{"id":25169,"date":"2013-03-13T20:58:51","date_gmt":"2013-03-14T00:58:51","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=25169"},"modified":"2013-03-14T10:23:37","modified_gmt":"2013-03-14T14:23:37","slug":"the-wicks-win-wag","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-wicks-win-wag","title":{"rendered":"The Wicks Win ($WAG)"},"content":{"rendered":"<p>One thing I always try and remember when running a firm is this: trading is not very easy. The margin of error can be slight between great trade and <a href=\"http:\/\/www.smbtraining.com\/blog\/stopped-out-is-not-the-end-of-the-trade\">stopped out<\/a>. The trade below is a spot on example.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-25170\" title=\"wicks\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks.jpg\" alt=\"\" width=\"616\" height=\"460\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks.jpg 1027w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks-300x223.jpg 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks-1024x763.jpg 1024w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks-250x186.jpg 250w\" sizes=\"auto, (max-width: 616px) 100vw, 616px\" \/><\/a><\/p>\n<p style=\"text-align: left;\">I love how this trader keeps a PlayBook and then has taken the time to ferret out A+ trades from his<a href=\"http:\/\/www.amazon.com\/Playbook-Inside-Think-Professional-Trader\/dp\/0132937646\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1363006384&amp;sr=1-1&amp;keywords=the+playbook+mike+bellafiore\"> PlayBook<\/a>. It is terrific that he spots one of his favorite setups today in WAG. It is good trading that he places this in real-time. But the wicks got him. It happens. It can be sooooo frustrating.<\/p>\n<p style=\"text-align: left;\">I will offer a rule to perhaps help against a future stop out in a setup like WAG, but I do so not pretending that trading is easy. While we can make a teaching point here we should be respectful of this game and not Monday AM quarterback this setup into Trader Disneyland of all chops, in all trades, on all days.<\/p>\n<p style=\"text-align: left;\">If you love a setup, then give it more chances to work. In the example above, if WAG failed to hold below your stop level, <em>with time and volume<\/em>, you can <a href=\"http:\/\/www.smbtraining.com\/blog\/getting-back-in\">consider reentering<\/a>. As a trader learn to spot the difference between stop out wicks and the failing of a support level. This takes experience and real-time reps. When I love a level I will reenter, even after stopped out, more often than ordinary plays. I might give this 42 level 3 stop outs before moving on, or determining a safer and cleaner entry.<\/p>\n<p style=\"text-align: left;\">Tomorrow we can be better than today!<\/p>\n<p>Mike Bellafiore<\/p>\n<p><em><a href=\"http:\/\/www.amazon.com\/The-Playbook-Inside-Professional-Trader\/dp\/0132937646\/ref=sr_1_1?ie=UTF8&amp;qid=1362680637&amp;sr=8-1&amp;keywords=the+playbook+mike+bellafiore\">The PlayBook<\/a><\/em><\/p>\n<p><em><a href=\"http:\/\/www.amazon.com\/One-Good-Trade-Competitive-Proprietary\/dp\/0470529407\/ref=sr_1_1?s=books&amp;ie=UTF8&amp;qid=1362681466&amp;sr=1-1&amp;keywords=one+good+trade\">One Good Trade<\/a><\/em><\/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 thing I always try and remember when running a firm is this: trading is not very easy. The margin of error can be slight between great trade and stopped out. The trade below is a spot on example. I love how this trader keeps a PlayBook and then has taken the time to ferret out A+ trades from his &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-wicks-win-wag\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":25170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[397,1566,766],"class_list":["post-25169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-wag","tag-wicks","tag-win"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Wicks Win ($WAG) | 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\/the-wicks-win-wag\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Wicks Win ($WAG) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"One thing I always try and remember when running a firm is this: trading is not very easy. The margin of error can be slight between great trade and stopped out. The trade below is a spot on example. I love how this trader keeps a PlayBook and then has taken the time to ferret out A+ trades from his ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/the-wicks-win-wag\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-14T00:58:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2013-03-14T14:23:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2013\/03\/wicks.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1027\" \/>\n\t<meta property=\"og:image:height\" content=\"766\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta 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