{"id":2657,"date":"2009-11-24T16:18:19","date_gmt":"2009-11-24T21:18:19","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=2657"},"modified":"2009-11-24T16:58:52","modified_gmt":"2009-11-24T21:58:52","slug":"the-trades-on-a-professional-intraday-proprietary-trader-ceph","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-trades-on-a-professional-intraday-proprietary-trader-ceph","title":{"rendered":"The Trades of a Professional Intraday Proprietary Trader- CEPH"},"content":{"rendered":"

Last night one our traders Senor Social Media fired off a question about the blog<\/a> I wrote.<\/p>\n

“Bella I thought you mentioned that CEPH was a long at 54.50 on the trading floor?”<\/p>\n

It was. \u00a0The trade I outlined in my blog was an A trade. \u00a0There were many other trades that I did not discuss in last night’s blog that I made and needed to make. \u00a0Some worked, some did not, which is typical. \u00a0Let’s discuss them all.<\/p>\n

1) Trade One: Short CEPH at 55 because there was an Unusual Hold on the Offer. \u00a0Do not cover unless there is a Reason2Cover. \u00a0This was a Trade2Hold.<\/p>\n

2) Trade Two: Cover CEPH at 54.50 because there was an Unusual Hold on the Bid at 54.50.<\/p>\n

3) Trade Three: Long at CEPH 54.60 after BATS bought way more than I expected at 54.55 on the bid AND THEN stepped up and held the 54.60 bid.<\/p>\n

4) Trade Four: Exit CEPH at 54.49 when the BATS buyer disappeared and the important intraday 50c level dropped.<\/p>\n

5) Trade Five: Short CEPH (I flipped my position) since it violated this important intraday level. \u00a0CEPH traded down to 33c where I covered half. \u00a0CEPH traded back above 50c, the important intraday level, and started holding the bid again. \u00a0I got flat.<\/p>\n

6) Trade Six: Short CEPH below 50c again. \u00a043c held the bid and I covered half. \u00a0CEPH came back and held the 50c bid again, the important intraday level, so I got flat.<\/p>\n

7) Trade Seven: Short CEPH below 50c as the offers were holding below this important intraday resistance level. \u00a0This was a Trade2Hold. \u00a0CEPH traded down a point from this level. \u00a0Chop!<\/p>\n

Trading is not about being right. \u00a0Your job is to do the right thing, to make trades that work when considering a similar trade made a thousand times based on your time frame. \u00a0The first two shorts below 50c did not work. \u00a0The third did and a point downmove was about to visit. \u00a0Hitting CEPH below the important intraday level is a profitable trade. \u00a0It was not if you only judged this trade on the first two attempts. \u00a0If you included all three trades you needed to make then you would correctly conclude that this is another must trade for your intraday playbook.<\/p>\n

Best of luck with your trading! Don’t forget to follow us<\/a> on Twitter!<\/p>\n

\"CEPH2\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Last night one our traders Senor Social Media fired off a question about the blog I wrote. “Bella I thought you mentioned that CEPH was a long at 54.50 on the trading floor?” It was. \u00a0The trade I outlined in my blog was an A trade. \u00a0There were many other trades that I did not discuss in last night’s blog … 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":[389,162,50,18],"class_list":["post-2657","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-ceph","tag-day-trading-blog","tag-proprietary-trading","tag-smb-capital","no-post-thumbnail"],"yoast_head":"\nThe Trades of a Professional Intraday Proprietary Trader- CEPH | 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-trades-on-a-professional-intraday-proprietary-trader-ceph\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Trades of a Professional Intraday Proprietary Trader- CEPH | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Last night one our traders Senor Social Media fired off a question about the blog I wrote. “Bella I thought you mentioned that CEPH was a long at 54.50 on the trading floor?” It was. \u00a0The trade I outlined in my blog was an A trade. \u00a0There were many other trades that I did not discuss in last night’s blog ... 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