SERIES 56 LICENSE

Its been a while… a long while since I posted something. This is just a quick update for whats been happening since last time I posted anything… I have been studying my ass off on charts and stocks, also received my Series 56 License in July. For anyone who is taking the exam, feel free to reach out to me if you need any insight.. I also created flash cards to help me study. You can access them by clicking HERE. 

The flashcards are just a study guide,you will need to study the manual and practice exams to! Good Luck!

Also will be posting more trades soon on YouTube,, slow working progress but we getting there!

 

 

BOOK REVIEW: “ONE GOOD TRADE: INSIDE THE HIGHLY COMPETITIVE WORLD OF PROPRIETARY TRADING” BY: Mike Bellafiore

I picked up this book because I wanted to know all I could about working for a proprietary trading company. Back in May I was trading for a prop firm and I wanted to know what its like to work for one and what to expect. I bought this book off audible and it took me about a month to finish. The audible version is 15 hours and 8 minutes long.

The book was more geared toward SMB Capital, the prop firm the Author co-founded in New York City. The book is entertaining to read and it gives a lot of good insight about specific traders that used to work at SMB. Mike Bellafiore the Author and the co-founder of SMB Capital gave a general overview about what it takes to trade and work at a prop firm. He talks about how to be a good trader, what skills you need, type of personality, and work ethic to be successful trader. I would definitely say that Mike has seen a lot of people come and go and the ones that stick around have the right motivation and desire to progress as a trader. Mike talks about a lot of the traders that he managed and the ones that went on to be extremely successful and the ones that did not last.

I would recommend this book to anyone who wants to get a insight on proprietary trading and what it’s like to work for a prop firm such as SMB Capital. If you are looking for more educational material or a strategy book where you can apply the information right away then this book is not for you. This book is going to give you a general overview of prop trading, personally I think its a good book and if you are new to trading then I would recommend this book so that you can get a overview of a day in the life of a trader.

Audio Book Review- “Trading in the Zone” By Mark Douglas

 

 

I just finished a audio book by Mark Douglas called “Trading in the Zone”. I signed up with Audible through Amazon, which gives you a wide selection in many different categories. Audible is $7.95 a month, I think its well worth it if you read a lot or in this case listen!

I went with a audio book because I like to listen while I drive to and back from work…. and sometimes during work, or while sitting on the couch, riding shotgun or at lunch… you get the point. Its very convenient since you can download it on your iPhone and you can listen anytime you  have a free moment. Trading in the Zone was 8 hours and 7 minutes long and it took me about three weeks to finish.

This book is not about trading strategies and its not going to teach you how to trade. This book is about the psychological aspect of a trader. It will give you insight on how a trader needs to think and understand the psychology of the market to be successful trader. The beginning chapters were kind of slow but it picked up towards the middle and end. There is some great information and analogies to help you understand how a trader thinks. Since trading is very challenging mentally this book will help you understand on how to develop a strong mind and the way you need to think as a individual trader and market as a whole. I would recommend this book just so you can get more knowledge of the psychology aspect of trading. Its a easy read and should be part of your arsenal.

BOOK REVIEW “Learn How Professionals Trade the Penny Stock Market: A step-by-step method on how to successfully trade the exciting penny stock market”

On my journey learning to trade you defintlely have to educate youself and continuously read good material. There is so much information out there sometimes you dont know what to read. As for me, I picked up this book off Amazon called “Learn How Professionals Trade the Penny Stock Market: A step-by-step method on how to sucessfully trade the exciting penny stock market.” By Thomas McCloughan

Yea, thats a long-ass title!

Unfortunaltey had I known this book was 64 pages of just chart patterns and a brief comment of how to make a watch list I would have never bought it. I was looking for a more in-depth book on how to scan penny stocks and how to find ones that are going to be in play. This book is very basic and I read it in a hour. I would not reccomend this book if you are looking to learn how to trade penny stocks nor if you want to learn how to find stocks that are in play. This book should be given out free instead!

I recently bought “How to Make Money in Stocks” By William O’Neil. So far really good with a lot of good info. I will put up a review once I finish with it.