Top Senior Trader on what it takes to become a successful trader

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Күн бұрын

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Пікірлер: 409

@Batinya 3 жыл бұрын

They KEY to becoming a PRO trader is mastering Risk Management. Period 🙌 and then you can rock any market

@smbcapital 3 жыл бұрын

facts!

@Kid_Ikaris 3 жыл бұрын

So true. Wish I would have learned that a month ago. Started trading with 10x leverage using my whole bank on each trade lol 😮‍💨

@AhmadAhmad-ub6oq 2 жыл бұрын

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

@Kenneth_the_Philosopher 2 жыл бұрын

Genius!

@davidk9711 2 жыл бұрын

@@Kid_Ikaris playing w ⛽

@paulawad9585 5 жыл бұрын

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.

@qubit0002 5 жыл бұрын

@@andreasmelkersson3592 what are examples of strategies with good edge?

@calvinm3054 4 жыл бұрын

And wait for the damn setup!!!

@uynguyenongbao8613 4 жыл бұрын

If you know what you are waiting for. You have no emotion.

@TheAGODAMI 4 жыл бұрын

💯 🎯 💡👍

@femshep4018 3 жыл бұрын

Nah just listen to the video, don't look for time saving shortcuts like a single comment on KZfaq, 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!

@yomama8833 4 жыл бұрын

Trade what you see, master price action and volume. To become a pro at anything you just need to master the fundamentals.

@Daniel-ju3ku 4 жыл бұрын

Thanks, I've come to the same conclusion. It's been a long time coming though

@ryanellion 4 жыл бұрын

Just like sports!

@TheAGODAMI 4 жыл бұрын

💯 🎯 **eXacTLy the foundaTioN and buiLdinG bLocKs laY the bLuepRinT.!* 💰💡

@BrAd_LeY. 4 жыл бұрын

Cut off all negativity n focus on elevating ur trading skills.

@mostresticator5 5 жыл бұрын

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...

@mostresticator5 5 жыл бұрын

TLRY just hit $153 lol

@Josh-nc6nt 5 жыл бұрын

@@mostresticator5 that's why you're doing the interview right. Because he couldn't of possible thought about that.....

@meetmistercox4649 5 жыл бұрын

I'm so upset I didnt get in.... In August.

@boreneoman7728 5 жыл бұрын

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?

@doctorblue6375 5 жыл бұрын

some people don't even trade with charts so take this advice with grain of salt

@swright2134 5 жыл бұрын

This dudes composure is so chill, This is a huge tell for how your mind should perceive the play. Awesome video!

@mbellafiore19 5 жыл бұрын

yes excellent observation about him

@bricebryanjerry 5 жыл бұрын

That posted make my day, thanks a whole lot 😎

@kamiskam420 5 жыл бұрын

My friend's lost 7mil before

@nolaughingmatter 4 жыл бұрын

That is why he is successful. Equanimity.

@esaitellez6323 4 жыл бұрын

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

@ImmyYousafzai 4 жыл бұрын

Hey you the comment reader. I've been trading for ten years. This is the best talk you'll ever listen to. Period.

@LukeOnTheMove 3 жыл бұрын

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.

@griiem 5 жыл бұрын

This is what you need to do more often, let your traders speak. Thanks for your vids.

@mbellafiore19 5 жыл бұрын

agreed!

@arjunkirpal9776 5 жыл бұрын

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!

@OkyCapriatto 5 жыл бұрын

Agree

@oltrelanarrativa 5 жыл бұрын

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.

@seydoudia7828 4 жыл бұрын

As I progress in my trader career I come back often to this video and always get new insights.

@caligirl6610 5 жыл бұрын

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.

@seancollins1734 2 жыл бұрын

I watched this video before but this time I took notes. Absolute gold!

@mridulbhattacharjee3144 3 жыл бұрын

Don’t be hopeful when you should be fearful. Don’t be fearful when you should be hopeful

@ivanvalentini9349 5 жыл бұрын

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.

@mbellafiore19 5 жыл бұрын

My favorite part was when he talked about his ultimate trading goal.

@thestream1 4 жыл бұрын

If you can truly buy low & sell high & have a good reward/risk ratio...look no further, you have the holy grail.

@OkieTradez 4 жыл бұрын

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!!!

@tan00kie 5 жыл бұрын

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.

@mann234 4 жыл бұрын

Trading is like being a good driver. Know your brakes, your speed limits, mirror, mirror, signal, man oeuvre.

@WorldsEdge608 5 жыл бұрын

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.

@jeskg720 Жыл бұрын

you must develop your own strategy and style, cant copy him

@billfranz4488 5 жыл бұрын

Thank you Bella and Top Trader ( i dont know your name) very humble and generous, lots of wisdom.

@ahmedbob423 5 жыл бұрын

His name is Shark.

@savalisadkins4709 3 жыл бұрын

Shark's mindset is super focused and dialed in. Really inspirational.

@Iburn247 4 жыл бұрын

Im busting ass learning this. Not stopping til im there

@sean61s 5 жыл бұрын

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.

@vinvin1715 4 жыл бұрын

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 .

@robnappi2291 3 жыл бұрын

Thank you for all the content and efforts you put out. You are appreciated.

@srirangaswamy8986 4 жыл бұрын

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

@ImmyYousafzai 5 жыл бұрын

This is GOLD - thank you @SMB Capital

@0xD201d 4 жыл бұрын

I am ready to become a good trader and am willing to put in the work to succeed. Every single day.

@josouk5950 5 жыл бұрын

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.

@lugombear2269 2 жыл бұрын

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.

@jtkdmd6266 4 жыл бұрын

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.

@TheAGODAMI 4 жыл бұрын

**pReCiSeLy...ELiMinaTe the eGo as muCh as possibLe.!* 👍 💡 🎯💯

@russellschaeffler 5 жыл бұрын

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.

@qubit0002 5 жыл бұрын

how do you know how many stop orders are being placed?

@JonahGhost 5 жыл бұрын

watch all dvds take parts of what makes sense to you and create your own strategy.

@matty1194 5 жыл бұрын

So many nuggets, loved it! Much appreciated for the content you guys provided!

@mbellafiore19 5 жыл бұрын

you are welcome Matt

@iiDreamzxc 4 жыл бұрын

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 :)

@Jjdcolts 4 жыл бұрын

What's the book?

@berniemiller1217 3 жыл бұрын

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.

@royreyes8422 4 жыл бұрын

the last part is golden; priceless indeed. thank you for sharing. 27:10 will pay good money for such advice. #stayinglive

@tejeshwarsharma6496 2 жыл бұрын

thanks for the book ideas in the begining.. peak performance , emotional intelligence and decision making

@averybrown7342 5 жыл бұрын

Thanks for sharing this, you guys are appreciated

@gorgothom1 4 жыл бұрын

This channel is amazing. I really appreciating every character in each of the videos i have watched so far. Great job Mike. Thank You

@smbcapital 4 жыл бұрын

Much appreciated! thx Shaun

@TwoBlueScrews 3 жыл бұрын

@@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?

@mandarthakar 3 жыл бұрын

By far one of the best videos available

@smbcapital 3 жыл бұрын

thank you!!

@123alexer 4 жыл бұрын

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!

@rosstuck7010 5 жыл бұрын

This is top shelf content.

@allthingsnew6334 4 жыл бұрын

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.

@alialhusseini2650 Жыл бұрын

I've just started learning trading and those info that was given today are very appreciated. Thanks a lot :D

@mariomunix Жыл бұрын

Great material! Congrats SMB!!!!

@eugenesmb5741 4 жыл бұрын

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!

@smbcapital 4 жыл бұрын

Thanks for the suggestion Eugene

@im.azad1 5 жыл бұрын

thanks for sharing! Would love to see more q&a by him

@cchoi108 3 жыл бұрын

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.

@smbcapital 3 жыл бұрын

absolutely! the most important thing. Shark continues to amaze us. Each year he gets better and better

@mpahlsson 5 жыл бұрын

Awesome content! More interviews with real traders, way to go forward for sure!

@PanicAttackRecovery 4 жыл бұрын

Good advice. We like to have good resources to recommend to our community.

@mariaeugeniarodriguezalceg8243 5 жыл бұрын

22:48 Making the move !

@_jamesbradley__ 5 жыл бұрын

😎Thanks Bella and Merritt

@bitcoinbrokers9607 5 жыл бұрын

"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

@batmunkhn6666 4 жыл бұрын

How r u doin now

@1n5an1ty5 5 жыл бұрын

Thank you for this content!

@Ro-Bucks 2 жыл бұрын

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.

@markj8038 Жыл бұрын

Discussion on tight stops and re entry would be great! Thanks

@jordanbailey5069 5 жыл бұрын

He looks like he could be Ross Cameron's younger brother.

@TheBoyDiesel 5 жыл бұрын

Hahahahaha

@maddenfootball 5 жыл бұрын

Thank you for sharing this content.

@g.g.rebimik8455 5 жыл бұрын

Some great advice, thanks!!!

@thewealthysoul5340 4 жыл бұрын

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.

@smbcapital 4 жыл бұрын

You're welcome! We should have more vids from Shark in the future

@simontherrien4169 4 жыл бұрын

man I needed this .... THank you

@raimonds7459 5 жыл бұрын

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.

@mbellafiore19 5 жыл бұрын

understood

@gchap7986 Жыл бұрын

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

@internap627 4 жыл бұрын

TLRY certainly was a good call

@FaintAura 4 жыл бұрын

I consider myself more of a swing trader, but I enjoyed this and took some good points from the presentation.

@ronmays7 Жыл бұрын

Golden advice, it is not easy, for me is taking years to get the swing and I am a beginner after years it seems

@b_gumm 5 жыл бұрын

Thank you

@polthomaskeeley7860 5 жыл бұрын

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.

@MrAmbrosse 4 жыл бұрын

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.

@michelstuart8156 5 жыл бұрын

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.

@robbmadej5571 Жыл бұрын

Love this style of video!

@illegalsmirf 4 жыл бұрын

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.

@TheAGODAMI 4 жыл бұрын

**Yup seLF-esTeeM bRuH.!!* 💪

@mvstube38 3 жыл бұрын

He is comparing skills. Federer as a trader is not 1 percent of this guy. Each person with its on talent. Tat is all.

@maheshpatil4628 11 ай бұрын

- Work Hard, - Challenge yourself, - Journalling your trades, - Enjoy the Process - Money is by product - Deep understanding of your trades

@thunderwl554 3 жыл бұрын

thanks for sharing

@harshagolla9688 4 жыл бұрын

This guy is so cool.

@chrismingacci7494 2 жыл бұрын

A lot of great info right here! Thank You!

@markwalker5543 4 жыл бұрын

The title should be, “What it takes to be successful DAY trader”. Very important information for beginners.

@TheAGODAMI 4 жыл бұрын

💯 💯🎯👏🎯 👏

@oatv308 5 жыл бұрын

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.

@mbellafiore19 5 жыл бұрын

ok thxs for the feedback

@mountainlion4807 5 жыл бұрын

Hello. Please post a video on traps? And can you talk about them on diffrent time frames? Thank you.

@skibbatechno 5 жыл бұрын

Really enjoyed this video, thank you

@angrygamr-6825 5 жыл бұрын

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.

@sblive7239 4 жыл бұрын

This guy has to be one of the coolest, calmest trader ever! Awesome video!

@gowiththeflow2568 2 жыл бұрын

Thank you for the awesome video

@rkatz0 5 жыл бұрын

Very good, thanks!

@U.B.77 5 жыл бұрын

Great vid, Thanks!

@JaimeGarcia-kx8cs 5 жыл бұрын

I would pay to see some example of Shark trade... entries, exits, sizing...

@s_w_c 3 жыл бұрын

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?

@michaelcampos2509 5 жыл бұрын

damn man so much stuff to learn got to got to ny

@georgekatcharava6087 2 жыл бұрын

really great advice! makes perfect sense!

@Damien81ful 5 жыл бұрын

Learning how to trade is different from hands on experience

@JamesPossible 5 жыл бұрын

at least 26 solid points shared and to be understood...not sure if i understood the term correctly... what is "stack crunching"?

@P4pgq10 5 жыл бұрын

Thank you for sharing. Love these kinda talks!

@mbellafiore19 5 жыл бұрын

noted!

@seb1586 5 жыл бұрын

GQtrades has

@alexmartinez3865 Жыл бұрын

Thanks great value!

@Stagnak 5 жыл бұрын

Thanks for this, full of useful information for current and aspiring traders. Longer time frame trading for days or weeks is mentioned a little bit in this video, could it be possible to have more videos covering strategies for those time frames?