{"id":15493,"date":"2011-11-08T10:49:25","date_gmt":"2011-11-08T15:49:25","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=15493"},"modified":"2021-05-07T11:14:58","modified_gmt":"2021-05-07T15:14:58","slug":"traders-ask-did-i-trade-this-correctly","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly","title":{"rendered":"Traders Ask: Did I trade this correctly?"},"content":{"rendered":"<p>Hi Bella<\/p>\n<p>If a stock fails a resistance level and you go short thinking it is a perfect Opening Drive Trade2Hold, but then 20 cents\u00a0later there&#8217;s a buyer holding the bid, bid drops, then comes back, you cover, right? \u00a0Can you flip from Trade2Hold to range scalping? Although, the play ends up being a perfect Trade2Hold an hour later because it failed to retest resistance. \u00a0What I am asking is when do you consider flipping from Opening Drive Trade2hold \u00a0to just scalping the ranges the stock trades in? I would have made more money with the Trade2Hold scenario, but I still made money scalping the ranges, but possibly led to overtrading.<\/p>\n<div>Your Thoughts Are Always Appreciated!<\/div>\n<div><strong>Bella<\/strong><\/div>\n<div>You are asking all the right questions!<\/div>\n<div>I would be clearer in how you are thinking about this trade.\u00a0 It is a fundamental trading error to start with with a definable trading exit and then switch this exit midtrade.\u00a0 Before you enter the trade you must consider the Opening Drive slowing and covering.\u00a0 So what is acceptable is to say I am gonna make an Opening Drive Play and if it slows, there is a rebid, then I will exit.\u00a0 What is not acceptable is to say I am in a Trade2Hold Opening Drive Play and am holding until there is a Reason2Cover (a rebid, a slowing on the tape, is not a Reason2Cover).\u00a0 And then for you to cover your Trade2Hold when you spot a rebid which is not a Reason2Cover.\u00a0 This was not the trade.\u00a0 This was not your plan.<\/div>\n<div>This may seem like a small distinction but it can make all the difference.\u00a0 You are either in a Scalp Opening Drive Play with all its specific exits or a Trade2Hold Opening Drive Play.\u00a0 These are completely separate trades with different if\/then statements.\u00a0 Their risks are different.\u00a0 Their win rates are distinct.\u00a0 Their exits if you are correct are not the same.<\/div>\n<div>The play here is an Opening Drive Play (you almost never want to start a Trade2Hold on the open because stocks do not trend on the open).\u00a0 You hold until the stock slows.\u00a0 You wait for consolidation.\u00a0 And then after consolidation below the level, you make a Trade2Hold Resistance trade.<\/div>\n<div>I hope that helps.\u00a0 Keep working on your trading game!<\/div>\n<div>Bella<\/div>\n<div><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=cm_cr_pr_product_top\">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>Hi Bella If a stock fails a resistance level and you go short thinking it is a perfect Opening Drive Trade2Hold, but then 20 cents\u00a0later there&#8217;s a buyer holding the bid, bid drops, then comes back, you cover, right? \u00a0Can you flip from Trade2Hold to range scalping? Although, the play ends up being a perfect Trade2Hold an hour later because &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\" 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],"tags":[1828,1193,653,1354,1349],"class_list":["post-15493","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-smbu","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","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>Traders Ask: Did I trade this correctly? | 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\/traders-ask-did-i-trade-this-correctly\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Ask: Did I trade this correctly? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Hi Bella If a stock fails a resistance level and you go short thinking it is a perfect Opening Drive Trade2Hold, but then 20 cents\u00a0later there&#8217;s a buyer holding the bid, bid drops, then comes back, you cover, right? \u00a0Can you flip from Trade2Hold to range scalping? Although, the play ends up being a perfect Trade2Hold an hour later because ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\" \/>\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=\"2011-11-08T15:49:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-07T15:14:58+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"Traders Ask: Did I trade this correctly?\",\"datePublished\":\"2011-11-08T15:49:25+00:00\",\"dateModified\":\"2021-05-07T15:14:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\"},\"wordCount\":407,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage\"},\"thumbnailUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"keywords\":[\"smbU\",\"trader education\",\"trader training\",\"trading coach\",\"trading mentor\"],\"articleSection\":[\"General Comments\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\",\"name\":\"Traders Ask: Did I trade this correctly? | SMB Training\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage\"},\"thumbnailUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"datePublished\":\"2011-11-08T15:49:25+00:00\",\"dateModified\":\"2021-05-07T15:14:58+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage\",\"url\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\",\"contentUrl\":\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.smbtraining.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Traders Ask: Did I trade this correctly?\"}]},{\"@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":"Traders Ask: Did I trade this correctly? | 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\/traders-ask-did-i-trade-this-correctly","og_locale":"en_US","og_type":"article","og_title":"Traders Ask: Did I trade this correctly? | SMB Training","og_description":"Hi Bella If a stock fails a resistance level and you go short thinking it is a perfect Opening Drive Trade2Hold, but then 20 cents\u00a0later there&#8217;s a buyer holding the bid, bid drops, then comes back, you cover, right? \u00a0Can you flip from Trade2Hold to range scalping? Although, the play ends up being a perfect Trade2Hold an hour later because ... Read More","og_url":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly","og_site_name":"SMB Training Blog","article_publisher":"https:\/\/www.facebook.com\/smbcap\/","article_published_time":"2011-11-08T15:49:25+00:00","article_modified_time":"2021-05-07T15:14:58+00:00","og_image":[{"url":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.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":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#article","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly"},"author":{"name":"Bella","@id":"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161"},"headline":"Traders Ask: Did I trade this correctly?","datePublished":"2011-11-08T15:49:25+00:00","dateModified":"2021-05-07T15:14:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly"},"wordCount":407,"commentCount":0,"publisher":{"@id":"https:\/\/www.smbtraining.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage"},"thumbnailUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","keywords":["smbU","trader education","trader training","trading coach","trading mentor"],"articleSection":["General Comments"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly","url":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly","name":"Traders Ask: Did I trade this correctly? | SMB Training","isPartOf":{"@id":"https:\/\/www.smbtraining.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage"},"image":{"@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage"},"thumbnailUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","datePublished":"2011-11-08T15:49:25+00:00","dateModified":"2021-05-07T15:14:58+00:00","breadcrumb":{"@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#primaryimage","url":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png","contentUrl":"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.smbtraining.com\/blog\/traders-ask-did-i-trade-this-correctly#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.smbtraining.com\/blog"},{"@type":"ListItem","position":2,"name":"Traders Ask: Did I trade this correctly?"}]},{"@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\/15493","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=15493"}],"version-history":[{"count":1,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/15493\/revisions"}],"predecessor-version":[{"id":51112,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/posts\/15493\/revisions\/51112"}],"wp:attachment":[{"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/media?parent=15493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/categories?post=15493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.smbtraining.com\/blog\/wp-json\/wp\/v2\/tags?post=15493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}