{"id":4350,"date":"2010-03-29T17:04:43","date_gmt":"2010-03-29T21:04:43","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=4350"},"modified":"2010-04-06T10:28:03","modified_gmt":"2010-04-06T14:28:03","slug":"all-levels-are-not-created-equal","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/all-levels-are-not-created-equal","title":{"rendered":"All “LEVELS” ARE NOT CREATED EQUAL"},"content":{"rendered":"

During a midday lecture with our new class we discussed the trade in BA above 73.40, “a level”. \u00a0One of our new traders reasoned, “BA got above the level so I bought.” \u00a0I stood up, paced to the front of the room, and started teaching. \u00a0We don’t just buy a stock because it is above a level. \u00a0Or do we?<\/p>\n

My first question to Trader Casey who originally raised the question of how to trade this level was, “How important of a level is 73.40 in BA?” \u00a0If 73.40 is a significant level then as soon as 73.41 offer appears I would get long. \u00a0But I hear too much of this talk: \u00a0“(xyz) is a level and (abc) is a level.” \u00a0Ok great. \u00a0How important of a level?<\/p>\n

Not all levels are created equal. \u00a0You must develop a system to\u00a0differentiate\u00a0the importance of certain levels. \u00a0A 52 week high in one stock may be a buy and a 52 week high in another may be a need more information please.<\/p>\n

I have been away from the market action for a few days. \u00a0I got engaged! \u00a0And thanks for all the well wishes from our StockTwits<\/a> friends. \u00a0So I will trust Trader Casey that 73.40 was an important level. \u00a0 But this was not a must buy level FOR ME. \u00a0It was for Trader Casey which is fine. \u00a0As long as you score your trading levels and know which ones are most important so that they make sense to you.<\/p>\n

The first pass through 73.40, I observed light volume. \u00a0Initially I waited till time passed and BA remained above the level. \u00a0Check. \u00a0BA made a nice upmove near 74. \u00a0Check, check. \u00a0BA pulled back but was still above 73.40. Check, check, check. \u00a0I bought 73.66. \u00a0BA was above the level, but this was not a huge level for me so I wanted more checks in my favor.<\/p>\n

Determine which levels are most important for you. \u00a0Differentiate\u00a0your levels and adjust your trading to account for a less important level.
\n\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

During a midday lecture with our new class we discussed the trade in BA above 73.40, “a level”. \u00a0One of our new traders reasoned, “BA got above the level so I bought.” \u00a0I stood up, paced to the front of the room, and started teaching. \u00a0We don’t just buy a stock because it is above a level. \u00a0Or do we? … 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":[10],"tags":[323,162,135,30,830],"class_list":["post-4350","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-ba","tag-day-trading-blog","tag-levels","tag-prop-trading","tag-trading-levels","no-post-thumbnail"],"yoast_head":"\nAll "LEVELS" ARE NOT CREATED EQUAL | 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\/all-levels-are-not-created-equal\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"All "LEVELS" ARE NOT CREATED EQUAL | SMB Training\" \/>\n<meta property=\"og:description\" content=\"During a midday lecture with our new class we discussed the trade in BA above 73.40, “a level”. \u00a0One of our new traders reasoned, “BA got above the level so I bought.” \u00a0I stood up, paced to the front of the room, and started teaching. \u00a0We don’t just buy a stock because it is above a level. \u00a0Or do we? ... 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