{"id":414,"date":"2009-02-26T23:07:02","date_gmt":"2009-02-27T04:07:02","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=414"},"modified":"2023-04-10T17:07:18","modified_gmt":"2023-04-10T21:07:18","slug":"wow-i-wish-they-were-all-this-easy","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/wow-i-wish-they-were-all-this-easy","title":{"rendered":"Wow&#8211;I wish they were all this easy"},"content":{"rendered":"<p>Occasionally, you come across setups where your risk is 10 cents and your reward can be multiple points.\u00a0 I usually find these trades no more than three times per month.\u00a0 These are trades that I cannot accept missing when they occur.\u00a0 I found such a trade yesterday afternoon.<\/p>\n<p>AAPL had been trending up strongly.\u00a0 It appeared to be heading to 93 dollars.\u00a0 But whenever the bid would go higher than 92.80 it would never hold.\u00a0 Offers would quickly lift in the 92.80s but as soon as the bids above 92.80 were hit they would retreat.\u00a0 One time I actually made the mistake of paying 92.88 for AAPL when the bid stepped up aggressively to 92.85.\u00a0 Within seconds the offer was at 92.80.\u00a0 This pattern repeated itself numerous times.<\/p>\n<p>I decided to short AAPL as close to 92.80 as possible.\u00a0 My trading plan was to cover 50% of my position if the bid held at 92.80 or higher.\u00a0 I would cover the other 50% if the 93 offer ever lifted.\u00a0 I was able to short 800 shares at 92.88.\u00a0 I covered most of the position within 40 cents.\u00a0 On its next down leg I got flat around 92.\u00a0 During the final ten minutes it got pounded down another point to 91.<\/p>\n<p>So now let&#8217;s talk about the easy trade.\u00a0 AAPL closed so weakly I didn&#8217;t expect it to trade up to the 92.80s today.\u00a0 But I set a price alert for 92.85 in the hopes that the seller would still be there.\u00a0 I shared the trade on the <a href=\"https:\/\/www.smbtraining.com\/blog\/trader-90-trader-365\">SMB AM Ideas Sheet<\/a>.\u00a0 As soon as my alert was triggered about one hour after the Open I got short 400 shares.\u00a0 Once I recognized the same pattern as yesterday I shorted another 400 shares.<\/p>\n<p>As you can see from the chart below the trade worked out fairly well.\u00a0 It never traded higher than 92.92 and pretty quickly dropped to around 92.\u00a0 It took several more hours for it to trade down to the prior day&#8217;s low of 89.30.\u00a0 On our desk we look to risk one unit to make five.\u00a0 Today,\u00a0 AAPL provided a risk\/reward ratio about 10 times that amount.\u00a0 If only we could find these setups every day&#8230;<\/p>\n<p><a title=\"AAPL 2-day 02-26-09\" href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/aapl-2-day-chart-9287-level.bmp\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/02\/aapl-2-day-chart-9287-level.bmp\" alt=\"AAPL 2-day 02-26-09\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Occasionally, you come across setups where your risk is 10 cents and your reward can be multiple points.\u00a0 I usually find these trades no more than three times per month.\u00a0 These are trades that I cannot accept missing when they occur.\u00a0 I found such a trade yesterday afternoon. AAPL had been trending up strongly.\u00a0 It appeared to be heading to &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/wow-i-wish-they-were-all-this-easy\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,15],"tags":[30,18,301],"class_list":["post-414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-steven_spencer_steves_blogs","category-trading_theory","tag-prop-trading","tag-smb-capital","tag-trading-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wow--I wish they were all this easy | 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\/wow-i-wish-they-were-all-this-easy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wow--I wish they were all this easy | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Occasionally, you come across setups where your risk is 10 cents and your reward can be multiple points.\u00a0 I usually find these trades no more than three times per month.\u00a0 These are trades that I cannot accept missing when they occur.\u00a0 I found such a trade yesterday afternoon. AAPL had been trending up strongly.\u00a0 It appeared to be heading to ... 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