I received this question from Reader Viktor:

Hi, guys! I’m learning to trade, and i’m going to video record my tape. My questions are: what should i watch during my VRS of the tape? Bids, offers, size prints, mbe smth else? What exchanges should i watch in the box? During the trading day in active stocks among nyse, arca, inet, edga etc prints there are a lot of ADF-prints with 100 shares size and huge size, odd prices. i made a small research, those ADF prints are OTC prints, as I understood. Should I pay attention to it?

 

Bella Responds:

Viktor great job working on your game this weekend. This is the way to get better as a trader.

At SMB we use video recording of our trades two ways: a) we watch our trades back individually; b) we watch tape as a group. The advantages of video recording your trading and watching them individually are:

1) You gain more valuable screen time.
2) You find new A trades (your best set ups).
3) You notice how easy it is to trade when you remove the natural human desire to profit from a position.
4) You review A trades and learn whether you had enough size and held for a big enough move.
5) You spot trades you must eliminate.
6) You get better at Reading the Tape, which will help you make better trading decisions moving forward.

To answer your question specifically Reader Viktor, Yes!. We make trading decisions based upon three factors: a) Reading the Tape, b) intraday fundamentals, c) technicals. When I am Reading the Tape I consider the inside market (bids, offers), all of the prints, corresponding futures, who the buyer or seller is, etc. (If you are interested in learning how to Read the Tape, sign up here).

Thank you for the question. We are looking forward to receiving updates on your trading progress.

Enjoy the rest of the beautiful weekend.

Bella