{"id":13736,"date":"2011-08-08T12:32:06","date_gmt":"2011-08-08T16:32:06","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=13736"},"modified":"2023-04-26T09:51:55","modified_gmt":"2023-04-26T13:51:55","slug":"what-you-might-learn-in-your-first-weeks-in-trading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/what-you-might-learn-in-your-first-weeks-in-trading","title":{"rendered":"What You Might Learn in Your First Weeks in Trading"},"content":{"rendered":"<p>Below is a great example of what you might learn in your first weeks of trading.<\/p>\n<p>Hi Bella,<\/p>\n<p>Friday was my second day trading live. So far I&#8217;m up $72 on day one and up $72 on day two.<\/p>\n<p>I could have done much better on Friday, but I chipped back bits by bits during the mid day. I wrote down my mistakes and things I could done better. I learned that trading live is very different from DEMO, so some of the lists I have here are very different from the ones I sent you before:<\/p>\n<p>1. If you trade IPO stocks, you must know the IPO price (Bella)<br \/>\n2. If a stock consolidates, breaks to the upside, and moves back into the consolidation range, it is likely to break down (Spencer)<br \/>\n3. When your reason in the stock isn&#8217;t there anymore, especially momentum lot, get out immediately! Don&#8217;t hold and pray!<br \/>\n4. When you trade momentum, don&#8217;t just only trade momentum. You should also look for places\/prices that are Trade2Hold<br \/>\n5. Don&#8217;t trade momentum lot in a consolidation range, unless there&#8217;s real momentum going on<br \/>\n6. Inside day, or range, can easily make you to trade on tilt, where there&#8217;s no levels, and you&#8217;re trying to make up levels, which is dangerous, and can slowing chip your money away (Carlton)<br \/>\n7. Patience: wait until you see a clear entry (setup) where you can define risks. Don&#8217;t press it when you don&#8217;t have a clear plan<br \/>\n8. When you see thick stocks suddenly drop out huge, it&#8217;s foreshadowing weak stocks (Carlton). Example: PCS dropped form 12.9 to 12.7 in 10 seconds<br \/>\n9. WHen stock is weak, broken, and you have to offer up due to uptick rule, you&#8217;ll have to be patient, and forget about making the spraed, because you make most of your money on Trade2Hold (Spencer)<br \/>\n10. In weak, broken stocks, don&#8217;t think about going long; focus your energy on getting short.<br \/>\n11. when downtrend has ended, you need to stop being aggressive at shorting. Instead, look for retracement that provides good entry for shorts.<br \/>\n12. Discipline: having a good price is very important. Fear of missing a move, chasing, and then getting stopped out is two mistakes (Bella)<br \/>\n13. Before 9:50am, there&#8217;s mostly no trend. Take profits on big moves (Spencer)<br \/>\n14. Know your &#8220;No Trade Zone&#8221; = range that slowly kills you (Spencer) (Plus, risk\/reward makes no sense)<br \/>\n15. When a stock has huge down move, statistically, it may consolidate a few days before another down day (Carlton)<br \/>\n16. Don&#8217;t trade mid day unless there ares A+ setups.<br \/>\n17. Don&#8217;t trade just because junior traders are trading it. You must really know what setups are being presented<br \/>\n18. Careful to short retracement spikes when market is so extended to the short side, and near panic\/capitulation zone<\/p>\n<p>Bella<br \/>\n<em><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=cm_cr_pr_product_top\">One Good Trade<\/a><\/em><br \/>\n<a href=\"http:\/\/twitter.com\/smbcapital\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Below is a great example of what you might learn in your first weeks of trading. Hi Bella, Friday was my second day trading live. So far I&#8217;m up $72 on day one and up $72 on day two. I could have done much better on Friday, but I chipped back bits by bits during the mid day. I wrote &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/what-you-might-learn-in-your-first-weeks-in-trading\" 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],"tags":[1828,1876,1193,653,1354,1349],"class_list":["post-13736","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-smbu","tag-trader-development","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","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>What You Might Learn in Your First Weeks in Trading | 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\/what-you-might-learn-in-your-first-weeks-in-trading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What You Might Learn in Your First Weeks in Trading | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Below is a great example of what you might learn in your first weeks of trading. Hi Bella, Friday was my second day trading live. So far I&#8217;m up $72 on day one and up $72 on day two. I could have done much better on Friday, but I chipped back bits by bits during the mid day. I wrote ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/what-you-might-learn-in-your-first-weeks-in-trading\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2011-08-08T16:32:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-26T13:51:55+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta 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