{"id":464,"date":"2009-03-24T16:55:53","date_gmt":"2009-03-24T21:55:53","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=464"},"modified":"2009-03-24T16:55:53","modified_gmt":"2009-03-24T21:55:53","slug":"sometimes-its-just-that-easy","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/sometimes-its-just-that-easy","title":{"rendered":"Sometimes It&#8217;s Just That Easy"},"content":{"rendered":"<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09-close-with-levels-text.bmp\" title=\"SPY 03-24-09 Close\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09.bmp\" title=\"SPY 03-24-09\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09-full-day.bmp\" title=\"SPY 03-24-09 Full Day\"><\/a>Often intraday traders struggle understanding the difference between a Trade to Hold and a short term trade. \u00a0Most trades that we make are short term trades. \u00a0But every intraday trader needs <a href=\"http:\/\/www.smbtraining.com\">Trades to Hold<\/a>. \u00a0And you ought to have a list of these trades that are best FOR YOU. \u00a0Let me offer a suggestion of a Trade to Hold for you.<\/p>\n<p>The market has been up over 22 percent recently. \u00a0Yesterday we were up 7 percent. \u00a0Yesterday Geithner unveiled his plan to help the banks purge their toxic assets. \u00a0The next logical step is for the Street to wonder whether this plan will work. \u00a0I am not a fundamental trader, but I think we need to acknowledge that a pullback is possible considering the above. \u00a0\u00a0I remember when we first started our desk hearing guys from another firm complaining about their head trader. \u00a0They would scoff at the teaching of their head trader,&#8221;He always makes it sound so easy.&#8221; \u00a0To me these are signs of a good teacher and a bad student. \u00a0Trading is not that difficult. \u00a0We make it difficult. \u00a0We overvalue past events such that we fear executing on easy setups. \u00a0<\/p>\n<p>The Close offered us one of these easy set ups. \u00a0So I am going to point out an easy set up with the fear that all of you reading are going to carp,&#8221;Bella if it only were that easy.&#8221; \u00a0Here goes. \u00a0Today the market started a downtrend. \u00a0Between 3-3:45 into the Close SPY traded between 81.20 and 81.50. \u00a0SPY leaked above 81.50 a few times. \u00a0But the lack of time SPY held above 81.50 told us the level was not broken. \u00a0And then near the end of the trading day SPY traded below 81.20 and held below. \u00a0I hadn&#8217;t seen that into the Close yet. \u00a0And now we were broken.<\/p>\n<p>Now just like we need to wait for confirmation that the level above 81.50 is broken we need to confirm that 81.20 was violated. \u00a0Soon it was not difficult to conclude it was. \u00a0So for all of you out there looking for Trades to Hold here is one. \u00a0The trend is down, the level into the Close is violated, and we have a market that due to its past sudden rise has the chance to sell off sharply. \u00a0Start to develop short positions with SPY below 81.20. \u00a0Hold these positions until the downtrend is broken.I started a core short position in MS after SPY 81.20 was violated. \u00a0Chop! \u00a0You could have started a core short position in JPM. \u00a0That would have been a chop. \u00a0The financials have been in play of late so it makes sense to find a few to short into the Close. \u00a0WFC, JPM, GS, MS, V are worthy candidates.<\/p>\n<p>OK so start firing off the emails to me, &#8220;Oh Bella it is not that easy.&#8221; \u00a0But sometimes it really is. \u00a0 Do not overvalue past trades such that they shake your confidence starting a core position with a setup offered above. \u00a0Because these are the setups that you can crush.<\/p>\n<p>Best of luck with your trading!\u00a0<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09-close-with-levels-text.bmp\" title=\"SPY 03-24-09 Close\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09-close-with-levels-text.bmp\" alt=\"SPY 03-24-09 Close\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09-full-day.bmp\" title=\"SPY 03-24-09 Full Day\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09-full-day.bmp\" alt=\"SPY 03-24-09 Full Day\" \/><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/03\/spy-03-24-09.bmp\" title=\"SPY 03-24-09\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Often intraday traders struggle understanding the difference between a Trade to Hold and a short term trade. \u00a0Most trades that we make are short term trades. \u00a0But every intraday trader needs Trades to Hold. \u00a0And you ought to have a list of these trades that are best FOR YOU. \u00a0Let me offer a suggestion of a Trade to Hold for &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/sometimes-its-just-that-easy\" class=\"more-link\">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":[4676,30,18],"class_list":["post-464","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-prop-trading","tag-smb-capital","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>Sometimes It&#039;s Just That 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\/sometimes-its-just-that-easy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sometimes It&#039;s Just That Easy | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Often intraday traders struggle understanding the difference between a Trade to Hold and a short term trade. \u00a0Most trades that we make are short term trades. \u00a0But every intraday trader needs Trades to Hold. \u00a0And you ought to have a list of these trades that are best FOR YOU. \u00a0Let me offer a suggestion of a Trade to Hold for ... 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