{"id":44641,"date":"2016-12-13T17:49:19","date_gmt":"2016-12-13T22:49:19","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=44641"},"modified":"2016-12-13T17:49:19","modified_gmt":"2016-12-13T22:49:19","slug":"why-did-i-make-this-trade-mgm","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm","title":{"rendered":"Why did I make this trade ($MGM)?"},"content":{"rendered":"

I made a trade in MGM today, and instantly self-talked: “Uhm, why I am in this trade?”<\/p>\n

It was not a trade that I trade well.<\/p>\n

It is not a trade that fits my personality.<\/p>\n

It is not a trade that extenuates my strengths.<\/p>\n

Why? Why? Why?<\/p>\n

We make progress as traders when we stop making trades that do not work for us.<\/p>\n

In this case, it was so tempting to lay some risk into the gamers as they were reacting well and there was a substantial news catalyst behind the idea (see below).<\/p>\n

\"casino1\"<\/p>\n

Here is the trade I made:<\/p>\n

\"mgm\"<\/p>\n

The saving grace was that I did not trade the idea with size, and my stop was uber tight.<\/p>\n

But the whole thing was amateur hour for my trading.\u00a0 This idea had played out and I was playing to my weaknesses.\u00a0 It was all just a waste of my financial, intellectual and emotional capital.<\/p>\n

In short, identify and stay away from the trades that do not fit your strengths.<\/p>\n

Related posts<\/strong><\/p>\n

The setups with edge for winning traders<\/a><\/p>\n

You cannot do this and be a successful trader<\/a><\/p>\n

The trade that propelled one trader to start winning<\/a><\/p>\n

*no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

I made a trade in MGM today, and instantly self-talked: “Uhm, why I am in this trade?” It was not a trade that I trade well. It is not a trade that fits my personality. It is not a trade that extenuates my strengths. Why? Why? Why? We make progress as traders when we stop making trades that do not … Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":44644,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4676,260,4678,1035,5224,653,1354,1349,5225],"class_list":["post-44641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","tag-day-trading","tag-intraday-trading","tag-stock-trading","tag-swing-trading","tag-trader-eduation","tag-trader-training","tag-trading-coach","tag-trading-mentor","tag-training-program-for-traders"],"yoast_head":"\nWhy did I make this trade ($MGM)? | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why did I make this trade ($MGM)? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I made a trade in MGM today, and instantly self-talked: “Uhm, why I am in this trade?” It was not a trade that I trade well. It is not a trade that fits my personality. It is not a trade that extenuates my strengths. Why? Why? Why? We make progress as traders when we stop making trades that do not ... Read More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm\" \/>\n<meta property=\"og:site_name\" content=\"SMB Training Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/smbcap\/\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-13T22:49:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/12\/mgm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1023\" \/>\n\t<meta property=\"og:image:height\" content=\"986\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bella\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:site\" content=\"@smbcapital\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Bella\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm\"},\"author\":{\"name\":\"Bella\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#\/schema\/person\/80500a901d0e5ce0a27fa996bb1b9161\"},\"headline\":\"Why did I make this trade ($MGM)?\",\"datePublished\":\"2016-12-13T22:49:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm\"},\"wordCount\":206,\"publisher\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2016\/12\/mgm.jpg\",\"keywords\":[\"day trading\",\"intraday trading\",\"stock trading\",\"swing trading\",\"trader eduation\",\"trader training\",\"trading coach\",\"trading mentor\",\"training program for traders\"],\"articleSection\":[\"General Comments\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm\",\"url\":\"https:\/\/www.smbtraining.com\/blog\/why-did-i-make-this-trade-mgm\",\"name\":\"Why did I make this trade ($MGM)? 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