{"id":30935,"date":"2013-09-06T13:43:52","date_gmt":"2013-09-06T17:43:52","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=30935"},"modified":"2023-05-23T16:57:15","modified_gmt":"2023-05-23T20:57:15","slug":"from-the-playbook-reasons2sell","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/from-the-playbook-reasons2sell","title":{"rendered":"From The PlayBook: Reasons2Sell"},"content":{"rendered":"<p>Here&#8217;s our latest excerpt from <em>The PlayBook<\/em>. It comes from Chapter 3: &#8220;The Day Knight Capital Almost Fell (A Support Play)&#8221;. The chapter begins with a question: &#8220;How Do You Know When to Sell a Winning Position?&#8221;<\/p>\n<p>Dear Mike,<\/p>\n<p>I recently read <em>One Good Trade<\/em> and found it a quality read relative to all other books I\u2019ve\u00a0read. It has been immensely helpful as I am currently full-time employed and am at a point\u00a0where I am thinking that that trading full time could be an option, provided I can become\u00a0consistently profitable and have the confidence of putting \u201cbread on the table\u201d from trading.<\/p>\n<p>&nbsp;<\/p>\n<div>\n<p>As a result of reading the book I have adopted a methodical and disciplined approach and\u00a0my results have improved as a result of this. What I\u2019m finding however is I become indecisive\u00a0when I\u2019ve had some reasonable gains on a trade and now adopt a \u201cbird in the hand\u201d\u00a0approach and take the money off the table once I am up a few percent in a trade and before there is a pullback. I understand this is the wrong approach as I am supposed to let profitable\u00a0trades run; however, I have seen many decent gains evaporate or, worse, turn into a\u00a0loss because I decided to hold. I\u2019m not sure there is a question there, but in any case would\u00a0be grateful for your views.<\/p>\n<p>@mikebellafiore<\/p>\n<p>I love how you are approaching trading pro. You are working on your game while you are\u00a0employed and being very patient and gaining valuable screen time before deciding whether\u00a0to trade pro. Too many just start, without any past trading experience, and expect to make\u00a0bank immediately. As is true of any professional discipline, you do not reach the stage of\u00a0competence until after training, concerted practice, experience, and review.\u00a0When do I know when to sell? How do I know when to cut my winners? I will give you some\u00a0highlights. Also check out The PlayBook Webinar series, where we discuss the trading concept that helps you answer these questions. That concept is Reasons2Sell.<\/p>\n<p>When you are developing your PlayBook, an archive of trades that make the most sense to\u00a0you, distinguish between Move2Move trades and Trades2Hold. An example of a Move2Move\u00a0trade is a scalp, trading for the next move in a stock. Trades2Hold are our intraday swing\u00a0trades, where we are trying to capture multiple points. With our Trades2Hold, we do not sell\u00a0until there is a Reason2Sell.<\/p>\n<p>Each trader must develop his own list of Reasons2Sell. If you spot a reason, then consider\u00a0selling. If you do not, the position is not a sale. This is true even if the position trades\u00a0against you and you give back significant open profit. Your job as a trader is to do the right\u00a0thing. Judge your trading not by your P&amp;L but whether you traded a setup well.<\/p>\n<p>Reasons2Sell examples include the following:<\/p>\n<p>\u2022 The stock breaks its uptrend<br \/>\n\u2022 Breaking news<br \/>\n\u2022 Overall market resistance<br \/>\n\u2022 Technical resistance in the stock<br \/>\n\u2022 The selling pattern dissipated<br \/>\n\u2022 Breaking news in the market<\/p>\n<p>This is not our proprietary exhaustive list of Reasons2Sell inside the SMB Foundation, our\u00a0training program, but it gives you a feel of the right thing to do with your positions. Develop\u00a0your list of Reasons2Sell and start applying them to your Trades2Hold.<\/p>\n<p>I hope that helps.<\/p>\n<p>You can be better tomorrow than you are today!<\/p>\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=1375715301&amp;sr=1-1&amp;keywords=one+good+trade\"><em>One Good Trade<\/em><\/a><\/p>\n<p><a href=\"http:\/\/http\/\/www.amazon.com\/PlayBook-Inside-Think-Professional-Trader\/dp\/0132937646\/ref=sr_1_2?s=books&amp;ie=UTF8&amp;qid=1375715301&amp;sr=1-2&amp;keywords=one+good+trade\"><em>The PlayBook<\/em><\/a><\/p>\n<p><a href=\"http:\/\/twitter.com\/mikebellafiore\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/p>\n<p>no relevant positions<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s our latest excerpt from The PlayBook. It comes from Chapter 3: &#8220;The Day Knight Capital Almost Fell (A Support Play)&#8221;. The chapter begins with a question: &#8220;How Do You Know When to Sell a Winning Position?&#8221; Dear Mike, I recently read One Good Trade and found it a quality read relative to all other books I\u2019ve\u00a0read. It has been &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/from-the-playbook-reasons2sell\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":1037,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2444,2449,4703,745,2448,2560,2451,4706,4707,1718,653,2445,1989,4712,4690,1888,207],"class_list":["post-30935","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-daytrading","tag-how-to-be-a-day-trader","tag-learn-trading","tag-playbook","tag-prop-trade","tag-reasons2sell","tag-stock-market-course","tag-stock-trading-education","tag-stock-training","tag-the-playbook","tag-trader-training","tag-trading-careers","tag-trading-course","tag-trading-courses","tag-trading-education","tag-trading-school","tag-trading-stocks","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>From The PlayBook: Reasons2Sell | 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\/from-the-playbook-reasons2sell\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"From The PlayBook: Reasons2Sell | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Here&#8217;s our latest excerpt from The PlayBook. It comes from Chapter 3: &#8220;The Day Knight Capital Almost Fell (A Support Play)&#8221;. The chapter begins with a question: &#8220;How Do You Know When to Sell a Winning Position?&#8221; Dear Mike, I recently read One Good Trade and found it a quality read relative to all other books I\u2019ve\u00a0read. It has been ... 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