{"id":14592,"date":"2011-09-23T11:15:21","date_gmt":"2011-09-23T15:15:21","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=14592"},"modified":"2011-09-23T11:15:34","modified_gmt":"2011-09-23T15:15:34","slug":"caught-in-an-overflip","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip","title":{"rendered":"Caught in an overflip (CAVM)"},"content":{"rendered":"

I haven’t been this mad at myself as a trader in a long time.\u00a0 After the trade I vocalized, “That was such a stupid trade.\u00a0 That is exactly how not to trade.”\u00a0 I was pissed.\u00a0 Furious. I had a family issue that placed me in a foul mood right before the Open. To the point where I almost got up and didn’t trade the Open. Maybe I should have.<\/p>\n

I was trading CAVM mainly on the short side for an opening drive to the downside.\u00a0 I caught some of that.\u00a0 Then I recognized the selling that drove CAVM down was not the same.\u00a0 Next I saw an upmove.\u00a0 Still next a bullish buyer sat and absorbed a significant amount of stock at 26.50.<\/p>\n

Now I am generally slow to flip.\u00a0 For me with a set up such as the above I am concentrating on hitting CAVM if that 50c buyer drops.\u00a0 But it was right on the open.\u00a0 And there are no trends in the first fifteen minutes of trading.\u00a0 There is price discovery.<\/p>\n

So I started to wonder if I ought to trade with more flexibility for this trade.\u00a0\u00a0 The same seller was not there.\u00a0 There was an aggressive buyer.\u00a0 CAVM had a lot of room to run if I caught this reversal.\u00a0 It appeared I could easily control my risk if the 50c buyer dropped.\u00a0 So I bought a few lots and watched.<\/p>\n

The buyer dropped and my stops were triggered. If I have multiple lots I often use stops as this is now easier to control my risk.\u00a0 Then it appeared the 49c offer was holding. \u00a0 It wasn’t, I was just too aggressive here with an overflip. \u00a0I got short.\u00a0 It held a little more.\u00a0 I got short some more.\u00a0 But then CAVM came back and started holding the 50c bid again.\u00a0 Argggh.\u00a0 I covered one lot.<\/p>\n

Generally when I exit a short I like to bid out.\u00a0 I am not a big fan of paying the offer to exit as this can be costly for the active trader.\u00a0 A skill a good intraday trader must develop is how to bid out of a short and save the spread.\u00a0 I started to bid out of my last lot.\u00a0 I bit 52c and nothing.\u00a0 Someone stepped higher.\u00a0 I bid 56c and nothing.\u00a0 CAVM spiked to 7oc offer.\u00a0 I bid 61c.\u00a0 CAVM spiked to 83c.\u00a0 I bid 71c.\u00a0 I just couldn’t get CAVM on the bid.\u00a0 Ripper.<\/p>\n

I paid 27.01 to cover.\u00a0 Did I mention I was pissed?\u00a0 I sensed I was in an angry emotional state.\u00a0 Like most traders I considered the home run trade to make all of this pain go away.\u00a0 I can control those emotions and passed on that idea.\u00a0 I wanted to bang my keyboard.\u00a0 That was just gonna make some noise and I wasn’t down enough for that nonsense.\u00a0 Should I get up and take a walk?\u00a0 No I know I need to make One Good Trade and then One Good Trade.\u00a0 I remained patient and looked for a clear trade that made sense to me. I used my anger to focus on an excellent risk\/reward trade. I have also used this frustration to eliminate this overflip from future sessions.<\/p>\n

That was a day changer trade.\u00a0 I got caught for one lot short for a 51c loss.\u00a0 I should have captured a one lot gain for 80c and still be long another $1 in the money for my other lot.\u00a0 At one thousand share clips that is a $2330 difference.\u00a0 And just because of that one mistake to overflip.<\/p>\n

\"\"<\/a><\/p>\n

Bella<\/p>\n

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

I haven’t been this mad at myself as a trader in a long time.\u00a0 After the trade I vocalized, “That was such a stupid trade.\u00a0 That is exactly how not to trade.”\u00a0 I was pissed.\u00a0 Furious. I had a family issue that placed me in a foul mood right before the Open. To the point where I almost got up … 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":[30,1828,1193,653,1354,1349],"class_list":["post-14592","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-prop-trading","tag-smbu","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"\nCaught in an overflip (CAVM) | 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\/caught-in-an-overflip\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caught in an overflip (CAVM) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I haven’t been this mad at myself as a trader in a long time.\u00a0 After the trade I vocalized, “That was such a stupid trade.\u00a0 That is exactly how not to trade.”\u00a0 I was pissed.\u00a0 Furious. I had a family issue that placed me in a foul mood right before the Open. To the point where I almost got up ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip\" \/>\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=\"2011-09-23T15:15:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2011-09-23T15:15:34+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.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 name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"Caught in an overflip (CAVM)\",\"datePublished\":\"2011-09-23T15:15:21+00:00\",\"dateModified\":\"2011-09-23T15:15:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip\"},\"wordCount\":607,\"commentCount\":5,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png\",\"keywords\":[\"prop trading\",\"smbU\",\"trader education\",\"trader training\",\"trading coach\",\"trading mentor\"],\"articleSection\":[\"Mike Bellafiore's (Bella's) Blogs\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip\",\"name\":\"Caught in an overflip (CAVM) | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png\",\"datePublished\":\"2011-09-23T15:15:21+00:00\",\"dateModified\":\"2011-09-23T15:15:34+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage\",\"url\":\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png\",\"contentUrl\":\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Caught in an overflip (CAVM)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"name\":\"SMB Training Blog\",\"description\":\"Lessons from the trading desk\",\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\",\"name\":\"SMB Training\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"contentUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png\",\"width\":230,\"height\":81,\"caption\":\"SMB Training\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/smbcap\/\",\"https:\/\/x.com\/smbcapital\",\"https:\/\/www.youtube.com\/user\/smbcapital\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\",\"name\":\"Bella\",\"description\":\"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.\",\"sameAs\":[\"https:\/\/www.smbtraining.com\/blog\/bellas-blog\"],\"url\":\"https:\/\/www.smbtraining.com\/blog\/author\/bella\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Caught in an overflip (CAVM) | SMB Training","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip","og_locale":"en_US","og_type":"article","og_title":"Caught in an overflip (CAVM) | SMB Training","og_description":"I haven’t been this mad at myself as a trader in a long time.\u00a0 After the trade I vocalized, “That was such a stupid trade.\u00a0 That is exactly how not to trade.”\u00a0 I was pissed.\u00a0 Furious. I had a family issue that placed me in a foul mood right before the Open. To the point where I almost got up ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2011-09-23T15:15:21+00:00","article_modified_time":"2011-09-23T15:15:34+00:00","og_image":[{"url":"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png","type":"","width":"","height":""}],"author":"Bella","twitter_card":"summary_large_image","twitter_creator":"@smbcapital","twitter_site":"@smbcapital","twitter_misc":{"Written by":"Bella","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"Caught in an overflip (CAVM)","datePublished":"2011-09-23T15:15:21+00:00","dateModified":"2011-09-23T15:15:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip"},"wordCount":607,"commentCount":5,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage"},"thumbnailUrl":"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png","keywords":["prop trading","smbU","trader education","trader training","trading coach","trading mentor"],"articleSection":["Mike Bellafiore's (Bella's) Blogs"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip","url":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip","name":"Caught in an overflip (CAVM) | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage"},"thumbnailUrl":"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png","datePublished":"2011-09-23T15:15:21+00:00","dateModified":"2011-09-23T15:15:34+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#primaryimage","url":"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png","contentUrl":"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/09\/cavm.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/caught-in-an-overflip#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"Caught in an overflip (CAVM)"}]},{"@type":"WebSite","@id":"https:\/\/www.smbtraining.com\/blog\/#website","url":"https:\/\/www.smbtraining.com\/blog\/","name":"SMB Training Blog","description":"Lessons from the trading desk","publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.smbtraining.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.smbtraining.com\/blog\/#organization","name":"SMB Training","url":"https:\/\/www.smbtraining.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","contentUrl":"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2022\/07\/Logo-e1658419502954.png","width":230,"height":81,"caption":"SMB Training"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/smbcap\/","https:\/\/x.com\/smbcapital","https:\/\/www.youtube.com\/user\/smbcapital"]},{"@type":"Person","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161","name":"Bella","description":"Mike Bellafiore is a co-founder of SMB Capital, a day trading firm which takes great pride in its exceptional training program. SMB Capital is an equity prop trading desk that trades on 5th Avenue in New York City. Mr. Bellafiore is a graduate of the University of Connecticut School of Law. He has traded professionally for more than a decade.","sameAs":["https:\/\/www.smbtraining.com\/blog\/bellas-blog"],"url":"https:\/\/www.smbtraining.com\/blog\/author\/bella"}]}},"_links":{"self":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/14592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/users\/144"}],"replies":[{"embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/comments?post=14592"}],"version-history":[{"count":0,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/14592\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=14592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=14592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=14592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}