{"id":16302,"date":"2012-01-05T22:37:23","date_gmt":"2012-01-06T03:37:23","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=16302"},"modified":"2012-01-05T21:42:48","modified_gmt":"2012-01-06T02:42:48","slug":"what-is-your-move-on-trading-rule","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/what-is-your-move-on-trading-rule","title":{"rendered":"What is your “move on” trading rule?"},"content":{"rendered":"

I received this review from a mentee after the close:<\/p>\n

Positives:
\ntraded well with the market. basically didn\u2019t get short other than in-play stocks at the Open, didn\u2019t have a short trade after 10:15 when the market established a clear uptrend. would add scalping lots to take advantage of small market leg-ups.
\ngood comeback after being down 120 on the Open
\nheld my trades2holds for good moves, namely BKS and MTG
\nslowed it down around 2pm knowing it was worst time period, kept the bulk of my profits and I don\u2019t remember a no-brainer trade that I shouldn\u2019t have missed<\/p><\/blockquote>\n

Negatives:
\nstubbornly traded that STX the same way, over and over… traded my bias, got too big without a pivot or a clear buyer on the tape, pressure myself to \u2018guess\u2019 my stops and place them too tight…. make the spread over and over and over again. revenge traded it, didn\u2019t let it trade out and think over my plan.
\nhad a godawful open, the tape was just terrible and I wasn\u2019t internalizing it and making the proper adjustments<\/p>\n

Should I even force my pre-market ideas on a day like this? Today, every retailer reported guidance, BKS tanked, these random biotechs were popping, lotta stuff in play, why not be in \u201csurf the radar\u201d mode for trades? I probably missed some solid trades because I kept forcing that STX. I guess before all those stocks had fresh news, I saw STX move afterhours the prior day and had mentally committed to trading it the next day and pressing my ideas if certain scenarios developed.<\/p><\/blockquote>\n

I responded:<\/p>\n

ok lets develop a rule for this
\nsend me your rule for what to do next time in the same situation
\nwhat gets you to move on?
\nwhat get you to make a clear adjustment?
\nand then I will share how I attack this issue.<\/p><\/blockquote>\n

So I ask: what gets you to move on? Do you move on or stay with the stock and just make an adjustment to how you will trade it going forward?<\/p>\n

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

I received this review from a mentee after the close: Positives: traded well with the market. basically didn\u2019t get short other than in-play stocks at the Open, didn\u2019t have a short trade after 10:15 when the market established a clear uptrend. would add scalping lots to take advantage of small market leg-ups. good comeback after being down 120 on 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":[10],"tags":[30,1193,653,1354,1349],"class_list":["post-16302","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-prop-trading","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","no-post-thumbnail"],"yoast_head":"\nWhat is your "move on" trading rule? | 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\/what-is-your-move-on-trading-rule\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is your "move on" trading rule? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I received this review from a mentee after the close: Positives: traded well with the market. basically didn\u2019t get short other than in-play stocks at the Open, didn\u2019t have a short trade after 10:15 when the market established a clear uptrend. would add scalping lots to take advantage of small market leg-ups. good comeback after being down 120 on the ... 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