SMBU’s Options Tribe Webinar: Options Tribe Trading Contest Leaders Share Their Strategies and Trading Philosophies

December 5th, 2017

This week, four members of the Options Tribe will be sharing the strategies and philosophies that have helped them to rise to the top of the 2017 Options Tribe trading contest.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog

Improving your trading results on the open

 

One developing firm trader struggled trading the open.  He sought a one-on-one to discuss improvement trading the open with me.  He sought counsel from Dr. Steenbarger as well.

I made some suggestions and it was up to this trader to execute on solutions to improve.

He did.  Boy did he!

After implementing solutions for this challenge of trading the open trader wrote:

Hi Bella,

We talked a little over a month ago about The Open. I had identified in my Monthly Review that this was an area I needed to improve on, and we talked about the idea that I should have a separate Playbook for The Open. I’ve been working on this. I’m really excited that I’ve been starting to find more success during this time period (see below for my stats on the open since October). In an effort to review and try to identify what is working in order to distill the variables for my Playbook for The Open, I’ve compiled a template reviewing all my profitable plays made at The Open in October (attached). I’m looking for patterns and looking to widdle this down to the “best of the best” for my Playbook. I will continue to do this exercise for November.

Some of the things I’m learning are:

I’m finding more success when coming up with specific stocks and specific ideas for The Open that are separate from my top ideas for the day. Most of the time, my top ideas for the day are not good ideas for the open…they are often too volatile and are usually meant for a bigger picture intraday swing idea setup later in the morning/day.

I’m finding more success with targeting lower priced stocks and/or less volatile stocks to trade at the open that help make it easier to control my risk.

I’m finding more success when focusing on taking profits and reassessing. However, this is not to say I should not be trying to hold an Opening Drive for the meat of the move. And I’m finding that if I enter a Backside Short into strength at the open, this is often an opportunity to hold a piece for a swing.

The trades I’m making at the open are usually not my most profitable trades of the day, but if I can build consistency at the open, they can provide a nice cash flow that can put me in a position of strength when attacking my bigger picture ideas later in the day.

My plays at the open are looking a lot like my general Playbook (higher timeframe momentum + outside ranges + intraday triggers) but with a different approach.

@MikeBellafiore back again

Let me be clear.  This is extraordinary work by a developing trader.  The quality and thoroughness of his work stands out relative to his peers.  It is worth copying by the trading community.

What I like most about his note, is trader found solutions for a challenge.  Trader developed specific trades for the open, with clear variables, to trade that made the most sense to him.  Trader measured his results.  He archived the real-time examples of the best traders for him on the open for study.  Trader now knows what to look for on the open.

In short, this is how you do it.  This is how you improve as a trader.

As always your questions/feedback are welcome- mbellafiore@smbcap.com.

*no relevant positions


SMB Training Blog

Webinar Lessons from 18 Years of Active Trading with Corey this Thursday

I’m so excited about this opportunity to share with you the lessons – good and bad – from my 18 years as a swing and intraday trader.

Our featured webinar with Mike at Futures.IO will take place this Thursday right after market close:

It’ll be both an introspective look at my trading journey – most likely paralleling your journey along the way – and will include specific lessons I’ve learned that I wish I knew earlier.

My goal is to assist you at whatever point you are currently in your trading journey by sharing what’s worked, what hasn’t worked, what’s important, and what’s not from my 18 years in the markets.

Go ahead and register now and grab a notepad!

Thank you to Mike and his team for this introspective educational opportunity and we can’t wait to see you there with us live!

Corey

 


Afraid to Trade.com Blog

SMBU’s Options Tribe Webinar: SMB Options Desk Trader John Locke: The M21 Options Trading System—Playing Chess with the Market

November 14th, 2017

This week, John Locke returns to the Options Tribe to present the M21 options trading System which synthesizes many of his signature trading strategies, technical analysis, and trade planning.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog

SMBU’s Options Tribe Webinar: Gavin McMaster of Optiontradingiq.com: The Wheel Options Trading Strategy

October 31st, 2017

This week, Gavin McMaster of Optionstradingiq.com returns to present the Wheel Options Trading Strategy for cash income generation. We look forward to seeing you then.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog

SMBU’s Options Tribe Webinar: Steve Lentz of Optionvue Systems, International: Timing the Entry of Butterflies, Condors and Vertical Spreads in $SPX Index Optionsk Options Trading Strategy

October 24th, 2017

This week, Steve Lentz of Optionvue Systems International returns to the Options Tribe to discuss his approach to determining the best time to place $ SPX  iron condor, butterfly and bullish put spread trades. He also will demonstrate how he determines the likely direction and volatility of the $ SPX index.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog

SMBU’s Options Tribe Webinar: SMB Options Desk Trader John Locke: Transform Your Trading With The Rock Options Trading Strategy

October 17th, 2017

This week, SMB Options Desk Trader John Locke will be discussing his popular Rock Options Trading Strategy which has provided the best long-term returns of all of John’s rules-based options strategies.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog

Solutions for improving your trading entries

Hi Mike,

Hope your doing well. I just wanted to let you know how much I appreciate your book, “One Good Trade”. I have the audible version and with my hour commute to and from work to (brokerage firm). I’ve listened to it countless times.

Yesterday afternoon I decided to listen to it after a rather disappointing month of trading and caught the segment “price matters”. I thought it was an answer to prayer to be completely honest.

Lately, I have been trading more on the long side on support plays (mostly a reclaim of vwap, consolidation, or pullback to it). One thing I’ve noticed is my entries have been poor as I am not getting an entry near as tight as it should be around my planned entry point.

Some of it is has to do with slight hesitation, but also just not fighting for price like you mentioned in your book. Listening to you expound on this subject and reinforcing how important it is if you plan to go long at 36 that doesn’t mean 36.18, etc… has made me understand what separates those at the top of the food chain and the wannabe’s.

My planned risk gets skewed which leads to getting shaken out of more plays than I should with a sloppy entry. I definitely have a major goal I will be working on this month thanks to you and even though I am not physically there on your desk you are actually mentoring me through your books and videos (SMB Premium) more than you could know.

I hope you have a great weekend and once again, thank you!

@MikeBellafiore

This trader seeks to improve his entries.  I agree with him that this is a *very* important skill for active traders.  It can be the difference between success and underperformance.

I really applaud this trader for finding a major goal to work on for the month.  This is an excellent best practice for improvement.  One that we employ on our desk, inspired by Dr. Steenbarger.

Many traders on our desk design a report card on a monthly goal.  Intensive study on one goal helps trader make the most progress possible on this one issue and their trading overall.  Solutions wrapped around best practices are also essential.

Last week, I had conversations with two traders on improving their entries.  One developing trader asked about dark pools for improved entry and exit fills.  Trader felt this was necessary for the next step forward in his trading.  I suggested to another *very* large trader to improve their bid/ask percentage so they could trade even bigger and not leave as much money on the table.  Traders met with a Senior Trader on how best to use our routes and technology internally and walked away with solutions.

Let’s tackle this one issue for the trader above with some possible solutions to consider:

  1. Increase your bid/ask ratio.  How often do you bid to enter and offer to sell?
  2. Study access to dark pools so you can improve fills for bidding and asking.
  3. Create entry rules on how far above price you will bid.  For example, you might not allow entry to be above 5c of your price.

The key is to find solutions to improve performance and focus intensively on them for the month.

As always, I welcome your feedback/comments/questions at mbellafiore@smbcap.com.

*no relevant positions


SMB Training Blog

Trading lessons from Happy Hour

We held a traders Happy Hour last night for our proprietary trading firm.

Some of the new hires having a blast asked how often we hold Happy Hours.  And I thought, “What we don’t cover this during recruiting?”  Note to HR.

Rooming the room to check in on everyone a few trading lessons emerged:

  1. Traders were gathering and discussing new ways to make money.  As we say on our desk, how to expand your PlayBook.  The better traders were using this Happy Hour as an opportunity to brainstorm with other top traders.  One idea discussed between two top traders was something that had never been done at the firm and worthy of a deep dive.  Some more beers over here please.
  2. Some promising developing traders were using the Happy Hour as a way to review the past week.  A gaggle on the desk had two tough days followed by two very strong days.  How could they draw down less during the down days?  How could they have been bigger during the strong days?  Were they leaning too heavily to one side, rather than being more open-minded?  How is the AI run-up different than other low float runners?
  3. The most social developing traders were chatting up the top traders about trade ideas and the generation of trade ideas.  They were using the strength of their social skills to strengthen their learning.  This is a good practice for those who learn best thru interaction.  It is not just that you want to build a trading system that allows you to express your strengths in markets, but the way you work to improve ought to match your learning strengths as well.
  4. The Three Monkeys Bar has a really nice roof top bar and beer garden selection.  It was enjoyable to be outside in beautiful weather right before the chill is to come.

I had to head home to get the kids ready for bed before the end of this gathering.  My sense is I may have missed a few things that the younger traders did not.

*no relevant positions


SMB Training Blog

SMBU’s Options Tribe Webinar: Ophir Gottlieb of Capital Market Laboratories: Scientific Options Trading

October 3rd, 2017

This week, former CBOE market maker Ophir Gottlieb, of Capital Market Laboratories, makes his debut appearance on the Options Tribe to discuss how he applies science to his options trading in a manner that identifies repeating patterns in equities, especially right before and right after earnings. He’ll be discussing:

  • How to exploit pre-earnings momentum patterns,
  • How to spot when an options strategy is likely to fail
  • How to match the correct options strategy to a given stock
  • An easy method to exclude likely losing strategies from your trading plan.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog

Get Your Copy of the Big Book of Pro Trading Strategies Today

I’m excited to announce that I contributed an in-depth chapter to the new “Big Book of Professional Trading Strategies” which was just released.

You can grab your own personal copy free!

Big Book of Pro Strategies Free

I discuss the “TCZ Trend Confirmation Trading” Strategy for you as my contribution.

You’ll also learn tactics, trade set-ups, information, and ideas from 17 other professional traders as we share our favorite trades with you.

Don’t miss out!  This strategy guide is free for now.  Download your copy here.

I’m honored to contribute to this strategy guide and hope you pick up a few new actionable trading ideas from it!

Corey

 

 

 


Afraid to Trade.com Blog

When you are trading well…..try this

During a daily review one of the firm’s top traders observed this about this trading:

 I am feeling confident about my trades, seeing the markets well, and want to leverage this period here to trade aggressively as long as I am staying in sync.

Dr. Steenbarger has taught us traders to study, study, study the trading periods when you are having success.  And using this idea as a backstop, I asked the trader to think deeply about why he is seeing the markets so well during this period.  We are not just students of trade setups but of ourselves.

Another consistently profitable trader on the desk has felt in the zone lately:

 I feel like I am finding more good trades and the market is becoming a little better so as long as that remains the case I will be looking to push my best trades a little more now that I feel zoned in.

Again, it is important to study all the things you are doing throughout the trading session that are leading to this period of outperformance.  This particular trader excels on the desk when he excels with his life balance.

And trading at your best is often not just you are more right about your trade predictions.

Or that you manned up with conviction in the right trades.

It is the very real trading reality that this is performance sport.  We perform best under certain conditions.  Some of them relate to markets and personal market calls.  But a great deal relates to putting yourself in your best position to win.

Things such as:

  • When you get to bed.
  • When you arrive at the office.
  • Trading in the same seat consistently.
  • Following a consistent pre-market and after hours routine.
  • Supplementing idea flow with technology.
  • Sending a daily trade review to mentors and coaches on the one goal receiving your focus.
  • Wearing the same underwear.  JK

This is what we see as important for trading performance on our desk of late.  I hope it gives you some ideas to help improve your trading.

As always, I welcome your feedback/questions at mbellafiore@smbcap.com.

*no relevant positions

 


SMB Training Blog

SMBU’s Options Tribe Webinar: Amy Meissner: The Nested Iron Condor Options Trading Strategy

September 19th, 2017

This week, Amy Meissner will be returning to the Options Tribe to present the Nested Iron Condor strategy which she has personally developed and traded for years.

Options Tribe meetings are generally free to the public and are held every Tuesday at 4:30PM ET. If you wish to register to this meeting, please click here.

We look forward to seeing you at the meeting!

Seth Freudberg
Director, SMB Options Training Program

The SMB Options Training Program is an eight-month program designed for novice and intermediate level options traders who are seeking an intensive training process to learn how to trade options spreads for monthly income. For more information on this program contact Seth Freudberg: sfreudberg@smbcap.com.

No relevant positions
Risk Disclaimer
Futures Risk Disclaimer

Options
Learn options spread
strategies for monthly
income from experienced
options pros


SMB Training Blog