Inside the Highly Competitive World of Proprietary Trading (Wiley Trading)

Inside the Highly Competitive World of Proprietary Trading (Wiley Trading)

DESCRIPTION

One Good Trade is an authoritative primer that focuses on aspects and skills necessary to become the best trader. Going deeper, a proprietary trading company is comprised of seasoned trading professionals who endeavor in capital trading. Their main objective is to consistently gain exponential profits out of markets since their means of living and income came mainly from this kind of venture. The overall proprietary trading is mentally taxing and emotionally daunting. However, if one master the complexities of this venture, financial satisfaction is guaranteed, and the return is always rewarding.

Through the author’s personal insights and narrative, he shared in this book, his methodologies, principles, and strategies that helped him ace the tight and competitive conditions of the trading landscape for a decade. He also shared how he transferred these skills to other high-tier professional traders at the trading company he co-established. Through this, he unraveled the internal systems and processes of the firm, putting deep emphasis on the challenges of proprietary trading, keys to success, and the persisting loopholes that traders usually do, which oftentimes result to failure.

This book made laudable and substantial contributions to trading praxis including:

  • Development of skills crucial to success such as the basics of a good trade, how to read the markets, and identifying the most viable stock
  • A clear comparison of a good trader from the bad one
  • Humorous, intelligent, and moving experiences of traders who succeed or failed accompanied by their very own trading principles 

ABOUT THE AUTHOR

Mike Bellafiore is a founding associate of SMB Capital, a prop trading company situated in New York City. The company has its annex firm called SMBU, established mainly to provide trading education. He is the author of two best-selling books titled One Good Trade and The PlayBook. He is a regular writer for the globally acclaimed site, SMBU, as he utilized the platform to provide professional advice on how to improve one’s trading activity.

TABLE OF CONTENTS

Preface

PART I- Inside a Prop Trading Firm

  1. These Guys are Good
  2. One Good Trade
  3. A Good Fit

PART II- Tools of Success

  1. Pyramid of Success
  2. Why Traders Fail
  3. Live to Play Another Day

PART III- Getting Technical

  1. Stocks in Play
  2. Reading the Tape
  3. Maximizing Your Profits with Scoring

PART IV- The Trader’s Brain

  1. Trader Education
  2. The Best Teacher
  3. Adapt to the Markets
  4. The Successful Trader

Bibliography

About the Author

Index