212: Prop Firm Trading & Performing Like A Pro – @MikeBellafiore

Mike Bellafiore Interview

Prop Firm Trading & Performing Like A Pro

In episode 212 of the Desire To Trade Podcast, I sit down for a 2nd time with Mike Bellafiore, the co-founder of SMB Capital, a well-known proprietary trading firm based in New York, USA. Mike is also the author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading and The PlayBook: An Inside Look at How to Think Like a Professional Trader.

SMB Capital’s trader-training program was highlighted in the TV documentary Wall Street Warriors. His firm has appeared regularly on CNBC’s Fast Money, CNNMoney, Bloomberg, and Fox Business.

I first heard of Mike Bellafiore and SMB Capital through Mike's first book called One Good Trade. It describes how things are done in a proprietary trading firm and provides real stories of traders who had or hadn't what it took to thrive in this world of trading. I highly recommend the book!

Mike has a lot of experience working with traders and came to understand what made them successful. He also knows what the learning process looks like for a trader.

As some of you may know Mike and SMB Capital help sponsor Traders4ACause which is a charitable organization focused on value. They make a yearly conference in Las Vegas in which all proceeds are donated to a set of charities. If you want to assist to the next event, get great trading related value and networking and help a good cause you can check out the event, register and donate at: https://traders4acause.org

>> Watch the video interview!

In This Episode, You'll Learn…

  • Who is Mike Bellafiore and what has he and SMB done since the last interview [00:33]
  • How the whole ambient and culture of SMB encourages traders to continues improvement (concrete steps they take to improve every day) [06:05]
  • How SMB use technology to improve their discretionary trading [07:41]
  • How Mike and SMB are implementing algorithms and technology into a trading desk [10:44]
  • How to implement a hybrid approach to automated trading [16:24]
  • What does it take for someone to be hired by a prop firm like SMB [20:05]
    • What type of traders do Mike and SMB like to see in prospective traders [28:02]
    • Incredible level of investment into new talent at SMB: “We give everything we got to those people” [33:05]
    • Great traders may not always be “traditionally” talented [33:42]
  • The importance of measuring trading performance and process [36:14]
  • The biggest mistake Mike sees traders make [40:57]
  • Should a trader copy other trader's style or make their own? [43:42]
  • Where you can find Mike Bellafiore [45:58]
  • Which is Mike's vision for the future [46:45]
  • And much more!

What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!

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What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

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212: Prop Firm Trading & Performing Like A Pro – @MikeBellafiore