{"id":11080,"date":"2011-04-25T09:21:31","date_gmt":"2011-04-25T13:21:31","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11080"},"modified":"2021-05-06T15:37:33","modified_gmt":"2021-05-06T19:37:33","slug":"when-to-play-whack-a-mole-with-a-level","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/when-to-play-whack-a-mole-with-a-level","title":{"rendered":"When to Play Whack-A-Mole with a Level"},"content":{"rendered":"<p>A few days ago I was leading a conference call of some remote day traders. One of the questions was: \u201cHow do\u00a0you determine when to try a trade more than once at a level\u201d? I simply answered: \u201cWhen the risk\/reward says it\u2019s okay.\u201d<\/p>\n<p>Playing whack-a mole at a level can be frustrating and you have to be careful that you don\u2019t start to engage in revenge\/battle trading. I guard against this by making sure that my realistically expected risk\/reward says it\u2019s okay. If I believe that my risk is 10 cents but my target is $1.50 playing whack-a-mole could make sense. Why?\u00a0 Using my back-of-the-napkin calculation I&#8217;m getting a 15 to 1 r\/r in the trade. If I lose 10 cents the first try, if I try again with risk of 10 cents I am still getting better than 7 to 1 r\/r. This r\/r makes it acceptable to me. In the markets today there are various reasons\u2014HF robots, widely disseminated levels, etc.\u2014why things don\u2019t trade as cleanly anymore, so it&#8217;s important to be mindful of them.<\/p>\n<p>Day trading with the high frequency robots running amok requires the patience to wait for high risk\/reward setups. As a professional day trader there is no sense in my complaining about it. Instead, just find a way to trade it. I find that this simple \u201cdime for a dollar\u201d strategy helps me. So what are <em>you<\/em> doing to successfully play whack-a-mole?<\/p>\n<p>Jeff Davis\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <a href=\"http:\/\/twitter.com\/#!\/Shaq48_Trading\">@Shaq48_Trading<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A few days ago I was leading a conference call of some remote day traders. One of the questions was: \u201cHow do\u00a0you determine when to try a trade more than once at a level\u201d? I simply answered: \u201cWhen the risk\/reward says it\u2019s okay.\u201d Playing whack-a mole at a level can be frustrating and you have to be careful that you &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/when-to-play-whack-a-mole-with-a-level\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1532],"tags":[260,81,653,1354,1349,1742],"class_list":["post-11080","post","type-post","status-publish","format-standard","hentry","category-guest-blog","tag-intraday-trading","tag-smb-training","tag-trader-training","tag-trading-coach","tag-trading-mentor","tag-whack-a-mole","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When to Play Whack-A-Mole with a Level | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/when-to-play-whack-a-mole-with-a-level\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When to Play Whack-A-Mole with a Level | SMB Training\" \/>\n<meta property=\"og:description\" content=\"A few days ago I was leading a conference call of some remote day traders. One of the questions was: \u201cHow do\u00a0you determine when to try a trade more than once at a level\u201d? I simply answered: \u201cWhen the risk\/reward says it\u2019s okay.\u201d Playing whack-a mole at a level can be frustrating and you have to be careful that you ... 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