{"id":9385,"date":"2011-01-25T11:07:46","date_gmt":"2011-01-25T16:07:46","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=9385"},"modified":"2011-01-25T11:10:27","modified_gmt":"2011-01-25T16:10:27","slug":"frustrated-trader","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/frustrated-trader","title":{"rendered":"Frustrated Trader (VMW)"},"content":{"rendered":"

I traded VMW on the Open. Home of the impossible 5 million shares and no liquidity. If anyone is into the whole HFT conspiracy\/they are evil dogma replay this tape. Let’s see if we can learn from this rip.<\/p>\n

83 was a level from the open. It was a level from the premarket and afterhours trading. There was resistance on the tape here. Consumer confidence hit.<\/p>\n

10:00 \tECONX January Consumer Confidence 60.6 vs 53.5 Briefing.com consensus<\/p><\/blockquote>\n

83 held some more. I got shorter. And then 83 was no more. In my head I had stops immediately above. I was thinking 83.03 at worst 83.07 as my outs. I got 83.66. Rip. Frustrated.
\n\"\"<\/a><\/p>\n

But I saw the illiquidity. \u00a0I chirped about it to the desk. \u00a0Add the number hitting and that ramps up potential volitility. Add 82.50 is a level onto this VMW short fire and we smell danger.<\/p>\n

The crime was not in how illiquid VMW traded but rather the choice to trade it. I couldn’t control my risk. While catching the right side offered some tempting upside we must always first control our risk. I am frustrated at myself<\/a> for failing to do this.<\/p>\n

Mike Bellafiore
\nAuthor, One Good Trade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I traded VMW on the Open. Home of the impossible 5 million shares and no liquidity. If anyone is into the whole HFT conspiracy\/they are evil dogma replay this tape. Let’s see if we can learn from this rip. 83 was a level from the open. It was a level from the premarket and afterhours trading. There was resistance on … 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":[1,10],"tags":[4674,18,1193,653,1354,1349,1555],"class_list":["post-9385","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-mike-bellafiore-bellas-blogs","tag-one-good-trade","tag-smb-capital","tag-trader-education","tag-trader-training","tag-trading-coach","tag-trading-mentor","tag-trading-teacher","no-post-thumbnail"],"yoast_head":"\nFrustrated Trader (VMW) | 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\/frustrated-trader\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frustrated Trader (VMW) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"I traded VMW on the Open. Home of the impossible 5 million shares and no liquidity. If anyone is into the whole HFT conspiracy\/they are evil dogma replay this tape. Let’s see if we can learn from this rip. 83 was a level from the open. It was a level from the premarket and afterhours trading. There was resistance on ... 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