{"id":11484,"date":"2011-05-11T13:33:43","date_gmt":"2011-05-11T17:33:43","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=11484"},"modified":"2011-05-11T13:33:56","modified_gmt":"2011-05-11T17:33:56","slug":"trade-the-trade","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/trade-the-trade","title":{"rendered":"Trade the Trade"},"content":{"rendered":"<div><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/banner_psychology.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-11485\" title=\"banner_psychology\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/banner_psychology.gif\" alt=\"\" width=\"427\" height=\"278\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/banner_psychology.gif 711w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/05\/banner_psychology-300x195.gif 300w\" sizes=\"auto, (max-width: 427px) 100vw, 427px\" \/><\/a><\/div>\n<div>A trader sent me this review of his work of yesterday:<\/div>\n<blockquote>\n<div>I made ~$250-300 right on the open which I was fairly happy with considering the stock I was trading didn&#8217;t move exactly how I wanted it to. I was trading actively, controlling my risk and in the trades I needed to be in. Most importantly, I was involved. None of the bigger plays worked but a couple of 15-25c scalps on 1000 shares generated some cash flow. It really helps to have cushion after the morning because it allows you to be more aggressive when you see the bigger picture intraday swings developing in the late morning.\u00a0I ended up making a few trades where I was looking for 30c or a half point but couldn&#8217;t find anything that I really liked today after 11:00.<\/div>\n<\/blockquote>\n<div>I was not thrilled with the\u00a0psychology\u00a0of his trading and responded:<\/div>\n<blockquote>\n<div><strong>being up of down doesn&#8217;t help you at all. \u00a0get that out of your head. \u00a0you job is to make trades where the risk\/reward is in your favor. \u00a0some aren&#8217;t gonna work. \u00a0some will. whether they do or not is not up to you. \u00a0and making trades b\/c you are up or negative is really fundamentally bad trading. \u00a0and something you need to stop immediately. <\/strong><\/div>\n<div><strong> is it a good trade? \u00a0if it is and you are down $500 then pull the trigger. \u00a0if you are up $1500 and it is a bad trade then don&#8217;t make it. \u00a0if a trade calls for being aggressive then be aggressive no matter your dopey P&amp;L. \u00a0 just make good trades and let the results come. trade the trade!<\/strong><\/div>\n<\/blockquote>\n<div>Mike Bellafiore<\/div>\n<div>Author,<strong> <a href=\"http:\/\/www.amazon.com\/gp\/product\/0470529407\/ref=s9_simh_gw_p14_d0_i1?pf_rd_m=ATVPDKIKX0DER&amp;pf_rd_s=center-2&amp;pf_rd_r=1FS8YXFX41SXZ512RHKM&amp;pf_rd_t=101&amp;pf_rd_p=470938631&amp;pf_rd_i=507846\">One Good Trade<\/a><\/strong><\/div>\n<blockquote><\/blockquote>\n<div><strong> <\/strong><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A trader sent me this review of his work of yesterday: I made ~$250-300 right on the open which I was fairly happy with considering the stock I was trading didn&#8217;t move exactly how I wanted it to. I was trading actively, controlling my risk and in the trades I needed to be in. Most importantly, I was involved. None &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/trade-the-trade\" 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":[10,455],"tags":[4674,1193,653,1354,1349,682],"class_list":["post-11484","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","category-trading_psychology","tag-one-good-trade","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","tag-trading-psychology","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>Trade the Trade | 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\/trade-the-trade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trade the Trade | SMB Training\" \/>\n<meta property=\"og:description\" content=\"A trader sent me this review of his work of yesterday: I made ~$250-300 right on the open which I was fairly happy with considering the stock I was trading didn&#8217;t move exactly how I wanted it to. I was trading actively, controlling my risk and in the trades I needed to be in. Most importantly, I was involved. None ... 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