{"id":1440,"date":"2009-07-13T20:49:50","date_gmt":"2009-07-14T01:49:50","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1440"},"modified":"2009-07-14T21:12:54","modified_gmt":"2009-07-15T02:12:54","slug":"stick-with-it","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/stick-with-it","title":{"rendered":"Stick With It"},"content":{"rendered":"<p>Internally SMB\u00a0 shares intraday alerts for all major intraday levels that our desk discovers.\u00a0 Our desk is taught to share important intraday levels verbally through our audio feeds.\u00a0\u00a0 None of this works without trading skills.\u00a0 None of this works without the trader sticking with a trade.\u00a0 Let&#8217;s discuss.<\/p>\n<p>Today I was trading OSIP.\u00a0 It was In Play, had gapped up, and was holding at these elevated prices.\u00a0 But 30.40 became significant intraday resistance.\u00a0 30.40 would just not lift the offer.\u00a0 30.40 offer was immovable.\u00a0 And I shared this resistance level with the desk.\u00a0 First we were short.\u00a0 But then after OSIP was not trading much lower after meeting this substantial intraday resistance level, it appeared likely that the level would be violated.\u00a0 We stayed short but ready to cover and flip above 30.40.<\/p>\n<p>Finally 30.40 lifted and I covered and flipped.\u00a0 OSIP traded up about 15c but then traded lower than 30.33.\u00a0 This was not what we were looking for.\u00a0 Some may have bought 47c, watched the stock trade higher, and then exited when OSIP traded below 40c.\u00a0 Some may have bought even higher and hit a little lower.\u00a0 Some may have taken an initial rip after this level, 30.40, was violated.<\/p>\n<p>Look, anyone can buy a stock when it violates a resistance level and profit if it explodes.\u00a0 And there will be trades when a stock breaches a resistance level, you get long, and the stock explodes.\u00a0 Chop!\u00a0 But these will be your best trades.\u00a0 What about the good trades, the mediocre trades, the poor trades, the difficult trades, etc.\u00a0 What about them?\u00a0 Can you handle those?\u00a0 Or will you carp about how the stock did not immediately explode above the level?\u00a0 Will you join the ranks of the lesser trader?<\/p>\n<p>Because the lesser trader thinks that trading is just about finding levels, taking positions, and making serious bank.\u00a0 This is not the market I have traded for the past twelve years.\u00a0 But the market is fair to those with trading skills.\u00a0 And there is serious bank for those who develop trading skills.\u00a0 And one is to stick with a stock.\u00a0 And OSIP today is the perfect example.<\/p>\n<p>So when OSIP initially failed to break out above 40c I took a small rip.\u00a0 But I stayed with the stock.\u00a0 The 40c resistance level was replaced with the 50c resistance level.\u00a0 Greaaaaaat!\u00a0 But I remained patient.\u00a0 I waited for OSIP to hold above 50c which btw took a few more fake breakouts above 50c.\u00a0 But finally OSIP held above 50c, made an impressive upmove to 77c, and never broke its intraday uptrend till very late in the day.\u00a0 Finally we caught a decent upmove.<\/p>\n<p>The lesser trader exits after the initial failed breakout and moves on.\u00a0 The lesser trader does not stick with their stocks.\u00a0 The lesser trader learns a level and can only trade the stock if it acts exactly how they have decided it should.\u00a0 But that isn&#8217;t the trading that I know.<\/p>\n<p>Levels are not helpful unless you <a href=\"http:\/\/www.smbtraining.com\">learn how to trade<\/a>.\u00a0 These levels are invaluable only for those with trading skills.<\/p>\n<p>Best of luck with your trading!  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-1444\" title=\"OSIP 7-13-09\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/07\/OSIP-7-13-09.bmp\" alt=\"OSIP 7-13-09\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Internally SMB\u00a0 shares intraday alerts for all major intraday levels that our desk discovers.\u00a0 Our desk is taught to share important intraday levels verbally through our audio feeds.\u00a0\u00a0 None of this works without trading skills.\u00a0 None of this works without the trader sticking with a trade.\u00a0 Let&#8217;s discuss. Today I was trading OSIP.\u00a0 It was In Play, had gapped up, &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/stick-with-it\" 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":[1,10],"tags":[331,30,18,301],"class_list":["post-1440","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-osip","tag-prop-trading","tag-smb-capital","tag-trading-blog","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>Stick With It | 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\/stick-with-it\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stick With It | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Internally SMB\u00a0 shares intraday alerts for all major intraday levels that our desk discovers.\u00a0 Our desk is taught to share important intraday levels verbally through our audio feeds.\u00a0\u00a0 None of this works without trading skills.\u00a0 None of this works without the trader sticking with a trade.\u00a0 Let&#8217;s discuss. Today I was trading OSIP.\u00a0 It was In Play, had gapped up, ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/stick-with-it\" \/>\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=\"2009-07-14T01:49:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2009-07-15T02:12:54+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/07\/OSIP-7-13-09.bmp\" \/>\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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