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Mike Bellafiore, author of One Good Trade and co-founder of SMB Capital and SMB U will be making a presentation on the principles of "One Good Trade" to the Options Tribe community
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One Good TradeThe 7 Fundamentals
Mike BellafioreAuthor of One Good TradeCo-Founder of SMB Capital
Co-Founder of SMBU
The 7 FundamentalsProper PreparationHard WorkPatienceA Detailed Trading PlanDisciplineCommunicationReplaying Your Important Trades
1. Proper Preparation
“Failing to prepare is preparing to fail.”
John Wooden
A Trader’s Day- The Open
Midday and the Close
After the Close
The Power of Professional Trading ToolsPreparation toolsScanning FiltersIdea generation
SMB Scanner
SMB AM Meeting
SMB Real-time
SMB Radar
2. Hard WorkWatching the Level II and Times &
SalesWatching price action at your levelsImportant intraday Prices?
3. PatienceIf your entry price is 30 then where
do you enter?An upside of 5 and a downside of 1Chasing is for dogsAffects your exit if you enter at a bad
priceHard to get big from a bad priceWin rate declines
4. A Detailed Trading Plan
For if the stock trades in your favorFor if the stock trades against you
My Favorite Teaching ExerciseTap a trader on the shoulderWhy are you in this trade?Where will you exit?I expect an immediate answerIf not then kicked off the trading
deskCome back when you plan on
being a pro
5. DisciplineWhat do you do if your stock trades
against you?What do you do if your stock hits your exit
price?What do you do if your stock hits your
criteria for exiting?
GET OUT!!!!!!!
SNDK – 11/21/2005Intel Teams With Micron For
NAND Flash ProductionSanDisk in this spaceSNDK down 16%
SNDK
SNDK
Who is not a Trader- The Blow ups
Jon Corzine MF Global John Meriwether Long-Term
CapitalThe London Whale 5B in lossesBuzz Weinstein other side of the-
now famous London Whale trade.
6. CommunicationSharing information with communityStockTwitsChat roomsInternet trading communitiesCreate your own trading communityI have traded solo…………………….
7. Replaying Your Important TradesSMB Playbook Trades that make the most sense to
youBuild from your strengthsGet bigger in the plays that make the
most sense to youFind more of themTrade them with more sizeThis is how you become great
The PlayBook
The PlayBookTitleStrategy DescriptionBig PictureIntraday FundamentalsLong-term Technical AnalysisShort-term Technical AnalysisReading The TapeTrade ManagementTrade ReviewTrade Idea
What Is Your Job As A Trader?
One Losing TradeIf you make a losing trade is that
One Bad Trade?
A Professional TraderA professional trader takes losses
all the timeControl their riskDo the right thingIf I make this trade 1000xs will it
work?@sspencer_smb, “A professional
trader takes many small losses.”
7 FundamentalsIf you have followed all 7Whether you make $ or notThen that is One Good TradeThat is your job!Sustaining, consistently
profitable trader
SMB MantraMake One Good Trade and then
One Good Trade and then One Good Trade
Coach K at Duke
Questions?
Feel Free To Contact Me
www.facebook.com/smbcap@MikeBellafiore
mbellafiore@smbcap.comwww.smbtraining.com/blog
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