3 trade examples using our most effective trading indicator - Reading the Tape
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- Опубликовано: 22 май 2024
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#tradingindicator #daytrading #readingthetape
Advice from my own experiences...if reading the tape is too fast or difficult for you at first live on whatever is running on the day....start by reading the flow on a much slower stock. A couple million shares traded daily, and maybe an average daily range of .20c on a small cap. Start scalping small intraday ranges using support/resistance levels on the chart, wait for price to approach and put some small size on when you see absorbing long/short. Over time you'll be able to more or less "feel" when the markets are about to flip on you (relevant to whatever timeframe you trade) before the charts could ever tell you the buyer/sellers intentions play out. Just put in the screentime. Scalping isn't sexy or super sophisticated but it is very consistent. Just be long when buyers are dominating, and be short when sellers do the same.
Best video on RUclips on reading the tape. Concise, properly structured and very professional. Thanks for sharing such valuable knowledge.
By the way the top of that time and sales is so cool. Very nice touch for an added visualization of who's in control.
Watched 5/28/2023 - GREAT video breaking down the point of attack on a trade.
A trained brain: the most effective indicator.
😎😎💯💯😁😁thts big facts
I just commented on a video a day or so ago asking for a tape reading tips and here we are!! 😀 I have been burning thru these videos taking notes and rewatching. Thank you so much for all these videos you take the time to make and share your my all time favorite to learn from and the best!!
This right here is hands down aside from making your own rules to trade by and just learning everything I can, the best advice I feel I have come across on making trades. We all hear people talk of charts all the time in technical analysis, even using level II, yet this is looking and analyzing the data that is showing you what the chart is going to do, big buyer there looking to buy it's gonna go up after the fill and it probably has support, big seller it's going to go down and probably has resistance, and you can see that with the lvl II and surely comparing with the time and sales through reading the Tape. Just this alone will improve my trading ability so much just by being able to process the real time data of which direction the stock is going or going to go. Thank you guys so much for making this and discussing this!!!
Great video. Well put together tweet on Longs and Shorts plus the additional comments and this video offered tons of value. Thank You Mike B. and SMB
Thank You Mike. Hope you have a great weekend
This video has me completely revising the way I will be jumping in and out of trades. Superb ideas here, all around. Thank You , Mike.
Good to hear Frank. I do think the biggest take away from a video like this is to improve how you think through your trading and trades.
Thanks for the upload Mike! I hope you and Jason had an awesome day today I can't wait to see what you guys talked about!
Thanks for the lesson Bella!
Really appreciate the SMB pages. Thanks for the knowledge !!
This is by far the best trading channel educational information on RUclips
Great video on
Tape Reading ..loved the 3 stock examples bringing all the skills together.
Fantastic Mike.Thanks.
Thank you for a brilliant explanation of reading the tape, your videos are priceless and appreciated by many people thanks once again.
You are welcome Andrew.
This has to be one of my favorite videos yet. I enjoyed: 3 different examples being broken down. The explanation was excellent and well timed, adding enough time for pause when appropriate. - Outstanding teaching as always. - Loved the content as its topic you explain well with practical applications of it. - As always the summary at the end is an outstanding teaching methodology and helps solidify the information. Love that you guys do that - Your ending note was fantastic; You are straight with us: " this is why you need it - the best use it - if you are not using this and you are serious about trading you need to be learning this and using it" -------------- Thanks again Mike.
you are welcome Brandon
For day trades, you're 100 percent correct! Awesome indicator. News shifts the tape in time but for quick trades, Mike is bang on. Great clip n thks.
Excellent information (as usual)... Thank you SMB!!!
Hey Bella, Thanks for explaining that "I'm reading the tape" comment we frequently hear.
Thank you for making this video , I was reading your book "One Good Trade" Awesome book for see how the pros play the game by the way, And I realized I didn't fully understand the concept of reading the tape or the true benefit of this skill so I stopped reading and started looking for any thing on tape reading, I didn't realize I stepped into a boxing ring and had 1 arm tied behind my back
Excellent! Thanks for teaching me the concept of reading the tape!
Top quality video as always. Stressing a subject most traders do not think of or gauge impossible to master. Maybe the most important subject for future videos, but as you said it is mostly practice
Excellent vid. Eyes were opened on this one
Great video Mike, thanks. It may be too much to ask for free content, but actually showing the Level II and Time and Sales action through these key levels you describe would be super instructive. I have been trading for a few years and have never gotten the hang of this. I'd love to see the subtle differences you see in the tape/L2 at these key areas. It all looks the same to me.
Thanks Mike, informative as always.
fantastic video. Glad I revsisted. Thanks for sharing.
Thank you so much for the video; it is very informative. I would appreciate if you could upload a video of a live trade.
Absolutely great video! Thanks a lot for the extremely valuable content!
Reading the Tape, excellent video. Thank you
Great video as usual MB. Thank you.
I love the way you teach
Amazing play by play.
Thanks Mike great lesson here
Love this video thanks! I am mastering my tape trading skills, it’s like sitting in an auction room and watching what all the buyers are doing, I don’t want to be the only idiot bidding up the price, I got to see the whole room in the action, if no one is bidding then I shouldn’t be buying and selling instead, poor fella or lass whoever ends up with something that nobody else wants to own!
Again my thanks, hard core solid information. Note that you frequently use your cursor to point out information during the presentation. Could I ask you to consider making your cursor larger, possibly solid black, to make it easier to see and follow. Thanks.
Thank You so much for these uploads... Have listened to your podcast on Chat With Traders and have listened to your book. I'm at most inspired to one day be good enough at trading and potentially meeting the SMB Capital team one day. 👍
Look forward to meeting you one day in NYC
Very informative video!! Thanks for the info
GOOD VIDEO! as always.
Best video ever Bella. Really clarified tape reading for me!
gr8 to hear
Awesome thank you for creating this video 🙏🏽
Mike - are most of the 100 size orders you see on the t/s the work of algos? Do you take these into much account or is most of it just wash trading?
This video must have skipped me..great video on
TR...learned alot.😊
What’s a good source of level 2 market data? I’m seeing this tape setup you guys have, but idk how to get that same kind of setup, color coded and all for the order flow-
very good video with three examples
Mike do you pay all the entitlements to see the full open book in all different ECNS? It gives an edge?
Thank you for helping me understand what I have been seeing. It's helping become a better trader every day! I have been watching TLRY along with CGC, and I like TLRY as it is brand new. I saw a video from SMB regarding why trading a newish ipo is a good thing. I made $57 on my demo account with TD Ameritrade/TOS. I read the tape just as you said to help me find a couple of good entry points along with exits. Thank you so much!
I really like how you are working on your game on the demo first. Excellent to do this and show edge of concept and then start only risking small capital in real-time.
This is great. Do you cover reading the tape in the DNA program? Like a whole section with like 5 or 6 videos?
Would you consider the last example of CGC a Big Dawg set up with that narrowing consolidation pattern? I only watched the video once but it looks similar even though it's below VWAP.
Good video
Thank you, This tutorial was full of sound advice and I will be working on reading the tape to confirm my actions. I found this very helpful and appreciate your calm style of teaching.
Very good video,made sense
This is very helpful! Is there a chance for an episode with live examples of level II and tape reading?
ruclips.net/video/BZ4DsYcF_bM/видео.html
For only $10 this course will teach you how to read the tape...www.udemy.com/tape-reading-101-learn-how-to-read-the-tape-for-day-trading/
You guys have any videos based on trading around a core position for us non day traders? I'm specifically trying to figure out the best way to track performance aside from breaking out each scale adjustment or hedge individually. I'm picture a primary trade_id with sub trade_id in the background. But everytime I do this it becomes a mess. I guess I need more of a course is database design more than trading. I guess if I worked at smb I wouldn't have to worry about any of that stuff 😉
WHat are the best level 2 and tape software i can get as retail trader? I use think or swim platform. I dont have budget for costly tools.
Hi Mike, I have just started reading your book as I'am trying to become a trader and have found it quite an eye opener, So you can now guess what chapter I 'am now reading . Wish I discovered this book before I made so many mistakes..
hi whats the name of the book
@@superinvandrare9326 I believe he is talking about One good trade
Absolutely love this video... great explanation. 👍
This analysis works way better on a centralized market like futures... for sure the magic formule to make money on financial markets... like jesse livermore use to say: "the book never lies"
Great video your videos are awesome
In regards to the tape being implemented onto the candlestick chart in terms of bid ask footprint chart. What is SMB’s view on this? As it seems it would be much more useful? Thanks in advance
Very nice! Your content is getting much better lately imho (maybe because you are sharing more practical info). Question - do you think tape reading works best for stocks in play vs. just regular days? Maybe because there is more urgency on behalf of big players and they don't try as hard to hide their hand? Can you rely on tape reading on non-event days?
Yes Reading the Tapes works best when trading Stocks In Play. The tape is giving you a signal the stock is more likely to move in one direction and thus when you enter with a Stock In Play you are more likely it will move.
Videos about daily popular momentum stocks, i mean how u trade them would be nice for learning. For example on 05/29 SNOA, if u trade it, how did u trade? Long or short or may be both?
Can you please link to the blog post Mike is referring to.
04:09 long signs
06:29 short signs
when you refer to the "SPY higher" in your list are you referring to the ETF?...as you did not elaborate and so I was not sure if that was also an acronym for something else
Sorry for stupid question
In Time & Sales window
It’s obvious what green and red means (hmm, now I’m not so sure)
But what represents the white records
In which stocks do you play the Bounce trade? Gap downs close to a known support level? I find it hard to select correct plays on the correct stocks
It's not always a sure thing...but a core principle I have when trying to read the tape at the open is simple and has proven valuable to me for a long time now. Watch the opening prints on the tape, if you see buyers pushing the bids aggressively ABOVE the open then I throw 1/4 size on. If it continues to hold above that open print for the most part just add size until you see buyers give up (prints well below the open, sellers reloading at highs). And vice versa for shorting out the gate, if you see sellers aggressively pushing down below the open then do the same, short until buyers prove you wrong. You can't freeze up you must be robotic and quick about it. Not worth it to hold if it's going against you in the first minute.
Bella, in markets where the tape/DOM moves very fast in markets like ES or NQ, what are your thoughts on using Cumulative Delta instead to filter the small trade noise, spoofing, etc. to make decisions at a level?
for the es I like to read the dark pools on the spy to confirm my thesis while reading the time and sales.
How do you get to read darkpools?
Es is not fast.
Thank you
Welcome!
Becoming addicted to your videos , now my biggest dream is to visit SMB CAPITAL (Beside running the NY Marathon)
If you are ever in nyc just reach out to HR on our website and let them know. We often left outside traders sit in on some training meetings
Will surely do it.thank you (By the way you made me a fan of READING THE TAPE)
@@smbcapital that's so awesome!!!
Fantastic.
thx!
whats the ask Soopffing? can someone please explain
Thin on the ask? what do you mean? i thought that the more sellers on the ask is gonna drive the price to go higher
id like to see another scalp on something smaller like ELTK
I was taught not to use Market Order but I use IB, every time even when I was willing to buy at Ask price, the bid and and ask automatically both increased simultaneously. After 2x trying to buy at ask, it would be more than my Market Order initially. Very frustrated because so much money is lost over time. I wonder how do you pros being able to sell so many in such short time without being having your orders manipulated?
I have the same problem here
IB is known for awfull fills, try lightspeed or dastrader pro
Alfred Hitchcock The top Traders I know love DAS Trader Pro
Execute on the bid if you want to buy or on the ask if you want to sell. It's called a "marketable limit order" so it should get filled immediately, but its not a market order. A market order can get filled where ever they want. So use a limit order but buy on the ask and sell on the bid to get filled right away.
I really would like to be able to join this fine group..
Do you ever set a price target before you enter a trade or do you let the chart/sales tape tell you when to take profits
Traders will have targets in kind but if they see changes on the tape then that could be a reason to exit earlier or maybe they decide to take a smaller portion off at their target and continue to hold until there’s a clear exit on the tape. Our top trader will sell some into strength and add back size on any pull ins
What does big prints on the bid means? Can you please explain it?
Big prints simply means a large quantity of shares went through or "printed" at a given price.
So for example a 5000 share print comes up on your time and sales window vs most other prints at the moment being 100 or 200 shares.
Hope that helps
Thank uou
please continue with RTT Lessons Videos..... Thanks
will try to get more of those up!
whats is fighting for price?
Great video, although ¨thin on the ask¨and ¨big prints in the ask¨ 5:30 sounds contradictory, maybe I´m missing something if somebody knows the answer please share.
I was coming to comment section to see if somebody clarify on that cause that is very contradictory. That had me confused
I think it means In the case of going long that a short seller(s) want to came out of a big position that isnt going as they like or running close to their stop. But still kinda contradictory
Wow
His shirt reminds me of a charting program
I'd actually would like to take the course and have you as mentor :D ...
Here is a link Carlo www.smbtraining.com/blog/dna
@@mbellafiore19 Thanks Bella I just saw the answer right now ...
Can this work with cryptocurrency market
What trading platform do they use to see all that info?
It's on every trading platform.
Hmm interesting how ask or bid spoofing is a sign of bullish/bearish respectively. A lot of reverse psychology in tape reading kind of like a chess game
Does tape reading work for trading the SPY?
might not work as well considering there's a lot of bots in there. Usually for fresh in-play stuff you'll find the tape works better
@@smbcapital Thanks. Interesting, how do the bots mess up the tape? So, this is the difference between bots and human traders? How do bots act differently?
how many indictators u use and it is not clear .... With a day job , it is not possbile to do trading like this.
I feel like most everything here can be seen simply by watching a chart as it is forming.
offer = ask???
Ok hold up we need the other background back I'm not gonna lie.
I know many great traders who dont use the tape, seems like a very subjective topic
I rather continue investing with an expert. Remunerative returns are certain.
The markets has its ups and downs but it’s sure profitable
Bradford West well that’s just beta
Now that's how you read the tape. Lol..
33
So what is SPY?
SPY is the S&P 500 exchange traded fund
Nice Vid . But how about showing an example in realtime instead of after the fact ...Nothing beats Realtime , it's the equivalent of walking the walk .
Theres a lot of videos online doing this. Its hard to describe everything going on in real time and a lot of the stuff traders use they dont even consciously know they are using.
Stick with them... the most legit guys you could ever ask for.
Oh, If only You could speak Russian....(((