{"id":6518,"date":"2010-08-12T12:01:01","date_gmt":"2010-08-12T16:01:01","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=6518"},"modified":"2021-05-11T15:35:27","modified_gmt":"2021-05-11T19:35:27","slug":"the-market-doesnt-care-about-your-opinion-kss","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-market-doesnt-care-about-your-opinion-kss","title":{"rendered":"The Market Doesn&#8217;t Care About Your Opinion (KSS)"},"content":{"rendered":"<p>The market doesn&#8217;t care about your opinion. \u00a0If you have a problem with this, get over it. \u00a0Today during our After the Open Review one our Newbs got a harsh tongue lashing for thinking he knew better than the market. \u00a0 This is a learning experience for us all.<\/p>\n<p>Iron Mike Mike made a great trade in KSS on the Open. \u00a0KSS had earnings. \u00a0KSS could not trade below 46.42. \u00a0And then it did. \u00a0Iron Mike Mike got short for a Trade2Hold. \u00a0His target was 45.40ish. \u00a0Perfect!<\/p>\n<p><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/kss.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-6521\" title=\"kss\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/kss-300x186.png\" alt=\"\" width=\"300\" height=\"186\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/kss-300x186.png 300w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/08\/kss.png 833w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>&#8220;Where is your out for KSS?&#8221; asked the balding (ok let&#8217;s be honest&#8230; bald) veteran trader from the back of the training room.<\/p>\n<p>&#8220;46.43,&#8221; responded Iron Mike Mike.<\/p>\n<p>&#8220;But you shorted KSS because it started an intraday downtrend. \u00a0Don&#8217;t you need to cover if KSS breaks the intraday downtrend?&#8221;<\/p>\n<p>&#8220;I had conviction that it would reach my target.&#8221;<\/p>\n<p>Cue Coach Bella and an expletive deletive response, sure to be remembered by all in the roon. \u00a0As it should be. \u00a0Critical feedback is an important element to how all new traders learn.<\/p>\n<p>I exploded: &#8220;The market doesn&#8217;t (expletive deletive) care where you think the stock is going. \u00a0You are trading a pattern. \u00a0It just so happens that your bias is being confirmed with the price action. \u00a0But when the intraday trend is broken it is a cover.&#8221;<\/p>\n<p>@alphatrends mocked those who make predictions on the twitter stream last week. \u00a0Professional traders make good risk\/reward trades and are not concerned with the outcome. \u00a0 Nor are they under the delusion that they really know where a stock or the market is headed. \u00a0Those who will be pushing paper around at some dead end job in the near future are new traders who trade seeking to fulfill some\u00a0narcissist\u00a0need to be correct. \u00a0 \u00a0Or smarter than the market. \u00a0Or your trading neighbor. \u00a0Or a friend. \u00a0Get over yourself. \u00a0 You have no idea where the market or stocks are really going in six months. All there is are favorable risk\/reward trades to make with the outcome uncertain and controlling your risk paramount.<\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author, <a href=\"http:\/\/amzn.to\/9iktei\">One Good Trade (Wiley)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The market doesn&#8217;t care about your opinion. \u00a0If you have a problem with this, get over it. \u00a0Today during our After the Open Review one our Newbs got a harsh tongue lashing for thinking he knew better than the market. \u00a0 This is a learning experience for us all. Iron Mike Mike made a great trade in KSS on the &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-market-doesnt-care-about-your-opinion-kss\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":6521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,10],"tags":[742,1284,1283,151,4674,1285,30,50,18,471,1193,1286,578],"class_list":["post-6518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-about","tag-care","tag-doesnt","tag-market","tag-one-good-trade","tag-opinion","tag-prop-trading","tag-proprietary-trading","tag-smb-capital","tag-the","tag-trader-education","tag-trading-training","tag-your"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Market Doesn&#039;t Care About Your Opinion (KSS) | 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\/the-market-doesnt-care-about-your-opinion-kss\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Market Doesn&#039;t Care About Your Opinion (KSS) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"The market doesn&#8217;t care about your opinion. \u00a0If you have a problem with this, get over it. \u00a0Today during our After the Open Review one our Newbs got a harsh tongue lashing for thinking he knew better than the market. \u00a0 This is a learning experience for us all. 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