{"id":498,"date":"2009-04-08T16:54:12","date_gmt":"2009-04-08T21:54:12","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=498"},"modified":"2009-04-08T16:57:41","modified_gmt":"2009-04-08T21:57:41","slug":"time-to-make-some-bank","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/time-to-make-some-bank","title":{"rendered":"Time to Make Some Bank"},"content":{"rendered":"<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/04\/pot-04-08-09.bmp\" title=\"POT 04-08-09\"><\/a><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/04\/hig-04-08-09.bmp\" title=\"HIG 04-08-09\"><\/a>It&#8217;s earnings season. \u00a0This is our playoffs. \u00a0Living in these uncertain times the market is volatile. \u00a0Adding this fact to earnings season offers us an unusual amount of trading opportunity. \u00a0This is an excellent trading market. \u00a0And as an intraday trader there is a large check the market is about to write to you if you just act in your self-interest. \u00a0Let&#8217;s discuss.<\/p>\n<p>During earnings season our desk always starts trading too many stocks. \u00a0This is not in their self-interest. \u00a0We just exited a discussion about the danger of spreading yourself too thin. \u00a0As an intraday trader we have some huge advantages. \u00a0We must take advantage of them.<\/p>\n<p>First we can be extremely selective with what we trade. \u00a0We can find the stocks that are best for us. \u00a0During earnings season we can find one or two stocks and watch every tick. \u00a0Doing so enables us to find the stock&#8217;s true intraday levels. \u00a0For example by watching every tick in POT into the Close, we can tell that the move above 82.50 was a fake breakout. \u00a0So we exit and start over. \u00a0As intraday traders by watching every tick we can easily determine that the move above 11 in HIG on the open was not sustainable. \u00a0And we can sink our teeth into a huge short on the Open in HIG. \u00a0<\/p>\n<p>But if we are watching too many stocks, if we are not watching all the ticks in a few stocks, then we miss gathering this important information. \u00a0 When you jump into another stock in which you do not have an edge, where you have missed important ticks, you will likely just lose money. \u00a0But most importantly there is a huge opportunity cost. \u00a0You were not watching the ticks in a stock in play, when you jumped into that other stock. \u00a0If you are jumping in PRU on the open, while you are also trying to watch HIG you would have missed the clear failure above 11. \u00a0You would not have been able to load up on the short side. \u00a0<\/p>\n<p>During earnings season when you watch every tick in a few stocks there are numerous opportunities during the trading day to spot excellent risk\/reward plays. \u00a0Stocks will be temporarily mispriced which you will exploit. \u00a0True intraday levels will develop where you can establish significant positions. \u00a0And these positions often are easy plays that most mediocre traders could identify by just watching the <a href=\"http:\/\/www.smbtraining.com\">order flow<\/a>. \u00a0<\/p>\n<p>It is our playoffs but relax. \u00a0Do not try too hard. \u00a0Do not hope you are seeing levels develop. \u00a0During earnings season the levels are clear. \u00a0There are so many excellent trading opportunities that if you just wait the plays will develop. \u00a0And if you focus on the stocks that are best for you these easy plays will materialize. \u00a0<\/p>\n<p>This is our time to pad our bank accounts. \u00a0All it takes during this earnings season is to relax, wait, and pounce when clear opportunities are presented to you. \u00a0The market will serve up huge meatballs right down the middle of the plate for you to crush during this earnings season.\u00a0\u00a0But if you try too hard, if you spread yourself too thin, then you will swing and miss at this opportunity.\u00a0<\/p>\n<p>Best of luck with your trading!\u00a0Don&#8217;t forget to <a href=\"http:\/\/twitter.com\/smbcapital\">follow us on twitter<\/a>.  <\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/04\/pot-04-08-09.bmp\" title=\"POT 04-08-09\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/04\/pot-04-08-09.bmp\" alt=\"POT 04-08-09\" \/><\/a><\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/04\/hig-04-08-09.bmp\" title=\"HIG 04-08-09\"><img decoding=\"async\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2009\/04\/hig-04-08-09.bmp\" alt=\"HIG 04-08-09\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s earnings season. \u00a0This is our playoffs. \u00a0Living in these uncertain times the market is volatile. \u00a0Adding this fact to earnings season offers us an unusual amount of trading opportunity. \u00a0This is an excellent trading market. \u00a0And as an intraday trader there is a large check the market is about to write to you if you just act in your &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/time-to-make-some-bank\" 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":[4676,30,18,38],"class_list":["post-498","post","type-post","status-publish","format-standard","hentry","category-mike-bellafiore-bellas-blogs","tag-day-trading","tag-prop-trading","tag-smb-capital","tag-trading","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>Time to Make Some Bank | 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\/time-to-make-some-bank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Time to Make Some Bank | SMB Training\" \/>\n<meta property=\"og:description\" content=\"It&#8217;s earnings season. \u00a0This is our playoffs. \u00a0Living in these uncertain times the market is volatile. \u00a0Adding this fact to earnings season offers us an unusual amount of trading opportunity. \u00a0This is an excellent trading market. \u00a0And as an intraday trader there is a large check the market is about to write to you if you just act in your ... 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