A Trading Date

 I liked an analogy or metaphor for making trades (particularly during earnings).  The idea is that making a trade is kind of like going on a blind date.  You have a pretty good idea of what will be go on, where it will be, what you are likely to eat, but you're not sure about your date and exactly what will happen. As far as earnings go - it is the information that we can get on the date.  Even better we can look back and see how the stock acted under different conditions (sometimes similar) during earnings. This could be like knowing things about your date - favorite song, favorite kind of food, etc. etc. So if you know more about your date, the more likely the date is going to go well. At least that is the idea. Same goes for trading. The more  you know, the better of you will be. So why wouldn't you look back at past information. Yesterday in RIVN a pattern was discussed where it could sell off on the open because of the gap up and though the news was I think kind of positive, the bounce could be weak. Maybe a month or two ago RIVN had this a similar situation where it was gapping up and the bounce was weak and it just sold for the rest of the day. So going into the trade we had this past information and idea of what might play out. It so happens that the action was pretty similar. While I'm at it, I think it is important to mention that having many ideas for how the trade might play out is helpful (maybe not too many ideas). I also think that through repetition and just time spent watching tape and charts you get a better feel for what is setting up and the possible outcomes. So while preparing go over those possible outcomes so that you are prepared for the action of the day. Ok, I'm done for now. Cheers!