Short Stops - #27: The One Where We Went to New York (Dr. Brett Steenbarger & Mike Bellafiore)

Published: Nov. 1, 2018, 10:57 a.m.

Hosted by Edmund Lee, President & CEO of the Caylum Trading Institute, Short Stops is your weekly stock market update featuring the top trading news, tips and stock picks in Metro Manila and around the world. "The traders who are uncoachable are the ones who refuse to seek a coach out to begin with." - Dr. Brett Steenbarger (https://traderfeed.blogspot.com/) This one is for our guys. Our junior and senior traders. Our team leaders and trainers. The ones who walk into the office every morning with the determination to make money but with an even greater desire to continue learning, adapting and growing with this market. Mike said it best - you need to love what you do but more importantly, you have to want to get better and better at it every single day. It's a performance sport. You are, in so many ways, an athlete. You have to work hard, show up and strive to be the best. "Even successful traders need to keep learning and we need to give them that space to grow. Whether you're making one million dollars or three million dollars a year, it shouldn't stop there." - Mike Bellafiore, co-founder of SMB Capital (http://smbcap.com/) In this episode of Short Stops, our Director of Marketing & Operations, Eleanore Lee-Teo, flies out to New York City after being granted an exclusive interview with clinical psychologist & performance coach, Dr. Brett Steenbarger, as well as the Mike Bellafiore, co-founder of SMB Capital, one of the leading proprietary trading desks in the city. With a focus on developing elite traders in the industry, these are only a few of the insights shared by these trading greats: - The value of having a Purpose - Why training is important - how to increase your odds of success and what can you can do to maximize that - "You have to trade like I do." - One of the worst messages that a coach can relay to their team - "The best traders focus on the process and not just their P&L. The best traders are never satisfied. They want to get better and better everyday." - Develop a Playbook - Find your Best Setups - Statistics Don't Lie - Why reviewing and recording the trades that you make is essential - Adaptability and Consistency. Adaptability and Consistency. We cannot stress this enough. - The Stages of Trader Development (Learning, Consistency, Sizing, Expanding your Playbook and Sophistication) There is so much more wisdom to be gained. If you would like to learn more, their books will be highly recommended tools to place in your arsenal. Dr. Brett Steenbarger is the author of The Daily Trading Coach, The Psychology of Trading, Enhancing Trader Performance and Trading Psychology 2.0. Mike Bellafiore is the author of One Good Trade and The Playbook. They have also been featured on multiple podcasts and media spots such Bloomberg, CNN Money and BBC. Get your next trading insight and find your baggers right here on Short Stops. Powered by the Caylum Trading Institute. www.cayluminstitute.com -- Record Date: NOVEMBER 1, 2018 Introduction Music: (credits to)Vodovoz Music Productions on YouTube