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Summary

An inside look at what it really takes to become a better trader.

A proprietary trading firm consists of a group of professionals who trade the capital of the firm. Their income and livelihood is generated solely from their ability to take profits consistently out of the markets. The world of prop trading is mentally and emotionally challenging, but offers substantial rewards to the select few who can master this craft called trading.

In One Good Trade: Inside the Highly Competitive World of Proprietary Trading, author Mike Bellafiore shares the principles and techniques that have enabled him to navigate the most challenging of markets over the past twelve years. He explains how he has imparted those techniques to an elite desk of traders at the proprietary trading firm he co-founded. In doing so, he lifts the veil on the inner workings of his firm, shedding light on the challenges of prop trading and insight on why traders succeed or fail. An important contribution to trading literature, the book will help all traders by:

  • Emphasizing the development of skills that are critical to success, such as the fundamentals of One Good Trade, Reading the Tape, and finding Stocks In Play.
  • Outlining the factors that really make the difference between a consistently profitable trader and one who underperforms. 
  • Sharing entertaining, hysterical, and page turning stories of traders who have excelled or failed and why, many trained by the author, with an essential trading principle wrapped inside. 

Becoming a better trader takes discipline, skill development, and statistically profitable trading strategies, and this book will show you how to develop all three. 

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2010 Mike Bellafiore (P)2012 Gildan Media

What listeners say about One Good Trade

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  • Overall
    5 out of 5 stars
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    5 out of 5 stars

The best book on modern trading.

Explains anecdotally the inner workings of smb capital, the proprietary trading house, NY.

Excellent book, I await the follow up appearing on audible, “The Playbook”.

2 people found this helpful

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Insightful & Entertaining

A fascinating & useful insight into the inner workings, structure & the personalities involved in the running of a prop firm. Both mind opening & entertaining.

1 person found this helpful

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Trading Classic

A captivating trading book, full of invaluable info for any trader, novice or experienced. Also a great insight to prop trading in SMB and understanding what it takes to become a successful trader.

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If you are serious about trading

Mike is a great storyteller and troughs "pages" of this book helps me shorten the time I need to become CPT.
Do you wonder what is CPT?

CPT is Consistently Profitable Trader.

Before anyone can make trading a profession and live a comfortable life first you have to stop losing money.
You have to learn the rules of how the market operates.
The market can be generous or ruthless and it is up to you to make sure you are more often on the generous side than ruthless.
The market does not care if you have to pay for medicines that will save your life or will wallpaper your garage with $100 bills.
The market is impartial, the market is the market. Follow its rules and prosper or face the consequences.

Mike is a great teacher, I wish I could have someone like Mike next to me on my trading sessions.

When you learn you want someone who can point out your mistakes and don't just praise you.
Failed that, this book is the next best thing.

You should "read" (or listen) to this book not once but many times. Every few months or every year or so.
Each time you can pick another great diamond that will help you.

Remember trading is not a race, it is a marathon.

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  • Priscilla Smalls
  • 03-11-20

More than Proprietary Funded Trading

I was hesitant to listen to this book as other reviews stated is was about Bellafiore's proprietary funded trading company. Fortunately, for me I gave it a try. This book was excellent for new traders as it provides information about the psychological behaviors of different types of traders. New traders give it a listen. It will be helpful for you.

6 people found this helpful

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  • Amazon Customer
  • 23-05-21

Pretty helpful

Amending my earlier review because while I found the earlier chapters more entertaining than educational, the later parts of the book where the author goes over the training program for SBC and how they coach their traders past each of their individual mental obstacles was actually pretty helpful! Initially I found the repeated references to "hot girlfriends" or comments about attractive women rather grating and unnecessary even though the author probably thought he was being pretty tame and merely injecting a light dose of humor & relatability into a book about trading. But those comments made the book feel rather dated and also evinced the sports-loving, Ivy-league-trained-alpha-male culture of trading desks, which was not a plus. However, I thought the topic of tape reading was very informative and helpful, and while most traders will already be familiar with the ideas being showcased in this book, placing it in these real-world framework through Mike's anecdotes about his traders may help solidify those ideas (especially about risk management) and bring about real changes in how you execute your everyday trades.

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  • Blake
  • 04-01-21

Not great

I bought this expecting a book about trading, it really is just a bunch of sports analogies and anecdotes about how much this guy likes dudes.

3 people found this helpful

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  • Kindle Customer
  • 12-04-21

This Book Can Become a Reality, that's up to you

Best book I have read for a while and work for a prop firm making their own reality of this world.

2 people found this helpful

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  • Anonymous User
  • 05-10-21

An essential life lesson for each trader

I loved this book because it was like a life's timeline. The greatest lessons are not those one you read in technical analysis books and trading strategies books but those who come out of mistakes we all did in our trading career (even though I am far from considering myself a trader yet)
Hearing the story I could find myself doing the same mistakes many times. And the worst of them all it was that I could not accept them, adapt to the market, and go on. I thought that I was not meant to be a trader or there is something wrong with my judgement. Listening to all these stories made me understand that I have way more mistakes to do as a trader but what matters is learn from them (even though sometimes the lessons can prove to be expensive )
This books is like transmitting you directly real life experience from all those traders mentioned in the book.
If I had to distinguish one and only lesson is that first and foremost a trader needs to have discipline not only in his trading hours but in his lifestyle as well. This is the only way to lactively listen the more experienced traders advising you and follow strictly your plan

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  • Greivin
  • 17-09-21

Family values For titans!!

My most memorable moments is Bela recognizing his own pitfalls and downtimes psychology wise reminds me That is OK I can clean my wounds and get back on the horse ..Uncle Steve lol commitment to the craft is inspiring to get to work and keep moving! I love the markets thank you so much for such a valuable lessons 💗.

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  • Ward
  • 28-07-21

Great broad-brush look at the prop trading world

…From someone who has clearly lived it. Tons of character anecdotes and cautionary tales on what tends to succeed and fail in the business. At times it feels like you are right there in the room, and probably glad that you are not one of the people involved.

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  • Joe
  • 25-07-21

Companion PDF link is broken. Buy a paper copy.

Companion PDF link is broken. Buy a paper copy. The PDF material is important.

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  • Mafe
  • 18-07-21

Poor imitation of New Market Wizards

Most of this book is spent advertising the authors firm and telling the short stories of why they give nicknames to their traders. If you have no idea how a prop firm works, sure this will give you some insight, but otherwise it is basically a poor imitation of "The New Market Wizards" without any actual meat on the bone. Don't waste your time if you are looking for insights to be a better trader. Even the title of the book does not make much sense other than to say you should focus on one trade at a time. While the author says to focus on "One Good Trade" there is not much detail about what exactly that means other than to keep going and focus on the next trade.

There is also quite a bit of repetitiveness in the book with stories that overlap and at times I found myself saying "Why are you repeating this again, you already wrote this a few chapters ago.". If anything I would put this book in the "memoir" category.

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  • jorg
  • 01-04-21

Very Good!!


very very very very good good good good good good good good good good good good it is so well done