{"id":2293,"date":"2009-10-21T18:11:37","date_gmt":"2009-10-21T23:11:37","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2293"},"modified":"2009-10-21T18:11:37","modified_gmt":"2009-10-21T23:11:37","slug":"making-intraday-trading-decisions","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/making-intraday-trading-decisions","title":{"rendered":"Making Intraday Trading Decisions"},"content":{"rendered":"<p>I am frequently amazed at how many people think intraday trading is all about Reading the Tape. \u00a0I am more amazed at meeting too many who believe trading is all about reading some pretty charts. \u00a0And I am also surprised at how few intraday traders embrace intraday fundamentals. \u00a0Well that is a lot to be surprised about.<\/p>\n<p>When I make a trading decision I do not just Read the Tape. \u00a0When deciding to buy or sell I do not just consult my charts. \u00a0I never make a trading decisions without considering a stock&#8217;s intraday fundamentals. \u00a0Let me offer an example of combining all three to make the best trading decision.<\/p>\n<p>WFC reported before the Open. \u00a0Our genius, ambitious new traders offered 30.20 as an important technical level. \u00a0Noted. \u00a0WFC opened and there was a whole bunch of nothingness on the tape at 30.20. \u00a0So this is a no trade to me. \u00a0It was not above or below the technical level and the tape did not offer an edge. \u00a0Pass Bella on long 30.21 or short 30.24. or short 30.19. \u00a0Pass, pass, pass.<\/p>\n<p>But then 30.40 held the offer on high volume. \u00a0The tape gifted us a level. \u00a0Now WFC was above the technical level of 30.20. \u00a0Check technicals. \u00a0Also, the tape showed resistance at 30.40, so above this level presented tape that was bullish. \u00a0Check for Reading the Tape. \u00a0And WFC had just reported, it was a Stock In Play so check for our intraday fundamentals.<\/p>\n<p>The trade was buy WFC above 30.40 because technically this was a solid trade, the tape confirmed bullish action, and it was a Stock In Play so could run above 30.40.<\/p>\n<p>Best of luck with your trading!  Don&#8217;t forget to <a href=\"http:\/\/twitter.com\/smbcapital\">follow us<\/a> on Twitter!<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-2295\" title=\"WFC Open 10-21-09\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/10\/WFC-Open-10-21-09.bmp\" alt=\"WFC Open 10-21-09\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I am frequently amazed at how many people think intraday trading is all about Reading the Tape. \u00a0I am more amazed at meeting too many who believe trading is all about reading some pretty charts. \u00a0And I am also surprised at how few intraday traders embrace intraday fundamentals. \u00a0Well that is a lot to be surprised about. When I make &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/making-intraday-trading-decisions\" 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":[1,10],"tags":[30,18,61],"class_list":["post-2293","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-prop-trading","tag-smb-capital","tag-wfc","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>Making Intraday Trading Decisions | 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\/making-intraday-trading-decisions\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Making Intraday Trading Decisions | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I am frequently amazed at how many people think intraday trading is all about Reading the Tape. \u00a0I am more amazed at meeting too many who believe trading is all about reading some pretty charts. \u00a0And I am also surprised at how few intraday traders embrace intraday fundamentals. \u00a0Well that is a lot to be surprised about. When I make ... 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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":"Making Intraday Trading Decisions | 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\/making-intraday-trading-decisions","og_locale":"en_US","og_type":"article","og_title":"Making Intraday Trading Decisions | SMB Training","og_description":"I am frequently amazed at how many people think intraday trading is all about Reading the Tape. \u00a0I am more amazed at meeting too many who believe trading is all about reading some pretty charts. \u00a0And I am also surprised at how few intraday traders embrace intraday fundamentals. \u00a0Well that is a lot to be surprised about. 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