{"id":5007,"date":"2010-05-25T11:37:18","date_gmt":"2010-05-25T15:37:18","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=5007"},"modified":"2023-08-01T20:44:53","modified_gmt":"2023-08-02T00:44:53","slug":"traders-ask-why-hold","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/traders-ask-why-hold","title":{"rendered":"Traders Ask- Why Hold?"},"content":{"rendered":"<p>Yesterday I posted Important Intraday Resistance Level (BIDU). Tapetrader followed up with this excellent question:<\/p>\n<p>Bella:<\/p>\n<p>I have a question regarding holding BIDU.<\/p>\n<p>At 1pm it was the lasttime BIDU touched the 72.5 lvl. What followed was sideways consolidation for a long period of time, and some spike ups and what looks like higher highs.<br \/>\nEven though 72.5 is a solid lvl, what are the reasons for not taking off the majority of the position when the stock struggled at 72.0.<\/p>\n<p>What is the optimal amount of time and space to hold bidu, it looks like the trend gets broken several times. Is this a trade that you should simply hold for a certain timeframe (eg hold until the close, either it works out or it doesn\u2019t).<\/p>\n<p>I don\u2019t see too many reasons for holding unless you project a market selloff into the close. I\u2019m interested in your thoughts.<\/p>\n<p>Tapetrader<\/p>\n<p><strong>Bella Responds:<\/strong><\/p>\n<p>1. I covered 1\/4 of my position at 72 and 1\/4 at 71.70. I held the rest.<\/p>\n<p>2. There is no right answer to this question. It is entirely possible that the cover at 72 made sense to you, a 1\/2 cover made sense to me and we were both correct for our trading system. In fact one of our better traders didn&#8217;t cover anything at 72 or 71.70 and that made sense to him.<\/p>\n<p>3. The market was at a resistance level and there was a chance we would crack. That was one of the reasons I did not want to get flat at 71.70. When the market is as volatile as it has been you want to anticipate a bigger move and position yourself safely for such an event.<\/p>\n<p>4. BIDU was in a bullish flag pattern. And the tape showed weakness at 72.50. And there was a huge offer at 72.50. And the market was at resistance. You see consolidation and I see weakness and resistance.<\/p>\n<p>5. Most importantly, really great question! \u00a0Thxs for contributing.<\/p>\n<p>Bella<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/bidu-resistance-72.502.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-5012\" title=\"bidu resistance 72.50\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/bidu-resistance-72.502-300x231.png\" alt=\"\" width=\"300\" height=\"231\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/bidu-resistance-72.502-300x231.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/05\/bidu-resistance-72.502.png 706w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday I posted Important Intraday Resistance Level (BIDU). Tapetrader followed up with this excellent question: Bella: I have a question regarding holding BIDU. At 1pm it was the lasttime BIDU touched the 72.5 lvl. What followed was sideways consolidation for a long period of time, and some spike ups and what looks like higher highs. Even though 72.5 is a &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/traders-ask-why-hold\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":5012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[1017,30,50,1014,18,4682],"class_list":["post-5007","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-intraday-resistance","tag-prop-trading","tag-proprietary-trading","tag-resistance","tag-smb-capital","tag-traders-ask"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Traders Ask- Why Hold? | 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\/traders-ask-why-hold\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Traders Ask- Why Hold? | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Yesterday I posted Important Intraday Resistance Level (BIDU). Tapetrader followed up with this excellent question: Bella: I have a question regarding holding BIDU. At 1pm it was the lasttime BIDU touched the 72.5 lvl. What followed was sideways consolidation for a long period of time, and some spike ups and what looks like higher highs. Even though 72.5 is a ... 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