{"id":51056,"date":"2021-05-07T10:59:01","date_gmt":"2021-05-07T14:59:01","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=51056"},"modified":"2023-03-31T10:22:56","modified_gmt":"2023-03-31T14:22:56","slug":"you-are-trading-better-than-you-think-2","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/you-are-trading-better-than-you-think-2","title":{"rendered":"How a firm prop trader is trading better than he thinks"},"content":{"rendered":"

In this video, see how a firm prop trader is trading better than he thinks and why this is important to recognize. A SMB trader shares in step-by-step detail a multi-day trade in GameStop, with an additional lesson of the importance in giving yourself credit for what you are doing well.<\/p>\nView Video Transcript<\/strong><\/span>

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in this video see how a firm prop trader<\/div>\n<\/div>\n<\/div>\n
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is trading better than he thinks<\/div>\n<\/div>\n<\/div>\n
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and why this is important to recognize<\/div>\n<\/div>\n<\/div>\n
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hi i’m mike bella fury co-founder of smb<\/div>\n<\/div>\n<\/div>\n
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capital and we’re a proprietary trading<\/div>\n<\/div>\n<\/div>\n
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firm located in midtown manhattan<\/div>\n<\/div>\n<\/div>\n
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and i’m also the author of the trading<\/div>\n<\/div>\n<\/div>\n
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classic one good trade and the playbook<\/div>\n<\/div>\n<\/div>\n
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in this video a firm prop trader shares<\/div>\n<\/div>\n<\/div>\n
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in step-by-step detail a multi-day trade<\/div>\n<\/div>\n<\/div>\n
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and gamestop<\/div>\n<\/div>\n<\/div>\n
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with an additional lesson of the<\/div>\n<\/div>\n<\/div>\n
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importance<\/div>\n<\/div>\n<\/div>\n
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in giving yourself credit for what you<\/div>\n<\/div>\n<\/div>\n
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are doing well<\/div>\n<\/div>\n<\/div>\n
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let’s get to work on sharing these<\/div>\n<\/div>\n<\/div>\n
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important trading lessons so you<\/div>\n<\/div>\n<\/div>\n
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can grow your trading account<\/div>\n<\/div>\n<\/div>\n
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today i’m going to be going over a<\/div>\n<\/div>\n<\/div>\n
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multi-day<\/div>\n<\/div>\n<\/div>\n
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backside pop play and this is going to<\/div>\n<\/div>\n<\/div>\n
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be in gme this works well in<\/div>\n<\/div>\n<\/div>\n
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quite a few names but this actually sets<\/div>\n<\/div>\n<\/div>\n
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up quite well in gme<\/div>\n<\/div>\n<\/div>\n
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on multiple occasions as i’m going to go<\/div>\n<\/div>\n<\/div>\n
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through in<\/div>\n<\/div>\n<\/div>\n
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a lot of these slides okay as far as<\/div>\n<\/div>\n<\/div>\n
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fundamentals<\/div>\n<\/div>\n<\/div>\n
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i think um over the past year we’ve all<\/div>\n<\/div>\n<\/div>\n
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learned quite a bit about gme<\/div>\n<\/div>\n<\/div>\n
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um given what’s what it’s done so<\/div>\n<\/div>\n<\/div>\n
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consumer cyclical<\/div>\n<\/div>\n<\/div>\n
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special realty company and they sell<\/div>\n<\/div>\n<\/div>\n
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games entertainment products<\/div>\n<\/div>\n<\/div>\n
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um through its online and in-person<\/div>\n<\/div>\n<\/div>\n
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stores all across the united states<\/div>\n<\/div>\n<\/div>\n
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canada australia and europe<\/div>\n<\/div>\n<\/div>\n
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and for this particular play this is<\/div>\n<\/div>\n<\/div>\n
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actually going to be they’re actually<\/div>\n<\/div>\n<\/div>\n
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going to have a catalyst<\/div>\n<\/div>\n<\/div>\n
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they announced in after hours the<\/div>\n<\/div>\n<\/div>\n
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previous day that they<\/div>\n<\/div>\n<\/div>\n
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had filled their atm offering program<\/div>\n<\/div>\n<\/div>\n
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that they had announced a couple weeks<\/div>\n<\/div>\n<\/div>\n
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prior<\/div>\n<\/div>\n<\/div>\n
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average daily volume 26 million<\/div>\n<\/div>\n<\/div>\n
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atr which is important in this is 19.9<\/div>\n<\/div>\n<\/div>\n
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almost 20.<\/div>\n<\/div>\n<\/div>\n
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54 share float which is quite small<\/div>\n<\/div>\n<\/div>\n
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given<\/div>\n<\/div>\n<\/div>\n
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the price of this this name quite a high<\/div>\n<\/div>\n<\/div>\n
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institutional ownership<\/div>\n<\/div>\n<\/div>\n
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as well as short float which is still<\/div>\n<\/div>\n<\/div>\n
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relatively high not as high as it once<\/div>\n<\/div>\n<\/div>\n
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was but<\/div>\n<\/div>\n<\/div>\n
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still kind of high given what kind of<\/div>\n<\/div>\n<\/div>\n
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name it is<\/div>\n<\/div>\n<\/div>\n
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good to make a note of what arvol was<\/div>\n<\/div>\n<\/div>\n
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good to make note of what the overall<\/div>\n<\/div>\n<\/div>\n
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vix was<\/div>\n<\/div>\n<\/div>\n
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for your playbooks yes i actually have<\/div>\n<\/div>\n<\/div>\n
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the vix<\/div>\n<\/div>\n<\/div>\n
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on a slide coming up which should be<\/div>\n<\/div>\n<\/div>\n
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like two slides<\/div>\n<\/div>\n<\/div>\n
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and i’ll talk about that in a second um<\/div>\n<\/div>\n<\/div>\n
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so spy<\/div>\n<\/div>\n<\/div>\n
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currently in a 30 day uptrend uh coming<\/div>\n<\/div>\n<\/div>\n
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back into its previous all-time highs<\/div>\n<\/div>\n<\/div>\n
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during this play which kind of has a<\/div>\n<\/div>\n<\/div>\n
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couple inside days<\/div>\n<\/div>\n<\/div>\n
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right at all-time highs creating a<\/div>\n<\/div>\n<\/div>\n
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really tight range<\/div>\n<\/div>\n<\/div>\n
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which is important to note just to keep<\/div>\n<\/div>\n<\/div>\n
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on side watch just if this does break<\/div>\n<\/div>\n<\/div>\n
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out and has an expansive move it can<\/div>\n<\/div>\n<\/div>\n
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water down some kind of outside place if<\/div>\n<\/div>\n<\/div>\n
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you’re looking<\/div>\n<\/div>\n<\/div>\n
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against kind of the overall trend of<\/div>\n<\/div>\n<\/div>\n
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what spy is doing<\/div>\n<\/div>\n<\/div>\n
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and then as bella mentioned vixx we have<\/div>\n<\/div>\n<\/div>\n
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seen a recent shift<\/div>\n<\/div>\n<\/div>\n
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in vix it’s a 30-day downtrend and it’s<\/div>\n<\/div>\n<\/div>\n
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coming off quite a bit<\/div>\n<\/div>\n<\/div>\n
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and after talking to a lot of traders<\/div>\n<\/div>\n<\/div>\n
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inside of our firm as well as dr s<\/div>\n<\/div>\n<\/div>\n
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has mentioned this multiple times is how<\/div>\n<\/div>\n<\/div>\n
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to kind of adjust<\/div>\n<\/div>\n<\/div>\n
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to lower vix markets or<\/div>\n<\/div>\n<\/div>\n
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just changing fix overall is really<\/div>\n<\/div>\n<\/div>\n
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trying to change<\/div>\n<\/div>\n<\/div>\n
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your overall time horizons and how<\/div>\n<\/div>\n<\/div>\n
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you’re managing trades<\/div>\n<\/div>\n<\/div>\n
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and this plays right into this so<\/div>\n<\/div>\n<\/div>\n
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recently we’ve seen<\/div>\n<\/div>\n<\/div>\n
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larger term moves work a little bit<\/div>\n<\/div>\n<\/div>\n
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better with kind of a wider stop and<\/div>\n<\/div>\n<\/div>\n
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looking for bigger picture moves instead<\/div>\n<\/div>\n<\/div>\n
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of such short<\/div>\n<\/div>\n<\/div>\n
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drastic moves with the lower vix which<\/div>\n<\/div>\n<\/div>\n
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we’re not going to going to get<\/div>\n<\/div>\n<\/div>\n
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as much so that plays a really important<\/div>\n<\/div>\n<\/div>\n
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part in this overall trade<\/div>\n<\/div>\n<\/div>\n
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and understanding how a lot of the<\/div>\n<\/div>\n<\/div>\n
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trades in the current market set are<\/div>\n<\/div>\n<\/div>\n
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working<\/div>\n<\/div>\n<\/div>\n
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so long term technicals obviously we had<\/div>\n<\/div>\n<\/div>\n
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this really large run up in gme<\/div>\n<\/div>\n<\/div>\n
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and then the secondary bounce which<\/div>\n<\/div>\n<\/div>\n
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ended up coming off<\/div>\n<\/div>\n<\/div>\n
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after that big flush day rolling over<\/div>\n<\/div>\n<\/div>\n
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and then a secondary bounce<\/div>\n<\/div>\n<\/div>\n
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after we got these earnings back into<\/div>\n<\/div>\n<\/div>\n
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this kind of 200 range<\/div>\n<\/div>\n<\/div>\n
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which is going to be this key level for<\/div>\n<\/div>\n<\/div>\n
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this play a really important note<\/div>\n<\/div>\n<\/div>\n
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that i was going to get into is these<\/div>\n<\/div>\n<\/div>\n
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multi-day backside pop plays<\/div>\n<\/div>\n<\/div>\n
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which as you can see anytime it gets<\/div>\n<\/div>\n<\/div>\n
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extended or<\/div>\n<\/div>\n<\/div>\n
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has an expensive expansive move to the<\/div>\n<\/div>\n<\/div>\n
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upside<\/div>\n<\/div>\n<\/div>\n
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such as this day this big move<\/div>\n<\/div>\n<\/div>\n
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after earnings you see that it kind of<\/div>\n<\/div>\n<\/div>\n
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trails off for at least the next day<\/div>\n<\/div>\n<\/div>\n
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or the next couple days like this<\/div>\n<\/div>\n<\/div>\n
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which is kind of what we’re going to be<\/div>\n<\/div>\n<\/div>\n
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seeing so we’re gonna see if we can get<\/div>\n<\/div>\n<\/div>\n
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kind of a repeat of history of<\/div>\n<\/div>\n<\/div>\n
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if this name is going to continue acting<\/div>\n<\/div>\n<\/div>\n
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the same as it does<\/div>\n<\/div>\n<\/div>\n
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whenever it pops back into overhead<\/div>\n<\/div>\n<\/div>\n
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resistance fading for the next couple<\/div>\n<\/div>\n<\/div>\n
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days or at least for this<\/div>\n<\/div>\n<\/div>\n
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current day which is what this trade<\/div>\n<\/div>\n<\/div>\n
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kind of takes advantage of<\/div>\n<\/div>\n<\/div>\n
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if you want to learn three more real<\/div>\n<\/div>\n<\/div>\n
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world setups that our traders use<\/div>\n<\/div>\n<\/div>\n
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including the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven<\/div>\n<\/div>\n<\/div>\n
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figure big money earner check out the<\/div>\n<\/div>\n<\/div>\n
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free webinar that we’re currently<\/div>\n<\/div>\n<\/div>\n
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running<\/div>\n<\/div>\n<\/div>\n
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just go ahead and click the link that<\/div>\n<\/div>\n<\/div>\n
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should be appearing now<\/div>\n<\/div>\n<\/div>\n
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at the top right hand corner of your<\/div>\n<\/div>\n<\/div>\n
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screen that will open up the free<\/div>\n<\/div>\n<\/div>\n
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registration page in a new window so<\/div>\n<\/div>\n<\/div>\n
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don’t worry<\/div>\n<\/div>\n<\/div>\n
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you won’t lose this video you can also<\/div>\n<\/div>\n<\/div>\n
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visit<\/div>\n<\/div>\n<\/div>\n
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tradingworkshop.com to register for this<\/div>\n<\/div>\n<\/div>\n
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free intensive workshop<\/div>\n<\/div>\n<\/div>\n
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you’re going to learn more in a couple<\/div>\n<\/div>\n<\/div>\n
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of hours from this trading workshop<\/div>\n<\/div>\n<\/div>\n
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than from years of online education it’s<\/div>\n<\/div>\n<\/div>\n
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a multi-day<\/div>\n<\/div>\n<\/div>\n
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this is what this expansive pop looks<\/div>\n<\/div>\n<\/div>\n
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like on the hourly chart<\/div>\n<\/div>\n<\/div>\n
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so we see we get like almost three atr<\/div>\n<\/div>\n<\/div>\n
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move from this low to this high<\/div>\n<\/div>\n<\/div>\n
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and it’s gapping right back into this<\/div>\n<\/div>\n<\/div>\n
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previous day<\/div>\n<\/div>\n<\/div>\n
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previous consolidation area which kind<\/div>\n<\/div>\n<\/div>\n
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of gives you a buffer<\/div>\n<\/div>\n<\/div>\n
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uh being able to play and so we can see<\/div>\n<\/div>\n<\/div>\n
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we take out these<\/div>\n<\/div>\n<\/div>\n
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two previous highs which kind of stops<\/div>\n<\/div>\n<\/div>\n
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out any longer term<\/div>\n<\/div>\n<\/div>\n
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shorts that we’re trying to take<\/div>\n<\/div>\n<\/div>\n
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advantage of these moves and kind of<\/div>\n<\/div>\n<\/div>\n
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resets the whole playing field<\/div>\n<\/div>\n<\/div>\n
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which is quite nice and makes it a<\/div>\n<\/div>\n<\/div>\n
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little bit easier to trade at times<\/div>\n<\/div>\n<\/div>\n
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and not as crowded it gives<\/div>\n<\/div>\n<\/div>\n
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some cleaner moves since we are<\/div>\n<\/div>\n<\/div>\n
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expanding out of the range the previous<\/div>\n<\/div>\n<\/div>\n
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day that we had<\/div>\n<\/div>\n<\/div>\n
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was extremely strong unable to break<\/div>\n<\/div>\n<\/div>\n
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down b-womp<\/div>\n<\/div>\n<\/div>\n
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uh on the open and this one held v-off<\/div>\n<\/div>\n<\/div>\n
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really well<\/div>\n<\/div>\n<\/div>\n
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curling up and closing upper quarter of<\/div>\n<\/div>\n<\/div>\n
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the<\/div>\n<\/div>\n<\/div>\n
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entire day’s range as i mentioned a<\/div>\n<\/div>\n<\/div>\n
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three atr move from the fire made low<\/div>\n<\/div>\n<\/div>\n
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and then this is whenever we get the<\/div>\n<\/div>\n<\/div>\n
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news after hours<\/div>\n<\/div>\n<\/div>\n
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of the atm getting filled which is<\/div>\n<\/div>\n<\/div>\n
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actually quite a big catalyst<\/div>\n<\/div>\n<\/div>\n
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given a lot of people tried to play this<\/div>\n<\/div>\n<\/div>\n
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to the short side whenever that catalyst<\/div>\n<\/div>\n<\/div>\n
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was announced<\/div>\n<\/div>\n<\/div>\n
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so them announcing that this gets filled<\/div>\n<\/div>\n<\/div>\n
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gives it an expansive push<\/div>\n<\/div>\n<\/div>\n
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after we had already run up two days<\/div>\n<\/div>\n<\/div>\n
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back into a previous range<\/div>\n<\/div>\n<\/div>\n
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and we set a pretty aggressive high um<\/div>\n<\/div>\n<\/div>\n
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early in the after hours<\/div>\n<\/div>\n<\/div>\n
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people might not understand this at home<\/div>\n<\/div>\n<\/div>\n
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why were they trying to short<\/div>\n<\/div>\n<\/div>\n
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after the announcement so the<\/div>\n<\/div>\n<\/div>\n
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announcement of the atm<\/div>\n<\/div>\n<\/div>\n
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which just adds shares to the float it’s<\/div>\n<\/div>\n<\/div>\n
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the company’s selling to<\/div>\n<\/div>\n<\/div>\n
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help them financially make it through<\/div>\n<\/div>\n<\/div>\n
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whatever hardships or whatever cost they<\/div>\n<\/div>\n<\/div>\n
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do have so they’re basically selling<\/div>\n<\/div>\n<\/div>\n
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into<\/div>\n<\/div>\n<\/div>\n
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the current market price and the atm is<\/div>\n<\/div>\n<\/div>\n
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you can sell it any current market price<\/div>\n<\/div>\n<\/div>\n
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that you do have<\/div>\n<\/div>\n<\/div>\n
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so it just adds supply to an already<\/div>\n<\/div>\n<\/div>\n
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overly supplied chart which in theory<\/div>\n<\/div>\n<\/div>\n
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would make it go down easier<\/div>\n<\/div>\n<\/div>\n
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so it should have went down but it<\/div>\n<\/div>\n<\/div>\n
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didn’t correct<\/div>\n<\/div>\n<\/div>\n
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and the shorts got run over at least for<\/div>\n<\/div>\n<\/div>\n
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the short<\/div>\n<\/div>\n<\/div>\n
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temporarily yeah and then them<\/div>\n<\/div>\n<\/div>\n
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announcing the<\/div>\n<\/div>\n<\/div>\n
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atm has been filled that kind of lifts<\/div>\n<\/div>\n<\/div>\n
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that extra supply out of the market<\/div>\n<\/div>\n<\/div>\n
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which is why i<\/div>\n<\/div>\n<\/div>\n
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kind of got that positive reaction<\/div>\n<\/div>\n<\/div>\n
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immediately back<\/div>\n<\/div>\n<\/div>\n
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in such an expensive move so pre-market<\/div>\n<\/div>\n<\/div>\n
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variables<\/div>\n<\/div>\n<\/div>\n
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we just touched on the atm news the 198<\/div>\n<\/div>\n<\/div>\n
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after hours high was set and it was sold<\/div>\n<\/div>\n<\/div>\n
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really hard<\/div>\n<\/div>\n<\/div>\n
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i don’t know if you can see this on this<\/div>\n<\/div>\n<\/div>\n
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chart sold really hard back<\/div>\n<\/div>\n<\/div>\n
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all the way back into these 180s range<\/div>\n<\/div>\n<\/div>\n
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um so that’s pretty aggressive high set<\/div>\n<\/div>\n<\/div>\n
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especially with how high we do come off<\/div>\n<\/div>\n<\/div>\n
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or how hard we do come off and then<\/div>\n<\/div>\n<\/div>\n
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we’re we opening flat a lot of times<\/div>\n<\/div>\n<\/div>\n
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you’ll see with<\/div>\n<\/div>\n<\/div>\n
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like gme or other kind of heavy catalyst<\/div>\n<\/div>\n<\/div>\n
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driven<\/div>\n<\/div>\n<\/div>\n
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events that do have a lot of shorts you<\/div>\n<\/div>\n<\/div>\n
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will see<\/div>\n<\/div>\n<\/div>\n
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a gap up the next 4 a.m open<\/div>\n<\/div>\n<\/div>\n
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which we didn’t see at this on this<\/div>\n<\/div>\n<\/div>\n
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occasion<\/div>\n<\/div>\n<\/div>\n
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and then in pre-market going into the<\/div>\n<\/div>\n<\/div>\n
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open we can see that it was never<\/div>\n<\/div>\n<\/div>\n
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touched<\/div>\n<\/div>\n<\/div>\n
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and so that kind of sets the tone at<\/div>\n<\/div>\n<\/div>\n
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\n
that 198 high<\/div>\n<\/div>\n<\/div>\n
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\n
is going to kind of be the inflection<\/div>\n<\/div>\n<\/div>\n
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point<\/div>\n<\/div>\n<\/div>\n
\n
\n
for the day to see if we can either a<\/div>\n<\/div>\n<\/div>\n
\n
\n
retest that or if it holds<\/div>\n<\/div>\n<\/div>\n
\n
\n
that could be the high for the next<\/div>\n<\/div>\n<\/div>\n
\n
\n
couple days if this is going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
a multi-day selloff after this extended<\/div>\n<\/div>\n<\/div>\n
\n
\n
push-up let’s just<\/div>\n<\/div>\n<\/div>\n
\n
\n
narrow in on what the overall trade is<\/div>\n<\/div>\n<\/div>\n
\n
\n
so if you go back to the<\/div>\n<\/div>\n<\/div>\n
\n
\n
the variables what’s the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
the trade is that after an extended push<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a multi-day<\/div>\n<\/div>\n<\/div>\n
\n
\n
name or a multi-day push on a name such<\/div>\n<\/div>\n<\/div>\n
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\n
as gme<\/div>\n<\/div>\n<\/div>\n
\n
\n
it has the tendency to fade any over<\/div>\n<\/div>\n<\/div>\n
\n
\n
extensions to the upside<\/div>\n<\/div>\n<\/div>\n
\n
\n
once this once the top was set in it<\/div>\n<\/div>\n<\/div>\n
\n
\n
so any extensions were have been faded<\/div>\n<\/div>\n<\/div>\n
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\n
for multi multiple days or at least in<\/div>\n<\/div>\n<\/div>\n
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\n
the<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorter term time frame okay so two<\/div>\n<\/div>\n<\/div>\n
\n
\n
questions one how do you determine<\/div>\n<\/div>\n<\/div>\n
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\n
over overextended and two are you using<\/div>\n<\/div>\n<\/div>\n
\n
\n
the high as a technical level<\/div>\n<\/div>\n<\/div>\n
\n
\n
so to answer your first question<\/div>\n<\/div>\n<\/div>\n
\n
\n
overextended is going to be<\/div>\n<\/div>\n<\/div>\n
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\n
any multiple days in a row where it’s<\/div>\n<\/div>\n<\/div>\n
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\n
going to be having<\/div>\n<\/div>\n<\/div>\n
\n
\n
extended pushes like this and then it<\/div>\n<\/div>\n<\/div>\n
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\n
adds this<\/div>\n<\/div>\n<\/div>\n
\n
\n
after hours catalyst which makes it even<\/div>\n<\/div>\n<\/div>\n
\n
\n
more overextended<\/div>\n<\/div>\n<\/div>\n
\n
\n
back into what’s really important is<\/div>\n<\/div>\n<\/div>\n
\n
\n
into uh previous levels so<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 175 was a level and then also 190<\/div>\n<\/div>\n<\/div>\n
\n
\n
to 200<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re also overhead levels from the<\/div>\n<\/div>\n<\/div>\n
\n
\n
earnings consolidation so is the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
overextended on our daily charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
over extended on our shorter term charts<\/div>\n<\/div>\n<\/div>\n
\n
\n
up against a longer term technical<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance area<\/div>\n<\/div>\n<\/div>\n
\n
\n
yes yeah i understand that<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh it might be helpful for you<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be very succinct about what about<\/div>\n<\/div>\n<\/div>\n
\n
\n
what you’re doing and what the<\/div>\n<\/div>\n<\/div>\n
\n
\n
what the trade really is i i did read<\/div>\n<\/div>\n<\/div>\n
\n
\n
your variables and maybe that makes<\/div>\n<\/div>\n<\/div>\n
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\n
sense<\/div>\n<\/div>\n<\/div>\n
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\n
to you it strikes me as you can be more<\/div>\n<\/div>\n<\/div>\n
\n
\n
succinct and<\/div>\n<\/div>\n<\/div>\n
\n
\n
clearer about what the trade is yes i do<\/div>\n<\/div>\n<\/div>\n
\n
\n
think i can be<\/div>\n<\/div>\n<\/div>\n
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\n
more clear with like atr’s and like<\/div>\n<\/div>\n<\/div>\n
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\n
marvel<\/div>\n<\/div>\n<\/div>\n
\n
\n
and what um easily defines<\/div>\n<\/div>\n<\/div>\n
\n
\n
over extension in each of the names so<\/div>\n<\/div>\n<\/div>\n
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\n
for this<\/div>\n<\/div>\n<\/div>\n
\n
\n
i really kind of wanted to see how a<\/div>\n<\/div>\n<\/div>\n
\n
\n
push would look back into<\/div>\n<\/div>\n<\/div>\n
\n
\n
to see if we could test this high that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to be the inflection<\/div>\n<\/div>\n<\/div>\n
\n
\n
for me um all the way up to 200 which is<\/div>\n<\/div>\n<\/div>\n
\n
\n
kind of a hard level<\/div>\n<\/div>\n<\/div>\n
\n
\n
to kind of size into this and then see<\/div>\n<\/div>\n<\/div>\n
\n
\n
if we do get a rollover<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so off the open we get a small cell<\/div>\n<\/div>\n<\/div>\n
\n
\n
on a little bit of volume and then we<\/div>\n<\/div>\n<\/div>\n
\n
\n
get this expansive push<\/div>\n<\/div>\n<\/div>\n
\n
\n
back into kind of these highs to see how<\/div>\n<\/div>\n<\/div>\n
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\n
strong we really are<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that is immediately sold back under<\/div>\n<\/div>\n<\/div>\n
\n
\n
v-womp<\/div>\n<\/div>\n<\/div>\n
\n
\n
back out of this range into these lows<\/div>\n<\/div>\n<\/div>\n
\n
\n
and consolidates hot<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh sideways and that basically shows me<\/div>\n<\/div>\n<\/div>\n
\n
\n
that the<\/div>\n<\/div>\n<\/div>\n
\n
\n
larger term demand is not going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
able to sustain for this to push<\/div>\n<\/div>\n<\/div>\n
\n
\n
all the way back into these highs and<\/div>\n<\/div>\n<\/div>\n
\n
\n
continue to run and that this kind of<\/div>\n<\/div>\n<\/div>\n
\n
\n
sets the tone<\/div>\n<\/div>\n<\/div>\n
\n
\n
for the day that this was sold so hard<\/div>\n<\/div>\n<\/div>\n
\n
\n
that it wasn’t able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh hold v-wamp like the previous days<\/div>\n<\/div>\n<\/div>\n
\n
\n
and that it’s back under v-wop so<\/div>\n<\/div>\n<\/div>\n
\n
\n
quickly and so hardly sold<\/div>\n<\/div>\n<\/div>\n
\n
\n
really sets the tone for how this<\/div>\n<\/div>\n<\/div>\n
\n
\n
possibly can<\/div>\n<\/div>\n<\/div>\n
\n
\n
play out for the rest of the day after<\/div>\n<\/div>\n<\/div>\n
\n
\n
this immediate selloff uh towards highs<\/div>\n<\/div>\n<\/div>\n
\n
\n
price begins to consolidate sideways<\/div>\n<\/div>\n<\/div>\n
\n
\n
you see we never really test above this<\/div>\n<\/div>\n<\/div>\n
\n
\n
184 185 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
but i think the really key parts of this<\/div>\n<\/div>\n<\/div>\n
\n
\n
entire day is the failed push higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
on multiple occasions we have this which<\/div>\n<\/div>\n<\/div>\n
\n
\n
starts to trend<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then here we’re unable to test this<\/div>\n<\/div>\n<\/div>\n
\n
\n
high and we end up breaking this up<\/div>\n<\/div>\n<\/div>\n
\n
\n
trend<\/div>\n<\/div>\n<\/div>\n
\n
\n
and kind of selling off but we continue<\/div>\n<\/div>\n<\/div>\n
\n
\n
to go sideways<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then the most important one was this<\/div>\n<\/div>\n<\/div>\n
\n
\n
one i do believe<\/div>\n<\/div>\n<\/div>\n
\n
\n
because we once again made a new higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then got immediately sold back into<\/div>\n<\/div>\n<\/div>\n
\n
\n
the range back<\/div>\n<\/div>\n<\/div>\n
\n
\n
going sideways underneath v womp and it<\/div>\n<\/div>\n<\/div>\n
\n
\n
clearly shows that buyers are unable to<\/div>\n<\/div>\n<\/div>\n
\n
\n
push price any higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
than the current price and this stuff is<\/div>\n<\/div>\n<\/div>\n
\n
\n
immediately sold<\/div>\n<\/div>\n<\/div>\n
\n
\n
and consolidated and then we finally get<\/div>\n<\/div>\n<\/div>\n
\n
\n
that larger term breakdown<\/div>\n<\/div>\n<\/div>\n
\n
\n
on high volume to kind of roll down and<\/div>\n<\/div>\n<\/div>\n
\n
\n
see if we can retest<\/div>\n<\/div>\n<\/div>\n
\n
\n
these lows so bella that’s kind of what<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
is this kind of seeing if we are able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
push higher<\/div>\n<\/div>\n<\/div>\n
\n
\n
and are strong for a continued day or<\/div>\n<\/div>\n<\/div>\n
\n
\n
are we unable to push higher with failed<\/div>\n<\/div>\n<\/div>\n
\n
\n
continuation and failed follow through<\/div>\n<\/div>\n<\/div>\n
\n
\n
and eventually a large term breakdown<\/div>\n<\/div>\n<\/div>\n
\n
\n
bigger picture from the daily<\/div>\n<\/div>\n<\/div>\n
\n
\n
historically this<\/div>\n<\/div>\n<\/div>\n
\n
\n
every time it’s pushed multiple days in<\/div>\n<\/div>\n<\/div>\n
\n
\n
a row<\/div>\n<\/div>\n<\/div>\n
\n
\n
since it’s been on its backside they<\/div>\n<\/div>\n<\/div>\n
\n
\n
have been sold for multiple days in a<\/div>\n<\/div>\n<\/div>\n
\n
\n
row and that’s kind of what we get here<\/div>\n<\/div>\n<\/div>\n
\n
\n
this high is never retested and once we<\/div>\n<\/div>\n<\/div>\n
\n
\n
get this breakdown we get a gap down the<\/div>\n<\/div>\n<\/div>\n
\n
\n
following day<\/div>\n<\/div>\n<\/div>\n
\n
\n
and a push down as well and then even<\/div>\n<\/div>\n<\/div>\n
\n
\n
if i didn’t update this but yesterday it<\/div>\n<\/div>\n<\/div>\n
\n
\n
was sold<\/div>\n<\/div>\n<\/div>\n
\n
\n
back down even further with this high<\/div>\n<\/div>\n<\/div>\n
\n
\n
never being taken out<\/div>\n<\/div>\n<\/div>\n
\n
\n
so like i said with vix being lower<\/div>\n<\/div>\n<\/div>\n
\n
\n
really<\/div>\n<\/div>\n<\/div>\n
\n
\n
opening my playbook up to larger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
trades with a wider stop has been<\/div>\n<\/div>\n<\/div>\n
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\n
something that<\/div>\n<\/div>\n<\/div>\n
\n
\n
does work and has been has been showing<\/div>\n<\/div>\n<\/div>\n
\n
\n
a lot of promise lately rather than<\/div>\n<\/div>\n<\/div>\n
\n
\n
getting such<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum moves i was comfortable<\/div>\n<\/div>\n<\/div>\n
\n
\n
scaling in very small this is extremely<\/div>\n<\/div>\n<\/div>\n
\n
\n
tiny size<\/div>\n<\/div>\n<\/div>\n
\n
\n
because i was giving it all the way to<\/div>\n<\/div>\n<\/div>\n
\n
\n
200 just having<\/div>\n<\/div>\n<\/div>\n
\n
\n
specific levels like 185 was the level<\/div>\n<\/div>\n<\/div>\n
\n
\n
that i had<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then 188 and then all the way into<\/div>\n<\/div>\n<\/div>\n
\n
\n
200<\/div>\n<\/div>\n<\/div>\n
\n
\n
was kind of going to be an area that i<\/div>\n<\/div>\n<\/div>\n
\n
\n
was going to be<\/div>\n<\/div>\n<\/div>\n
\n
\n
anticipating coming up so whenever we<\/div>\n<\/div>\n<\/div>\n
\n
\n
get<\/div>\n<\/div>\n<\/div>\n
\n
\n
immediately flushed back into this 185 i<\/div>\n<\/div>\n<\/div>\n
\n
\n
took this<\/div>\n<\/div>\n<\/div>\n
\n
\n
off this was v wap it on this chart but<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is also<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty close to v-wap as well so i took<\/div>\n<\/div>\n<\/div>\n
\n
\n
this initial sell-off<\/div>\n<\/div>\n<\/div>\n
\n
\n
to kind of rearrange my average if we<\/div>\n<\/div>\n<\/div>\n
\n
\n
did want to hold and push and as soon as<\/div>\n<\/div>\n<\/div>\n
\n
\n
we sell back off underneath that<\/div>\n<\/div>\n<\/div>\n
\n
\n
back into this opening price i re-added<\/div>\n<\/div>\n<\/div>\n
\n
\n
it back just started to add around a<\/div>\n<\/div>\n<\/div>\n
\n
\n
core<\/div>\n<\/div>\n<\/div>\n
\n
\n
expecting as long as we were under 185 i<\/div>\n<\/div>\n<\/div>\n
\n
\n
wanted to see where the next lower high<\/div>\n<\/div>\n<\/div>\n
\n
\n
was<\/div>\n<\/div>\n<\/div>\n
\n
\n
to risk off of that and to start adding<\/div>\n<\/div>\n<\/div>\n
\n
\n
against this 185<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then against this previous high<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so just kind of reworking my average<\/div>\n<\/div>\n<\/div>\n
\n
\n
on these if i can just jump in right<\/div>\n<\/div>\n<\/div>\n
\n
\n
here tristan so<\/div>\n<\/div>\n<\/div>\n
\n
\n
what if i were to say to you take a look<\/div>\n<\/div>\n<\/div>\n
\n
\n
at your comments and your comments focus<\/div>\n<\/div>\n<\/div>\n
\n
\n
on you know what you did poorly what if<\/div>\n<\/div>\n<\/div>\n
\n
\n
i were to ask you<\/div>\n<\/div>\n<\/div>\n
\n
\n
to rewrite those comments and to focus<\/div>\n<\/div>\n<\/div>\n
\n
\n
on<\/div>\n<\/div>\n<\/div>\n
\n
\n
what you did well with your execution<\/div>\n<\/div>\n<\/div>\n
\n
\n
what would your comments be as to what<\/div>\n<\/div>\n<\/div>\n
\n
\n
you did well<\/div>\n<\/div>\n<\/div>\n
\n
\n
i can definitely say the thing that i<\/div>\n<\/div>\n<\/div>\n
\n
\n
did well on this was not to oversize and<\/div>\n<\/div>\n<\/div>\n
\n
\n
keep the bigger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade in mind um so front side i didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
oversize<\/div>\n<\/div>\n<\/div>\n
\n
\n
at all i was really small and was able<\/div>\n<\/div>\n<\/div>\n
\n
\n
to risk where i wanted to<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then also on these ads i was never<\/div>\n<\/div>\n<\/div>\n
\n
\n
unable to<\/div>\n<\/div>\n<\/div>\n
\n
\n
continue to risk more once the trade set<\/div>\n<\/div>\n<\/div>\n
\n
\n
up<\/div>\n<\/div>\n<\/div>\n
\n
\n
better and better and then even being<\/div>\n<\/div>\n<\/div>\n
\n
\n
careful with<\/div>\n<\/div>\n<\/div>\n
\n
\n
taking off half right here as we’re back<\/div>\n<\/div>\n<\/div>\n
\n
\n
above<\/div>\n<\/div>\n<\/div>\n
\n
\n
the shorter term high yeah i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
you’re leaving something out though<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s pretty important that you did<\/div>\n<\/div>\n<\/div>\n
\n
\n
well<\/div>\n<\/div>\n<\/div>\n
\n
\n
what is that how do you feel about your<\/div>\n<\/div>\n<\/div>\n
\n
\n
entry price<\/div>\n<\/div>\n<\/div>\n
\n
\n
i thought it was really um really well<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh given the scale in and how well it<\/div>\n<\/div>\n<\/div>\n
\n
\n
worked yeah it was a really it was a<\/div>\n<\/div>\n<\/div>\n
\n
\n
really good entry price<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i point this out because i think<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s more important<\/div>\n<\/div>\n<\/div>\n
\n
\n
the takeaway from this trade for you<\/div>\n<\/div>\n<\/div>\n
\n
\n
is that your entry point price was<\/div>\n<\/div>\n<\/div>\n
\n
\n
really good<\/div>\n<\/div>\n<\/div>\n
\n
\n
you didn’t oversize<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you kept the bigger picture in mind<\/div>\n<\/div>\n<\/div>\n
\n
\n
that that’s more important that’s like<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s the most important part in<\/div>\n<\/div>\n<\/div>\n
\n
\n
reviewing this trade is for you to<\/div>\n<\/div>\n<\/div>\n
\n
\n
understand what you really did<\/div>\n<\/div>\n<\/div>\n
\n
\n
well so that you do that again and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
remind yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
to do that again and then to a lesser<\/div>\n<\/div>\n<\/div>\n
\n
\n
extent to a much lesser extent<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know i could have done better here<\/div>\n<\/div>\n<\/div>\n
\n
\n
so your your thought process walking<\/div>\n<\/div>\n<\/div>\n
\n
\n
away from this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
85 of your attention is these are the<\/div>\n<\/div>\n<\/div>\n
\n
\n
things you did really well<\/div>\n<\/div>\n<\/div>\n
\n
\n
let me do them again really well and<\/div>\n<\/div>\n<\/div>\n
\n
\n
then you know like 15<\/div>\n<\/div>\n<\/div>\n
\n
\n
i could have done a little bit better<\/div>\n<\/div>\n<\/div>\n
\n
\n
here and a little bit better there yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think that’s a much more constructive<\/div>\n<\/div>\n<\/div>\n
\n
\n
and accurate way for you to be reviewing<\/div>\n<\/div>\n<\/div>\n
\n
\n
this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh rereading that i can definitely see<\/div>\n<\/div>\n<\/div>\n
\n
\n
see that and um<\/div>\n<\/div>\n<\/div>\n
\n
\n
whereas i did understand what i did well<\/div>\n<\/div>\n<\/div>\n
\n
\n
but uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
not reviewing it i think it’s probably a<\/div>\n<\/div>\n<\/div>\n
\n
\n
mistake yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
it just strikes me as you’re being a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit too hard on yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
so going forward ideal trade management<\/div>\n<\/div>\n<\/div>\n
\n
\n
i think for the first part of the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
everything<\/div>\n<\/div>\n<\/div>\n
\n
\n
stays the same i did like i said size it<\/div>\n<\/div>\n<\/div>\n
\n
\n
well<\/div>\n<\/div>\n<\/div>\n
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and just i need to be a little bit<\/div>\n<\/div>\n<\/div>\n
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bigger since i am getting more and more<\/div>\n<\/div>\n<\/div>\n
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comfortable with<\/div>\n<\/div>\n<\/div>\n
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widening my time horizons on this<\/div>\n<\/div>\n<\/div>\n
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and then the only adjustment that i<\/div>\n<\/div>\n<\/div>\n
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would make would be whenever we are<\/div>\n<\/div>\n<\/div>\n
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coming into lowe’s<\/div>\n<\/div>\n<\/div>\n
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understanding what kind of trade i am<\/div>\n<\/div>\n<\/div>\n
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looking for and not taking<\/div>\n<\/div>\n<\/div>\n
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as much off into this flush and really<\/div>\n<\/div>\n<\/div>\n
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looking for a breakdown of this 178<\/div>\n<\/div>\n<\/div>\n
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in the these lows right here and<\/div>\n<\/div>\n<\/div>\n
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possibly adding a momentum lot<\/div>\n<\/div>\n<\/div>\n
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for the breakdown since i did have such<\/div>\n<\/div>\n<\/div>\n
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a good<\/div>\n<\/div>\n<\/div>\n
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average price at the time given we just<\/div>\n<\/div>\n<\/div>\n
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broke down<\/div>\n<\/div>\n<\/div>\n
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on elevated volume the trade summary is<\/div>\n<\/div>\n<\/div>\n
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this consider continually sets up every<\/div>\n<\/div>\n<\/div>\n
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few days<\/div>\n<\/div>\n<\/div>\n
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and especially on gme it does really<\/div>\n<\/div>\n<\/div>\n
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well<\/div>\n<\/div>\n<\/div>\n
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given how well of a range gme does have<\/div>\n<\/div>\n<\/div>\n
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whenever it does set up<\/div>\n<\/div>\n<\/div>\n
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and this isn’t just a trade that sets up<\/div>\n<\/div>\n<\/div>\n
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only on gme<\/div>\n<\/div>\n<\/div>\n
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this sets up on many multi multiple<\/div>\n<\/div>\n<\/div>\n
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sector runs<\/div>\n<\/div>\n<\/div>\n
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small caps anything and so continuing to<\/div>\n<\/div>\n<\/div>\n
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review these trades is going to be<\/div>\n<\/div>\n<\/div>\n
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something that i focus on<\/div>\n<\/div>\n<\/div>\n
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as it can make a lot of large part of my<\/div>\n<\/div>\n<\/div>\n
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p l on any given day<\/div>\n<\/div>\n<\/div>\n
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and also this was a learning experience<\/div>\n<\/div>\n<\/div>\n
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like i said i’m learning some of these<\/div>\n<\/div>\n<\/div>\n
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higher priced larger time frame<\/div>\n<\/div>\n<\/div>\n
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movements<\/div>\n<\/div>\n<\/div>\n
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and how to size them correctly um not<\/div>\n<\/div>\n<\/div>\n
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expecting<\/div>\n<\/div>\n<\/div>\n
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to just um hit it for a lot of size with<\/div>\n<\/div>\n<\/div>\n
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really quick momentum moves<\/div>\n<\/div>\n<\/div>\n
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and studying letting these plays come to<\/div>\n<\/div>\n<\/div>\n
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me<\/div>\n<\/div>\n<\/div>\n
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and sizing them correctly really helped<\/div>\n<\/div>\n<\/div>\n
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with this trade<\/div>\n<\/div>\n<\/div>\n
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and so what i could have done better<\/div>\n<\/div>\n<\/div>\n
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covers on the second half of the trade<\/div>\n<\/div>\n<\/div>\n
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like i had mentioned<\/div>\n<\/div>\n<\/div>\n
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and then possibly adding that momentum<\/div>\n<\/div>\n<\/div>\n
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lot<\/div>\n<\/div>\n<\/div>\n
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also something i want to kind of build<\/div>\n<\/div>\n<\/div>\n
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into is since i had mentioned this can<\/div>\n<\/div>\n<\/div>\n
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be a multi-day trade<\/div>\n<\/div>\n<\/div>\n
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being able to have a good enough entry<\/div>\n<\/div>\n<\/div>\n
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price to be able to<\/div>\n<\/div>\n<\/div>\n
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hold a piece overnight for the following<\/div>\n<\/div>\n<\/div>\n
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coming days<\/div>\n<\/div>\n<\/div>\n
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to try and work and learn how these<\/div>\n<\/div>\n<\/div>\n
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plays<\/div>\n<\/div>\n<\/div>\n
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play out on a multiple day time frame<\/div>\n<\/div>\n<\/div>\n
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and really just being able to<\/div>\n<\/div>\n<\/div>\n
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work my average better and<\/div>\n<\/div>\n<\/div>\n
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sizing up accordingly once i get more<\/div>\n<\/div>\n<\/div>\n
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\n
and more comfortable with these trades<\/div>\n<\/div>\n<\/div>\n
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\n
all right so i’m reading here<\/div>\n<\/div>\n<\/div>\n
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\n
your comments and and and you write<\/div>\n<\/div>\n<\/div>\n
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\n
i i need to always keep in mind the<\/div>\n<\/div>\n<\/div>\n
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\n
original idea of this trade as well<\/div>\n<\/div>\n<\/div>\n
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as the sizing of the trade<\/div>\n<\/div>\n<\/div>\n
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100 i’d love for the next sentence to be<\/div>\n<\/div>\n<\/div>\n
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\n
and i’m going to do that<\/div>\n<\/div>\n<\/div>\n
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\n
for my trading by doing x y z one two<\/div>\n<\/div>\n<\/div>\n
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three<\/div>\n<\/div>\n<\/div>\n
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does that make sense i’d love for<\/div>\n<\/div>\n<\/div>\n
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you you’re doing a really good job of<\/div>\n<\/div>\n<\/div>\n
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recognizing the issue<\/div>\n<\/div>\n<\/div>\n
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i’d love for there to be a solution a<\/div>\n<\/div>\n<\/div>\n
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specific solution that works<\/div>\n<\/div>\n<\/div>\n
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well for you or a specific solution<\/div>\n<\/div>\n<\/div>\n
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you’re going to try what i had thought<\/div>\n<\/div>\n<\/div>\n
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about trying was<\/div>\n<\/div>\n<\/div>\n
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making sure i keep keeping multiple time<\/div>\n<\/div>\n<\/div>\n
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frames up<\/div>\n<\/div>\n<\/div>\n
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because of this being a larger picture<\/div>\n<\/div>\n<\/div>\n
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time frame sometimes i do get<\/div>\n<\/div>\n<\/div>\n
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too zoomed in on like maybe one minute<\/div>\n<\/div>\n<\/div>\n
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\n
or five minutes<\/div>\n<\/div>\n<\/div>\n
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\n
and so zooming back out and keeping like<\/div>\n<\/div>\n<\/div>\n
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a daily up or like a 15 to 30 minute or<\/div>\n<\/div>\n<\/div>\n
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an hourly up<\/div>\n<\/div>\n<\/div>\n
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was kind of going to be my first kind of<\/div>\n<\/div>\n<\/div>\n
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stab at trying to<\/div>\n<\/div>\n<\/div>\n
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be a solution for that problem yeah<\/div>\n<\/div>\n<\/div>\n
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\n
that’s excellent and you can try that<\/div>\n<\/div>\n<\/div>\n
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\n
another thing<\/div>\n<\/div>\n<\/div>\n
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people do is they actually write down<\/div>\n<\/div>\n<\/div>\n
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the target<\/div>\n<\/div>\n<\/div>\n
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\n
for the overall trade so they say yeah<\/div>\n<\/div>\n<\/div>\n
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i’m going to cover the<\/div>\n<\/div>\n<\/div>\n
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\n
i think the cover is uh 165.<\/div>\n<\/div>\n<\/div>\n
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\n
i think the cover is xyz that’s and they<\/div>\n<\/div>\n<\/div>\n
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write that down on a piece of paper and<\/div>\n<\/div>\n<\/div>\n
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they keep that in front of them and they<\/div>\n<\/div>\n<\/div>\n
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\n
keep looking at it that’s another thing<\/div>\n<\/div>\n<\/div>\n
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\n
and i just want to follow up there<\/div>\n<\/div>\n<\/div>\n
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\n
where you say i need to continue to grow<\/div>\n<\/div>\n<\/div>\n
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\n
my size in this trade as i learn to<\/div>\n<\/div>\n<\/div>\n
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\n
trade better and<\/div>\n<\/div>\n<\/div>\n
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\n
control my my risk good and good to<\/div>\n<\/div>\n<\/div>\n
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\n
recognize that<\/div>\n<\/div>\n<\/div>\n
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\n
i would love again for the next sentence<\/div>\n<\/div>\n<\/div>\n
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\n
to be<\/div>\n<\/div>\n<\/div>\n
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\n
here’s how you’re going to do that<\/div>\n<\/div>\n<\/div>\n
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\n
specifically so i’m going to grow my<\/div>\n<\/div>\n<\/div>\n
\n
\n
size in this trade specifically<\/div>\n<\/div>\n<\/div>\n
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\n
by uh xyz123<\/div>\n<\/div>\n<\/div>\n
\n
\n
and there’s different ways to do that<\/div>\n<\/div>\n<\/div>\n
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\n
and you want to be thinking about that<\/div>\n<\/div>\n<\/div>\n
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\n
but it’s funny i actually think you’re<\/div>\n<\/div>\n<\/div>\n
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\n
too hard on yourself<\/div>\n<\/div>\n<\/div>\n
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\n
and some are in some respects and i<\/div>\n<\/div>\n<\/div>\n
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think you could be more specific<\/div>\n<\/div>\n<\/div>\n
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\n
for solutions and you can exp you can<\/div>\n<\/div>\n<\/div>\n
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\n
expect yourself to be more specific of<\/div>\n<\/div>\n<\/div>\n
\n
\n
the solutions in other respects and it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
just so super important to be specific<\/div>\n<\/div>\n<\/div>\n
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\n
because i don’t really it’s much more<\/div>\n<\/div>\n<\/div>\n
\n
\n
meaningful to say i’m going to be bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
in this trade by doing these things by<\/div>\n<\/div>\n<\/div>\n
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\n
doing<\/div>\n<\/div>\n<\/div>\n
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\n
one two or three it’s much more<\/div>\n<\/div>\n<\/div>\n
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\n
meaningful to say<\/div>\n<\/div>\n<\/div>\n
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\n
i’m going to hold to target<\/div>\n<\/div>\n<\/div>\n
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\n
and that’s the solution for me<\/div>\n<\/div>\n<\/div>\n
\n
\n
focusing on the bigger picture those are<\/div>\n<\/div>\n<\/div>\n
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\n
very i mean just<\/div>\n<\/div>\n<\/div>\n
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\n
imagine traitor a sitting at his desk<\/div>\n<\/div>\n<\/div>\n
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\n
saying to himself i i<\/div>\n<\/div>\n<\/div>\n
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\n
i would like to trade the bigger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
better or consider the bigger picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
better i’d like to trade this<\/div>\n<\/div>\n<\/div>\n
\n
\n
opportunity bigger<\/div>\n<\/div>\n<\/div>\n
\n
\n
versus trader bay who’s sitting there<\/div>\n<\/div>\n<\/div>\n
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\n
and in front of him<\/div>\n<\/div>\n<\/div>\n
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\n
is the target written out for the trade<\/div>\n<\/div>\n<\/div>\n
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\n
which he keeps in front of him<\/div>\n<\/div>\n<\/div>\n
\n
\n
and he is referencing as he’s in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
middle of the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and and and also trader b who’s saying<\/div>\n<\/div>\n<\/div>\n
\n
\n
all right i’m gonna risk 30 percent of<\/div>\n<\/div>\n<\/div>\n
\n
\n
my my intraday stop on this trade which<\/div>\n<\/div>\n<\/div>\n
\n
\n
is<\/div>\n<\/div>\n<\/div>\n
\n
\n
three thousand dollars and that me and i<\/div>\n<\/div>\n<\/div>\n
\n
\n
have uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
ten cent i have ten points as my stop so<\/div>\n<\/div>\n<\/div>\n
\n
\n
i can trade x amount of shares and<\/div>\n<\/div>\n<\/div>\n
\n
\n
and do it that way that that specificity<\/div>\n<\/div>\n<\/div>\n
\n
\n
is is really going to grow<\/div>\n<\/div>\n<\/div>\n
\n
\n
is really going to help you improve yeah<\/div>\n<\/div>\n<\/div>\n
\n
\n
100 that makes<\/div>\n<\/div>\n<\/div>\n
\n
\n
a whole lot of sense um and definitely<\/div>\n<\/div>\n<\/div>\n
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\n
thank you for bringing it up you really<\/div>\n<\/div>\n<\/div>\n
\n
\n
do want to point out the things you<\/div>\n<\/div>\n<\/div>\n
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\n
you’re doing better as well i mean stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
selection terrific<\/div>\n<\/div>\n<\/div>\n
\n
\n
use of the longer term technical<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance level<\/div>\n<\/div>\n<\/div>\n
\n
\n
terrific finding of a setup that<\/div>\n<\/div>\n<\/div>\n
\n
\n
really has edge overextended<\/div>\n<\/div>\n<\/div>\n
\n
\n
on your daily charts overextended<\/div>\n<\/div>\n<\/div>\n
\n
\n
on your intraday charts up against<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a terrific trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s a trade with edge and<\/div>\n<\/div>\n<\/div>\n
\n
\n
leaving enough leaving enough room<\/div>\n<\/div>\n<\/div>\n
\n
\n
so that you don’t get stopped out not<\/div>\n<\/div>\n<\/div>\n
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\n
oversizing it too much you know<\/div>\n<\/div>\n<\/div>\n
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\n
really really well done taking some<\/div>\n<\/div>\n<\/div>\n
\n
\n
profits into dips<\/div>\n<\/div>\n<\/div>\n
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\n
that’s an excellent best practice you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
doing so many things well<\/div>\n<\/div>\n<\/div>\n
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\n
that that’s really important like every<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade you really want to see the things<\/div>\n<\/div>\n<\/div>\n
\n
\n
you do well because that will help you<\/div>\n<\/div>\n<\/div>\n
\n
\n
do them again and<\/div>\n<\/div>\n<\/div>\n
\n
\n
just anecdotally<\/div>\n<\/div>\n<\/div>\n
\n
\n
i know you play baseball at a pretty<\/div>\n<\/div>\n<\/div>\n
\n
\n
high level so i’ll i’ll share the<\/div>\n<\/div>\n<\/div>\n
\n
\n
the story uh with you so my son’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
playing baseball<\/div>\n<\/div>\n<\/div>\n
\n
\n
he’s seven he’s just learning how to<\/div>\n<\/div>\n<\/div>\n
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\n
pitch uh the other day<\/div>\n<\/div>\n<\/div>\n
\n
\n
he gets a chance to pitch and<\/div>\n<\/div>\n<\/div>\n
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\n
loads the bases walks the first three<\/div>\n<\/div>\n<\/div>\n
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\n
guys<\/div>\n<\/div>\n<\/div>\n
\n
\n
then ball comes back to the mound gets<\/div>\n<\/div>\n<\/div>\n
\n
\n
hit back to the mound<\/div>\n<\/div>\n<\/div>\n
\n
\n
they get the guy at a home plate next<\/div>\n<\/div>\n<\/div>\n
\n
\n
pitch he throws the wild pitch the<\/div>\n<\/div>\n<\/div>\n
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\n
catcher picks the ball<\/div>\n<\/div>\n<\/div>\n
\n
\n
up and they tag the guy out at home<\/div>\n<\/div>\n<\/div>\n
\n
\n
plate two outs<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then he gets the he gets the next<\/div>\n<\/div>\n<\/div>\n
\n
\n
guy out<\/div>\n<\/div>\n<\/div>\n
\n
\n
so after the after the game<\/div>\n<\/div>\n<\/div>\n
\n
\n
my son and i could review it by saying<\/div>\n<\/div>\n<\/div>\n
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\n
by spending so much time on<\/div>\n<\/div>\n<\/div>\n
\n
\n
why he was wild and loaded the bases<\/div>\n<\/div>\n<\/div>\n
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\n
and all the things he did wrong and he<\/div>\n<\/div>\n<\/div>\n
\n
\n
did a lot of things wrong<\/div>\n<\/div>\n<\/div>\n
\n
\n
i mean as a baseball player we could<\/div>\n<\/div>\n<\/div>\n
\n
\n
talk a lot about them his arm slot was<\/div>\n<\/div>\n<\/div>\n
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\n
wrong his<\/div>\n<\/div>\n<\/div>\n
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\n
he was doing a lot of things wrong and<\/div>\n<\/div>\n<\/div>\n
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\n
we could have spent<\/div>\n<\/div>\n<\/div>\n
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\n
15 20 minutes talking about all the<\/div>\n<\/div>\n<\/div>\n
\n
\n
things that he did wrong<\/div>\n<\/div>\n<\/div>\n
\n
\n
and all the mistakes he made and how<\/div>\n<\/div>\n<\/div>\n
\n
\n
unacceptable it is to come in the game<\/div>\n<\/div>\n<\/div>\n
\n
\n
and load the bases by walking everybody<\/div>\n<\/div>\n<\/div>\n
\n
\n
and not being able to throw strikes<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know or we could say we could focus<\/div>\n<\/div>\n<\/div>\n
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\n
on the fact that he figured out how to<\/div>\n<\/div>\n<\/div>\n
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\n
get out of the inning<\/div>\n<\/div>\n<\/div>\n
\n
\n
and he found a way to find his arm slot<\/div>\n<\/div>\n<\/div>\n
\n
\n
and he found a way to minimize the<\/div>\n<\/div>\n<\/div>\n
\n
\n
damage and that’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
a huge positive and then<\/div>\n<\/div>\n<\/div>\n
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\n
you know tangentially just note<\/div>\n<\/div>\n<\/div>\n
\n
\n
that hey you you were a little bit low<\/div>\n<\/div>\n<\/div>\n
\n
\n
with your arm slot<\/div>\n<\/div>\n<\/div>\n
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\n
you need to get your arm you need to get<\/div>\n<\/div>\n<\/div>\n
\n
\n
your elbow up we’ll work on that in the<\/div>\n<\/div>\n<\/div>\n
\n
\n
next pitching<\/div>\n<\/div>\n<\/div>\n
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\n
side session who’s going to be better in<\/div>\n<\/div>\n<\/div>\n
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\n
the long run<\/div>\n<\/div>\n<\/div>\n
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\n
what is a more constructive way to think<\/div>\n<\/div>\n<\/div>\n
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\n
about your performance<\/div>\n<\/div>\n<\/div>\n
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\n
the focus on all the things you did<\/div>\n<\/div>\n<\/div>\n
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\n
really poorly<\/div>\n<\/div>\n<\/div>\n
\n
\n
or you know really recognizing what you<\/div>\n<\/div>\n<\/div>\n
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\n
do well with room to fix the things you<\/div>\n<\/div>\n<\/div>\n
\n
\n
don’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i try to give you a baseball analogy<\/div>\n<\/div>\n<\/div>\n
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\n
because i<\/div>\n<\/div>\n<\/div>\n
\n
\n
thought you might appreciate that but uh<\/div>\n<\/div>\n<\/div>\n
\n
\n
but think about that yeah i definitely<\/div>\n<\/div>\n<\/div>\n
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\n
do appreciate it um<\/div>\n<\/div>\n<\/div>\n
\n
\n
thanks a lot yeah um going forward i’ll<\/div>\n<\/div>\n<\/div>\n
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\n
definitely be focusing on that a whole<\/div>\n<\/div>\n<\/div>\n
\n
\n
lot more so thanks for bringing that to<\/div>\n<\/div>\n<\/div>\n
\n
\n
my attention and<\/div>\n<\/div>\n<\/div>\n
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\n
giving me some constructive feedback<\/div>\n<\/div>\n<\/div>\n
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\n
definitely helps a lot<\/div>\n<\/div>\n<\/div>\n
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\n
hey go ahead and click our subscribe<\/div>\n<\/div>\n<\/div>\n
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button so you don’t miss any of the<\/div>\n<\/div>\n<\/div>\n
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videos they’re producing for you and the<\/div>\n<\/div>\n<\/div>\n
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trading community and please take the<\/div>\n<\/div>\n<\/div>\n
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time to add your feedback<\/div>\n<\/div>\n<\/div>\n
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in the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
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you’d like for us to produce next<\/div>\n<\/div>\n<\/div>\n
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and what you found helpful from this<\/div>\n<\/div>\n<\/div>\n
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video from all of us at smb<\/div>\n<\/div>\n<\/div>\n
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train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

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

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