{"id":43535,"date":"2016-05-03T13:54:24","date_gmt":"2016-05-03T17:54:24","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=43535"},"modified":"2021-05-06T16:29:45","modified_gmt":"2021-05-06T20:29:45","slug":"put-the-trade-on-now","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/put-the-trade-on-now","title":{"rendered":"Put the trade on&#8230;&#8230;NOW"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/oUDkBonBbqs\" width=\"600\" height=\"338\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>It is that time of the month.\u00a0 Time for monthly reviews from our traders and time for me to read them.<\/p>\n<p>One developing trader wrote something that will trigger an important conversation about <a href=\"http:\/\/www.smbtraining.com\/blog\/what-is-price-action-confirmation\">spotting your best trades<\/a>.\u00a0 If you do this better this month you will see improvement with your trading.\u00a0 This developing trader wrote:<\/p>\n<blockquote><p><i><b>Decrease the amount I lose trying to anticipate setups that never trigger<\/b><\/i>\u00a0 With every good setup I had this month there was a tipping point where the trade just worked. I want to be biggest at these tipping points and minimize how much I lose anticipating these tipping points. \u00a0A few times I got hurt this month trying to force a setup that never quite triggered and took a full size loss on the trade. Trying to find a balance between getting a good price and being in a position of strength and not losing on trades that never show me a real entry<\/p><\/blockquote>\n<p>On my blackboard in my office sits a trading thought to define One Good Trade for the advanced trader.\u00a0 Thesis + News Catalyst + Price Confirmation + Fight for Price + Trade in your Niche.\u00a0 The trader above prospers when he sees price confirmation.\u00a0 As Brian Shannon of AlphaTrends made famous for trading parlance, \u201cPrice is the only thing that pays.\u201d\u00a0 For this trader, price confirmation is his trigger.<\/p>\n<p>Getting in front of the trigger does not pay for him.\u00a0 Anticipating the trigger does not pay for him.\u00a0 Said another way, seeing the trade gets him paid.<\/p>\n<p>Let\u2019s use two trading examples:<\/p>\n<p>Example 1: I think the market should sell off now (insert just about any well thought out reason) so I will get short.<\/p>\n<p>Example 2: The market has gapped down, it has broken through the low of 30 minutes of consolidation, $TICK is signaling a sell, oil is coming off, commodities are signaling sell, so now I will get short.<\/p>\n<p>Example 2 offers trader the trigger.<\/p>\n<p>It is not most important what works best for this trader for your trading.\u00a0 What is most important is you understanding the differences between your best trades and your lesser trades.\u00a0 Those patterns where you have edge and it\u2019s time for risk on.\u00a0 In this case for this trader, see it then risk on.<\/p>\n<p><b>Related Posts<\/b><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/what-is-price-action-confirmation\">What is price confirmation?<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/time-price\">Time and price<\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/die-hard-started-winning-again\">Die Hard starts winning again<\/a><\/p>\n<p>*no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is that time of the month.\u00a0 Time for monthly reviews from our traders and time for me to read them. One developing trader wrote something that will trigger an important conversation about spotting your best trades.\u00a0 If you do this better this month you will see improvement with your trading.\u00a0 This developing trader wrote: Decrease the amount I lose &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/put-the-trade-on-now\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4959,3288,55],"class_list":["post-43535","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","tag-onnow","tag-put","tag-trade","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>Put the trade on......NOW | 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\/put-the-trade-on-now\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Put the trade on......NOW | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It is that time of the month.\u00a0 Time for monthly reviews from our traders and time for me to read them. 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