-) Ask this questions : Is this the right firm for the trader ?
5-) Develop a daily routine filled with effective best practices that build trading skill and edge
6-) Build your playbook with your trading edge that aligns with your unique talents and abilities
7-) Team trading and collaborate to improve and refine your trading edge
8-) Size your trading edge
9-) Build a broader and more comprehensive playbook
10-) Express your trades better to improve your edge
You're welcome guys 😊😊
Thank you for saving me hour and a half. 🍻
Thanks for saving my time bro❤🎉
Thx u 😊
Thank you!!!
Thanks
I always enjoy listening to Mike Bellafiore talk. If I were 40 years younger, I'd be constantly finding ways to put my trade book in front of him. Even though I've been trading 23 years, I can always learn something from him.
Can I connect you sir ,I like to get learn things from experienced person your experience is 80% of my age
don't let people make you believe trading is hard, it's not that hard if you follow a plan
Four Scores of Edge:
1) the chart set up
2) discipline with plan
3) using many instruments after understanding them
4) "structural edge" example: get out of the trade quickly if it's not going your way -> ever again later when it is -> utilize FULLY the Structural Edge of modern day technology with liquidity
Great video as always! The depth you go into is inspiring. Step Finance is another project with incredible potential-perfect for your next deep dive.
Thank you for these great videos!
stoked to see you folks tomorrow.
We'll have a few SMB guys at t4ac!
I’m so close I have an amazing strategy that I’m using and I’m just now starting to become really confident with it
Can you teach me that strategy
Me too
Another fantastic interview! Pure genius!
Absolute gold! Thanks Bella
Thanks for the video guys.
What he is saying to the young folks is to take the initiative and start assuming risk and get comfortable with the fact that it will be your life if they hire you. You need to at least earn your stripes in take the hits. Then they will be more willing to look at you as a candidate after you taken the lumps. That is a prerequisite.
Miami also now, excellent!
i have listened to 'Bella' so many times, I think I'm finishing his sentences.
Thanks for sharing 🙏
Great points and insight on what it takes to excel in this wild game.
Yep this is worth a rewatch
Fantastic!!!!!!
17:25 - Yeah, at the very beginning I'd say DNA is a great course. If been at this for a while you should know all of that already, but you never know.
THX for PROFIT
Mike is literally giving me Steve Jobs Vibes...
The self fulfilling prophecy❤
Step 1: Be profitable
How to be rich?
- Stop being poor
Wheels are round. Rain is wet.
Step 1: Don't lose money. Step 2: see step 1.
Be Diverse !
Brutal space to be in. Other than prop firms you have no clue as to who actually can and who cannot trade unless there is proof of extensive track record. And the majority of people can NOT trade and lead you into bad habits that take a long time to unlearn.
Is there a contact # to talk to someone to register in this program
To be fair. At a point where i was down 50k it was absolutely worth it at that point. The personal development that i went through because i kept coming back and coming up with new things is unimaginable. Absolutely thankfull for that. From being the emotion to simply observing yourself and many for facets.
Absolutley great journey.
Amazing gems as always!
Man I'd offer to be their office janitor just to get a chance to watch these guys, let alone learn to trade from them! I'd learn more from just quitely watching these guys than 99% of what I see online
he trading robot is a real asset
Thank you Mike
What's #1?
$TSLA $ALGN $FSLR 11/15 Options!!!
Hello!! I was trading 2 months ago, very confident but I stopped. Now I want to return but I can't Im scared
Pucker up. Todays loss doesn't define you as a trader. On to the next!
Set your stops and know the risk involved beforehand, it won't get any worse than that.
Your smb insider sign up doesn’t work
Does the link in the description not work or something on the page?
@@smbcapital on your website page tested by signing up but didn’t take after processing
New scan $PSA 11/1 Options!!! $XLRE hot 🥵 Sector!!!
Thanks
what was the INDICATOR that he mentioned ???
RVOL - relative volume
@@smbcapital thanks
Bella!!
Is this a good time to buy stocks/crypto in the Europe? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere.
wartosciowy material ale te "youknow" co drugie slowo czyni tak BIEDNY twoj slownik w odniesieniu do czegos tak waznego i unikatowego jak trading, ze az przykro sie slucha Twych wypowiedzi(pisze do czlowieka w koszulce z napisem "TRADE.").. to nie 'hate' ale konstruktywna krytyka .Dzieki za material:) super ciekawe
16:12 SMB Capital keeps talking about these meetings. Are they open to guys like me? Or do you need to be a paid member?
Paid membership ,148 bucks a month. I just started this week and it’s totally worth it
You have to pay I believe unless they hire you of course.
@@juniorsuarez7671online learning?
by RVOL does he mean relative Volume, Relative Volatility? something else?
Relative volume
@@mbellafiore19 thank you, that is what I thought
Answer: consistently profitable
Watching at X2
I think my problem is trying to deal with a loss and not chase it I need a lot of education behind this bad pattern I’ve created
Just limit your self to 3 or less trades a day. It'll keep you away from revenge trading. Also, size down. That will keep you from losing more than you should.
HEART‼️
11/15 Options $AVB $ESS Calls !!!
Watching this at 1.75x speed.
Exactly
I’m on my own trading journey to grow a small account from $2,000 -> $25k
Options?
@ Hi. I swing trade individual stocks (no ETFs). I have much more to learn about options before I would feel confident incorporating them into my strategy.
Bots
Wheres the link in the top right corner?
Smb turned me down to trade from home 😢
Change Playback Speed to 1.25x speed, thank me later
☦❤💪
Mike is so sexy when he says "great trader". I know he's talking about me ❤
You cant win if your broker always go against your entry.
The host should talk less and let Michael have more time to talk. Thank you Michael for reaching out and willing to share your experiences. 🙏🙏🙏
real traders without stupid fake shit
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