{"id":14194,"date":"2011-09-14T12:31:35","date_gmt":"2011-09-14T16:31:35","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=14194"},"modified":"2011-09-14T12:51:11","modified_gmt":"2011-09-14T16:51:11","slug":"when-do-you-sell","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/when-do-you-sell","title":{"rendered":"When do YOU sell (SOA)"},"content":{"rendered":"<p>This Open I kept saying,&#8221;For some reason SOA is working.&#8221;\u00a0 Above 14.62 the top of the opening range was my first entry.\u00a0 And above the consolidation at 15.10 was my second.\u00a0 &#8220;SOA continues to work for some reason.&#8221;<\/p>\n<p>Steve quipped SOA was the best stock we mentioned in our AM meeting.\u00a0 Like many traders he then found a moment of regret, &#8220;we should have killed SOA.&#8221;\u00a0 I am not sure I agree as the way it moved is not my favorite set up (perhaps a discussion for another blog.)\u00a0 It was just too slow and didn&#8217;t move away from prices as much as makes me more comfortable in a position.\u00a0 But that is just me and the slow uptrending stock can be the favorite of others.<\/p>\n<p>So I am in this position, well in the money, and the question becomes when to sell.\u00a0 I am sure no one has every struggled with this issue \ud83d\ude42\u00a0 @howardlindzon on a Bloomberg TV spot remarked selling is more of an art.\u00a0 And SOA is one very good example of how.<\/p>\n<p>A mentee and I took a quick look at the 5 day in SOA and found some ugliness at around 15.60-65c.\u00a0 SOA had failed from there miserably before and you couldn&#8217;t help but trade with caution as SOA approached this level.\u00a0 Now for the art.\u00a0 So do you sell when SOA gets to 15.60?\u00a0 Do you sell when SOA gets to near 15.60? Do you sell when SOA takes out the 15.44 on price after consolidation near the level?\u00a0 Do you sell when SOA tests 15.60 and fails?\u00a0 If have you multiple positions do you sell one and hold the other as DOA reaches near 15.60?\u00a0 Or both? Or none?<\/p>\n<p>Ok you get my point here I hope.\u00a0 There are many decisions to be made.\u00a0 For me I want to take off one of my lots when SOA approaches 60c and then hold the other for it to clearly fail at 60c or stop me out on price.\u00a0 But those are my rules.\u00a0 I have internalized my rules so when SOA approaches then level then <strong>I <\/strong>know how <strong>I<\/strong> want to exit <strong>MY<\/strong> position.\u00a0 Reading this blog does not make them your rules.\u00a0 Reading this post and then thinking about rules that make the most sense to you, internalizing them, working on executing them, tweaking them, and then internalizing these improved rules will.<\/p>\n<p>What is wrong is not thinking about how you will exit SOA.\u00a0 What is wrong is thinking too late when to exit SOA.\u00a0 What is wrong is blindly following some other trader&#8217;s exit.\u00a0 What is wrong is not having subsets for how you handle an approach to 60c.\u00a0 The high volume move to the level is very different than the low volume spike to the level.\u00a0 Both are very different with a very strong SPY versus a flat SPY.<\/p>\n<p>And so goes the game.\u00a0 Hey if it were easy it wouldn&#8217;t be so much fun.<\/p>\n<p>Keep working on your trading game!<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-14196\" title=\"soa\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa.png\" alt=\"\" width=\"590\" height=\"560\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa.png 590w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa-300x284.png 300w\" sizes=\"auto, (max-width: 590px) 100vw, 590px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa-5-days.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-14197\" title=\"soa 5 days\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa-5-days.png\" alt=\"\" width=\"590\" height=\"560\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa-5-days.png 590w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/soa-5-days-300x284.png 300w\" sizes=\"auto, (max-width: 590px) 100vw, 590px\" \/><\/a><\/p>\n<p>Bella<\/p>\n<p><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=cm_cr_pr_product_top\">One Good Trade<\/a><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>This Open I kept saying,&#8221;For some reason SOA is working.&#8221;\u00a0 Above 14.62 the top of the opening range was my first entry.\u00a0 And above the consolidation at 15.10 was my second.\u00a0 &#8220;SOA continues to work for some reason.&#8221; Steve quipped SOA was the best stock we mentioned in our AM meeting.\u00a0 Like many traders he then found a moment of &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/when-do-you-sell\" 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":[30,1897,1828,1193,653,1354,1349],"class_list":["post-14194","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-prop-trading","tag-sell","tag-smbu","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>When do YOU sell (SOA) | 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-do-you-sell\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When do YOU sell (SOA) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"This Open I kept saying,&#8221;For some reason SOA is working.&#8221;\u00a0 Above 14.62 the top of the opening range was my first entry.\u00a0 And above the consolidation at 15.10 was my second.\u00a0 &#8220;SOA continues to work for some reason.&#8221; Steve quipped SOA was the best stock we mentioned in our AM meeting.\u00a0 Like many traders he then found a moment of ... 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