{"id":34822,"date":"2013-12-22T09:08:21","date_gmt":"2013-12-22T14:08:21","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=34822"},"modified":"2023-04-13T09:36:29","modified_gmt":"2023-04-13T13:36:29","slug":"trading-lesson-fade-trade-tsla","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/trading-lesson-fade-trade-tsla","title":{"rendered":"Trading Lesson: Fade Trade\u2014$TSLA"},"content":{"rendered":"<p>Tesla has demonstrated itself to be one of the very best short term trading vehicles in 2013 (no pun intended). After putting in an all time high above 190 it has presented numerous setups on both the long and short side.<\/p>\n<p><strong>READING THE TAPE<\/strong><\/p>\n<p>This trade began as a \u201cpattern recognition\u201d trade but morphed into a \u201ctape trade\u201d as there was a clear\u00a0seller on the tape. Traders who develop this skill are able to better manage risk and improve their results.<\/p>\n<p>I initiated my short position just below 155 based partly on a pattern I saw developing on the 30 minute chart, and eventually adjusted my \u201ctrade management\u201d to account for the identifiable seller on the tape.<\/p>\n<p>Profit targets were based prior days\u2019\u00a0<a href=\"http:\/\/en.wikipedia.org\/wiki\/Support_and_resistance\">support and resistance areas<\/a>\u00a0and discussed in the video review. Sometimes trades go worse than expected but sometimes the results are much better. Trading is a game of probabilities so we just put positions on and then manage them based on the evolving facts on the ground.<\/p>\n<p>CONCLUSION<\/p>\n<p>If you have any questions about this setup, please leave them in the comments below and I will answer them.<\/p>\n<p>Are you trading this sort of \u201cfade trade\u201d?\u00a0 How have they been working out for you?\u00a0 Tell us your experience or ask questions if you have them and I\u2019ll answer them in the comments below.<\/p>\n<p><span style=\"line-height: 1.5em;\"><a href=\"http:\/\/twitter.com\/sspencer_smb\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"\" \/><\/a><\/span><\/p>\n<p>Steven Spencer is the co-founder of SMB Capital and SMB University which provides trading education in stocks, and options. He has traded professionally for 17 years. His email address is: sspencer@smbcap.com.<\/p>\n<p>No relevant positions<br \/>\n<a href=\"https:\/\/tradingworkshop.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-42831\" src=\"https:\/\/www.smbtraining.com\/blog\/wp-content\/uploads\/2023\/03\/smbwebinarsignup.jpg\" alt=\"tradingworkshop\" width=\"600\" height=\"300\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla has demonstrated itself to be one of the very best short term trading vehicles in 2013 (no pun intended). After putting in an all time high above 190 it has presented numerous setups on both the long and short side. READING THE TAPE This trade began as a \u201cpattern recognition\u201d trade but morphed into a \u201ctape trade\u201d as there &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/trading-lesson-fade-trade-tsla\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,7,8,1373],"tags":[361,727,3661,38],"class_list":["post-34822","post","type-post","status-publish","format-standard","hentry","category-general-comments-2","category-reading_the_tape","category-steven_spencer_steves_blogs","category-trading-lesson","tag-fade","tag-lesson","tag-tradetsla","tag-trading","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trading Lesson: Fade Trade\u2014$TSLA | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/trading-lesson-fade-trade-tsla\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trading Lesson: Fade Trade\u2014$TSLA | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Tesla has demonstrated itself to be one of the very best short term trading vehicles in 2013 (no pun intended). After putting in an all time high above 190 it has presented numerous setups on both the long and short side. READING THE TAPE This trade began as a \u201cpattern recognition\u201d trade but morphed into a \u201ctape trade\u201d as there ... 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