![](\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2008\/11\/851226628473013mail.gif\")
<\/p>\n","protected":false},"excerpt":{"rendered":"Trading is a tough profession.\u00a0 Every day you need to figure out a way to make money.\u00a0 During the first couple of years of your trading career it is important to be in the easiest plays.\u00a0 One such play involves getting long above a recent support level in a stock.\u00a0 The more recently the level was important as support the better a trade it will be for an intraday trader.\u00a0 Also, it is a better trade if the stock has had a significant move off of the\u00a0 price level.\u00a0 Once I become aware of an important support level I will set a price alert on my platform.\u00a0 If the stock gets to that price again I will make a trade.<\/p>\n
Last week CHK was In Play because of the BP takeout rumor.\u00a0 The day after it ran up to 26 there was profit taking.\u00a0 In the afternoon CHK touched $22 and bounced 1 point.\u00a0 I set an alert on my platform the next day for $22.10.\u00a0 When CHK got to $22 I got long.\u00a0 It never traded below $21.94 (my stop was below $21.85) and popped to $23.50.\u00a0 I made a huge chop.\u00a0 One other trader on our desk who mentioned this important level in our AM meeting also made a chop.<\/p>\n
The next day I mentioned this trade in our AM Meeting.\u00a0 I was disappointed that more traders on our desk hadn’t taken advantage of this “easy money”.\u00a0 A couple of days later CHK bounced off of $22 again.\u00a0 At the end of the day when I was checking our desk’s numbers it was nice to see that over 30 traders had placed a trade in CHK.<\/p>\n
When you are a young trader who is working on developing your craft please do yourself a huge favor and don’t pass up on these great risk\/reward opportunities.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"