{"id":1496,"date":"2009-07-17T16:01:34","date_gmt":"2009-07-17T21:01:34","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1496"},"modified":"2009-07-17T16:07:35","modified_gmt":"2009-07-17T21:07:35","slug":"mos-into-the-close","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/mos-into-the-close","title":{"rendered":"MOS into the Close"},"content":{"rendered":"

It is the third day live for our new class and no one has finished over $100 as of yet. \u00a0Punks. \u00a0Basically during the midday I spend much of my time kidding with and harassing the guys who are close to this hurdle. \u00a0When one reaches $100 then many more will. \u00a0And one new trader was at $180 into the Close and then met MOS. \u00a0 Oh so close.<\/p>\n

So as I write still no one has finished the day over $100. \u00a0I am thinking about holding a mandatory film review session this Saturday as a result. \u00a0GMan is thinking about fining the class $1 for everyday they do not accomplish this goal. \u00a0All proceeds of course will go to the GMan drinking fund (I am not sure this is a legal charity so please keep this quiet).<\/p>\n

This new trader remarked that MOS was too hard into the close. \u00a0And I respectfully disagreed. \u00a0Even for a new trader. \u00a0It was just that MOS offered three excellent plays and only these three plays. \u00a0All of us (me included) who gave back some money trading MOS into the Close did so because we made trades that were not advisable. \u00a0Which three trades were excellent plays?<\/p>\n

1) Hit MOS when the negative news broke.<\/p>\n

2) Short MOS below \u00a048.75, a significant intraday level.<\/p>\n

3) Buy MOS above 49.12 after the selling pattern changed.<\/p>\n

Trade 1 would have been a chop as MOS fell 3 points quickly. \u00a0Trade 2 would not have worked as 48.65 held the bid and then MOS traded higher. \u00a0But this was still an excellent trade. \u00a0MOS was in a downtrend. \u00a0MOS offered a downside to 46. \u00a0And the significant intraday level was violated. \u00a0The trade just didn’t work.<\/p>\n

When MOS cleared 49.12 we now had a buy signal. \u00a0MOS held the 48.75 level, held above 49, and cleared some resistance at 49.12.<\/p>\n

These were the trades. \u00a0As I told that new trader who couldn’t hold enough of his gains to be the first in his class to finish above $100, MOS was a good trading stock. \u00a0MOS offered us opportunity. \u00a0That is all we can ask for as traders. \u00a0But now as traders we must review the trades that would have worked into the close. \u00a0And we must learn from the setups that did not offer us excellent risk\/reward trades.<\/p>\n

The trades above were the setups<\/a> for an intraday trader that will work. \u00a0And now this new trader and I need to improve our trading so that we stick to these setups when we see the next MOS.<\/p>\n

Off to a meeting. \u00a0Need to needle the new class for again not clearing this hurdle.<\/p>\n

Enjoy your weekend. Don’t forget to follow us on Twitter!<\/a><\/p>\n

\"MOS<\/p>\n","protected":false},"excerpt":{"rendered":"

It is the third day live for our new class and no one has finished over $100 as of yet. \u00a0Punks. \u00a0Basically during the midday I spend much of my time kidding with and harassing the guys who are close to this hurdle. \u00a0When one reaches $100 then many more will. \u00a0And one new trader was at $180 into the … 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":[],"class_list":["post-1496","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","no-post-thumbnail"],"yoast_head":"\nMOS into the Close | 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\/mos-into-the-close\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MOS into the Close | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It is the third day live for our new class and no one has finished over $100 as of yet. \u00a0Punks. \u00a0Basically during the midday I spend much of my time kidding with and harassing the guys who are close to this hurdle. \u00a0When one reaches $100 then many more will. \u00a0And one new trader was at $180 into the ... 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