{"id":23151,"date":"2013-01-15T16:17:05","date_gmt":"2013-01-15T21:17:05","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=23151"},"modified":"2013-02-24T01:40:05","modified_gmt":"2013-02-24T06:40:05","slug":"what-questions-do-you-ask-before-making-a-trade","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/what-questions-do-you-ask-before-making-a-trade","title":{"rendered":"What questions do you ask before making a trade?"},"content":{"rendered":"<div>I received this email question from one of our new female traders.<\/div>\n<div><\/div>\n<blockquote>\n<div>Yesterday I began to be really vigilant about asking myself a series of questions before each trade. I need to improve on answering each of them accurately and honestly (a goal for today), but I think the practice is hugely helpful. Is there anything you would add to this list?<\/div>\n<div>1) What is my reason for being in this stock?<\/div>\n<div>2) Is this the right entry? If not, what is?<\/div>\n<div>3) How much should I be risking before this trade proves me wrong? What is the probability of this trade?<\/div>\n<div>4) What is my target? How will I take profits?<\/div>\n<div>5) What other parties are in this trade? How would they react if X occurs?<\/div>\n<div><\/div>\n<\/blockquote>\n<div><strong>@mikebellafiore<\/strong><\/div>\n<div><\/div>\n<div>I love this idea.\u00a0 When I am considering a trade I ask myself:<\/div>\n<div><\/div>\n<div>a) Where can I get out if I am wrong?<\/div>\n<div>b) How big should I be in this position considering where I can get out?<\/div>\n<div>c) Is this trade worth my intellectual and financial capital?<\/div>\n<div>d) If the trade starts to work how can I get bigger?<\/div>\n<div>I start to visualize what I want to see the stock do for me to get bigger.<\/div>\n<div>e) Do I have to watch all the ticks in this stock or can I just let it go and find another good trading opportunity?<\/div>\n<div><\/div>\n<div>So I ask, what do you think about when in a trading position?<\/div>\n<div><\/div>\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","protected":false},"excerpt":{"rendered":"<p>I received this email question from one of our new female traders. Yesterday I began to be really vigilant about asking myself a series of questions before each trade. I need to improve on answering each of them accurately and honestly (a goal for today), but I think the practice is hugely helpful. Is there anything you would add to &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/what-questions-do-you-ask-before-making-a-trade\" 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":[10],"tags":[4690],"class_list":["post-23151","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-trading-education","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>What questions do you ask before making a trade? | 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-questions-do-you-ask-before-making-a-trade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What questions do you ask before making a trade? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I received this email question from one of our new female traders. 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