[Formula] Become a 7-Figure Day Trader · Mike Bellafiore

EP 162: The formula for how to become a 7-figure day trader w/ Mike Bellafiore
Returning for this episode, is Mike Bellafiore-the co-founder of New York City prop trading firm, SMB Capital. Mike is also the author of One Good Trade and The Playbook, and he was the featured guest on Episode 022: • Become a better trader...
As the title suggests, the purpose of our conversation is to breakdown how you can formulate a plan for becoming a 7-figure day trader. Mike is well-qualified to speak on this subject, because he’s mentored and lead traders within his own firm to reach this level of trading success.
There are no quick fixes packed into this episode, but there is real value-if you listen carefully, take notes and intentionally act on some of Mike’s suggestions, I know it will make a difference over time.

[@ChatWithTradersPodcast]

Full show notes for this episode available here: chatwithtraders.com/162

[@aaronsmyth7943]

Aaron, you have heard just about all there is to hear about trading. So what do you think? Lets have a video of your most important, actionable lessons!

[@sevaactivated8184]

I second this.

[@lrodger2486]

Hi you mention an Austrailan hedge fund manager .....Austin. He uploads a report card do you have has twitter handle please ?

[@sylviamoraa8461]

L Rodger @austinmitchyblu

[@Atulbasera]

@@lrodger2486 not sure if you already found it or not.. but still here it is twitter.com/austinmitchyblu?lang=en

[@Momotrader13]

I can't say enough about this podcast. Thank you Aaron you've been a true asset to the traders community.

[@ssic_network]

Yea this was particularly insightful!!! It’s amazing that this is free lol 😂

[@Momotrader13]

@@ssic_network Right?!😄

[@villyv444]

If your obsessed with trading....this channel will be addictive

[@wcomalley]

1.25x speed for this one fellas

[@iknow427]

Loool, you might have just mvp'd

[@enterradade3]

U Genius!

[@marcduchamp5512]

Connor O'Malley I always do 1.5 x

[@Dahmer_Jeff]

If you dont have patience then trading is not for you.

[@chefdeputas]

2x if you hate pussies

[@algotrade619]

Thanks Aaron.... You are helping novice trades to meet the excellent ones.. Love your work

[@gregbrown5554]

Thank you very much Mike Bellafiore. Much continued success throughout.

[@frankiii4587]

This is one I will be watching once per month. Thanks, Gents.

[@shayneduncan6600]

Notice he keeps referring to Dr Steenberger, the psychologist! What does that tell you about how important the mental side of trading is?

[@Charles-if4ty]

I'm working my way through the entire CWT Podcast, beginning with episode 1. Just got through ep. 22 with M.Bellafiore and that was by far my favorite podcast thus far (only 25 in). Look forward to hearing this one when I get to it.

[@rebornkingofthule7067]

Get even not mad What happens Your trading the AmEx that has people trading market making trading the bid spread? Say it's a really really trashy company like bottom of the barrel. So half of your synthetic shares are floating around maybe in Brazil and you couldn't cover together if you had to?? How far do you think you could push the price up before a bank put their foot down or even notice?? $PLX 💰💰💰💰

[@NecotheFreeko14]

What an Absolutely amazing episode. Thank you so much for putting this together. This is one of those episodes that you listen to like once a month to make sure you’re towing the line.

[@pablodee9024]

Best talk. I keep coming back to this. Thanks Aaron for your hard work, all that goes into Chat with Traders.

[@BeginnerTrading]

I definitely related to this video. I literally felt like he was talking to me about the 3 stages of trading, def relate to the consistency and sizing aspects of this video. So I stream every morning and let people watch me trade, usually have about 130 people there every morning. I gave this video and channel a shoutout. Really love the podcast man. Keep up the good work!

[@Jrod4x]

Hey man would you be interested in doing a collab?

[@vincewilkes]

Just came across your podcasts yesterday. Really enjoying these. And the Rambo episode was fantastic.

[@ptmr]

Finnally I have found some mature trading talk. Thanks! Best regards from Brazil!

[@allsearpw3829]

have a look at compass fx trade with RAY

[@omarroache1367]

This interview help me a lot as a trader... thank u chat with traders

[@entrepello9394]

Excellent interview, plenty of actionable knowledge. It's easy to tell how you really dig to get great full answers for the listeners, thanks a lot!

[@Jrod4x]

Hey! I'm looking to share my trading plan with a few people and get some feedback. Check it out and let me know what you think: www.jrod4xtradingplan.com

[@alphadog77]

Great interview. So full of great info and confirmations that can help day traders know if they are on the right path.

[@michaeldiffey3791]

Definitely appreciate sharing how you train your guys. It helps me see where I am at as a trader.

[@jacksmithofficial5587]

Great interview, very insightful. Thank you Aaron & Mike! 👏👏

[@Githinji_the1]

This video is the best trading content I've come across.

[@juanortiz7461]

Great value on the book strategy, I’m definitely going to implement it in my daily routine, thanks for making this posible 👍

[@MKI4EVA]

awesome podcast. 6 pages of notes....thanks so much.

[@gregbaxendale799]

Great interview (again) Aaron! I use this interview, as well as others, as my daily nutrition for trading emotions. Thanks so much!

[@nabilzuhaily623]

Kmij u

[@bmwardo]

Fantastic interview guys, I'm sure I'll listen to this a couple of times!

[@leandrosales8154]

Great content and very pertinent questions. Thank you!!

[@lrodger2486]

This was a great interview...thanks ....

[@mahletmendesil1020]

Thanks MIKE. Great podcast

[@Gunefy]

Thank you man. I can tell you in Mongolia, where we don't have a couch or mentor. Simply u are the my mentor thank you again

[@aprofromuk]

great stuff bro, hope u make it big, i think the book mind over markets is a requisite read if u havent read it already :)

[@aliramiloglualiyev6181]

Great interview! Thank you for your effort!!!

[@frg2583]

it's good to have you back mate.

[@indresh_rao]

This is one of the best channels for traders to improve themselves and learn something new. Good job 👍

[@chilatelover]

Mindset of growth. Let the learning begin!

[@u_cuban]

Absolutely golden interview!

[@neils8443]

Very practical and insightful advice!

[@paragawaken]

One of the best episode

[@TunaDumpling]

This episode is fantastic!

[@kylegreear11_22]

This was a really good episode

[@Sebastian-qx3fu]

Madness interview...so many thanks Dude

[@LiveFor_TheLord]

Love these interviews learned a lot Thankyou

[@retrospect3-2-15]

Loved this, lots of golden nuggets

[@majedalmatrooshi857]

Great talk thank you Aaron for these unique discussing channel

[@MrDre6000]

This was a great interview. Would listen to it a second time at 0.75x speed to make sure I wouldn’t miss any of the important info that’s being given out for free!!!

[@abhishekchandra5927]

Thank you For this knowledge

[@KT-zx9jr]

Great clip n informative. Thanks Mike. Kirby

[@NopeNope78]

One of the best FOREX videos on all youtube. Seriously, this interview was just great. Will listen to it a second time. Oftentimes, we hear the same things: money and risk management, patience, discipline. Mike really gave other aspects to consider. Thanks for the content

[@NopeNope78]

@SuperTrader Mikey right. I meant trading

[@avinmishra7814]

Great work Aaron

[@seancochran808]

Outstanding

[@dotbasing]

Great inputs. Perhaps better to use 3Ss: Steadiness --> Sizing --> Scope -> Sophistication

[@liviohuber4326]

A really nice video Aaron, been a successful day trader is not an easy task. When you are a day trader so many things can go wrong on your trades if you re not well discipline and lack a good trade approach and strategy, as a beginner with few months of experience I was opportune to work with pro day traders which has been quite an amazing experience and this has helped me grow so much in the market.

[@lorienwhite1087]

Am also not finding day trading easy, I just thought it's all luck and gamble.

[@michealvaughan8089]

It a great interview, I enjoyed the chat and it would do a lot for my confidence.

[@aaravshivansh212]

It has not been an easy journey for me, handling losses is the part of day trading nobody prepares you for and the panic when you try to regain winning position. This been some of my challenges and I hope to step it up if you can help me @Livio Huber.

[@liviohuber4326]

@@aaravshivansh212 I was able to grow on my trades thanks to the professional help of "expertjoefx" on telegram, I followed his trade instructions and it helped me earn a lot in the market. You can send him your thoughts and he would assist you.

[@aaravshivansh212]

@@liviohuber4326 thanks I just sent him a text now awaiting reply 👍

[@Atulbasera]

Another AWESOME episode Aaron. Thanks a lot we as a trader really appreciate what you been doing.. I read a lot of comments and see people are missing the whole point of these episodes. they are picking on small things rather absorbing the real knowledge. you keep going what you been doing and we keep learning. Thanks a lot once again.. good work..

[@maxhong3273]

I LOVE TRADING

[@josephharley9448]

Life changing interview

[@tedclement4668]

Thank you for this content

[@borntodoit8744]

Growth Mindset = Need to constantly learn. Daily Report card (focus on Monthly problem with daily updates for feeback, coaching and feedback) see 30:07 see 32:05 .Playbook at

[@goodoboyde]

great interview

[@misstinytrader88]

So glad I found this channel! I fell in love with trading after a talk with a friend/mentor. I understand a lot but have so much more to learn. I have been paper trading since October '17. I have had some luck, but I am making sure to have the stages completed with solid consistency before going live even though I have a trading account ($150) set up. I cannot afford to blow it up quick. I'm still figuring out what type of trader I am. My goal is to make enough money during a month to leave my dishwashing job, help my, family, and friends within the next year or so. :)

[@Jrod4x]

Hey! I'm looking to share my trading plan with a few people and get some feedback. Check it out and let me know what you think: www.jrod4xtradingplan.com

[@tooeazeful]

Tiny Trader88 make money to be financially free nothing else. The rest you can do once your ok.

[@bigpapachip2]

How did it go?

[@miltonfeeblemeister5085]

How are you doing? Did you determine what type of trader you are? Were you able to advance?

[@misstinytrader88]

@@miltonfeeblemeister5085 I did! I'm a scalper all the way. I'm getting better slowly but surely, and am starting to learn options also. Thank you so much for asking!

[@brianramirez8255]

Bloody brilliant

[@pyroplus]

Extremely helpful

[@viet_redpill]

Awesome video!

[@surething119]

This man knows what he is doing

[@kylemadden842]

again good questions!

[@TheTradingDesk007]

valuble info shared thankyou

[@hamisintunzwenimana8083]

Great General 1. Learing Process: CSBS 2. Tharp Think / Community

[@Freddyyyy266]

Diversification is ignorance insurance” . Guess what, I was ignorant when it came to investing and trading (almost ruined my portfolio). I appreciate all you have helped me achieve Payden.

[@Freddyyyy266]

At least I found a way thanks to Him. I’m writing this with in-depth gratitude and he’s still providing top notch services for individuals with just 25% commission (great right? I can tell). You can talk to him for further information ... *Alecpayden (a) g ma il. Com...*

[@carterjwillow3079]

Ignorance is not something to be proud of ....also it’s not a disability

[@liuzhejiang107]

I’ve made quite a substantial amount from my investments under Payden at a price, I wish I could trade on my own without paying these commissions.

[@hansyasini9411]

It’s nothing to be ashamed of. Even business research requires a team and rarely does every member of the team draw the same conclusion. That in itself is diversification

[@joycelistings6879]

Nowadays I don't really bother with recommendations unless it’s trusted. Thank you for this.

[@arielleHT]

This stuff is fucking GOLD, I just listen over and over, It actually help my trading a lot !!

[@misstinytrader88]

Trading the whole market is equal to being crossed trained in a job. It makes a person more valuable. I want to learn how to trade the spy, tvix and such because it so cool how they work together.

[@vladlenvronsky8414]

5 years old, still gems.

[@MarioLopez-wl8si]

Hello Mike, thank you for the videos. I am a day trader and I am using Streetsmart edge from Schwab. I am not too happy with them. Who do you recommend as a brokerage and as a trading platform?

[@toufeeqahmed4306]

Excellent

[@PolynesianVibez]

Wow thank you for this! 🙏

[@rebornkingofthule7067]

One good trade 💥💥💥🤯

[@alexshulte4671]

Hello Aaron , i was watching all the interview so far, good job, thumbs up. But i have a question, can you ask your guests what will be the right amount to start with, 20k 50k 100k 200k, to have enough power and confidence to trade. “and i am not talking about: “ you can start as low as 100 $ account and still trading,advertising shit”

[@whydotheathensrage]

thanks, very useful,

[@thetruth4654]

I have never traded in my life and have no experience, but i do want to try it i do believe that this issomething that i can actually become very good at.

[@rohan852]

Illusion

[@babblingidiot7903]

I don't know about others feel but this was basic human instinct "common sense" podcast. Didn't really get much out of it. However, I still appreciate the guest and your work. Thanks.

[@mayureshbhoskar1]

V.nice..,, report card of mindset

[@edwardkowalski8125]

I’m trading using a Commodore 64 is that appropriate equipment for HFT ?

[@20MDM]

very educational

[@Ben-ii5oy]

Actually searched for your channel. I'm a subsciber, love your work. However you never show up in my recommended list anymore.

[@therepulsiveman4919]

Really great podcast

[@EyeAmSoul]

@32:00 min. talks about the 'daily report card' and say's hands down it was the best thing for 2017.

[@joedavis3143]

Originally, I avoid the episode with Mike because I had watched his channel and he is just mean and annoying, plus they seemed to push their agenda, plus their strategies gave just enough information to be dangerous and ineffective. BUT this episode showed a better side on Mike. I missed the part about becoming a 7 figure day trader (I was working while listening) but he's much more humble and had a few good lines. His best comments were at the end where he praised Aaron for his show. That is spot on. This is the best show out there. Others have tried to emulate it but Aaron is a perfect interviewer, more professional then people I see on news channels on TV. Great program.

[@woutermakkinje4777]

Hey, I'm new to trading and I wanted to know if anyone know what the "machine" traderview is that Mike is talking about at ~7:30?

[@jay174lyfe]

Wouter Makkinje tradervue.com

[@RedCandles_]

Starts @ 3:50

[@nayanmipun6784]

I am joining the SMB training soon

[@nayanmipun6784]

Not yet

[@evildorian00666]

kingjoker here i love this

[@josouk5950]

As with all these videos, it's about 'reading between the lines' - these traders never reveal what they really do, but instead they use enigmatic language for you to decipher

[@michaelthomas1614]

No. You are just not capeable of understanding what they are saying and how to implement it.

[@owenwalker1774]

Not all of them. Some are super specific, some are broader. It depends on the trader.

[@amiami5727]

32:00 The DRC 35:50

[@walkerpercy8702]

Great episode. I can't imagine, though, being a 7 figure trader and having to give a daily report card to my boss.

[@scottydog9997]

Its a system for self-improvement. Also, working for someone else gives you leverage and trading tools you otherwise wouldn't have access to. Even if you can build them yourself. Its much better working for an organisation that wants to see you improve, than doing it solo with 0 support.

[@soupeducrayon]

Great interview. Please interview more Fx traders!

[@jackwilson2756]

Trading with Mr Mathew and his strategies is awesome, he has helped me to recover some capital I lost in the hands of incompetent Brokers/Account Managers but thanks to Almighty God that at last I came in contact with Mr Mathew via his mail that was shared on the net by good traders, since then I have neve lost any trade you can reach him.

[@jackwilson2756]

Mathewdoman06@gmail .com))(

[@strobe9]

I would like to see the report card of a very successful trader. Please refer me to 'Austin's' online presence. Thanks!

[@nelsonbarros3372]

Aaron, may I have a link to where I can see your friend Austin report card? I would love to see his work. Thank you

[@Jrod4x]

Hey! How long have you been trading for? I'm looking to share my trading plan with a few people and get some feedback. Check it out and let me know what you think: www.jrod4xtradingplan.com

[@carlosfnicolau]

Nelson, I believe this is Austin's twitter: twitter.com/austinmitchyblu

[@almisks6970]

Why allow Jason bond ads???

[@rangikaailapperuma1465]

where can we find Austin's daily report card?

[@indresh_rao]

twitter.com/austinmitchyblu?s=08

[@dominic2446]

4:47 what does breadth (expressing your edge in different ways) mean? does it mean trading different strategies and markets? also what is sophistication? are there examples to explain these terms?

[@billw0129]

Got a message from an instagram account by Mike , how do i verify?

[@FastdounutTV]

MIkey B babyyyyy

[@aqn955]

Is it "Austin Mitchum" he's talking about?

[@keithsproson4328]

Comments accepted +++

[@akashpantha]

🔥

[@Nazmul.....]

Hey , I am new in trading .I want to be a full time trader. I am working on it hardly but I badly need a mentor to make my trading skill a sharp knife. Anybody please suggest me a good mentor to level up my skills.