{"id":13597,"date":"2011-08-01T18:52:51","date_gmt":"2011-08-01T22:52:51","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=13597"},"modified":"2011-08-01T17:57:46","modified_gmt":"2011-08-01T21:57:46","slug":"your-daily-game-plan","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/your-daily-game-plan","title":{"rendered":"Your Daily Game Plan"},"content":{"rendered":"

Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit.<\/p>\n

Aristotle<\/p><\/blockquote>\n

One our trainees sent me an email over the weekend asking me to review his daily game plan.\u00a0 I emailed, “Let’s discuss during our 11am post-Open recap.”\u00a0 Today, with his other classmates, we discussed this “rough draft of his game plan”.\u00a0 I cannot say this is my game plan.\u00a0 There are some things I would add.\u00a0 In our training program we offer a power point on how you might spend your day and there is more detail than the game plan below.\u00a0 But what I love is the effort.\u00a0 This is excellent work thinking about how you might spend your day so that you improve.\u00a0 It’s the thousand little things done well consistently that make all the difference.<\/p>\n

What would you add to this daily game plan?<\/p>\n

Morning Stock Scan<\/strong>
\n– What\u2019s Asia \/ Europe doing overnight? \u2013 Know all important time\/announcements today.
\n– Price within 20 \u2013 60$ NYSE
\n– Average ATR > 1
\n– Stocks that has a definitive support \/ resistance area pre market
\n– Gap Up\/Down between 4 \u2013 10%
\n– Even better if it\u2019s gapping up\/down above\/below strong consolidation phase.
\n– Even better if market aligned – Market above resistance\/below support
\n– Confirmed by morning call stocks and \/ or SMB radar
\n– Pick top 3 stocks and focus on 1 at a time \u2013 set alerts for rest.
\nMorning Plays (record the open)<\/strong>
\n-Pure momentum plays till near term support \/ resistance \/ mom slows down
\n– looking for 20 C – $1 moves, should be quick and with volume
\n– Know your real risk and set right stops. Not worth taking 20 c if risk is 20c.
\n-Be ready for reversals before 10:00 am.
\n-Look for strong flag patterns. \u2013 1st stage to develop a trade to hold idea. \u2013 try to find these after 10:00 am.
\n– Best patterns for me: Strong Flags with very low pullbacks, Break resistance\/support and retest, Gap up\/down then break intraday support\/resistance to fill gap or go higher to next level.
\nMid-Day Plays<\/strong>
\n– Should already established 1 trade to hold ideas from the open.
\n– Watch your ticket avg \u2013 if not favorable then wait after 2:15 to look for favorable trades. \u2013 No need to force it now \u2013 it\u2019ll ruin your ticket avg even more.
\n– if nothing develops or in a range day with low volume and volatility, stop trading immediately.
\n– Look for failures \/ break of trend, since its lunch hour. \u2013 be ready to take some off if currently holding a trade to hold.
\n– Sit out for most of hour or 2 till volume \/ volatility picks up.
\n– No need to scalp – churn up commissions and wasted energy during this time as breakouts doesn\u2019t follow through most of the time.
\n– Search for ONLY high probability such as breaking news momo plays, (SMB Spike radar)
\n– Speak w\/ other traders about what worked today and what didn\u2019t. \u2013 (Remember the 3 strike rule)
\nClose Plays<\/strong>
\n– SMB radar ( trending up \/ down ) \u2013 enter at great prices, be very selective.
\n– try not to size up to add more risk before the close.
\n– Don\u2019t fight the trend.
\n– By this time, you are either doing great or not. \u2013 Don\u2019t force anything that market won\u2019t offer.
\nAfter Close<\/strong>
\n– Review tape that\u2019s recorded during the open.
\n– Find out the best and worst trades. \u2013 May not be based on P\/L. \u2013 Be thorough w\/ the execution file.
\n– Speak w\/ other traders on the desk about their trading session. \u2013 learn from them.
\n– What to expect tomorrow?<\/p>\n

Bella
\nOne Good Trade<\/a><\/strong>
\n\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit. Aristotle One our trainees sent me an email over the weekend asking me to review … 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":[1,10],"tags":[1872,4674,1828,1193,653,1354,1349],"class_list":["post-13597","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-daily-game-plan","tag-one-good-trade","tag-smbu","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"\nYour Daily Game Plan | 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\/your-daily-game-plan\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Your Daily Game Plan | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit. Aristotle One our trainees sent me an email over the weekend asking me to review ... 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