One Good Trade: Inside the Highly Competitive World of Proprietary Trading: 454 (Wiley Trading) - Hardcover

Bellafiore, Mike

Hardcover

ISBN 10: 0470529407 ISBN 13: 9780470529409

Verlag: John Wiley & Sons Inc, 2010

Inhaltsangabe

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.

Über diesen Titel

Über die Autorin bzw. den Autor

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.

Von der hinteren Coverseite

Proprietary trading firms do somewhere between 50 and 70 percent of all the equity volume in the U.S. markets on any given day. But unlike most firms on the Street, proprietary firms have no clients. They do not take other people’s money and speculate it on their behalf. Proprietary trading (or ‘prop trading’ for short) is done for the benefit of the company’s partners and employees only: the firm is the client. Their profits are generated solely from the bets they make on their traders. If they are wrong, they lose their own money. When they are right, they keep a percentage of their winnings. The world of prop trading is mentally and emotionally exhausting, but the rewards can be substantial, if you understand how to identify good trades, take profits at the right time, and limit losses.

In One Good Trade, Mike Bellafiore reveals the inner workings of the proprietary trading firm he cofounded, detailing the challenges of prop trading and explaining why traders succeed or fail. In the process, he shows how you can use the skills and strategies developed at his firm to improve your own trading success.

The author takes you inside the world of prop trading to show how the professionals trade successfully, sharing all the important market lessons he has learned over the course of his career while introducing a fascinating cast of characters, some of whom have succeeded, and too many who have failed. He offers a range of straightforward trading strategies, such as breakouts from congestion, trading off support and resistance, and identifying consolidation setups. Perhaps more importantly, he explains the importance of other, often overlooked skills critical to successful trading: developing consistency in monitoring markets and uncovering trading opportunities, discipline in executing trades, making rational risk/ reward bets, and managing trading capital. He reveals those skills through illustrative stories of the growth of his trading firm and the ups and downs of traders he has trained.

Becoming a better trader requires discipline, a thick playbook of trading setups, and well-rounded trading skills, and One Good Trade will show you how to develop all three.

Aus dem Klappentext

Proprietary trading firms do somewhere between 50 and 70 percent ofall the equity volume in the U.S. markets on any given day. Butunlike most firms on the Street, proprietary firms have no clients.They do not take other people's money and speculate it on theirbehalf. Proprietary trading (or 'prop trading' for short) is donefor the benefit of the company's partners and employees only: thefirm is the client. Their profits are generated solely from thebets they make on their traders. If they are wrong, they lose theirown money. When they are right, they keep a percentage of theirwinnings. The world of prop trading is mentally and emotionallyexhausting, but the rewards can be substantial, if you understandhow to identify good trades, take profits at the right time, andlimit losses.

In One Good Trade, Mike Bellafiore reveals the innerworkings of the proprietary trading firm he cofounded, detailingthe challenges of prop trading and explaining why traders succeedor fail. In the process, he shows how you can use the skills andstrategies developed at his firm to improve your own tradingsuccess.

The author takes you inside the world of prop trading to showhow the professionals trade successfully, sharing all the importantmarket lessons he has learned over the course of his career whileintroducing a fascinating cast of characters, some of whom havesucceeded, and too many who have failed. He offers a range ofstraightforward trading strategies, such as breakouts fromcongestion, trading off support and resistance, and identifyingconsolidation setups. Perhaps more importantly, he explains theimportance of other, often overlooked skills critical to successfultrading: developing consistency in monitoring markets anduncovering trading opportunities, discipline in executing trades,making rational risk/reward bets, and managing trading capital. Hereveals those skills through illustrative stories of the growth ofhis trading firm and the ups and downs of traders he hastrained.

Becoming a better trader requires discipline, a thick playbookof trading setups , and well-rounded trading skills, and OneGood Trade will show you how to develop all three.

Details zur Ausgabe

• Verlag: John Wiley & Sons Inc
• Erscheinungsdatum: 2010
• ISBN 10: 0470529407
• ISBN 13: 9780470529409
• Einband: Tapa dura
• Sprache: Englisch
• Anzahl der Seiten: 368
• Kontakt zum Hersteller: Nicht verfügbar