Prop Firm Trading & Performing Like A Pro

In episode 212 of the Desire To Trade Podcast, I sit down for a 2nd time with Mike Bellafiore, the co-founder of SMB Capital, a well-known proprietary trading firm based in New York, USA. Mike is also the author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading and The PlayBook: An Inside Look at How to Think Like a Professional Trader.

SMB Capital’s trader-training program was highlighted in the TV documentary Wall Street Warriors. His firm has appeared regularly on CNBC’s Fast Money, CNNMoney, Bloomberg, and Fox Business.

I first heard of Mike Bellafiore and SMB Capital through Mike's first book called One Good Trade. It describes how things are done in a proprietary trading firm and provides real stories of traders who had or hadn't what it took to thrive in this world of trading. I highly recommend the book!

Mike has a lot of experience working with traders and came to understand what made them successful. He also knows what the learning process looks like for a trader.

 

As some of you may know Mike and SMB Capital help sponsor Traders4ACause which is a charitable organization focused on value. They make a yearly conference in Las Vegas in which all proceeds are donated to a set of charities. If you want to assist to the next event, get great trading related value and networking and help a good cause you can check out the event, register and donate at: https://traders4acause.org/

 

>> Watch the video interview!

In This Episode, You'll Learn...

• Who is Mike Bellafiore and what has he and SMB done since the last interview 00:33
• How the whole ambient and culture of SMB encourages traders to continues improvement (concrete steps they take to improve every day) 06:05
• How SMB use technology to improve their discretionary trading 07:41
• How Mike and SMB are implementing algorithms and technology into a trading desk 10:44
• How to implement a hybrid approach to automated trading 16:24
• What does it take for someone to be hired by a prop firm like SMB 20:05
  • What type of traders do Mike and SMB like to see in prospective traders 28:02
  • Incredible level of investment into new talent at SMB: "We give everything we got to those people" 33:05
  • Great traders may not always be "traditionally" talented 33:42
• The importance of measuring trading performance and process 36:14
• The biggest mistake Mike sees traders make 40:57
• Should a trader copy other trader's style or make their own? 43:42
• Where you can find Mike Bellafiore 45:58
• Which is Mike's vision for the future 46:45
• And much more!

What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!

Resources Mentioned

• The PlayBook: An Inside Look at How to Think Like a Professional Trader
• One Good Trade: Inside the Highly Competitive World of Proprietary Trading
• Traders4ACause Anual Charity Conference 
• Past Interview: Trade With Market Edge & Stick To One Good Trade

DesireToTRADE's Top Resources

• DesireToTRADE Forex Trader Community (free group!)
• Complete Price Action Strategy Checklist
• One-Page Trading Plan (free template)
• Recommended broker: AxiTrader (use our link to get a special bonus)
• Desire To TRADE Academy

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How To Find Mike Bellafiore?

• E-mail
• Twitter
• SMB Capital Website 
• SMB Capital Youtube

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!