Yeah a proper stop buys stop sells let the price come to you and get where you want it is probably one of the hardest to master as it requires a lot of screen time and proper risk management
Look forward to hearing more from your traders. Thank you so much for all the videos. Firms like SMB and IEX (Brad Katsuyama) make one feel good about being in the financial markets!
I found a good trick that works for me when trading to help with managing emotions and becoming more of a robot than a human. What I do is actually talk myself through what is going on and what I'm doing vs just sitting there thinking it all. A good example is sometimes I'll be going through my commentary and I'll say it's going for a retest. It's being rejected. But guess what when you actually say that 3 times you are way more likely to take action than just thinking it and not doing anything. As traders, we are always battling our monkey minds and emotions. Thinking in probabilities is key also. Mark Douglas's books are amazing. Don't just think of probabilities in trading though. Think about it your whole life so it becomes natural. I found that playing some card games really helps you understand and apply this in trading and probabilities in general.
So true man. Mindset is everything. In this vast topic of trading, they’re are many things not only to cultivate, but to research and get familiar with. Trading is an opportunity for everyone to better themselves not only with the fundamentals, but also in terms of psychology
too all who posted negatively about this vid..you all have 1 thing in common..you were hoping to hear "the answer". There isn't an answer in trading. Listen to the advice he is giving here...it is all spot on. It takes a tremendous commitment. Forget about the quick answer...commit to the process ..YOUR process.
Nah just listen to the video, don't look for time saving shortcuts like a single comment on TH-cam, put the time in and get to work, listen to the whole video. Listen to this guy 5 times. Read steinbergs books. It's not as simple as one fucking comment. There a reason why NO ONE AT SMB MAKES A TON STRAIGHT AWAY as he said, coz there's a million lessons to learn and you gotta learn them all. Don't save time. Put in the fkn time!
I'm sure he's very successful, and he makes all the good points....but it's amazing how so many traders can't help themselves when it comes to picking tops in these markets...my advice ... if you tell the market when it needs to stop going up or down it will punish you...everyone wants to be the first one to the party, i'd rather be a little late and still have a good time...get on the train, don't step in front of it...
really? that your advise? trust me, he already know that. because no matter how good you are in trading, you will lose at the some point. for example, you get nice setup, almost perfect and match all the criteria you need, but when you enter, it ended up being false signal, do you really that never happen? come on, how long have you been trading?
This guy is a real deal... Money is not his primary goal. That's one reason why he will make it really great and last longer than most! Great interview! Thanks for posting this
The most valuable was end of this video, where you can see/hear that ALWAYS use SL once you stopped, then you can come back to that trade. Don't wait till how much you can get drowdown.
This is one of the reasons I started the DNA course last week. My head hurts I'm spending huge hours I don't have a clue how to trade. NOT YET. I'm loving it, it's exciting and I love challenges.
the first question got a low key FIRE response he was like you doubt me young padawan.. i simply hedge my short with call options and add to winners on late day breakdowns..i assume the difficult thing is deciding when to stop with the calls and go for the home run short! man i would love showing up to a job like this!!!
your personality is everything. if you require alot of social interaction and emotional connection with others to be happy trading will be difficult for you. if you are rational and prone to strategic and systematic thinking and you feel energized by analysis then you will thrive.
19:20 I think that's one of the most importants things to understand. Trading is a long journey (technically and psycologically) through a bumpy road. The only desire for money is not enough to reach the end. Good content. Is priceless listen that kind of talking by Top Senior Traders.
I found this video very informative. I too have a lot of the same struggles he mentioned. I journal my trades after I am done with them as well. It has helped me see the things I need to improve on and correct them. I also place my stops tight at times and get stopped out of trades that I did not enter right. This is OK as my risk is small. I need to jump back in more when I see a trade is going as planned after.
Great video, appreciated it. FYI TLRY hasn't hit 60 as of 11/29 (this video is from Sept). Topped at $300 (23:40), shows you its not about predicting the future, but managing your trades well, journaling and rules. Thank you SMB for this video.
Great channel. The answer these guys give in interviews is so important. It's the reality not the hype. Please can you improve the audio so we can here the questions. Thanks Mike .
That is interesting that he mentions "IF THEN" in his plan, that was very helpful. I can think of a trading plan as a computer program with price action. For example, IF price is above support and there are lots of stop-orders under that support, THEN price sweeps under support. And that could be a good entry for price moving back above support going long. OR if price is under resistance and there are many stop-loss orders above that resistance THEN price sweeps up above that resistance before moving back under it. That could be a good shorting entry.
Monster W on a scalp today (Tesla) that was held for an intra day hold that countered and put me in my biggest Loss so far in my short career, so I came and rewatched this video to remind myself that Shark the Legend was negative $300,000 on a day in the past, and now Nets millions in a month like March 2020. The grit ,the grind , the challenge , gotta love it ! Recognize the patterns in your losses, most of your losses are due to similar mistakes!
I like how everyone has their two cents about the secret of successful trading lol. Here's my 2 cents--trading is just a money management exercise. Simple math really. Plus some fundamental and technical analysis but beyond that just simple math. Also minimizing human error which is the cause of the biggest losses. That bit at the very end of the video was gold. Also that dude has a big bag of tricks which is something everyone needs in order to make money.
Thanks so much for these videos. I am sure once you were a passionate young guy full of passion, and you know how grateful you can be when you find somebody eager to share his knowledge and experience.
@@smbcapital Mike, I have a question. I’ve been trading for 10 months now and lost money for the first 7. My December was roughly break even, then Jan and Feb of this year have been beyond my expectations with 0 red days so far, 28 of 29 trade streak, 11.9:1 profit loss ratio, 8.88 reward to risk and pain to gain of 11.27 over 334 trades. I’m trading small size with a midsize account and things gave begun to come together as my fear in a trade has subsided and my executions improved. However in reviewing my trades my biggest winners have been coming from where I refused to lose in the trade and averaged in before the reversals where I then began adding even more size. I do a lot of feeler trades where I test my entries and often average in if I believe I missed the exact spot. I also like averaging down on strong flushes until the bottom slows up and gets the pop as the shorts cover. My question is this: If I’m getting statistical results of this type of consistency and strong profit/loss ratios do I continue on as is knowing I will get bitten every now and then with this strategy but profitable overall or do I look to cut more trades as losses rather than turning them into winners as this will be the more sustainable play as I begin to trade bigger/longer?
Senior trader? I was expecting like some old dude leaving a speech from the breakroom at his retirement party. You guys cut them loose once they get a grey hair? Someone should probably tell him he shouldn't wear that hat though. Out of all the people that work there I'm annoyed that I had to be the one to say this. I'm joking. Another great video, I love your channel. I hope to one day be able to afford to work here. I love how he is super big on journaling and tradervue. That's my number 1 thing I tell new traders. Log your trades and notice your errors and the 2nd thing is start with small position size and then size up as you gain more experience and become profitable.
I have spent more than 10K hours in screen time, I think (first started in 2008) and its now paying me back. Screen time is must to creatively visualise the trend in for the short term traders and position sizing the risk is key for consistent growth of capital
Awesome presentation. I've found that if your trade goes as planned, be Grateful for it and don't attribute it to yourself; in doing this you will start seeing really good setup more often. Thanks.
Amazing video with Shark! It would be priceless if you could make a separete playlist in your library on youtube for videos with senior traders. Thanks again for the great content!
"I want to be the best short-term trader there is and that´s what motivates me now and the money just happens if I´m succesful at that basically" #PRICELESS
My first week I had a nice first trade followed my 10 bad trades that lead me to flip out and chase all my money away. Just keep your head clear and calm and remember everone will loss a trade from time to time. Just keep calm and keep ready and absolutly no gut feeling, never trad by a feeling ever. You trade by facts only.
It would be great if Shark would speak more frequently as his practical comments on behavior through the trades together with educational stuff from Mike does make sense and I'm sure such video someday will be valuable part of training programs.
People never stop criticizing a good transforming talk, Interview was inspiring and motivating with good knowledge bolts about Psychology. I noted some good Pro Points on my Diary. If you can, show some entry , exits, and why's of them ( for some of the best trades of best Trader like him) ?? That will fill the knowledge pool. I love it.
Compares himself to a top athlete like Roger Federer lol! The number 1 rule is to believe in yourself and have self-confidence, as it is in everything.
Thanks - Please can you do a detailed video discussion on correct position sizing? Not all trades are equal set-ups, so what would be the minimum and what would generally be the maximum risk one should take for each scenario? Appreciated ! Great videos by the way.
Thank you Mr. Bellafiore for the great job and being wiling to share your company's knowledge/experience. I have a question though. Yourself along with your traders always outlines importance of risk and money management. But if your guys trading with proper RM and MM how come your top trader lost $300K in 1 day (13:28)? Or it means 300K is a tiny amount of his trading account, like 1-2%? Or the trade was hedged and he lost in stocks while won in options ended up almost @ break even? Thank you for your answer.
In another channel, he mentioned that if the trader reaches the max loss per day, he can come to him and ask for permission, to increase it, but with a good plan behind. Thou also have to go for 1 hour brake, to calm down and rethink situation.
If you previously planned to exit a trade at a certain time and come that time you find yourself tempted to hang in there, ask yourself did my reasons for exiting the trade change?
How do you overcome depression on the weekends and sleepless nights? That's why I walked away but was a good trader. I just watch now & give pointers to help newbies avoid the cliffs.
Notes* - No one gonna comes here and make a lot of money as a beginner - Trading is not rocket science, you will figure out how to read the price after you have been trading for a while - Copying people is good at the beginning but after trading for a while you have to figure out your own style to reach the top - You are the CASINO, you have to bet a high probability trade - Have a more detailed plan like what is the entry signal, what is your target, what is your exit signal - If you make the same mistake twice, remember your mistake every day and improve it. - If you have a good day and if you have a bad day, these become your opportunity to learn from them Bad days can become your tutor to the success - Look at the losing trades and see if most of the characters are the same and you can learn from this. Do it for the winning trades too. - Don't jump to the conclusion with small sample sizes, wait for at least 6 months - Adapt to the patterns that the current market shows - Money shouldn't be your goal, become the best trader instead. Example become consistently profitable trader and making more % per month.
Great advice!! I particularly like the lady's question/situation i.e. currently with full-time job and other commitments throughout the day. A reflection of what many would-be traders are considering; pondering.
In that case you'd probably be better of swing trading over longer time frames. I wouldn't just log on to day trade the close as it's normally really quiet as most the moves have been made for the day.
this is very good. hear it from the source. we "need" to hear from these guys. i agree completely about mark Douglas. trading in the zone is the best book out there. can you share the other ones ? thanks !
Great video! Does this trader do both day and swing trading? What are the advantages/disadvantages of working for a prop firm versus for yourself? Do you have any traders in your firm working remotely?
Just FYI for you new traders, never short into monster trends. He talks about how he starting building a big short position from the 80s and the thing spiked to $127.......... trying to pick tops is damn tough. The stock could end up crashing yes but it won't be the first nor the last time I've seen stocks rally like this and just never look back and go on monster runs into the hundreds, trying to short this = account killer. What he's really doing is not strategy based unless he's thinking his fundamentals are solid but even then as the old saying goes, "The Market Can Remain Irrational Longer Than You Can Remain Solvent", so really he's guessing and hoping it dumps huge (because at the time of him shorting it's showed no weakness or dumping) bringing in the massive pay day which it might, but hope gets you nowhere and the stock market hunts and kills people who use "hope" as part of their strategy and does it by the thousands. Good Luck for having the balls to short something like this lol.
So... true but... of course there is always another angle to consider. What if his position is so small compared to his equity that it could, in fact, go ridiculously against him and his account could still handle it? Theoretical but plausible. Because the ratio between position size and equity is very important. What if his risk management/money management is locked tight? He did say that if it goes higher than X he'd take the loss and if that loss is within planned parameters then its just one more loss and move onto the next trade. The key here is taking the loss at the level set. And at that point, it becomes a game of risk management (which hopefully you played well and did not risk more than you could afford.) There is no trading without losses. The key is not to avoid the loss but to plan for it.
The new trader does not want to learn a time spent on learning. If they learn before starting to trade live, they can easily make money and become successful traders. I was the same before until I joined AAFX to do my trading. But now, I know that knowledge is very important in Forex. Learning and practicing is very necessary for a successful trading career. The Forex business has a practical basis that no other company has on the market. It is called a demo platform.
Due to the likely fact that the would-be traders were not using a microphone, most of the questions asked were inaudible hence lowering the quality of this discussion. A simple way to fix this in future videos would be using subtitles during the editing so the questions asked are fully understood and also, the answers given too would be fully understood in the proper context.
Very good information on this video, I would like to see more with interviews or group meetings like this one where we can see more of your traders they always have something to share even if they aren't aware of that.
Good stuff. 80% psychology = true. It's more about you than it is about the market. The first thing he says is put in the time. It kills me to hear that. Why? Because putting in my time is what I do in my spare time. Is what I do when I don’t have anything else that I HAVE to do. It is what I do in my leisure time. If I were there, I’d be in at 5 AM doing pre-game planning and staying till market close. Period. Every single trading day. Why settle for less. Too bad these guys don't do Forex or I'b be tearing down their door to get in.
![เปิด อาณาจักร หมื่นล้าน "สาระตั้ม" l [Nickynachat]](http://i.ytimg.com/vi/3XE0nPF4YkQ/mqdefault.jpg)
They KEY to becoming a PRO trader is mastering Risk Management. Period 🙌 and then you can rock any market
facts!
So true. Wish I would have learned that a month ago. Started trading with 10x leverage using my whole bank on each trade lol 😮💨
Yeah a proper stop buys stop sells let the price come to you and get where you want it is probably one of the hardest to master as it requires a lot of screen time and proper risk management
Genius!
@@Kid_Ikaris playing w ⛽
Hey you the comment reader. I've been trading for ten years. This is the best talk you'll ever listen to. Period.
Cut off all negativity n focus on elevating ur trading skills.
Trade what you see, master price action and volume. To become a pro at anything you just need to master the fundamentals.
Thanks, I've come to the same conclusion. It's been a long time coming though
Just like sports!
💯 🎯 **eXacTLy the foundaTioN and buiLdinG bLocKs laY the bLuepRinT.!* 💰💡
This is what you need to do more often, let your traders speak. Thanks for your vids.
agreed!
Look forward to hearing more from your traders. Thank you so much for all the videos. Firms like SMB and IEX (Brad Katsuyama) make one feel good about being in the financial markets!
Agree
I found a good trick that works for me when trading to help with managing emotions and becoming more of a robot than a human. What I do is actually talk myself through what is going on and what I'm doing vs just sitting there thinking it all. A good example is sometimes I'll be going through my commentary and I'll say it's going for a retest. It's being rejected. But guess what when you actually say that 3 times you are way more likely to take action than just thinking it and not doing anything. As traders, we are always battling our monkey minds and emotions. Thinking in probabilities is key also. Mark Douglas's books are amazing. Don't just think of probabilities in trading though. Think about it your whole life so it becomes natural. I found that playing some card games really helps you understand and apply this in trading and probabilities in general.
This dudes composure is so chill, This is a huge tell for how your mind should perceive the play. Awesome video!
yes excellent observation about him
That posted make my day, thanks a whole lot 😎
My friend's lost 7mil before
That is why he is successful. Equanimity.
So true man. Mindset is everything. In this vast topic of trading, they’re are many things not only to cultivate, but to research and get familiar with. Trading is an opportunity for everyone to better themselves not only with the fundamentals, but also in terms of psychology
too all who posted negatively about this vid..you all have 1 thing in common..you were hoping to hear "the answer". There isn't an answer in trading. Listen to the advice he is giving here...it is all spot on. It takes a tremendous commitment. Forget about the quick answer...commit to the process ..YOUR process.
guys, let me save you some time. Here's the real answer. CONTROL YOUR EMOTIONS. PERIOD. Do not be fearful and do not be greedy.
@@andreasmelkersson3592 what are examples of strategies with good edge?
And wait for the damn setup!!!
If you know what you are waiting for. You have no emotion.
💯 🎯 💡👍
Nah just listen to the video, don't look for time saving shortcuts like a single comment on TH-cam, put the time in and get to work, listen to the whole video. Listen to this guy 5 times. Read steinbergs books. It's not as simple as one fucking comment. There a reason why NO ONE AT SMB MAKES A TON STRAIGHT AWAY as he said, coz there's a million lessons to learn and you gotta learn them all. Don't save time. Put in the fkn time!
As I progress in my trader career I come back often to this video and always get new insights.
I'm sure he's very successful, and he makes all the good points....but it's amazing how so many traders can't help themselves when it comes to picking tops in these markets...my advice ... if you tell the market when it needs to stop going up or down it will punish you...everyone wants to be the first one to the party, i'd rather be a little late and still have a good time...get on the train, don't step in front of it...
TLRY just hit $153 lol
@@mostresticator5 that's why you're doing the interview right. Because he couldn't of possible thought about that.....
I'm so upset I didnt get in.... In August.
really? that your advise? trust me, he already know that. because no matter how good you are in trading, you will lose at the some point. for example, you get nice setup, almost perfect and match all the criteria you need, but when you enter, it ended up being false signal, do you really that never happen? come on, how long have you been trading?
some people don't even trade with charts so take this advice with grain of salt
This guy is a real deal... Money is not his primary goal. That's one reason why he will make it really great and last longer than most! Great interview! Thanks for posting this
Im busting ass learning this. Not stopping til im there
If you can truly buy low & sell high & have a good reward/risk ratio...look no further, you have the holy grail.
The most valuable was end of this video, where you can see/hear that ALWAYS use SL once you stopped, then you can come back to that trade. Don't wait till how much you can get drowdown.
This is one of the reasons I started the DNA course last week.
My head hurts
I'm spending huge hours
I don't have a clue how to trade. NOT YET.
I'm loving it, it's exciting and I love challenges.
I am ready to become a good trader and am willing to put in the work to succeed. Every single day.
the first question got a low key FIRE response he was like you doubt me young padawan.. i simply hedge my short with call options and add to winners on late day breakdowns..i assume the difficult thing is deciding when to stop with the calls and go for the home run short! man i would love showing up to a job like this!!!
This guy is in almost all your videos. Always wanted to hear from him. So humble, calm, educated and helpful. Truly inspiring. Cool cap btw.
you must develop your own strategy and style, cant copy him
I watched this video before but this time I took notes. Absolute gold!
- Work Hard,
- Challenge yourself,
- Journalling your trades,
- Enjoy the Process - Money is by product
- Deep understanding of your trades
Don’t be hopeful when you should be fearful.
Don’t be fearful when you should be hopeful
your personality is everything. if you require alot of social interaction and emotional connection with others to be happy trading will be difficult for you. if you are rational and prone to strategic and systematic thinking and you feel energized by analysis then you will thrive.
Shark's mindset is super focused and dialed in. Really inspirational.
19:20 I think that's one of the most importants things to understand. Trading is a long journey (technically and psycologically) through a bumpy road.
The only desire for money is not enough to reach the end. Good content. Is priceless listen that kind of talking by Top Senior Traders.
My favorite part was when he talked about his ultimate trading goal.
I found this video very informative. I too have a lot of the same struggles he mentioned. I journal my trades after I am done with them as well. It has helped me see the things I need to improve on and correct them. I also place my stops tight at times and get stopped out of trades that I did not enter right. This is OK as my risk is small. I need to jump back in more when I see a trade is going as planned after.
Great video, appreciated it. FYI TLRY hasn't hit 60 as of 11/29 (this video is from Sept). Topped at $300 (23:40), shows you its not about predicting the future, but managing your trades well, journaling and rules. Thank you SMB for this video.
Trading is like being a good driver. Know your brakes, your speed limits, mirror, mirror, signal, man oeuvre.
Discussion on tight stops and re entry would be great! Thanks
thanks for the book ideas in the begining.. peak performance , emotional intelligence and decision making
Great channel. The answer these guys give in interviews is so important. It's the reality not the hype. Please can you improve the audio so we can here the questions. Thanks Mike .
That is interesting that he mentions "IF THEN" in his plan, that was very helpful. I can think of a trading plan as a computer program with price action. For example, IF price is above support and there are lots of stop-orders under that support, THEN price sweeps under support. And that could be a good entry for price moving back above support going long. OR if price is under resistance and there are many stop-loss orders above that resistance THEN price sweeps up above that resistance before moving back under it. That could be a good shorting entry.
how do you know how many stop orders are being placed?
Thank you Bella and Top Trader ( i dont know your name) very humble and generous, lots of wisdom.
His name is Shark.
Monster W on a scalp today (Tesla) that was held for an intra day hold that countered and put me in my biggest Loss so far in my short career, so I came and rewatched this video to remind myself that Shark the Legend was negative $300,000 on a day in the past, and now Nets millions in a month like March 2020. The grit ,the grind , the challenge , gotta love it ! Recognize the patterns in your losses, most of your losses are due to similar mistakes!
Great material! Congrats SMB!!!!
The title should be, “What it takes to be successful DAY trader”. Very important information for beginners.
💯 💯🎯👏🎯 👏
I like how everyone has their two cents about the secret of successful trading lol. Here's my 2 cents--trading is just a money management exercise. Simple math really. Plus some fundamental and technical analysis but beyond that just simple math. Also minimizing human error which is the cause of the biggest losses. That bit at the very end of the video was gold. Also that dude has a big bag of tricks which is something everyone needs in order to make money.
absolutely! the most important thing. Shark continues to amaze us. Each year he gets better and better
By far one of the best videos available
thank you!!
I've just started learning trading and those info that was given today are very appreciated. Thanks a lot :D
Golden advice, it is not easy, for me is taking years to get the swing and I am a beginner after years it seems
Thanks so much for these videos. I am sure once you were a passionate young guy full of passion, and you know how grateful you can be when you find somebody eager to share his knowledge and experience.
the last part is golden; priceless indeed. thank you for sharing. 27:10 will pay good money for such advice. #stayinglive
He looks like he could be Ross Cameron's younger brother.
Hahahahaha
It's been about 2 years now since the video, how accurate was Shark in predicting only about 2 out of 10 will stick around?
This channel is amazing. I really appreciating every character in each of the videos i have watched so far. Great job Mike. Thank You
Much appreciated! thx Shaun
@@smbcapital Mike, I have a question. I’ve been trading for 10 months now and lost money for the first 7. My December was roughly break even, then Jan and Feb of this year have been beyond my expectations with 0 red days so far, 28 of 29 trade streak, 11.9:1 profit loss ratio, 8.88 reward to risk and pain to gain of 11.27 over 334 trades. I’m trading small size with a midsize account and things gave begun to come together as my fear in a trade has subsided and my executions improved. However in reviewing my trades my biggest winners have been coming from where I refused to lose in the trade and averaged in before the reversals where I then began adding even more size. I do a lot of feeler trades where I test my entries and often average in if I believe I missed the exact spot. I also like averaging down on strong flushes until the bottom slows up and gets the pop as the shorts cover. My question is this: If I’m getting statistical results of this type of consistency and strong profit/loss ratios do I continue on as is knowing I will get bitten every now and then with this strategy but profitable overall or do I look to cut more trades as losses rather than turning them into winners as this will be the more sustainable play as I begin to trade bigger/longer?
Senior trader? I was expecting like some old dude leaving a speech from the breakroom at his retirement party. You guys cut them loose once they get a grey hair? Someone should probably tell him he shouldn't wear that hat though. Out of all the people that work there I'm annoyed that I had to be the one to say this. I'm joking. Another great video, I love your channel. I hope to one day be able to afford to work here. I love how he is super big on journaling and tradervue. That's my number 1 thing I tell new traders. Log your trades and notice your errors and the 2nd thing is start with small position size and then size up as you gain more experience and become profitable.
I have spent more than 10K hours in screen time, I think (first started in 2008) and its now paying me back. Screen time is must to creatively visualise the trend in for the short term traders and position sizing the risk is key for consistent growth of capital
Awesome presentation. I've found that if your trade goes as planned, be Grateful for it and don't attribute it to yourself; in doing this you will start seeing really good setup more often. Thanks.
**pReCiSeLy...ELiMinaTe the eGo as muCh as possibLe.!* 👍 💡 🎯💯
watch all dvds take parts of what makes sense to you and create your own strategy.
Amazing video with Shark! It would be priceless if you could make a separete playlist in your library on youtube for videos with senior traders. Thanks again for the great content!
Thanks for the suggestion Eugene
"I want to be the best short-term trader there is and that´s what motivates me now and the money just happens if I´m succesful at that basically" #PRICELESS
How r u doin now
This guy has to be one of the coolest, calmest trader ever! Awesome video!
My first week I had a nice first trade followed my 10 bad trades that lead me to flip out and chase all my money away. Just keep your head clear and calm and remember everone will loss a trade from time to time. Just keep calm and keep ready and absolutly no gut feeling, never trad by a feeling ever. You trade by facts only.
It would be great if Shark would speak more frequently as his practical comments on behavior through the trades together with educational stuff from Mike does make sense and I'm sure such video someday will be valuable part of training programs.
understood
People never stop criticizing a good transforming talk, Interview was inspiring and motivating with good knowledge bolts about Psychology. I noted some good Pro Points on my Diary.
If you can, show some entry , exits, and why's of them ( for some of the best trades of best Trader like him) ?? That will fill the knowledge pool. I love it.
Compares himself to a top athlete like Roger Federer lol! The number 1 rule is to believe in yourself and have self-confidence, as it is in everything.
**Yup seLF-esTeeM bRuH.!!* 💪
He is comparing skills. Federer as a trader is not 1 percent of this guy. Each person with its on talent. Tat is all.
Thanks - Please can you do a detailed video discussion on correct position sizing? Not all trades are equal set-ups, so what would be the minimum and what would generally be the maximum risk one should take for each scenario? Appreciated ! Great videos by the way.
Great video.....Funny I share the same scaling dilemma.
This is GOLD - thank you @SMB Capital
So many nuggets, loved it! Much appreciated for the content you guys provided!
you are welcome Matt
Thank you Mr. Bellafiore for the great job and being wiling to share your company's knowledge/experience. I have a question though. Yourself along with your traders always outlines importance of risk and money management. But if your guys trading with proper RM and MM how come your top trader lost $300K in 1 day (13:28)? Or it means 300K is a tiny amount of his trading account, like 1-2%? Or the trade was hedged and he lost in stocks while won in options ended up almost @ break even? Thank you for your answer.
In another channel, he mentioned that if the trader reaches the max loss per day, he can come to him and ask for permission, to increase it, but with a good plan behind. Thou also have to go for 1 hour brake, to calm down and rethink situation.
Thank you for all the content and efforts you put out. You are appreciated.
If you previously planned to exit a trade at a certain time and come that time you find yourself tempted to hang in there, ask yourself did my reasons for exiting the trade change?
I consider myself more of a swing trader, but I enjoyed this and took some good points from the presentation.
How do you overcome depression on the weekends and sleepless nights? That's why I walked away but was a good trader. I just watch now & give pointers to help newbies avoid the cliffs.
Hello. Please post a video on traps? And can you talk about them on diffrent time frames? Thank you.
I really enjoyed this video and found it very useful for a new trader like myself, please more of these types of videos. Thank you.
You're welcome! We should have more vids from Shark in the future
He looks like the side actor in movies.
Notes*
- No one gonna comes here and make a lot of money as a beginner
- Trading is not rocket science, you will figure out how to read the price after you have been trading for a while
- Copying people is good at the beginning but after trading for a while you have to figure out your own style to reach the top
- You are the CASINO, you have to bet a high probability trade
- Have a more detailed plan like what is the entry signal, what is your target, what is your exit signal
- If you make the same mistake twice, remember your mistake every day and improve it.
- If you have a good day and if you have a bad day, these become your opportunity to learn from them
Bad days can become your tutor to the success
- Look at the losing trades and see if most of the characters are the same and you can learn from this. Do it for the winning trades too.
- Don't jump to the conclusion with small sample sizes, wait for at least 6 months
- Adapt to the patterns that the current market shows
- Money shouldn't be your goal, become the best trader instead. Example become consistently profitable trader and making more % per month.
thx Luke!
I would pay to see some example of Shark trade... entries, exits, sizing...
Profits bigger than losses. Risk management,. be 100% systematic
shark has an amazing mentality.
he really does, he is able to handle a lot and remain calm
Tell me you shorted TLRY at $300!
He is like the Snoop dogg of Trading.
Golden2Talon hahahha
Golden2Talon is this u commenting about yourself? Lol
22:48 Making the move !
Can we be updated on how many of them stayed?
So glad I found your book. Really agree with what you said on "One Good Trade", definitely following your blogs and videos from now on :)
What's the book?
TLRY certainly was a good call
Thank you Shark...
at least 26 solid points shared and to be understood...not sure if i understood the term correctly...
what is "stack crunching"?
Great advice!!
I particularly like the lady's question/situation i.e. currently with full-time job and other commitments throughout the day. A reflection of what many would-be traders are considering; pondering.
In that case you'd probably be better of swing trading over longer time frames. I wouldn't just log on to day trade the close as it's normally really quiet as most the moves have been made for the day.
this is very good. hear it from the source. we "need" to hear from these guys. i agree completely about mark Douglas. trading in the zone is the best book out there. can you share the other ones ? thanks !
We should have a list of books on our blog. Search for books and you should get a list. Also hoping to have more videos from shark in the future
Great video! Does this trader do both day and swing trading? What are the advantages/disadvantages of working for a prop firm versus for yourself? Do you have any traders in your firm working remotely?
Just FYI for you new traders, never short into monster trends. He talks about how he starting building a big short position from the 80s and the thing spiked to $127.......... trying to pick tops is damn tough.
The stock could end up crashing yes but it won't be the first nor the last time I've seen stocks rally like this and just never look back and go on monster runs into the hundreds, trying to short this = account killer.
What he's really doing is not strategy based unless he's thinking his fundamentals are solid but even then as the old saying goes, "The Market Can Remain Irrational Longer Than You Can Remain Solvent", so really he's guessing and hoping it dumps huge (because at the time of him shorting it's showed no weakness or dumping) bringing in the massive pay day which it might, but hope gets you nowhere and the stock market hunts and kills people who use "hope" as part of their strategy and does it by the thousands.
Good Luck for having the balls to short something like this lol.
Intra day RSI over 75-80 will result in at least shortable pullbacks
So... true but... of course there is always another angle to consider. What if his position is so small compared to his equity that it could, in fact, go ridiculously against him and his account could still handle it? Theoretical but plausible. Because the ratio between position size and equity is very important. What if his risk management/money management is locked tight? He did say that if it goes higher than X he'd take the loss and if that loss is within planned parameters then its just one more loss and move onto the next trade. The key here is taking the loss at the level set. And at that point, it becomes a game of risk management (which hopefully you played well and did not risk more than you could afford.) There is no trading without losses. The key is not to avoid the loss but to plan for it.
selling tops is easy if you're a good trader
You completely missed the part where he said he's hedged. That means he's not just short, but that he's long as well. That's strategy 100%.
@@TheSoldierX58 Good point, I noticed that at the beginning.
Learning how to trade is different from hands on experience
SUPPLY AND DEMAND ZONES, Risk managment, consistent proper decision making…
The new trader does not want to learn a time spent on learning. If they learn before starting to trade live, they can easily make money and become successful traders. I was the same before until I joined AAFX to do my trading. But now, I know that knowledge is very important in Forex. Learning and practicing is very necessary for a successful trading career. The Forex business has a practical basis that no other company has on the market. It is called a demo platform.
Due to the likely fact that the would-be traders were not using a microphone, most of the questions asked were inaudible hence lowering the quality of this discussion. A simple way to fix this in future videos would be using subtitles during the editing so the questions asked are fully understood and also, the answers given too would be fully understood in the proper context.
i dont trade stocks but had to check that chart out . whos that guy that called that spike to 300. I like it
This is top shelf content.
Takes 10000 hours to become a master at anything. Trading is no different.
very true, need the screen time!
I Would Say More Than 10000 Hrs...
how did his TLRY position work out for him?
This guy looks so blazed while he explains all this it’s pretty funny. Successful blazing trader that’s what I aspire 2 be!
Doubt it, you need to keep your mind sharp.
High lots on high probability setups. Compound.
thanks for sharing! Would love to see more q&a by him
I can't wait to be there one day..🙌🙌🙌🙌💯
Very good information on this video, I would like to see more with interviews or group meetings like this one where we can see more of your traders they always have something to share even if they aren't aware of that.
ok thxs for the feedback
I'm reading "One Good Trade" right now. I Love the book! Who is this talking in the video?
His name is shark
Good advice. We like to have good resources to recommend to our community.
Good stuff. 80% psychology = true. It's more about you than it is about the market. The first thing he says is put in the time. It kills me to hear that. Why? Because putting in my time is what I do in my spare time. Is what I do when I don’t have anything else that I HAVE to do. It is what I do in my leisure time. If I were there, I’d be in at 5 AM doing pre-game planning and staying till market close. Period. Every single trading day. Why settle for less. Too bad these guys don't do Forex or I'b be tearing down their door to get in.