What worked well on our trading desk in 2017

2017 was a very strong year for our trading desk in NYC.

After such a strong year it is important to study what went well so we can do more of it in 2018.

So what worked well for our trading desk in 2017?

Team Trading

Senior traders who embraced building Teams made more.  Junior traders who were willing to assist learned more and sped up their learning curve.  This Team is an example.  

The Daily Report Card

The Daily Report Card sparked our biggest improvement in 2017.  You can find more about that here.

Trading Bigger

Responsibly and consistently increasing size, in measured edge and where trader has shown consistency, helped traders increase their trading size and make more. Here is an anecdote of a firm trader successfully trading bigger.  One firm trading manager in Austin says this well to traders by asking them to set risk per trade and the stop and using that to quantify if they are big enough.

Stock selection

Trading the right stocks.  Dr. Steenbarger said it well in this post about key ingredients to success in 2017 that he observed: what you trade is as important as how you trade.

Cryptocurrencies and Blockchain

Open mindedness to bitcoin, other cryptocurrencies, and blockchain opportunities was key.  For example, experienced and stagnant traders started trading these opportunities and seeing solid PnL improvement.    

Sticking to the process

Sticking to the process! Even if trader is not seeing PnL jump immediately.  One senior trader stuck to his process and then experienced new success levels.  

Doing more with technology

Weekly technology meeting for Teams is a best practice to build on in 2018.  Meetings once a week as a Team and discussing what can be built to help the Team make more and play more offensive with their best trades is an excellent best practice.

Improved trader training

New hires are much better versed in technology and modeling because of our revamped Trader Development.  Once a week our head automated trader in NYC held a class on technology and modeling.

2017 was a strong trading year for NYC.  We have challenged traders to develop trading goals for 2018, building from 2017.  And we have started meeting with traders individually to start planning their improvement for 2018.

We are grateful for your feedback/comments/questions- mbellafiore@smbcap.com.

*no relevant positions

 


SMB Training Blog

[Recording] SMB Webinar: What Worked Well on the Trading Desk in 2017

In this webinar, Mike discusses the work he has been doing with SMB traders reviewing what they did well in 2017 and coming up with plans on how to do more of it, figuring out what their weaknesses are and help them with their goals for 2018. He will also share some best practices for you to incorporate into your trading.


SMB Training Blog

Well That Worked Out

As I’m working with my team on New Slope, I’ve been reviewing our videos to see which are still useful and which need to be tossed. One of them was about analogs, and even though it was recorded over five years ago, it worked out great. Here it is: For those who didn’t watch the […]
Slope of Hope

The Base Worked

I had almost forgotten about the post I did in January, but in it I pointed out the very bullish pattern that bitcoin (of all things) was exhibiting. Here’s what it looked like four months ago: And now, having shown that technical analysis works even on goofy new digital financial instruments, we have seen it […]
Slope of Hope

Misery–Nothing Worked Today $CREE $STX $EAT

(1/25/17) Things didn’t work out so well today. Technically, EAT trade idea worked perfectly but I forgot to enter my “trading script” pre-market so I missed the short at 46, which worked perfectly trading down $ 2 to our first support area. It’s actually my second favorite setup for a stock reporting earnings: poor EPS & guidance that pops to well defined resistance right on Open and fails.

No excuses for missing this one. Nailed the levels perfectly. Finished our AM Meeting at 9:10AM so had 20 minute to enter all my scripts prior to market Open.

The next two stocks: STX & CREE are a different story. Got stopped Read more […]
SMB Capital – Trading Education

Ten Trades That Have Actually Worked

You know there is a way to generate profits by trading.
You know there is some setup, some strategy, some system that you can trade to get on the right side of the market and generate these profits.
Unfortunately, most traders never experience that reality. We know this because we’ve surveyed thousands of traders.
But… rest assured… some do make it. And they don’t make it by luck.
How do we know it’s not luck?
Because the traders that do make it continue to make it… year … after year… after year.
Wouldn’t it be nice if you could see the setup, the strategy, the system that these traders are using to generate big Read more […]
SMB Capital – Trading Education

Hey The Emini Fibonacci Grid Worked Update August 2

While price expanded the lengthy trading range, we saw this morning’s price action pull back to our known Fibonacci Target.

Here’s today’s updated Fibonacci and Emini (@ES) trading levels for your plans and trades:

Here’s a reference guide of how to use and trade from these morning updates.

We still can’t use our larger Fibonacci Retracement Grid levels WITHOUT an actual larger retracement.

While the 2,170 @ES level is resistance, price has been playing “ping-pong” between it and 2,150.

Today finally gave us a deeper retracement to our 23.6% Fibonacci Level at 2,145.

Not only did price collapse straight toward this level, but as of right now we’re seeing at least a small bounce “up away from” this Fibonacci Pivot.

That’s precisely how we use these Fibonacci Levels – they’re targets and possible short-term reversal spots.

Want these levels and additional analysis/strategy planning in advance each evening?

Get these levels in advance with in-depth planning and trading opportunities by joining the Daily Membership.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).


Afraid to Trade.com Blog