{"id":21154,"date":"2012-10-05T07:12:13","date_gmt":"2012-10-05T11:12:13","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=21154"},"modified":"2023-04-25T17:59:00","modified_gmt":"2023-04-25T21:59:00","slug":"guest-post-my-best-trade-in-10-years","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/guest-post-my-best-trade-in-10-years","title":{"rendered":"Guest Post: My Best Trade In 10 Years"},"content":{"rendered":"<p>Today I had my best trading day in 10 years of trading. It was today\u2019s One Good Trade.<\/p>\n<p>During that 10 year period I have read over 100 trading books, attended at least two dozen live trading<br \/>\nseminars and read a gazillion online posts from trading \u201cexperts\u201d. Despite all of that self-education I<br \/>\nnever took the plunge to subscribe to a professional virtual trading floor.<\/p>\n<p>Two years ago I had the good fortune to read \u201c<a href=\"http:\/\/www.amazon.com\/One-Good- Trade-Competitive-Proprietary\/dp\/0470529407\">One Good Trade<\/a>\u201d \u00a0by Mike Bellafiore of SMB Capital. It opened my<br \/>\neyes to how actual traders learn and perfect their craft. Coincident to the publication of the book the<br \/>\nmovie \u201cWall Street : Money Never Sleeps\u201d was released. I was fortunate to be invited to attend the first<br \/>\nnight with Howard Lindzon of Stocktwits and many of the traders from SMB. Just before the movie Mike<br \/>\nkindly autographed my copy of his book. I have since read it twice.<\/p>\n<p>In January of this year I decided to up my trading game and subscribed to the <a href=\"https:\/\/www.smbtraining.com\/blog\/trader-90-trader-365\">SMB University<\/a>.\u00a0As part of my subscription I can watch and\u00a0listen to the live online daily Stocks in Play review given most days by Steve Spencer. Each day Steve<br \/>\nreviews that day\u2019s stocks in the news, 2nd day plays and technical plays. I have religiously made notes on<br \/>\neach of Steve\u2019s observations each day since January.<\/p>\n<p>Today Steve\u2019s first stock in play was SRPT. At the time of the review (9am) it had already jumped 16.73<br \/>\nto 31.73 due to news that its eteplirsen drug for treating muscle disorders had shown positive results.<br \/>\nSteve\u2019s advice was to watch the 32 level. It would either fall to perhaps 28 or rise to 34. He said it was<br \/>\nhis #1 trade for the day.<\/p>\n<p>I set my alert to 32 and waited. On the open the price dipped to 29.26 and then began a slow climb<br \/>\nto just under 32. Then at 31.56 it began to rise on increasing volume to over 32. It paused there for 2<br \/>\nminutes and then the volume began to increase. I entered at 9:57am @ 32.12. As the price and volume<br \/>\nincreased I bought 6 minutes later @ 32.87. I bought again @ 33.71, 35.74, 37.17, 38.77 and 42.77. By<br \/>\n10:16 the 1 minute volume had risen to 428,000 shares.<\/p>\n<p>Each time I bought I set my initial stop loss at .20 above my current average cost so I could ride the price<br \/>\nhigher and not get taken out too soon. By the time it reached 43.12 at 10:16 I had raised my stops on<br \/>\nall the positions to 41. At 10:21 I was taken out of all my positions. In just 25 minutes I realized +15.74<br \/>\ncumulative points on the seven blocks: my best single trade in 10 years. The last trade lost 1.72.<\/p>\n<p>The lessons from today are 1) be patient and wait for the trade to develop, 2) watch volume for<br \/>\nconfirmation of price, 3) once the trade is in your favor set stops to prevent a loss, 4) understand gravity<br \/>\nwill eventually catch up to a hyperbolic move so move your stops up to capture as much of the trade as<br \/>\npossible and 5) pay close attention to what Steve Spencer highlights in the morning meeting.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/10\/srpt-zack-chart1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-21162\" title=\"srpt zack chart\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/10\/srpt-zack-chart1.png\" alt=\"\" width=\"612\" height=\"271\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/10\/srpt-zack-chart1.png 612w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/10\/srpt-zack-chart1-300x132.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2012\/10\/srpt-zack-chart1-250x110.png 250w\" sizes=\"auto, (max-width: 612px) 100vw, 612px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Days like today in SRPT do not come along that often. You must be prepared mentally and physically<br \/>\nto act quickly and with conviction. Professional sports figures make great plays only after years of daily<br \/>\npractice. Similarly, you can become a successful trader after years of daily practice and make your One<br \/>\nGood Trade.<\/p>\n<p>Zack Porter @zenprofit<\/p>\n<p>No Relevant Positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today I had my best trading day in 10 years of trading. It was today\u2019s One Good Trade. During that 10 year period I have read over 100 trading books, attended at least two dozen live trading seminars and read a gazillion online posts from trading \u201cexperts\u201d. Despite all of that self-education I never took the plunge to subscribe to &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/guest-post-my-best-trade-in-10-years\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":21162,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,1532,6],"tags":[],"class_list":["post-21154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-guest-blog","category-one-good-trade"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Guest Post: My Best Trade In 10 Years | 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\/guest-post-my-best-trade-in-10-years\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guest Post: My Best Trade In 10 Years | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Today I had my best trading day in 10 years of trading. It was today\u2019s One Good Trade. During that 10 year period I have read over 100 trading books, attended at least two dozen live trading seminars and read a gazillion online posts from trading \u201cexperts\u201d. Despite all of that self-education I never took the plunge to subscribe to ... 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