One Good Trade

Inside the Highly Competitive World of Proprietary Trading

Mike Bellafiore

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Hardback

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English

Wiley
09 July 2010

Economics & Business; Banking; Investment & securities

Series: Wiley Trading

An inside look at what it really takes to become a better trader

A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets. The world of prop trading is mentally and emotionally challenging, but offers substantial rewards to the select few who can master this craft called trading.

In One Good Trade: Inside the Highly Competitive World of Proprietary Trading, author Mike Bellafiore shares the principles and techniques that have enabled him to navigate the most challenging of markets over the past twelve years. He explains how he has imparted those techniques to an elite desk of traders at the proprietary trading firm he co-founded. In doing so, he lifts the veil on the inner workings of his firm, shedding light on the challenges of prop trading and insight on why traders succeed or fail.

An important contribution to trading literature, the book will help all traders by:

Emphasizing the development of skills that are critical to success, such as the fundamentals of One Good Trade, Reading the Tape, and finding Stocks In Play Outlining the factors that really make the difference between a consistently profitable trader and one who underperforms Sharing entertaining, hysterical, and page turning stories of traders who have excelled or failed and why, many trained by the author, with an essential trading principle wrapped inside

Becoming a better trader takes discipline, skill development, and statistically profitable trading strategies, and this book will show you how to develop all three.

By: Mike Bellafiore
Imprint: Wiley
Country of Publication: United States
Dimensions: Height: 226mm, Width: 155mm, Spine: 33mm
Weight: 567g
ISBN: 9780470529409
ISBN 10: 0470529407
Series: Wiley Trading
Pages: 368
Publication Date: 09 July 2010
Audience: Professional and scholarly , Undergraduate
Format: Hardback
Publisher's Status: Active

Preface vii Acknowledgments xi Part I Inside a Prop Trading Firm 1 Chapter 1 These Guys Are Good 3 Chapter 2 One Good Trade 31 Chapter 3 A Good Fit 53 Part II Tools of Success 83 Chapter 4 Pyramid of Success 85 Chapter 5 Why Traders Fail 117 Chapter 6 Live to Play Another Day 141 Part III Getting Technical 163 Chapter 7 Stocks In Play 165 Chapter 8 Reading the Tape 193 Chapter 9 Maximizing Your Profits with Scoring 223 Part IV The Trader’s Brain 249 Chapter 10 Trader Education 251 Chapter 11 The Best Teacher 285 Chapter 12 Adapt to the Markets 305 Chapter 13 The Successful Trader 335 Bibliography 339 About the Author 347 Index 349

MIKE BELLAFIORE is a cofounder of SMB Capital, a proprietary trading firm in New York City. He has had numerous trading articles published in SFO Magazine. SMB regularly appears on CNBC and TheStreet.com. SMB also hosts four trading shows a week on StockTwits TV, the first Web-native finance television network. Bellafiore's trading strategies have been featured in Brett Steenbarger's book, The Daily Trading Coach, and his trader training program was recently highlighted in Trader Monthly and on the TV documentary Wall Street Warriors. Bellafiore is a regular contributor to the SMB blog, which provides market stories and trading advice. He was a speaker at the 2009 Traders Expo in New York. Bellafiore is a graduate of the University of Connecticut School of Law and a former member of the University of Connecticut Board of Trustees.