{"id":7115,"date":"2010-09-16T16:18:44","date_gmt":"2010-09-16T20:18:44","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=7115"},"modified":"2021-02-11T16:43:44","modified_gmt":"2021-02-11T21:43:44","slug":"the-one-penny-difference","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/the-one-penny-difference","title":{"rendered":"The One Penny Difference"},"content":{"rendered":"<p>FDX broke down technically below 82.71-82.65 intraday. \u00a083 was a prior important intraday level. \u00a0The sellers won that battle. \u00a0 FDX found 81.80 in a nice downtrend after the technical break. \u00a0And then we had another excellent opportunity for a technical trade. \u00a0We had another A trade.<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/fdx-stops.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-7116\" title=\"fdx stops\" src=\"http:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/fdx-stops.png\" alt=\"\" width=\"590\" height=\"389\" srcset=\"\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/fdx-stops.png 843w, \/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2010\/09\/fdx-stops-300x197.png 300w\" sizes=\"auto, (max-width: 590px) 100vw, 590px\" \/><\/a><\/p>\n<p>When a stock breaks a technical level like at below 82.71-82.65, makes a nice down move, and then returns to this level we almost always want to reshort. \u00a0I reshorted into the upmove towards this technical break level. \u00a0I entered 83.01 and 83.11 as my stops, playing for a downmove below the intraday low of 81.80 for 1\/2 and the rest for a longer term swing trade. \u00a0I missed getting stopped out by one penny.<\/p>\n<p>&nbsp;<\/p>\n<p>Late into the close I saw some support at 82 and closed out 3\/4 of my position, changing my original plan based on observation.<\/p>\n<p>The tape helped me find these important levels. \u00a083 was the most important price on the open on the tape. \u00a0After FDX started an intraday downtrend it was 82.71 as the BMOC of price.<\/p>\n<p>Trading is a game of probabilities. \u00a0Sometimes the trading Gods smile down on you. \u00a0My job is to execute. \u00a0I cannot control good fortune like this. \u00a0I am not as good as I was today. \u00a0I am not as bad as when circumstance calls for too many stops to be filled.<\/p>\n<p>Mike Bellafiore<\/p>\n<p>Author, <a href=\"http:\/\/amzn.to\/cqi1lT\">One Good Trade: Inside the Highly Competitive World of Proprietary Trading (Wiley)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FDX broke down technically below 82.71-82.65 intraday. \u00a083 was a prior important intraday level. \u00a0The sellers won that battle. \u00a0 FDX found 81.80 in a nice downtrend after the technical break. \u00a0And then we had another excellent opportunity for a technical trade. \u00a0We had another A trade. When a stock breaks a technical level like at below 82.71-82.65, makes a &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/the-one-penny-difference\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":144,"featured_media":7116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[4674,30,18,1393,1193,653,1354,1349],"class_list":["post-7115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-prop-trading","tag-smb-capital","tag-technical-trading-play","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The One Penny Difference | 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-one-penny-difference\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The One Penny Difference | SMB Training\" \/>\n<meta property=\"og:description\" content=\"FDX broke down technically below 82.71-82.65 intraday. \u00a083 was a prior important intraday level. \u00a0The sellers won that battle. \u00a0 FDX found 81.80 in a nice downtrend after the technical break. \u00a0And then we had another excellent opportunity for a technical trade. \u00a0We had another A trade. When a stock breaks a technical level like at below 82.71-82.65, makes a ... 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