Yes! Focus on The prosess and not The reward and The money will come If ITs supposed to come. Psychology IS The most important thing in trading. Thank you for The reminder!
A good trick I use while daytrading Eminis is to not watch the running P/L but the number of ticks. This makes me more disciplined and no emotional seeing the amount of $$$'s
Overconfidence due to past gains might soon lead you to make easier and less ideal entries into the market. When you’re riding high, you may have less consideration of all the information needed for your entry. In instances like this, overconfidence leads to glaring mental blind spots when you’re not aware of all the hazards that are waiting out in front of you. This is why you should cover your balance and just do ONE GOOD TRADE ONE GOOD TRADE ONE GOOD TRADE .
Great video!!!!! “One good trade!” Then: Repeat….. Thank you for sharing… This concept cuts through all the ‘noise’, and concentrated on WHAT REALLY MATTERS! So much positivity from your channel! Looking forward to more of your posts!!!! Thank you!!!!
It's about your mindset and your trading process if it has an edge. Once you have a proven edge, the implementation of that edge by refining your trading process is what could make you an elite 8 figure a year trader is the message I get from Mike. I believe that is how anyone in anything becomes elite, not focusing on the result when you're in flow. If you're not doing what he says, you're failing to think in probability which will take away from your trading edge if you have it. Thank you SMB for all you do!
Great point actually. I feel great whenever I see it hit the mark at all, or even if it goes right below the stop loss; that shows I know what I’m doing and the levels I’m placing aren’t just random, mere slight adjustments help the most
Remember our jobs in trading is not lose 🤑 money, it's to lose our livelihoods in the quest to become the best we can be,...truer words were never better spoken.
For me one good trade is to complete a thorough and exhaustive analysis that only leaves a high probability outcome with proper risks and protections. Sometimes it's tempting to take the easier slothful route and skim the thorough research. Done that. Win rate goes up significantly when adherence to prudence.
People say that 99% of trades fail.. it's because 99% of all traders just focus on getting rich quick, they want the "Lambo money" but they can't even make one good trade.. You trade a strategy, then the money follows.
There it is. We all want that lambo money, that Porsche money, but I found it’s best to find joy in actually succeeding at each trade. Otherwise your brain gets sad when no lambo shows up after ten good trades
Sometimes I have to stop myself from making "the made up " trade. I read and read the charts and somehow convince myself of entry when I shoud just not trade.
THAT is what’s hard to get about “revenge trading”; you’re not necessarily purposefully trying to make up the loss, but your brain will want to find a recourse for it
You take an great setup with a high probability and it fails and goes against you because a market mover takes it the other way, There’s nothing you can do about that except get out, still a good setup you had to take.
define a good trade, if it is NOT winning or losing, what is it? Trading is a ZERO SUM game, that is it. If you are losing the trade, and still think it is a good trade, what is the lesson to be learned?
Missed the point. The point is that you followed the rule set properly, that you didn’t take any unnecessary risks, that you had a good stop loss and take profit. That’s it. Many times that perfect setup doesn’t hit, that’s the game. Just because you lost on the trade doesn’t mean you did bad, but you can gamble on a trade, hit it, and have traded poorly.
Not sure if I like this messaging.. Sends mixed signals. You say the job is not to make money then in the same sentence say, we want to make 8 figure earners… I don’t understand the 1 good trade slogan.. 10 good trades can be canceled by 1 bad one so I’m not understanding the ideology in this…
I think what he is saying is, not to focus on your PnL , instead focus on managing the trade, where should I enter, what's my risk, where should I exit. Do I have a set up and a thesis. Then the results will come, if you have edge . One Good trade after another, rinse and repeat.
@@Leytonstone09 That’s not what it says to me.. One Good trade sounds like you are trying to catch a lucky break.. That one banger! If you don’t have a strategy that includes risk management then you don’t plan to be trading very long.. Not only should you pay attention to PnL but you should track it daily, monthly, however often you trade and study your performance. How do you know how effective your strategy is if you don’t keep track of it. What is your win percentage? You can’t tell me because you are just focused on making one good trade… I hear you.. but I stand by what I said.
@@ATLJB86 from my perspective it means don't let your PnL and psychology that goes with it, dictate how you should manage your trade. You should of course always know your risk and follow your rules for managing the trade. But also have reasons to hold and reasons to exit based on how the trade is working or not, separate to whether you made your "5000$" for the day for example. Yes stats on PnL are important and can (among other things) form a bigger picture view of what is working for you and what isn't. Not relying on lucky breaks, ever, but they can be a part of your trading. Bella's book "one good trade" explains it better than I can in a tweet.
@@Leytonstone09 Yeah, I’m just trying to understand the concept behind it. Consistency is the most important thing and I don’t see anything speaking to consistency by saying one good trade. Unless that’s a daily slogan and not an overall mindset.
Don't make impulsive dumb trades, make trades based on good technical analysis, knowing when to enter and exit at the right points.
Yes! Focus on The prosess and not The reward and The money will come If ITs supposed to come. Psychology IS The most important thing in trading. Thank you for The reminder!
A good trick I use while daytrading Eminis is to not watch the running P/L but the number of ticks. This makes me more disciplined and no emotional seeing the amount of $$$'s
Overconfidence due to past gains might soon lead you to make easier and less ideal entries into the market. When you’re riding high, you may have less consideration of all the information needed for your entry.
In instances like this, overconfidence leads to glaring mental blind spots when you’re not aware of all the hazards that are waiting out in front of you.
This is why you should cover your balance and just do ONE GOOD TRADE ONE GOOD TRADE ONE GOOD TRADE .
Define a “good trade” other than one that makes money…
Great video!!!!!
“One good trade!”
Then: Repeat…..
Thank you for sharing…
This concept cuts through all the ‘noise’, and concentrated on WHAT REALLY MATTERS!
So much positivity from your channel!
Looking forward to more of your posts!!!!
Thank you!!!!
The book, One Good Trade is full of gems!!! Love it!
Just bought Mike’s book One Good Trade. Can’t wait to read it this weekend!!!
I've watched many SMB videos over the last 10 yrs. This short video I would rank in the top 1%. I plan to rewatch weekly....
It's about your mindset and your trading process if it has an edge. Once you have a proven edge, the implementation of that edge by refining your trading process is what could make you an elite 8 figure a year trader is the message I get from Mike. I believe that is how anyone in anything becomes elite, not focusing on the result when you're in flow. If you're not doing what he says, you're failing to think in probability which will take away from your trading edge if you have it.
Thank you SMB for all you do!
I'm planning to listen to this every day. So well said.
I love this channel! There is always premium content.
That’s so true! Agreed 100%
Great point actually. I feel great whenever I see it hit the mark at all, or even if it goes right below the stop loss; that shows I know what I’m doing and the levels I’m placing aren’t just random, mere slight adjustments help the most
The book though, game changer, thank you Bella and SMB CAPITAL
What’s the name of the book?
One Good Trade
@@siriussaracen8371 LoL 🤣
@@CandleMan5 what’s so funny
@@siriussaracen8371 That the book name is so obvious
Powerful principles
wow this is reall elite advice thanks!
a trader needs to only make one good
This is absolutely true
Remember our jobs in trading is not lose 🤑 money, it's to lose our livelihoods in the quest to become the best we can be,...truer words were never better spoken.
Love this Mike!
Facts Mike,Good shit bro 💪🏾
Job is keeping discipline to execute a trading strategy/plan.
still loving this book...i will be an elite...as long as i apply what im learning from smb capital and from Michael.
Thanks boss.
To manage risk Mike!! Manage your risk....
For me one good trade is to complete a thorough and exhaustive analysis that only leaves a high probability outcome with proper risks and protections. Sometimes it's tempting to take the easier slothful route and skim the thorough research. Done that. Win rate goes up significantly when adherence to prudence.
Now is it informational analysis, or is it pattern trading / candle stick analysis?
One Good Trade
One Good Trade
One Good Trade
Pure Gold
Is it though? What is a good trade, if not simply one that is profitable?
👍 thank you
Thank u so much now and overall🙏
I watched the guy who got your picture on the wall with candles :-)
People say that 99% of trades fail.. it's because 99% of all traders just focus on getting rich quick, they want the "Lambo money" but they can't even make one good trade.. You trade a strategy, then the money follows.
There it is. We all want that lambo money, that Porsche money, but I found it’s best to find joy in actually succeeding at each trade. Otherwise your brain gets sad when no lambo shows up after ten good trades
Great advice once again from Mike and SMB. Thank you!
Yessir, process over profits always
inspirational thank you smb
If you have a system, and 60% of the time it works out, and covers your risk on the other 40%. Who cares? Keep going, and you will be net positive.
Valid ☑️ 💯
One Good Trade
One Good Trade
One Good Trade
One good Dollar Remaining in a 2k$ account
Wonderful advice ❤
Sometimes I have to stop myself from making "the made up " trade. I read and read the charts and somehow convince myself of entry when I shoud just not trade.
THAT is what’s hard to get about “revenge trading”; you’re not necessarily purposefully trying to make up the loss, but your brain will want to find a recourse for it
I read that in a book. Can’t recall the title.
The disciplined trader
What is a good trade?
I’d love one day to be a good enough trader to join your team.
OK I almost get it. But how do you define a good trade.
And does it mean one good trade as not multiple trades in a short time?
Where do i learn to be an elite trader?
What defines a good trade then if it is not making profit ?
And how is a loss making trade a good one ??
Am actually reading your book now
One Good Trade
One Good Trade
One Good Trade
great lesson
This has helped me since I first watched this video
Nice
well said.
how many traders does your firm have to hire and spit back out before you aquire a profitable trader?
How is it a good trade if you lose?
🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥
One good trade followed by twenty bad trades is a disaster.
And then the manager at the hedge fund says "I'm glad you are making a lot of one good trades, so what is your P&L?"
underrated video here
Needed this...
❤❤❤❤❤❤
one good trade it's all it takes
lots of one good trades
Its my dream to join SMB and I’m going to ensure it comes to pass.
Solid
One good trade
is a trade that wins right?
So the goal is to trade to win
I been tryinh to join smb for a while now but dont find enough infor to get started .
How is a good trade losing money?
You take an great setup with a high probability and it fails and goes against you because a market mover takes it the other way, There’s nothing you can do about that except get out, still a good setup you had to take.
focusing on our pnl is not how you become an elite trader. smb capital is interested in developing elite 8 figure traders. ok...
Yes it is
Actually agree!
FYI I could have painted that for you guys for half the price ;)
Can traders trade options
Amen!!!!
Is this a part of a longer video?
Filmed this as a short, but we may have a longer version later this week
I hope so because I really don't like these "shorts" videos. :-(
I want to work with smbcapital
I want to join
Looking good with a bit of stubble there Bella , very Hollywood
you should see me walk around the office in my socks Ian
@@mbellafiore19 haha... a little Risky Business
Co-sign
*Your job is to TAKE money 💰 not make money, it's the FED's "job" to "make" money!*
How about "51% good trades"?
Instructions unclear, Does 3 bad trades
95% of traders lose money - 95% of these comments lose money including me. How to get into the 5%.. psychology.
🎉🙂🙏🏻
What make a trade 'good'
Too focused on the money
So I burnt my first account
Bro gonna get a write up and get sent home. 💀
Not much different than a casino owner 😎
How many traders at SMB have made 8 figures this year so far this year in 2022?
This is marketing fluff
It’s just common sense
It is just like when the surgeon said "the operation is successful but the patient dies"
I hope the patient isn't our account in this analogy. 😂
define a good trade, if it is NOT winning or losing, what is it? Trading is a ZERO SUM game, that is it. If you are losing the trade, and still think it is a good trade, what is the lesson to be learned?
Missed the point. The point is that you followed the rule set properly, that you didn’t take any unnecessary risks, that you had a good stop loss and take profit. That’s it. Many times that perfect setup doesn’t hit, that’s the game. Just because you lost on the trade doesn’t mean you did bad, but you can gamble on a trade, hit it, and have traded poorly.
Your job is to generate commissions
You got ripped off by that piece.
🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯
You don't need a talented painted for that
It's called _trading._
famous artist and it looks like something a grade school kid can do haha
Your stubbles are distracting... Go shave man☹️
Stop being OCD
Not sure if I like this messaging.. Sends mixed signals. You say the job is not to make money then in the same sentence say, we want to make 8 figure earners… I don’t understand the 1 good trade slogan.. 10 good trades can be canceled by 1 bad one so I’m not understanding the ideology in this…
I think what he is saying is, not to focus on your PnL , instead focus on managing the trade, where should I enter, what's my risk, where should I exit. Do I have a set up and a thesis. Then the results will come, if you have edge . One Good trade after another, rinse and repeat.
@@Leytonstone09 That’s not what it says to me.. One Good trade sounds like you are trying to catch a lucky break.. That one banger! If you don’t have a strategy that includes risk management then you don’t plan to be trading very long.. Not only should you pay attention to PnL but you should track it daily, monthly, however often you trade and study your performance. How do you know how effective your strategy is if you don’t keep track of it. What is your win percentage? You can’t tell me because you are just focused on making one good trade… I hear you.. but I stand by what I said.
@@ATLJB86 from my perspective it means don't let your PnL and psychology that goes with it, dictate how you should manage your trade. You should of course always know your risk and follow your rules for managing the trade. But also have reasons to hold and reasons to exit based on how the trade is working or not, separate to whether you made your "5000$" for the day for example. Yes stats on PnL are important and can (among other things) form a bigger picture view of what is working for you and what isn't. Not relying on lucky breaks, ever, but they can be a part of your trading. Bella's book "one good trade" explains it better than I can in a tweet.
@@Leytonstone09 Yeah, I’m just trying to understand the concept behind it. Consistency is the most important thing and I don’t see anything speaking to consistency by saying one good trade. Unless that’s a daily slogan and not an overall mindset.
@@ATLJB86 he is saying that if u want to make money you dont trade
That’s the only job of a trader, make 💰💰💰💵💵💵
No, it’s to make good trades. It just so happens that money follows