{"id":22797,"date":"2013-01-05T10:58:20","date_gmt":"2013-01-05T15:58:20","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=22797"},"modified":"2013-01-05T10:59:19","modified_gmt":"2013-01-05T15:59:19","slug":"a-trade-to-master-rig","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-trade-to-master-rig","title":{"rendered":"A Trade to Master- $RIG"},"content":{"rendered":"<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/01\/RIG.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-22798\" title=\"RIG\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/01\/RIG.png\" alt=\"\" width=\"583\" height=\"428\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/01\/RIG.png 1004w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/01\/RIG-300x220.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/01\/RIG-250x183.png 250w\" sizes=\"auto, (max-width: 583px) 100vw, 583px\" \/><\/a><\/p>\n<p>One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade. \u00a0This was his Trade Management slide for the trade. \u00a0There are some lessons here.<\/p>\n<p>1) Great job being in the best stock yesterday for intraday traders, RIG. \u00a0You are only as good as the stocks you trade. \u00a0This was a stock with opportunity.<\/p>\n<p>2) The Trend Trend Trade is a powerful trade for the new trader. \u00a0This is one of the first patterns you should learn. \u00a0First work on taking as much as you can from a basic set up like this before moving to more difficult set ups.<\/p>\n<p>3) I would take issue with some of his stops, but this will come with time. \u00a0This new trader needs to do some thinking this weekend on whether he placed the appropriate stops for each trade.<\/p>\n<p>4) I love, just love, how he stayed with this trade. \u00a0It failed a few times while he was controlling his risk with stops. \u00a0But then he caught it.<\/p>\n<p>5) When RIG started working he added to his position. \u00a0This is terrific. \u00a0Add to your winning trades. \u00a0Be aggressive in Trend Trend Trades that are working for you. \u00a0Do not suffer from what I call in my next book <a href=\"http:\/\/www.amazon.com\/The-Playbook-Inside-Professional-Trader\/dp\/0132937646\/ref=sr_1_8?ie=UTF8&amp;qid=1357309553&amp;sr=8-8&amp;keywords=the+playbook\">The PlayBook<\/a>, &#8220;Trader Wuss Syndrome&#8221;. \u00a0Good traders press the trades that are working for them.<\/p>\n<p>6) Great job of reviewing your work. \u00a0Be hard on yourself and review in depth the plays that make the most sense to you and the trades that offer the most opportunity. \u00a0We build from our strengths.<\/p>\n<p>For the new, developing and underperforming traders take note of the excellent work done here by this trader.<\/p>\n<p>Mike Bellafiore<\/p>\n<p><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1357332711&amp;sr=1-1&amp;keywords=one+good+trade+mike+bellafiore\">One Good Trade<\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade. \u00a0This was his Trade Management slide for the trade. \u00a0There are some lessons here. 1) Great job being in the best stock yesterday for intraday traders, RIG. \u00a0You are only as good as the stocks you trade. \u00a0This was a stock with &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/a-trade-to-master-rig\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":22798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1990,1961,1964,1274,1718,1354,1349],"class_list":["post-22797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading-class","tag-day-trading-course","tag-learn-to-trade","tag-rig","tag-the-playbook","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>A Trade to Master- $RIG | 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\/a-trade-to-master-rig\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Trade to Master- $RIG | SMB Training\" \/>\n<meta property=\"og:description\" content=\"One of our new trainees from Thailand traded RIG yesterday and sent me a PlayBook on this trade. \u00a0This was his Trade Management slide for the trade. \u00a0There are some lessons here. 1) Great job being in the best stock yesterday for intraday traders, RIG. \u00a0You are only as good as the stocks you trade. \u00a0This was a stock with ... 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