Quick profits on the open from Tape Reading (5G stock)
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- Опубликовано: 5 ноя 2020
- Do you ever wonder how professional traders can make quick money right on the open of trading? Learn the top 3 trade setups we are using on the desk here: smbu.com/mike
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I really liked the part where you noticed the wicks at the .50 level and it not being able to push down lower. Great anticipation, and well executed!
MIke interrupts all the time this video, please let him continue. Its not necessary all your comments.
Really insightful video Mike and Matt. What feels great is after reading your books, diligently following it in my trading daily and supplementing by watching the videos now I was able to identify that there's something changing on tape when it rebid 142.5 from 141.9,just before Matt said he covered and reversed. Thanks for all this knowledge!
Beautiful trade ..well executed by Matty.
I like how you shorted once covered when it came back to 146...then re-entered a short again..great scalp ! Where are the buyers! Good point .Dip And Rip.
You little Ripper!.👌
Another great video, so much to learn and I really appreciate the commentary on your real time mindset, layering in the exits. Also Matt seems so confident....clearly he's working really hard all the time. Thanks!
This young lad became my trading teacher even he doesn't know about it :) great job
we'll let Matt know!
This is really well done. Overall great explanation and you two really work well together to cover all angles.
Thx Steven!
PS.Couldnt lower good point Mike..I actually understand what you actually talking about! They were trying to push price to that lower level below ..didn't budge.A little knowledge is becoming dangerous for love..love this trading.
NET was a perfect example of this dip & rip today off of earnings. Fell into S1 and never looked back.
U guys are amazing , plz make more of these videos
Thank you Mike. Please do a Futures trade review that would be great to watch . Thanks again.
One of your best videos so far.
I would not bother holding on to the 15 shares (short) so long when the stock turned at the bottom, but rather focus my attention on how to start a long position for the rip.
These are the plays working in this current market environment - could change in the future though
Lol, thanks for telling the pros how to do it.
Really insightful, thank you for sharing your thought process.
Glad it was helpful!
Superb video, would like to know what other variables do you look for in a Dip & Rip setup?
Similarly, I traded baba this session after 279 immediately rebid above 280 and held after morning consolidation. It was my 1st earnings play or reaction to an earnings event
Nice trades and a great video. Before I'd heard this called a dip 'n' rip I had a play called Bottoms-Up, cause if you can catch it both ways drinks should be on you.
nice one George!
dip & rip is great, thanks
Quick thoughts from the couch...feedback welcome, At 4pm on the close previous day use the simple 5,9,13 MA's on the 1Min/TF notice when these 3 averages come together like they are almost one they "pinch" causing a significant price pop to the upside - work this move in this market. Moves off of these averages, in the right names create a lot of energy to the upside and will cause solid stocks to trend. This setup will also repeat itself in strong stocks, confirming strength to the upside. At 7:58 pm you will see where it happens again. Why did we sell this? When the right chip stocks enter their super cycle and we are in @ the right # in the right name we hold....develop the macro. Long $KLIC, $QCOM & $PSTG. Thank you both for sharing. Mr. Bella I could use some work!
CRON did this exactly yesterday. Caught that beautiful dip long after it reclaimed vwap
That entire sector was very in play. Nice trade!
Mike, thanks for this. Note, i believe, that you said you say folks buying the bid which indicated a reversal. How do you determine its be bid being bought and not the ask? Thanks and sorry for such a basic question.
thank you
Welcome!
@SMB Capital ... you mentioned seeing strong buying at the bid to indicate a possible reversal on the dip and rip setup. Since prints on the bid are red and indicate short/sell, how exactly do you identify buying at the bid on the tape ... or are you just referring to large bids building up on the Level 2?
awesome!
Thx Noah
Could you make a video on using ATR for intraday swing trades. Thanks very much.
12:17 "we're down over an ATR move off the open"
Quick question: when using the ATR, in the bigger picture, aren't you playing off of some type of news catalyst (e.g., earnings) that isn't present in previous days? If the average is derived from data from multiple days in which prices are not fluctuating as heavily, does using ATR make sense when trading on a day with news catalyst? I expect volatility to be dramatically higher on a catalyst day than the ATR derived from slower days.
I'm most likely missing something and I'm sure there's good reasoning behind it, but I've always had a question on it from watching your other videos. Thank you!
Good question
Dip n Rip one of the best and most profitable strategies!
we love it
класс, спасибо! посмотрю следующий видос))
Great job, are you using market order or limit order ? Are you using stop loss?
Yes Matt was using limit orders for his stops
How do you identify an inflection line?
Great video!! You mention at 16:43 "What happened was at 143.50 they really hit it hard to try and push it below that 143.50 area", are you referring to sellers trying to lower the offer? thanks!
I believe he means that the sellers are hitting the bid, keep selling on the bid, yet the bid can hold and does not step down. Meaning the buyers are so strong that they just keep aborbing the sellers.
@@TheElborso Thanks, but why would sellers want to lower the price they sell at? they should aim for the opposite right? Are these big sellers who want the price lower so they can rebuy and ride the stock higher?
@@Lonor77 I believe because a lot of them are trying to get in short, meaning they will hit the bid so they get filled. And they want to hit the bid so they can break the level of buyers. Once they break a bid thats so strongly hold like here, it often leads to a flush down and a quick profit. However when the buyers are very strong, as in this instance, they will hold the level.
I do not know if there is a big seller who wants the stock to trend lower so he can buy back lower. May just be a big short seller.
Traded pullback from 147.00 on midday.
For L2 which software is used?
hii mike you always encourage newer traders like me to put limit orders but watching many tape reading video i dont see anyone adjusting there price they only enter quantity, is there any kind of adjustment in your software oR they hit best bid or offers by using limit orders
Most are using limit orders. Traders can adjust the limit price with hot keys so it's very quick for them
Lost money trading a re-test of the low when stock consolidated below vwap. Will keep a bigger picture mentality and better eye on order flow going forward , thanks for the insight guys!
Max has the most video time for smbcap ever since this covid came to scene.
Do you mean Matt? :) Max is close second though!
What program for the tape?
We use our own in-house software
How do you get a big order to be highlighted in black on the L2?
our software has an option to adjust the formatting - not sure what platform you are using but you can usually mess around to highlight orders over a certain size.
@@smbcapital cheers for getting back. I am using DAS. I’ll have a play around and see if I can find an option for it
What software and trading platforms are being used in this video? What would someone use at home?
TOS charts but we are using our own in-house platform for order execution
Trading is like other professions. You people can not learn while watching videos , but observing the market. Every thing available on nasdaq web. No software needed.
We have found our traders perform better when they go through our training first but of course screen time is the only way to truly learn. Having a foundation is very important though
What's with the blurry sections of the screen. What are you hiding?
thats order information / share size. Compliance department will not let us share that info
Excuse errors typing too fast getting excited.