{"id":283,"date":"2009-01-06T23:13:15","date_gmt":"2009-01-07T04:13:15","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=283"},"modified":"2023-04-10T17:06:09","modified_gmt":"2023-04-10T21:06:09","slug":"please-make-this-trade-especially-smb-traders","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/please-make-this-trade-especially-smb-traders","title":{"rendered":"Please Make This Trade&#8211;Especially SMB Traders"},"content":{"rendered":"<p>The past twelve months have been a complete roller coaster ride in the energy markets.\u00a0 We watched oil go from $50 to almost $150 and back below $50 again.\u00a0 In fact, the other day it was around $35 per barrel.\u00a0 On New Year&#8217;s Eve oil made a powerful up move on very high volume.\u00a0 There was some good money in that upmove as well as the two point sell off at the end of the day.\u00a0 But the easy money was using Wednesday&#8217;s price action to make money on Friday. In our <a href=\"https:\/\/www.smbtraining.com\/blog\/trader-90-trader-365\">AM Meeting<\/a> I highlighted 33.50 as an inflection point for USO (tracks the price of oil through a bunch of derivative contracts). \u00a0 Let me explain why 33.50 was such a critical level in the stock.<\/p>\n<p>On Wednesday,\u00a0 USO began its afternoon uptrend around 12:05PM.\u00a0 The uptrend became very steep around 2PM, which led to a pretty significant pullback to 33.\u00a0 When oil attempted to rally at the end of the day USO could not hold a bid above 33.50.The following morning USO gapped above 33.50.\u00a0 The prior day&#8217;s strength was confirmed by a gap up.\u00a0 I was looking for a safe entry point.\u00a0 Even the most novice professional trader understands that prior resistance becomes support, so I set my price alert for 33.50.\u00a0 Take a look at the chart below to see what happened when USO touched 33.50.\u00a0 SMB teaches its proprietary traders to risk one unit for a potential reward of five units.\u00a0 I was willing to risk 10 cents on this particular trade, so the risk:reward ratio ended up being around 1:20.\u00a0 Not Bad!<\/p>\n<p>I will continue to highlight trades like this as they occur.\u00a0 According to Mike it is no longer my job to simply share my bread and butter trades with our prop traders.\u00a0 He wants me to educate all aspiring traders on the internet as well \ud83d\ude42<\/p>\n<p><a title=\"USO 5-day chart\" href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/uso-chart-5-day-1-6-2009.bmp\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/01\/uso-chart-5-day-1-6-2009.bmp\" alt=\"USO 5-day chart\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The past twelve months have been a complete roller coaster ride in the energy markets.\u00a0 We watched oil go from $50 to almost $150 and back below $50 again.\u00a0 In fact, the other day it was around $35 per barrel.\u00a0 On New Year&#8217;s Eve oil made a powerful up move on very high volume.\u00a0 There was some good money in &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/please-make-this-trade-especially-smb-traders\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,8,15],"tags":[4676,138,18,209],"class_list":["post-283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-steven_spencer_steves_blogs","category-trading_theory","tag-day-trading","tag-oil","tag-smb-capital","tag-uso"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Please Make This Trade--Especially SMB Traders | 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\/please-make-this-trade-especially-smb-traders\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Please Make This Trade--Especially SMB Traders | SMB Training\" \/>\n<meta property=\"og:description\" content=\"The past twelve months have been a complete roller coaster ride in the energy markets.\u00a0 We watched oil go from $50 to almost $150 and back below $50 again.\u00a0 In fact, the other day it was around $35 per barrel.\u00a0 On New Year&#8217;s Eve oil made a powerful up move on very high volume.\u00a0 There was some good money in ... 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