It makes sense to learn setups & at the same time get exposure to different markets or area of equities in play. Creates more opportunities to see how it trades & a chance to apply it while finding what works. Something I noticed when first started trading, cryptocurrencies in 2017, then a period followed where my consistency declined because that market shifted bearish & my strategies were not producing alpha & I was not able to trade short due to brokerage restrictions (however it did provide time experience/exposure). Fast forward now being exposed to additional markets, many other setups/playbooks & the ability to trade both ways + different products, my consistency is improving (while maintaining proper risk management). It does take time to internalize, program, & develop the systems. I remember Shark & Swang saying something around 6 years & that’s building from the ground up + full time ! What you guys teach/coach in the courses & content here continue to help by a great margin and so many traders in the community. Thank you & much appreciation !
thanks for the insight! Seeking to understand what the market gives you (rotating sectors, catalysts, clear trends) as opposed to trying to predict(focusing on certain stocks, being a one trick pony) is a major game changer.
I think learning a particular setup or strategy is best. It's a matter of preference, what ever works best for that particular trader. For me the thing is, regardless of the equity, Price Patterns repeat themselves in all equities. So "Setup Patterns" apply to all equities. Of course it is possible to trade one basket of equities and be familiar with how these particular trade and understand they're fundamentals on a deeper level. But ultimately, for intraday traders, we are trading setups and patterns, which again, repeat themselves in all equities. Why limit ourselves to one particular stock. In these beginning stages I am in, I find that I trade mid caps better. $50-$100 stocks tends be my sweet spot. So I have been focusing more on stocks within this price range.
I started out with one stock and also kept an eye on the sector related to it. This was my one and only focus during the market open. Great lessons learned. When markets closed I worked on my playbook and picked the best opportunities from a larger pool.
Thank you Steve and SMB. Learned a lot and the line that really stayed with me is to paraphrase, 'create your playbook [ my question has been how exactly is the term playbook being used] and then,boom, your playbook will be the patterns i trade and the catalysts that create those patterns. Clarity! and then learning how to scale into it....Thank you. SMB is the goldstandard for educational trading videos for the trading community!
I tried trading one instrument for a month or two and damn it is tough. The lack of opportunities may lead you to make the dumbest of trades and spiral into a rabbit hole, for beginners mostly. It is much easier to trade stocks in play. There is opportunity every single day and you know exactly what you are looking for.
Great video Steve. For myself as a newer trader I have taken the time to get good at a few strategies but the breakout trade is my favorite A+ setup. What I like the most about it is that it is a pretty straight forward setup (thx to Ryan Trosts video on scalping) and if you know how to identify stocks in play, it is a setup that presents itself quite often even on low volume days like yesterday. I've been working really hard at this setup and it is really paying off at the moment and I am still working to develop my playbook further. Thanks for the video.
I think something to think about is how are you defining what are different product types. Is one strategy being used across multiple FX pairs considered trading across products? Or would you consider it to be the same as what SMB is doing?
Steve, always appreciate your insights. Question. I am a scalper and have made a substantial amount this year with my larger account up around 500% through June. I’m not satisfied with my trading and believe in continuous improvement. My main concern is the amount of trades I take. Being a fear based trader, I don’t let them go against me so I end up with well over 100 tickets and finish green 4/5 days with profit. Sometimes I over trade but even if I don’t, I still have 50-100 trades with multiple adds/sells and attempts where I jump out. Would love to know what your guys on the desk that scalp are seeing as far as total tickets in a day. What is common? Thx Matt
I scalp future and i shoot 100 rounds a day as an average. These are not trades, they are core position management with adds/sells etc etc... scalping is all about this.
Steve, thanks for responding. So it sounds like I’m on par with some of your guys as far as the amount. Are commissions a concern for your team? My way of combatting them have been via taking large size and looking at them like the cost of the strategy and resulting profit.
Thanks for the helpful perspective . As a newbie trader I'm going to look more into set ups across futures contracts because you have a good point about accessing capital in the beginning. Equities can come a bit later. I like the idea of having a playbook too.
Futures are the hardest to trade but easiest to access capital for. My tip is to only trade when close to levels on the 60 minute charts. This improves your risk/reward and is a useful trade filter to prevent over trading.
Thank you Mr. Steve for the great video. I have been struggling myself with consistency. I am standing at 50% win rate now but i think this is simply because i am only taking three day trades a week as i am under the PDT rule. I was wondering if you can recommend a place online, a book or any media, where I can find some trader's playbook that i can use as a starting point in building my own playbook? Thanks again for the wonderful content from SMB.
a track record. this comes after developing a methodology that you can clearly define and communicate. I think if you Google this topic I'm sure we've written about it as well.
I got question so i trade good from 2/3 months finaly on profit.But last 2 weeks i make a draw down should i change strategy and adopt to market or stay with my old strategy?
I have the skill, but finding some platforms are playing games. Do you have a platform that new traders can login and prove they have the skills and then when proven you invest some capital? I trade ES DAX EUR USD
Having professional mentor you is also very important when it comes to trading, without proper mentorship, one tends to opt out of the market early enough. I do my investment on Mr Liam mark, walters platform. He's pretty good
usually a huge fan of Mr. Spencer...but the title is more ambitious than the narrow topic covered. Getting consistent as a trader is a very broad topic..this particular question addresses a very specific question...perhaps the title of the video needs to be changed
@@absoluttchamp Thanks for the help, and any tips on a specific percentage to increase share size by or is that by feel or what? I trade around 300-400 shares on stocks 2-10 dollars. Daily goal is around 100. I like shorting the backside of momentum moves typically.
It makes sense to learn setups & at the same time get exposure to different markets or area of equities in play. Creates more opportunities to see how it trades & a chance to apply it while finding what works.
Something I noticed when first started trading, cryptocurrencies in 2017, then a period followed where my consistency declined because that market shifted bearish & my strategies were not producing alpha & I was not able to trade short due to brokerage restrictions (however it did provide time experience/exposure).
Fast forward now being exposed to additional markets, many other setups/playbooks & the ability to trade both ways + different products, my consistency is improving (while maintaining proper risk management). It does take time to internalize, program, & develop the systems. I remember Shark & Swang saying something around 6 years & that’s building from the ground up + full time !
What you guys teach/coach in the courses & content here continue to help by a great margin and so many traders in the community. Thank you & much appreciation !
thanks for the insight! Seeking to understand what the market gives you (rotating sectors, catalysts, clear trends) as opposed to trying to predict(focusing on certain stocks, being a one trick pony) is a major game changer.
I think learning a particular setup or strategy is best. It's a matter of preference, what ever works best for that particular trader. For me the thing is, regardless of the equity, Price Patterns repeat themselves in all equities. So "Setup Patterns" apply to all equities. Of course it is possible to trade one basket of equities and be familiar with how these particular trade and understand they're fundamentals on a deeper level. But ultimately, for intraday traders, we are trading setups and patterns, which again, repeat themselves in all equities. Why limit ourselves to one particular stock. In these beginning stages I am in, I find that I trade mid caps better. $50-$100 stocks tends be my sweet spot. So I have been focusing more on stocks within this price range.
I started out with one stock and also kept an eye on the sector related to it. This was my one and only focus during the market open. Great lessons learned. When markets closed I worked on my playbook and picked the best opportunities from a larger pool.
Thank you Steve and SMB. Learned a lot and the line that really stayed with me is to paraphrase, 'create your playbook [ my question has been how exactly is the term playbook being used] and then,boom, your playbook will be the patterns i trade and the catalysts that create those patterns. Clarity! and then learning how to scale into it....Thank you. SMB is the goldstandard for educational trading videos for the trading community!
I tried trading one instrument for a month or two and damn it is tough. The lack of opportunities may lead you to make the dumbest of trades and spiral into a rabbit hole, for beginners mostly. It is much easier to trade stocks in play. There is opportunity every single day and you know exactly what you are looking for.
Great video Steve. For myself as a newer trader I have taken the time to get good at a few strategies but the breakout trade is my favorite A+ setup. What I like the most about it is that it is a pretty straight forward setup (thx to Ryan Trosts video on scalping) and if you know how to identify stocks in play, it is a setup that presents itself quite often even on low volume days like yesterday. I've been working really hard at this setup and it is really paying off at the moment and I am still working to develop my playbook further. Thanks for the video.
Wow perfect timing! I was just thinking about that question...😃
Great clip, tks.
Thank you Steven very helpful..! Answered a couple of questions I had . 😊
Thank you Steve
I think something to think about is how are you defining what are different product types. Is one strategy being used across multiple FX pairs considered trading across products? Or would you consider it to be the same as what SMB is doing?
Steve, always appreciate your insights. Question. I am a scalper and have made a substantial amount this year with my larger account up around 500% through June. I’m not satisfied with my trading and believe in continuous improvement. My main concern is the amount of trades I take. Being a fear based trader, I don’t let them go against me so I end up with well over 100 tickets and finish green 4/5 days with profit. Sometimes I over trade but even if I don’t, I still have 50-100 trades with multiple adds/sells and attempts where I jump out. Would love to know what your guys on the desk that scalp are seeing as far as total tickets in a day. What is common? Thx
Matt
you are doing it right, dont change anything, just trust in yourself more :)
I scalp future and i shoot 100 rounds a day as an average. These are not trades, they are core position management with adds/sells etc etc... scalping is all about this.
literally hundreds of trades per day. that is the definition of scalping. more activity with more volatility...
Steve, thanks for responding. So it sounds like I’m on par with some of your guys as far as the amount. Are commissions a concern for your team? My way of combatting them have been via taking large size and looking at them like the cost of the strategy and resulting profit.
M S what is your % cost of commission ?
Thanks for the helpful perspective . As a newbie trader I'm going to look more into set ups across futures contracts because you have a good point about accessing capital in the beginning. Equities can come a bit later. I like the idea of having a playbook too.
Futures are the hardest to trade but easiest to access capital for. My tip is to only trade when close to levels on the 60 minute charts. This improves your risk/reward and is a useful trade filter to prevent over trading.
Thanks you very helpful
No problem!
Thank you Mr. Steve for the great video.
I have been struggling myself with consistency. I am standing at 50% win rate now but i think this is simply because i am only taking three day trades a week as i am under the PDT rule. I was wondering if you can recommend a place online, a book or any media, where I can find some trader's playbook that i can use as a starting point in building my own playbook? Thanks again for the wonderful content from SMB.
As for the playbook, Steve's partner Mike Bellafiore has and excellent book on that topic, titled "The Playbook"
see Tom's comment below... 😀
Can also go around the PDT rule with a decent offshore broker like CMEG ...
After listening to this, the way my brain interpreted it was that you can either scale vertically or horizontally.
Any advice on how to get a backer?
a track record. this comes after developing a methodology that you can clearly define and communicate. I think if you Google this topic I'm sure we've written about it as well.
@@smbcap Excellent, thank you.
I got question so i trade good from 2/3 months finaly on profit.But last 2 weeks i make a draw down should i change strategy and adopt to market or stay with my old strategy?
Great video,
thanks. I thought it was ok...
Do you guys pay your developing traders a salary till as they learn how to make consistent profits ?
Yes. We pay a salary to developing traders...
Does SMB Really employee people Who trade from their homes with SMB capital?
Hell no bruh
most of our traders are remote right now. We have setup tech for our traders to trade remote
I have the skill, but finding some platforms are playing games. Do you have a platform that new traders can login and prove they have the skills and then when proven you invest some capital? I trade ES DAX EUR USD
FTMO, 5%ers
We do. Contact support at smbcap dot com
Having professional mentor you is also very important when it comes to trading, without proper mentorship, one tends to opt out of the market early enough. I do my investment on Mr Liam mark, walters platform. He's pretty good
Looks short answer is that both approaches are acceptable
Conclusion:in trading ANYTHING is possible!!
Nioce:)
usually a huge fan of Mr. Spencer...but the title is more ambitious than the narrow topic covered. Getting consistent as a trader is a very broad topic..this particular question addresses a very specific question...perhaps the title of the video needs to be changed
I'm starting to become consistently profitable and tips on scaling up?
Not that you asked me, but I will throw in a suggestion :) Re-balance your account for every +10R and half your size for every -5R until recovered.
@@absoluttchamp Thanks for the help, and any tips on a specific percentage to increase share size by or is that by feel or what? I trade around 300-400 shares on stocks 2-10 dollars. Daily goal is around 100. I like shorting the backside of momentum moves typically.
@@maxagatsu1181 Thanks I appreciate it.
Fluff