{"id":1314,"date":"2009-07-02T18:05:35","date_gmt":"2009-07-02T23:05:35","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1314"},"modified":"2009-07-02T18:05:35","modified_gmt":"2009-07-02T23:05:35","slug":"making-money-during-a-quiet-period","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/making-money-during-a-quiet-period","title":{"rendered":"Making Money During A Quiet Period"},"content":{"rendered":"<p>Each day the market presents an opportunity to make money.\u00a0 Let me restate.\u00a0 Each day there is money to be extracted from the market.\u00a0 Let me restate.\u00a0 Professional traders who properly prepare each day have a 90% chance of taking money from the market.\u00a0 The 10% of the time they don&#8217;t make money is usually due to a mental mistake or lack of preparation.<\/p>\n<p>In the past month things have quieted down considerably in the market.\u00a0 Yet I have only felt on one occasion like there wasn&#8217;t a few thousand dollars available for the taking if I was focused on the best stocks and the best setups.\u00a0 Gman told me a few hours ago that for the past three days our Best AM Idea represented a trading opportunity with zero risk, meaning the three stocks hit our entry points but never traded against us, and moved in our favor between 50 cents and $1.50.\u00a0 That is an example of proper preparation.\u00a0 Selecting stocks that will move significantly off of previous inflection points.\u00a0 We find these inflection points from watching stocks trade after news is released, in the pre and post market, and actively trading them throughout the day.<\/p>\n<p>Today, the market was particularly quiet yet we were involved in three trades that presented $1 of upside with an average of less than ten cents of risk.<\/p>\n<p>1) ELN failure to breakout above 8.50.\u00a0 Huge volume was done at this level.\u00a0 After two failed attempts to hold above this level on heavy volume I got short.\u00a0 It closed around 7.60<\/p>\n<p>2) OSK breakout above previous day&#8217;s resistance of 18.80.\u00a0 Finished the day at around $20<\/p>\n<p>3) GIS held the bid at 58 (major long term level) before beginning a $1+ up move.<\/p>\n<p>Something the above three trades have in common is that they require <a href=\"http:\/\/www.smbtraining.com\/\">trading skills<\/a>.\u00a0 They weren&#8217;t as simple as buy at X or short at Y and then make a large chop.\u00a0 ELN wasn&#8217;t a short the first four times it dropped the 8.50 bid.\u00a0 It became a short when it dropped to 8.40 and the 8.47 offer never lifted.<\/p>\n<p>OSK dropped the 18.80 bid once in the morning but when it traded back above 18.80 the bid never dropped again.\u00a0 When it took out the AM high of 19 there was confirmation of the up trend and a large chop followed.<\/p>\n<p>GIS traded above and below the key 58 level in the morning and only became a long when there was an unusual hold on the bid for ten minutes in the late morning.\u00a0 This Unusual Hold was identified by several of the trainees in our June training class as a great entry point for the ensuing one point Up Move.<\/p>\n<p>Enjoy the holiday weekend.  Don&#8217;t forget to <a href=\"http:\/\/twitter.com\/smbcapital\">follow us on Twitter!<\/a><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-1321\" title=\"ELN 07-02-09 8.50 level\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/07\/ELN-07-02-09-8.50-level.bmp\" alt=\"ELN 07-02-09 8.50 level\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-1322\" title=\"OSK 07-02-09 18.80 level\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/07\/OSK-07-02-09-18.80-level.bmp\" alt=\"OSK 07-02-09 18.80 level\" \/><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-1323\" title=\"GIS 07-02-09 58.00 level\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/07\/GIS-07-02-09-58.00-level.bmp\" alt=\"GIS 07-02-09 58.00 level\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Each day the market presents an opportunity to make money.\u00a0 Let me restate.\u00a0 Each day there is money to be extracted from the market.\u00a0 Let me restate.\u00a0 Professional traders who properly prepare each day have a 90% chance of taking money from the market.\u00a0 The 10% of the time they don&#8217;t make money is usually due to a mental mistake &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/making-money-during-a-quiet-period\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8],"tags":[],"class_list":["post-1314","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-steven_spencer_steves_blogs","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>Making Money During A Quiet Period | 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\/making-money-during-a-quiet-period\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Making Money During A Quiet Period | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Each day the market presents an opportunity to make money.\u00a0 Let me restate.\u00a0 Each day there is money to be extracted from the market.\u00a0 Let me restate.\u00a0 Professional traders who properly prepare each day have a 90% chance of taking money from the market.\u00a0 The 10% of the time they don&#8217;t make money is usually due to a mental mistake ... 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