Thursday, October 29, 2009

My Visit to SMB Capital

It was excellent visiting the traders at SMB Capital and their new offices a hop, skip, and jump away from Wall Street.

Here's what I observed first hand:

* A structured training program with a well organized curriculum that teaches specific setups and trading methods;

* Dedicated teaching and mentorship; not just learning from the seat of the pants;

* Morning meetings to prepare for the trading day in which multiple traders participate with ideas;

* A coherent philosophy of trading that focuses on tape reading skills among stocks that are moving and offering opportunity;

* A thoughtful strategy for managing risk and maximizing reward.

It may not be the type of trading that is for everyone, but it was nice to visit a firm that has integrated training and trading in a positive learning environment.
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2 comments:

lborges said...

Hi Dr. Steenbarger.

I saw your presentation at SMB and I enjoyed very much. I had a question: When I played competitive beach soccer my coach always created a level of intensity trying to inspire us. I always played better at a high level of stress especially at important games. So, now as a beginner trader is there a way to channel your stress to a positive reinforcement? What would be the pros and cons of using it?

Once again thank you very much for the presentation and for reading my questions! Leo Borges

S Benard said...

Dr. Brett, how do you find the time to write so much? I have a blog, and post to it about 4-5 times each day. They are mostly charts with a few scribbled comments.

Your postings contain much more writing than mine. I don't know how you find the time to write -- and still trade.

My hat's off to you!