{"id":15122,"date":"2011-10-21T10:45:44","date_gmt":"2011-10-21T14:45:44","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=15122"},"modified":"2021-05-07T11:16:15","modified_gmt":"2021-05-07T15:16:15","slug":"where-would-you-have-sold","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/where-would-you-have-sold","title":{"rendered":"Where would you have sold?"},"content":{"rendered":"<div>I received this email last night about an excellent risk\/reward opportunity in PM.\u00a0 The SMB Reader below is asking all the right questions.\u00a0 But I ask you for a fun exercise.\u00a0 Where would you have sold?<\/div>\n<blockquote>\n<div>Hello mr. Bellafiore,<\/div>\n<div>Thank you very much for sharing your trades and ideas in SMB blog. I am reading it every day and it helped me a lot on my way in becoming a trader, as well as your book.<\/div>\n<div>I am not sure, that my question is worth to be published in the blog, so I am writing it to you directly.<\/div>\n<div>Yesterday I was trading PM. (the screenshot attached)<\/div>\n<div>The stock had earnings and on premkt it was trading in a fresh area, so i chose it as my primary stock for the open.<\/div>\n<div>I planned to set up a trade to hold in it on the open and hold it to the end of the day, or unless it hits my target $69.<\/div>\n<div>On the open it started to pull back (no real selling or massive profit taking), forming one of my favorite setups &#8211; pullback after the gap up.<\/div>\n<div>It turned back up and buyers started to hold the bid higher.<\/div>\n<div>I bought 2 lots at 67.80 when the seller at 79 lifted and set the initial stop at 67.66.<\/div>\n<div>I sold 1 lot at my first target which was the HOD.<\/div>\n<div>It was really difficult to read the tape there &#8211; PM was very choppy, so i decided to manage this position on chart.<\/div>\n<div>I decided to close it when i saw PM having problems again in that 68.60s area and a momentum divergence as a confirmation.<\/div>\n<div>That was a very difficult trade for me and i am not sure that I was managing it properly.<\/div>\n<div>My question is &#8211; was it a really good reason to close the position there??<\/div>\n<div>What is the better way to manage trades to hold in stocks with deep pullbacks, according to your experience? I mean is it really worth holding the core in such cases or simple reentering pays better?<\/div>\n<div>I hope my e-mail didn&#8217;t take much of your time. And sorry if I made some mistakes, english is not my first language.\u00a0<img decoding=\"async\" src=\"https:\/\/mail.google.com\/mail\/e\/gtalk\/338\" alt=\"\" \/><\/div>\n<div>PS. I was really happy to see your book in russian, thanks for that.<img decoding=\"async\" src=\"https:\/\/mail.google.com\/mail\/e\/gtalk\/328\" alt=\"\" \/><\/div>\n<div><\/div>\n<\/blockquote>\n<div><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/10\/pm.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-15136\" title=\"pm\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/10\/pm-300x186.png\" alt=\"\" width=\"300\" height=\"186\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/10\/pm-300x186.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/10\/pm-1023x637.png 1023w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2011\/10\/pm.png 1249w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/div>\n<div>Bella<\/div>\n<div><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?ie=UTF8&amp;qid=1319137034&amp;sr=8-1\">One Good Trade<\/a><\/div>\n<p><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>I received this email last night about an excellent risk\/reward opportunity in PM.\u00a0 The SMB Reader below is asking all the right questions.\u00a0 But I ask you for a fun exercise.\u00a0 Where would you have sold? Hello mr. Bellafiore, Thank you very much for sharing your trades and ideas in SMB blog. I am reading it every day and it &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/where-would-you-have-sold\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":15136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4674,1828,1193,653,1354,1349],"class_list":["post-15122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-smbu","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Where would you have sold? | 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\/where-would-you-have-sold\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where would you have sold? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I received this email last night about an excellent risk\/reward opportunity in PM.\u00a0 The SMB Reader below is asking all the right questions.\u00a0 But I ask you for a fun exercise.\u00a0 Where would you have sold? 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