Mike Bellafiore is the co-founder of SMB Capital and SMB University, well known for its trader education. He also wrote two very popular trading books ‘One Good Trade’ and ‘The Playbook’.
Mike also contributes regularly to Yahoo Finance, CNN Money, Bloomberg, CNBC’s Fast Money, and Fox Business. With his busy schedule, Mike still manages to be an active trader.
Mike provides great insight about traders often confusing a lack of an edge with mindset, and some of his favorite setups which he calls ‘The Money Trade’. He also dives into his new program at SMB Capital, and a few pointers for how traders can achieve a sustainable trading style.
What’s Covered in This Interview:
- What the difference is between coaching, education and mentoring, and why each are important. Mike provides an example to help listeners clarify.
- Why traders need a trading edge, even though it’s really hard to find one and is integral to avoid psychological issues traders can experience.
- Why Mike wanted to start a proprietary trading firm, what challenges he faced and how he had no clue what he was actually getting into.
- What traits will show you whether you’ll become a trader or not.
- What process and training programs traders have to do when entering Mike’s firm and how long before they can expect to be profitable.
- What one of Mike’s favorite setups, The Money Trade is like, and why he thinks this setup is fundamentally sound.
- What Mike thinks is the key to a sustainable trading style, loving your trades, knowing the variables, and why you need to scale.
Links and Resources:
- One Good Trade – Is the first book authored by Mike’s first book that includes stories of traders who have been successful, or not so successful.
- The Playbook – Mike’s second book about how traders can spot their best trades and learn from them to become even better.
- SMBu.com – Learn more the types of education SMB provides.
- SMBcap.com – Learn more about Mike’s trading firm.
- @MikeBellafiore – Follow Mike on Twitter.
