{"id":3474,"date":"2010-01-21T18:08:36","date_gmt":"2010-01-21T23:08:36","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=3474"},"modified":"2010-01-21T18:08:36","modified_gmt":"2010-01-21T23:08:36","slug":"a-missed-entry","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-missed-entry","title":{"rendered":"A Missed Entry"},"content":{"rendered":"<p>All experienced traders understand the importance of a proper entry.  Opening a position at the right price is usually the difference between a large chop and a small loss.  Just ask Dov Bar about his first three entries in GS today.  All small rips because the entries weren&#8217;t that great (he might say different).  When he got a great entry when GS popped close to 168 he caught almost a six point down move.  Now that is a nice chop!<\/p>\n<p>FCX was on our radar this morning after the sharp down move through yesterday afternoon&#8217;s support level of 81.50.  After it bottomed at 80 (temporarily), I put in an order to get short at 80.80.  Based on the down move on heavy volume to 80 I was not expecting FCX to trade back above 81 and viewed 80.80 as a great risk\/reward entry price with a downside target of 78.  I was willing to risk 30 cents for potential upside of almost three dollars.<\/p>\n<p>GS was my primary trading stock so once I entered my short limit order in FCX at 80.80 I refocused on GS.  While trading GS I hit a key that canceled all of my open orders so my order to short FCX disappeared.  Someone on the desk called out that FCX was approaching its low of 80 and to my chagrin I was not short.  I could have hit it on the break below 80 but hesitated because of the missed entry at 80.80<\/p>\n<p>Shorting the break of 80 was a good risk\/reward trade.  I should have made it.  The risk was 10-15 cents and I still had a downside target of 78 so the reward was good.  Mental note to self: next time you miss the perfect entry it is ok to make trades with a good entry.<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/fcx.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/fcx-300x200.png\" alt=\"\" title=\"fcx\" width=\"300\" height=\"200\" class=\"alignnone size-medium wp-image-3478\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/fcx-300x200.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/01\/fcx.png 538w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>All experienced traders understand the importance of a proper entry. Opening a position at the right price is usually the difference between a large chop and a small loss. Just ask Dov Bar about his first three entries in GS today. All small rips because the entries weren&#8217;t that great (he might say different). When he got a great entry &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/a-missed-entry\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[507,567,566],"class_list":["post-3474","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-a","tag-entry","tag-missed","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>A Missed Entry | 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\/a-missed-entry\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Missed Entry | SMB Training\" \/>\n<meta property=\"og:description\" content=\"All experienced traders understand the importance of a proper entry. Opening a position at the right price is usually the difference between a large chop and a small loss. Just ask Dov Bar about his first three entries in GS today. All small rips because the entries weren&#8217;t that great (he might say different). When he got a great entry ... 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