Between this and just finishing the “Reading the Tape” chapter in One Good Trade, it’s finally starting to make sense. My tape review is better and I literally took all my trades so far this week based on the tape. Thank you! 🙏🏾
Ever since I started watching SMB videos, I re-watched and analyzed tape of the best setup of the day, every day. I still do it every day and have no intention of stopping that habit. Today I did CVNA breakout over 30 (and also traded that.) Thanks to the tape reading sessions, I was able to catch that CVNA breakout and many others like it. So, thanks to SMB for showing me that this was an important skill to practice and develop!
@@alphaomega6497 One of the more important thing they speak and to show, is the support (when go up) that you can see on the tape. You can see it on the tape when the bid is strong and bid up and/or re-bid. For example at the beginning in the rise, the tape went down and range between .28 and .50, but each time the bid went down to .28/.27/.29 it re bid rapidly to .3/.32 and bid up until .45/.5. That mean the buyers are there and not leave the stock to go down. Same in the opposite way. Much important as the coach explained, it's not only to recognize this, but have the ability to enter the trade as soon as we see (the student saw this at 0.3, but didn't take the trade, it took just at .70 i think) that and develop an strong habit with this, and have the right tool (short key) to put this in action.
@@alphaomega6497 Here is my system for analyzing tape. Start by writing down exactly what you're seeing, particularly at key levels you've identified on the chart. For example, notice how many times the buyers re-bid to a particular level, even when there is selling into those bids. That could be an indication that buyers have taken control of that level (i.e. support). Another example is to notice when an offer does not lift, even to the penny, despite massive orders taking the offer (i.e., $25.00 being printed hundreds of times without lifting to 25.01). That is a signal of a very large seller. Once you understand certain patterns and behaviors occur over and over, start classifying them and scoring them like they do in this video. You can start that system with this video. Hope that helps!
For those asking, you hear it often referred to as "reactive/short-term liquidity". Bookmap videos will visually show you on a chart. Its way too tough for new traders to catch on a tape.
I really like this format of videos. I could really put myself in the traders shoes having similar hesitancy. I think it would be great if you do more mentor/student video breakdowns. Thanks! Signed up for your webinar and purchased One Good Trade.
I've been following SMB's youtube videos for quite a while and I have to say they get better and better (or I just understand more and more). So thanks SMB! The recent trend day and exit strategies videos were great material! I've also had a look at their courses but actually I'm not sure if they are still up to date or if I'm just better off watching these videos here. Also it's not clear to me which of the available courses are actually the most complete ones. It seems there's some overlap between the SMB foundation on one hand and the DNA and winning trader courses on the other hand. Anyone has some experience with either of them?
Thank you so much. You know what i want and id even pay for it？ a video catalog that has tape and chart recordings from playbook trades like opening range break etc.
I see something totally different. 6.27 for the short, but maybe half or a quarter of their position. But I see a strong hold at 6.19 a bunch of orders came in at that price, with a bottom wick at 6.16 for like 1.25 seconds then explodes 2 cents past 6.27. 6.29? More orders came in at 6.29 than at 6.19 then it really took off.
Very much appreciate the video! But would really consider recording in better quality for videos like this with fast moving bid/offer and tape. Even set at 1080P its quite difficult to read when they start moving. The rest of the video quality is more than adequate. Just the bid offer tape screen recorder is too blurry :/.
Hey you keep making videos about take trading and the quality of your candidates will increase dramatically. As many tape reading videos as you can pump out, plz
I really appreciate your vids, but with this can you do a slow mo of what’s I’m supposed to be looking at with arrows pointing at key levels numbers etc. If you could show me using crayons might help 😉
above the level ll and below the level l is a price x a number (example 6.57 x 21) above both Bid and Ask is this field an accumulation of order book at that price. It appears that this is where the focus of the educator and student are following. I have never seen this feature anywhere on a level ll platform before. Is that SMB proprietary software. Thanks
This isn't really a good lesson for the beginner since there is no context in the beginning of what type of market, was it "hot" or "cold", with what type of catalysts etc. Had this been a cold market and the stock had halted, the likelihood of it blowing off immediately after the halt and striping down would be very high....so for a new trader or any for that matter that is seeing what is going on day by day basis of a cold market environment would've been wiser or at least very alert of taking that trade after the halt....
How can you possibly read something that moves so fast, feels like trying to count raindrops/ matrix code? What am I missing please, I need to get this
Hello guys. Could someone please explain what was important in that 6.30 level he wws takkng about that he missed a trade . I didn't understand what signs did the tape show that was greenlight to enter at that 6.30 level 2:34 .
It’s easier to just see the bids stepping up on the lvl 2. You will notice once it went to the .20’s and low .30s bid sizes went way up. And on the tape they were being executed so everyone knew that is a great lvl of support to get in for the next leg up.
This isn't really clarifying anything. Why not take two minutes to explain what we are seeing? That would make such a difference to the viewers who don't have access to lvl2 data Great traders don't automatically make great teachers.
Between this and just finishing the “Reading the Tape” chapter in One Good Trade, it’s finally starting to make sense. My tape review is better and I literally took all my trades so far this week based on the tape. Thank you! 🙏🏾
Excellent Clayton!
So how is that going one year later?...
"I want more videos like this, please. It would be great to have two or three videos on this type of content about Tape Reading."
we will try to get more of those out
Ever since I started watching SMB videos, I re-watched and analyzed tape of the best setup of the day, every day. I still do it every day and have no intention of stopping that habit. Today I did CVNA breakout over 30 (and also traded that.) Thanks to the tape reading sessions, I was able to catch that CVNA breakout and many others like it. So, thanks to SMB for showing me that this was an important skill to practice and develop!
I’m not sure what I’m looking for? Or what they are seeing? Is it just more bids than sells? An imbalance...any advice would be a help
@@alphaomega6497 One of the more important thing they speak and to show, is the support (when go up) that you can see on the tape.
You can see it on the tape when the bid is strong and bid up and/or re-bid.
For example at the beginning in the rise, the tape went down and range between .28 and .50, but each time the bid went down to .28/.27/.29 it re bid rapidly to .3/.32 and bid up until .45/.5.
That mean the buyers are there and not leave the stock to go down.
Same in the opposite way.
Much important as the coach explained, it's not only to recognize this, but have the ability to enter the trade as soon as we see (the student saw this at 0.3, but didn't take the trade, it took just at .70 i think) that and develop an strong habit with this, and have the right tool (short key) to put this in action.
@@alphaomega6497 Here is my system for analyzing tape. Start by writing down exactly what you're seeing, particularly at key levels you've identified on the chart. For example, notice how many times the buyers re-bid to a particular level, even when there is selling into those bids. That could be an indication that buyers have taken control of that level (i.e. support). Another example is to notice when an offer does not lift, even to the penny, despite massive orders taking the offer (i.e., $25.00 being printed hundreds of times without lifting to 25.01). That is a signal of a very large seller. Once you understand certain patterns and behaviors occur over and over, start classifying them and scoring them like they do in this video. You can start that system with this video. Hope that helps!
We are happy to help!
@@NonAstrologer1so true
These videos where you all talk through examples with traders has helped me refine my trading process more than anything
Awesome! Glad to here
Wow. Please more videos like this. I've been subscribed to this channel since day 1 and it just keeps getting better. 🔥
Much Appreciated Billy!
For those asking, you hear it often referred to as "reactive/short-term liquidity". Bookmap videos will visually show you on a chart. Its way too tough for new traders to catch on a tape.
I really like this format of videos. I could really put myself in the traders shoes having similar hesitancy. I think it would be great if you do more mentor/student video breakdowns. Thanks! Signed up for your webinar and purchased One Good Trade.
I've been following SMB's youtube videos for quite a while and I have to say they get better and better (or I just understand more and more). So thanks SMB! The recent trend day and exit strategies videos were great material!
I've also had a look at their courses but actually I'm not sure if they are still up to date or if I'm just better off watching these videos here. Also it's not clear to me which of the available courses are actually the most complete ones. It seems there's some overlap between the SMB foundation on one hand and the DNA and winning trader courses on the other hand. Anyone has some experience with either of them?
Thx! Please reach out to Rosie, support @ smbcap.com if you’d want more info
Thank you so much. You know what i want and id even pay for it？ a video catalog that has tape and chart recordings from playbook trades like opening range break etc.
Something we might be working on
I see something totally different. 6.27 for the short, but maybe half or a quarter of their position. But I see a strong hold at 6.19 a bunch of orders came in at that price, with a bottom wick at 6.16 for like 1.25 seconds then explodes 2 cents past 6.27. 6.29? More orders came in at 6.29 than at 6.19 then it really took off.
great video thank you smb team really working hard on getting my tape reading down please post more tape reading videos!
Did you know how difficult is to find tape reading with examples?, Muchas gracias!!!!
I am learning a lot from the videos
Very much appreciate the video! But would really consider recording in better quality for videos like this with fast moving bid/offer and tape. Even set at 1080P its quite difficult to read when they start moving. The rest of the video quality is more than adequate. Just the bid offer tape screen recorder is too blurry :/.
This is the best recording the trader had unfortunately. Asked them to make sure the recording quality is better for future vids
@smbcapital wow the fact that you care and read my comment is awesome! 👌
What platform are you using?
Hey you keep making videos about take trading and the quality of your candidates will increase dramatically.
As many tape reading videos as you can pump out, plz
I have a question if you don't mind answering. Would you recommend that traders should only focus on one, either the bid or ask? Or a mixture of both?
I really appreciate your vids, but with this can you do a slow mo of what’s I’m supposed to be looking at with arrows pointing at key levels numbers etc. If you could show me using crayons might help 😉
wow he lucked out that it made such a big move because he sure waited a long time to enter. I'd be clapping after that move - "bravo UCAR"
Please do a video on managing risk on iron condor/butterfly/credit spread. Do u guys like use 3x stoploss or same day roll or next day roll?
Great video! Thank you!))
Thanks
above the level ll and below the level l is a price x a number (example 6.57 x 21) above both Bid and Ask is this field an accumulation of order book at that price. It appears that this is where the focus of the educator and student are following. I have never seen this feature anywhere on a level ll platform before. Is that SMB proprietary software. Thanks
Enjoyed video session! 😀👍
Why not use Bookmap instead of traditional Level 2?
That tape was MOVING
This isn't really a good lesson for the beginner since there is no context in the beginning of what type of market, was it "hot" or "cold", with what type of catalysts etc. Had this been a cold market and the stock had halted, the likelihood of it blowing off immediately after the halt and striping down would be very high....so for a new trader or any for that matter that is seeing what is going on day by day basis of a cold market environment would've been wiser or at least very alert of taking that trade after the halt....
How can you possibly read something that moves so fast, feels like trying to count raindrops/ matrix code?
What am I missing please, I need to get this
Lots of practice! I think the key is seeing the key moments happen within the larger context
Why is the video on level two is lower quality?
nice educational video
would someone link that warm up, Bellas blog post he talking about at 18:40. Thank you
Hello guys. Could someone please explain what was important in that 6.30 level he wws takkng about that he missed a trade . I didn't understand what signs did the tape show that was greenlight to enter at that 6.30 level 2:34 .
It’s easier to just see the bids stepping up on the lvl 2. You will notice once it went to the .20’s and low .30s bid sizes went way up. And on the tape they were being executed so everyone knew that is a great lvl of support to get in for the next leg up.
@@longliveisraeltv thank you 🙌. Its to fast to notice them getting executed on the tape 🤯
What tape reading software are you using?
whats tape rating scale based on -10 to +10?
Sheesh thats fast tape
Can the tape be substituted for other order flow indicators like volume, volume profile, cumulative delta? What makes it superior
Footprint chart
i still don't understand how to read tape
gotta hand! SMB Capital!
What order is he using
Scalping is so hard especially tapes are so fast to read it
need a lot of screen time to get good at it
🎉🎉🎉
Wouldn't hot keys on the montage be quicker
why is the red prints on the tape blurred out?
Trader could have recorded in a higher resolution
@@smbcapital the buy prints are clear, the red prints are faded
if keystrokes are needed to be faster, why not use gamepads with usb because its faster than keyboard with limited combinations.
That’s been done before. A steam deck programmed to hot keys is also an option.
Most people use stream decks at this point, they’re all over TH-cam and I’m sure those guys are doing it
wheres Lance ? 😮
We have a 1.5 hour video coming from him soon
❤😊
This isn't really clarifying anything. Why not take two minutes to explain what we are seeing? That would make such a difference to the viewers who don't have access to lvl2 data
Great traders don't automatically make great teachers.
how can you use the knowledge and skills on level 2 if you do not have access to level 2?
Level 2 data is key to short term trading. Might need to find a better broker platform if you don’t have access
sorry guys. all after the fact anaylses are rubish. the minute you bought 6.30 would also be flushed by sellers at 6.50.