Lately we have been receiving many inquiries from our fellow readers wanting to learn more about tape reading. We are NOT ignoring your emails and comments in our blogs! Unfortunately tape reading is a complex and extended topic that cannot be covered in a handful of paragraphs. However, because of the high demand we are currently working on developing a training manual for tape reading exclusively. The manual will be available commercially from our site www.smbtraining.com in the very near future.
Some highlights about the program:
* Structured as a weekend crash course, the manual covers the basics of tape reading
* We cover (almost entirely) trading pre-market, the open and after hours.
* We discuss how to combine your chart reading and tape reading skills to increase your exposure in the market while limiting your overall risk. (i.e. finding plays where your risk is literally 1-2 pennies so you can take more size on the trade)
* We will offer a cheat sheet of what to look for in the level II for support, resistance, range and consolidation plays.
* We cover trade execution in detail for these plays.
* Learn from written lectures, video recordings of our actual trading with voice commentary, and test your understanding with the many quizzes.
We are hoping to have the program out in the next couple of weeks. We look forward to your comments and helping you develop as a more rounded trader.
Its a bit of a quiet afternoon here in the market. So I am off to work on some of the videos for this tape reading program. I will post a sample video over the weekend for a sneak preview. Enjoy your weekend.
16 Comments on “Update of the SMB Reading the Tape Program”
Excellent!!!! i am waiting anxious this book
Excellent!!!! i am waiting anxious this book
Do tape reading skills require the use of “directed trading” vs the use of time and sales info.
Do tape reading skills require the use of “directed trading” vs the use of time and sales info.
Alejandro – It is more than a book. It is a whole training manual with instructional videos, written lectures on learning to read the tape and much more.
Jean – Not sure what you mean by directed trading. Tape reading is about interpreting the time&sales combined with the information in the Level II (bids, offers + sizes).
I didn’t get a chance to work on the videos last weekend. Only got through writing a lot of the content. Will post a sample video as soon as I get started on them. – Gman
Alejandro – It is more than a book. It is a whole training manual with instructional videos, written lectures on learning to read the tape and much more.
Jean – Not sure what you mean by directed trading. Tape reading is about interpreting the time&sales combined with the information in the Level II (bids, offers + sizes).
I didn’t get a chance to work on the videos last weekend. Only got through writing a lot of the content. Will post a sample video as soon as I get started on them. – Gman
Thank Gman
Thank Gman
How about tape reading for the s & p minis
How about tape reading for the s & p minis
John – The concept of reading the tape can be applied to any tradeable asset that has these characteristics: the asset class is actively traded, has sufficient order flow from institutional players and good volatility. As long as you can have an active level II with time & sales information with the characteristics above then you are good to go. I hope that helps.
John – The concept of reading the tape can be applied to any tradeable asset that has these characteristics: the asset class is actively traded, has sufficient order flow from institutional players and good volatility. As long as you can have an active level II with time & sales information with the characteristics above then you are good to go. I hope that helps.
The trading platform I use has level II for Nasdaq stocks but not for stocks from the NYSE so this is a limiting factor. Do most other platforms offer this?
The trading platform I use has level II for Nasdaq stocks but not for stocks from the NYSE so this is a limiting factor. Do most other platforms offer this?
Jean – yes most platforms for professional traders offer a full level II for NYSE, NASDAQ and AMEX. It may be that it is just a matter of getting the correct data feeds. I would check with your current broker/platform provider to find out how to get a full Level II for all exchanges. Happy trading!
Jean – yes most platforms for professional traders offer a full level II for NYSE, NASDAQ and AMEX. It may be that it is just a matter of getting the correct data feeds. I would check with your current broker/platform provider to find out how to get a full Level II for all exchanges. Happy trading!