How A Junior Prop Trader Made A Series Of Scalp Trades To Achieve A Daily High In Profits ($TSLA)
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- Опубликовано: 5 июн 2024
- we share how a junior prop trader made a series of scalps in Tesla to achieve a new daily high in profits. Learn trading setups here smbu.com/mike
#Scalping #Tesla #daytrading
SMB Disclosures www.smbtraining.com/blog/smb-...
Another great learning video from Mike and SMB, THANKS for sharing !! I'm sure this will improve my scalping in the future
thx Ken!
Congrats to David on his milestone. I’m really impressed on his ability to flip sides in such a fast moving environment. And mike Bella has to be doing something right to be able to develop such talent. Thanks for the video.
are you next Meir?
@@mbellafiore19 . hard working trader looking to eventually join a professional prop firm. interested in either the DNA or winning trader program. Whatever is longer and more challenging is what i'm looking for. Already been in contact with Rose at SMBU. What is the process to qualify as a remote trader with SMB?
I get excited everytime I get a notification that a new video has dropped! Now I know what my next step should be: start slowly sizing up! I love this journey!
love hearing that
Wow. Just wow. Mike, the content is incredibly valuable and unlike any other. This is the quality. This is the way learning should be. I'm glad I stumbled upon you listening to your interview with Aaron from Chat with Traders :)
Awesome clip and trade. Very dynamic thinking and great focus to play both sides on the same day and be right. Well done and also very educational. Thanks!
Much appreciated!
Love this series! In the next installment, can you discuss how to manage stops when scalping? That can be a challenge when you're hitting in and out and the tape is moving quickly (at least it is for me). Place them too tight and you get shaken out even if the tape hasn't moved against you. Place them too loose and risk management gets tricky. Would love your traders' insight. Best trading series from SMB bar none! And thanks!
Thanks again for the awesome content. Very encouraging to know that this young man has reached a milestone Scalping. Very impressive, would like to see more videos like this in the near future. Thanks again Mike!
thanks a lot! waiting for the next milestone, that pizza is sounding pretty good
noted and thxs
Hi. Thanks for the awesome video! what is the name of that volume indicator your using on TOS?
Mike and all the guys at SMB capital may I just say thank you.
Splendid content once more, with some absolute gold nuggets of mindset as the cherry on top.
It’s great to see your structured and methodical approach to every day with a short/long game plan, it really sets the traders up and helps novice traders like myself understand that professional day on day focus.
This really calls out all the parasitic BS trading channels on RUclips and shows them for what they are.
Plus who the hell orders fried chicken sandwiches from a bbq place, have a word Mike.
Many thanks from across the pond.
Really, great video. Great scalping and just amazing flip, right in proper timing. Thanks for video, guys. Very interesting to see next video about risk management for scalpers at SMB with stop lost.
yes terrific open mindedness by David. good mindset to implement in our trading
I love and appreciate your helpful and educational videos.
thx Allen!
Question to Bella. Mike, when will we see some your trade? It's really interesting to watch some trade review from you. To show us maybe some tips, tricks. How do you look at the market, how do you manage your trades. Video with you 100% will get a lot of views and likes! :)
I saw previous videos, but interesting how do you trade today.
great education... what is the "tape"? Is it "time and sales" feed or DOM?
Interesting point made here: Scalping early in the day enforce you to be on top of your game paying
attention closely to the order flow - tape.
Slow down later in the day, opens up your brain without the fight or flight scalping mode.
Thanks guys!
you bet
What time do you trade?
I don't scalp as much anymore BUT TSLA and SPCE have definitely been very active lately. I usually try to find good momentum stocks in 1 direction and try to ride it as long as possible. If you know what you're doing and u can handle the volatility of these stocks, you can do quite well. It's not for everyone.
well said Mike.
Favorite trades this week were long ENPH and SEDG. Passed my own milestones
do you use a scanner to find such stocks ?
Vinod Shankarappa no
well done Chad! on to the next one.
So much value! My god.
Hello, I really enjoyed this video. Is there a platform that is best for scalping. The paper trading scalps on TOS have been clunky at best. Thank you!
Thx for this new video, these scalping and tape reading videos are turning me into a day trading beast lol.
I have a question on scalps over low volume assets by reading the tape, have u guys done some recently to put up in a video? I'm sure it will help traders at other countries as well.
our traders stick with stocks that have good volume in them - we try to avoid the low volume ones
@@smbcapital Got it! Thanks
Thank you very much for the insights. And congrats on your progress! Would you please share how you set up the volume bares like that on tos?
see above
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
Once again, an amazing presentation. Felt like I was giving the presentation myself because with hours and hours of practice, you actually can start to notice when the tape is signaling you of potential trades. I was able to make such trades all day today on TVTY and some on SPCE. First on the immediate TVTY breakdown and holding all the way down towards my first target (13.80 to 12.87). Then again right at 12:36 to the long side when the tape was red but held on the bid at 12.85 to 13.05, I took this trade only because yesterday I did the opposite on another stock with the same tape/level II action (SGMS) and I got burned but covered almost instantly. Then shorted again at 1:39 from 12.95 to 12.58, I covered way too early. Then finally long from 12.05 to 12.40 right before the close since I was expecting some action around 12.26. The gentleman who gave the class on scalping part 1 and 2 said something that stayed in my head a few days ago. He said "peripheral vision" when referring to how he keeps an eye on the tape and his focus on the speed/color instead. That resonated with me, I applied it because focusing too much on the tape and the numbers often gave me tunnel vision. Proud to say it worked this week so thank him for me!
Thanks for adding more tape reading content btw. A class on volume profile would be great! Thanks in advance!
you can start to notice signals. it is a skill you can develop Luis. good observation
I trade the FOREX majors on a 1min chart with various EMA's depending on the pair. I enter based on the technicals and a crossed EMA. I exit again based on the technical and an EMA crossed with a candle body not a wick. If a wick is crossed I will wait for the next candle for confirmation. My stop is placed either according to technicals or at the EMA upon entry (ether way they are very tight stops). If I don't see the desired movement right away I get out quickly, e.g., sideways crawl, strong candle printed in the wrong direction, double crosses EMA, etc. I will use from 5% to 20% of my account per trade (yes, 20% is high, but my eyes never leave the price action while the trade is on and my stop is tight so no need to worry). I appreciate your videos and am developing an interest in SMB.
Looks awesome!
Which study are you using to produce the volume bars that break out the buying and selling volume into red and green portions of the volume bar?
Nice!!!! I've also been having fun scalping TSLA! past two weeks!
LETS GOOOO!!!!!!!!!!!!!!
Let's Go!!! THE CHAD IS STRONG 💪 We are everywhere! God bless!
@@daniels7913 Love seeing chads in here! on SMB's page!
fellow snipers!
Train and Trade Well!
LETS GOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!
LFG!
Awesome trade!!!
Another great vid! Thank you :)
you are welcome Jackson
Awesome video! How do I set up that volume script to show how many transactions happened at the bid or ask on TOS?
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
Hi Mike, amazing content as always. I have a question on execution. Since everything moves so fast on the open, what is the best way to enter and exit your positions? Do you enter a short by putting an offer or simply hitting the bid. And do you cover your short by paying the offer? Thanks!
if you want to get into something right away then paying or hitting the bids is generally what our traders will do. For exits traders tend to be more precise in where they want to get out and are always controlling their risk so they may be taking off size throughout the trade
thx Mike!!
you bet my friend
What does read the tape mean?
Hi Bella, for this trade was long term level not used? Even seems preopen levels were not used for entry, when after shallow pullback short was flipped to long, why not to wait for it to cross pre open resistance first before entry? Have read in your books that generally it's not good idea to buy immediately below resistance. Thanks in advance!
Do you have a list of these benchmarks that you reference at approx the 5 min mark?
I'd love to use these if possible.
Thank you
I'm curious to know if you guys do channel scalping? If you guys do, would hope to see a video on that. Really enjoying the scalping series. Thank you for making the videos!
We are likely to do more scalping videos in the future - they have been well received so plan to do more of that
we do more momentum scalping Brian.
@@mbellafiore19 Okay, got it. Thank you for your the replies. Is it possible to have an interview with Swang someday? Would love to hear his insight on preparation, process, best practices as well as mindset when it comes to scalp trading.
Whoa I love that bid/ask feature on the volume bars
Yeah me too! Any idea where I can get that? Is it a script for sale?
14:00
Definitely curious how to add this as well. Looks very useful for reading buying/selling pressure.
Will ask David to provide some more details on how he gets the bid/ask Feature for volume bars and reply back!
SMB Capital thanks SMB. Love you guys
Thanks
Thks 4 vid
High love your channel. what is considered an avg/decent return on your money everyday as a scalper? I have averaged 1.25% per day on winning days, and then of course give it right back on a tougher day. I am happy to be "winning" trades, but was hoping it would return closer to 3 or 4% per day. Can you let me know a typical average % gain per day for a trader? I cant really tell if im underperforming, or if 1.25% is as much as I can expect. In which case Id need to fund the account more....and then if 1% is average, then I wonder why dont I just invest in ARKK or some stock like that and save my time...any advice is appreciated thanks again,
Erik
How do you make your volume look like that on TOS?
How do you guys calculate your risk? What's your process?
Question, if you always leave 1 share on the table while switching from short to long/long to short, is it still technically considered 1 trade?
For your last trade on the day, Did you hold your position long thru the close of market or sell out before market closed? And next question, do you ever or perhaps only rarely carry over your position to the next day when scalping? Thx
The trade was closed out and if the trade is a scalp is wont be held overnight. We do have traders hold Tesla overnight but they usually have their positions hedged with options
I would like to see this LIVE, and your P/L Statement, if you really want to people to buy your products then lets see your TRADING LIVE over your shoulder while your in the moment. It's very simple to talk about a trade after the fact, when you have RISK on the line that's an entirely different world. . . Thanks for the little bit of knowledge that you did share . . .
This may have been a question asked before but how do you setup your volume bars in that way in think or swim? Thanks for any help you can provide.
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
@@smbcapital Thank you for the quick response and link to the script for TOS. Definitely helps out. Your scalping videos have helped out a lot with setup and in trade management. Look forward to enrolling in a seminar. Thanks again.
@@smbcapital Thank you.
can you please ask this trader what the code is for his volume section. absolutely golden!!!!!
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
can anyone tell me what 1 momentum lot is equal to ?
Are you scalping with options?
How did david change his volume bars to show buy and sell colors in one bar?
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
Great trade breakdown! One important point this trader made is that he was watching order flow with a special Volume Bar Indicator on Think Or Swim, what setting was that?
See the Pinned comment Tony! link there for the volume bars for TOS
@@smbcapital Thank you, not seeing any pinned comment here anywhere. Pls advise. Thanks again
why use VWAP vs Bollinger Bands?
Anybody know how to translate the code to pinescript so it would work on TradingView?
I trade the Dip n Rip every morning :D
thxs for sharing
I do the same with oil as a retailer trader.
a good market to play lately
Hi, im wondering how does SMB set VWAPs? Struggling to find out what number of periods are most commonly used, could you help?
it is on our in house system. we use intraday. some guys set for PMKT. more prefer from the open. and 2 day VWAP and anchored VWAP worth learning
@@mbellafiore19 Tried some different settings out on my platform and saw VWAP wouldve been great indicator on SPY today. Can't access anchored VWAP on my platform but looked into it and seems good for anchoring to catalyst events and such, thanks for taking time to reply!
How to set volume bar like this?
ruclips.net/user/redirect?event=comments&stzid=UgwYayZAHan25bqChjx4AaABAg.98cGM8MM6zt98dg8B71vtd&redir_token=QUFFLUhqbkNaZnFFbWF2TjhON3JXY3REWFI2XzJ4UG85UXxBQ3Jtc0tuc0tVd0l3TGtQZnh5S2hLV2FVdXpaNHdWa1pKQTR3OHNjSXVUYUd3XzFrU3pqeWNNbTdnTzlQLWZ4ZXpRdHpwQWoxMzRrRmdPM19hZVZpcW9pUnNrMzZzb2NpNkZDdWg4OW9qb2k0OGFOMWk3bWVqaw%3D%3D&q=https%3A%2F%2Fwww.smbtraining.com%2Fblog%2Fa-script-you-can-use-for-your-volume-indicator
Good Video....but I have 2 important questions for mike please....1 Relative volume- 2.7 ok. Avol -13.14M but Premarket Volume -2.5M...my math can't arrive this answer becose 2.7RVol * AVeragevolume13.14m= 35.48 M...Do I wrong?? QUESTION 2: in others trading chanels for scalping they said better float is < 50M but you trade with 142.47M....I am confusing....what is the true?
Need help on how to read tapes. Watch many videos. But really get it
check out the recent scalping videos we did, we have some tape reading in part 2 of those videos
takes time. record your screens and practice rewatching key inflection points
@@smbcapital thank you. BTW. Tape Reading includes both level 2 and time and sales right?
I love one Good Trade .. is any here in the World Seires of Trading my Trade net ?
thxs Cobra
Great video as always. On this particular day, was he trading solely TSLA or other stocks too? Many thanks
what chart platform was he using that shows the buy& sell on the volume?
Rosemarie Rita he’s using think or swim. But I also seen that on other software as well.
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator It's TOS
@@andreclark2472 Thank you so much for your response i really appreciate it!
@@smbcapital Thank you so much for your response i really appreciate it!
Anyone know how to show the volume like that in TOS like it is @ 14:00?
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
SMB Capital Got it. Thanks a lot!
OK, now I need to ask a real question here:
How to set up volume like that? (To see how much of it was on bid & ask)
I've always wanted to have this information....
Damn, I won't be able to sleep now. I have to know this
Szymon L. I’m not sure if this will answer your question, but there are a couple videos on YT about custom volume scripts for TOS. 1 has a link too
www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
SMB Capital thanks guys! You guys are awesome, it truly great what you do for traders community!
🤯 right?? Thx for the script SMB!
@@smbcapital Thanks so much for sharing this! SMB is the best!
❤
thxs Andrew
What trading day was that? FEb 05?
Feb 4th I believe
Want to learn vwap trading
Do you guys look at only a few stocks at a time or are looking at more than 4?
Amber Ali it depends what they see, what they are watching and what moves they fleshed out earlier. Scalping requires complete attention, if that is what you are trying to ask
Yes it is - I am asking in order to "focus" how many maximum stocks do you look at ? I sometimes get overwhelmed with looking at more than 2 :)
Amber Ali okay, yeah just 1 at a time with this particular strategy. Can’t take your eyes off the chart especially after buying because the trade itself can potentially done in minutes. If you miss a que, you might mess up
at the start developing traders start with a few and earn the right to trade more. slowly they build their bandwidth.
Before you invest a lot of money in a training course buy and sale ten or 20 times stocks . Judt one share at a time . Watch the market go in the opposit way as your purchase . . It will work like that every time
Nice. And great hair to boot
thxs Chad.
How much did the junior trader make for his milestone?
I miss the days when TSLA would bounce $25+ every few seconds. Hope it returns soon.
there will be other stocks that offer similar opportunity- Stocks In Play
we welcome that as well
Just did
When I trade TSLA, if I am not taking profit and reload, reload... I would be stuck. Just like today's late day squeeze... Got stuck, and give back a tons of profit....
need to be quick in a stock like Tesla
@@smbcapital Right, but I decided to avoid it altogether.
Do better than before? you get a cookie.
(In skydiving, when a 'first' is done its a case of beer by the achiever)
and a paycheck
@@mbellafiore19 hehe i used to laugh they would actually pay me to jump out of planes all day.
Scotiabank used to send the new rookies in the risk management dept to come do a solo jump. lol.
I can't short TSLA because Elon Musk is here to save us do based on that... can't do it. I would short an orphanage before I would short TSLA lol. Does that make me a bad guy??? And how did you change the colors on the volume bar to show where are there more bids then offers? I didn't know you could do that on TOS. Great trade btw.
Chart Settings (the gear icon next to the beaker icon) / Appearance / Common (bottom left) / Volume bars: Color as symbol ticks. This makes the volume bar the same colour as the price candle (red or green).
@@JayeHK thanks but I'm looking to see if there are more buyers than sellers. So each candle should have two colors
there are always the long scalps. Spencer been bullish on TSLA since 180 FWIW as you can see in his videos.
@@mbellafiore19 I think he bought options at 180. He's still holding onto them?
This is called over trading. Flipping that fast messes with your thinking
i'm at the 5k mile stone
get there Jack and let us know when you do please
@@mbellafiore19 My apologies, I meant I've already hit the 5k mark. My next mile stone would be to hit the 10k mark! Will keep you guys posted :)
@@ErikTheCooky look forward to hearing about you hitting it!
Scalp with options..
gottcha
Now I'm Hungry ;)
me too
Been making 10k each day for the past week trading on thinkerswim paper money.... am not gonna say it’s easy, but I have some problems like not recognizing certain patterns quickly, but once you know what you are looking for you can make good money...
Learn 3 trading strategies here: smbu.com/mike
Get the Script for the volume indicator mentioned by David www.smbtraining.com/blog/a-script-you-can-use-for-your-volume-indicator
screw the chicken sandwich lol.
I went with the ribs myself.
Chicken sandwich is definitely better.
Who is the bald guy in the video? He is super annoying and not helpful AT ALL! He keeps interrupting the guy who actually traded TSLA and throwing his unrequested 2 cents here and there like he is the master. Let the guy who actually traded it finish this talk!