💡 : The goal is to make holistic decisions by weighing these indicators differently based on the specific trade and market conditions.
A setup should include specific technical, fundamental, and market context indicators.
In proprietary trading, a "Playbook" is an archive of trades that make sense to you. It is a structured journal of setups where you have a proven statistical edge. Bellafiore argues that elite traders do not trade randomly. Instead, they wait for specific, recurring market patterns that fit their personality and risk tolerance. the playbook pdf mike bellafiore link
What do you use for journaling? (e.g., Excel, Notion, specialized trade logs) Share public link
What is your right now? (Finding setups, managing risk, cutting losses?) 💡 : The goal is to make holistic
Use Notion, Microsoft OneNote, or even a dedicated Google Doc.
Fill out the 5 pillars for that specific setup using the framework above. It is a structured journal of setups where
In the world of proprietary trading, few books hold as much reverence as The Playbook: An Inside Look at How to Think Like a Professional Trader by Mike Bellafiore. As the co-founder of SMB Capital, a premier proprietary trading firm in New York City, Bellafiore has spent decades training consistently profitable traders.
Sometimes, the official SMB Capital website offers resources or direct links to purchase their educational materials.
It loses half a star only because the writing can be repetitive at times, but perhaps that repetition is necessary to drill the discipline into the reader's mind.