This document summarizes the top five trading frustrations reported by the SMBU trading community and provides potential solutions. The top frustrations are: 1) adapting to changing market conditions, 2) lack of confidence, 3) lack of consistency, 4) being stopped out of trades that subsequently move in the intended direction, and 5) selling winners too early. The document recommends developing domain knowledge, sustaining energy, incorporating critical feedback, and engaging in purposeful practice to improve trading skills and consistency. It promotes SMBU's DNA training program to help traders overcome challenges.

1. Solutions for the SMBU Community’s
Top Five Trading Frustrations
Bella and Spencer
Co-Founders- SMBU, SMB Capital, SMB Systems

2. SMB TRAINING is NOT a Broker Dealer. SMB Training engages in trader education and training. SMB TRAINING offers a
number of products and services, both electronical (over the internet through smbtraining.com) and in person. SMB
TRAINING also offers web-based, interactive training courses on demand.
The seminars given by SMB TRAINING are for educational purposes only. This information neither is, nor should be
construed, as an offer, or a solicitation of an offer, to buy or sell securities. You shall be fully responsible for any
investment decision you make, and such decisions will be based solely on your evaluation of your financial
circumstances, investment objectives, risk tolerance, and liquidity needs.
This material is being provided to you for educational purposes only. No information presented constitutes a
recommendation by SMB TRAINING or its affiliates to buy, sell or hold any security, financial product or instrument
discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as,
an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment
decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances. Such
decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk
tolerance and liquidity needs.
SMB Training and SMB Capital Management, LLC are separate but affiliated companies.
No relevant positions
Please note: Hypothetical computer simulated performance results are believed to be accurately presented. However, they are
not guaranteed as to accuracy or completeness and are subject to change without any notice. Hypothetical or simulated
performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not
represent actual trading. Since, also, the trades have not actually been executed; the results may have been under or
over compensated for the impact, if any, of certain market factors such as liquidity, slippage and commissions.
Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight.
No representation is being made that any portfolio will, or is likely to achieve profits or losses similar to those shown.
All investments and trades carry risks.”

3. Goals
• Review SMBU Trading Community’s Trading
Frustrations
• Offer Solutions for the Top Five Trading
Frustrations
• “You can be better than you are today!”- Mike
Bellafiore, The PlayBook
• Help you become a better trader
• Give you pro process ideas to improve

4. Gr8 Job Attending!

5. SMBU Community Trading Frustrations
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Can’t pull the trigger from lack of confidence
Not adding size to winning trades
Letting winners turn into losers
Fear of trading with a high ATR
Selling too early, missing big moves in TSLA
Great entries but getting stopped out knowing
I should get back in, watching it work with out
me

6. SMBU Community Trading Frustrations
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Not getting out when strategy isn’t working
Overtrading in low volatility
Not knowing when to exit a trade
Not having a “playbook” for my trading
Giving back my profits
Big ego
Not sticking to my game plan

7. SMBU Community Trading Frustrations
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Unsure how to identify stocks to trade
Not being big enough in certain trades
Taking big losses as opposed to small losses
Lack of perpetration
Doubting myself and then watching the trade
unfold how I thought it would
• Staying in trades that are going nowhere

8. SMBU Community Trading Frustrations
• Unsure of how to Read the Tape
• Being inconsistent
• Not patient waiting for the stock to hit entries
or exits
• Not sticking to my stops
• Dealing with a string of losses
• Overtrading – revenge trading

9. SMB Community’s Top Five Trading Frustrations
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Selling Too Early
Being Stopped Out and then Right
Lack of Consistency
Lack of Confidence
How to Adapt to Changing Market Conditions

10. #5 Selling Too Early
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Selling way to early and missing the large
move. Was in TSLA yesterday and sold 8
minutes before 10 pt. run. Saw stock was
getting unstable and wussed out. Also in
DDD today at 86.06 and sold @ 86.18 and
missed 4 pt. move to 90...ouch x2!

11. #4 Being Stopped Out and Right
• “This is an easy question to answer:
1) Watching a trade move in the direction I
had originally planned after being stopped
out.”

12. #3 Lack of Consistency
• “I have some very good Days but still can’t achieve
consistency and comparing my profit from day to day they are
too volatile.”

13. #2 Lack of Confidence
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Hi Mike,
I appreciate the effort you and your associates put into these webinars
1. Self-belief
2. Lack of self belief in tape reading skills . My thought process goes like this. See
a situation developing then start to doubt that this could be right so then I waiting
to see if I am right, then when it goes as I thought it would, think I am now too
late.

14. This is trading confidence!

15. #1 Changing Market Conditions
• “I struggle to come to terms with the changing market conditions and how
from year to year the markets can seem easier and then harder. This
provides frustration as for long periods of time you can apply yourself put
in the work and yet earn less. I know P&L is only the score and the process
is key but the feeling of a lack of progression eats away at me.”

16. SMB DNA Open Tomorrow
• Message: I have been trying for about 2 months to get on the list for the
DNA course. The online response keeps saying "Sold Out" with no option
to get on the list. Can you please help? Thank you. KD
• Three Free Videos at www.smbu.com/dna

17. SMB DNA
• Just read the testimonials
• “Awesome program! I am very impressed with the level of effort
Mike Bellafiore and Steve Spencer put into mentoring and training
the students. There is no one out there that provides the
comprehensive training, mentoring, meetings and class materials
that SMB provided for the DNA of Success class. The access to the
morning ideas meeting and the daily mentoring meetings at noon
and after the close were invaluable. The weekly DNA mentoring
meetings were also a great experience, being mentored by and
being able to chat and ask questions of Bella and Steve was
priceless! The class instilled in me the value of the hard work and
effort required to become a successful trader. There is a lot to learn
and SMB gives you all of the tools and materials to help you
succeed.” --Deborah K., St Pete Beach, FL

18. You Can Improve!
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Domain Knowledge
Sustained Energy
Critical Feedback
Purposeful Practice
“You can be better tomorrow than you are
today!”- Bella, The PlayBook

19. Contact Bella
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mbellafiore@smbcap.com
@mikebellafiore
sspencer@smbcap.com
@sspencer_smb
www.smbu.com/dna