{"id":14570,"date":"2011-09-22T14:48:54","date_gmt":"2011-09-22T18:48:54","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=14570"},"modified":"2021-05-07T11:17:54","modified_gmt":"2021-05-07T15:17:54","slug":"traders-ask-i-am-an-undertrading-undertrader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/traders-ask-i-am-an-undertrading-undertrader","title":{"rendered":"Traders Ask: I am an undertrading undertrader"},"content":{"rendered":"

Hello SMB,<\/p>\n

Thank you for what you do for the trading community. I appreciate the blog as well as Bella’s book. A problem that I have is undertrading or failure to pull the trigger. It doesn’t happen all of the time but it happens too often.<\/p>\n

An example:<\/p>\n

Yesterday (9\/21\/11) SINA had a refreshing seller at 97 between from about 9:45-10. SINA had showed relative weakness the previous day and the SPY’s had pushed back from resistance the previous afternoon. I thought this offered a good R:R. I had my shares queued up to offer .99 with a stop behind it at .06. However, I could just not hit enter. SINA then dropped 5 bucks, pretty much straight down.<\/p>\n

I have been trading full time for about 12 months now and feel that this is one of the last hurdles to becoming a CPT. I spent the 3 previous years working 2 jobs to save ample trading capital to withstand the learning curve….I can afford to take these small losses but can’t afford to waste time hesitating. Have you seen this amongst the many traders you have trained? What advice would you offer to push through this resistance?<\/p><\/blockquote>\n

Bella<\/strong><\/p>\n

First this is excellent work recognizing your problem. Second this is a nice job reaching out for a solution.<\/p>\n

A few suggestions:
\n1) Build a Playbook.\u00a0 After the close you should be recording the trades that make sense to you for your playbook. map out exactly what you loved about this set up. Give it a name. Internalize that these are the trades worth risk.<\/p>\n

2) Visualization. Visualize in detail this scenario. See yourself getting into the position. Repeat this exercise.\u00a0 You will prepare your mind to take this trade.<\/p>\n

3) Have a conversation with yourself. Why do you think you are not making this trade? Often it is helpful to understand why you are failing to pull the trigger. When you recognize the root of this issue you can work to solve it.<\/p>\n

4) Develop a list of A+ trades.\u00a0 30 percent of your intraday loss is a good guide for the intraday trader.\u00a0 Perhaps 2 percent of your portfolio for the swing trader.\u00a0 Set a predetermined amount you must risk on these trades. And record whether you are in fact risking that amount on these trades in real-time.<\/p>\n

Hope that helps.<\/p>\n

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

Hello SMB, Thank you for what you do for the trading community. I appreciate the blog as well as Bella’s book. A problem that I have is undertrading or failure to pull the trigger. It doesn’t happen all of the time but it happens too often. 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I appreciate the blog as well as Bella’s book. A problem that I have is undertrading or failure to pull the trigger. It doesn’t happen all of the time but it happens too often. An example: Yesterday (9\/21\/11) SINA had a refreshing seller at 97 between from about ... 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