{"id":50059,"date":"2020-08-13T13:40:58","date_gmt":"2020-08-13T17:40:58","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50059"},"modified":"2020-08-13T13:40:58","modified_gmt":"2020-08-13T17:40:58","slug":"a-senior-trader-reveals-two-quick-and-profitable-scalp-trades-in-hot-stocks-tape-reading","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/a-senior-trader-reveals-two-quick-and-profitable-scalp-trades-in-hot-stocks-tape-reading","title":{"rendered":"A Senior Trader reveals two quick and profitable scalp trades in hot stocks (Tape Reading)"},"content":{"rendered":"

Senior Trader, Ryan Hasson, shows video of two of his Tape Reading trades in hot stocks KODK and KNDI, with step-by-step analysis. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account.<\/p>\nView Video Transcript<\/strong><\/span>

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everyone so in this video i’m going to<\/div>\n<\/div>\n<\/div>\n
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be showing you<\/div>\n<\/div>\n<\/div>\n
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two traits two scalps whereby i’ll be<\/div>\n<\/div>\n<\/div>\n
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scalping momentum looking to be very<\/div>\n<\/div>\n<\/div>\n
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reactive on the tape<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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first stock will be kodak this will come<\/div>\n<\/div>\n<\/div>\n
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a day after the stock topped out at 60<\/div>\n<\/div>\n<\/div>\n
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and what we see off the open is some<\/div>\n<\/div>\n<\/div>\n
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resistance being met at around 44 the<\/div>\n<\/div>\n<\/div>\n
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day before we had a lower high around 45<\/div>\n<\/div>\n<\/div>\n
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and in the pre-market on the day we had<\/div>\n<\/div>\n<\/div>\n
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some resistance<\/div>\n<\/div>\n<\/div>\n
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around 44 80s up to 45. so right off the<\/div>\n<\/div>\n<\/div>\n
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open we’re going to be looking to see if<\/div>\n<\/div>\n<\/div>\n
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we can see resistance<\/div>\n<\/div>\n<\/div>\n
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being met near those levels and within<\/div>\n<\/div>\n<\/div>\n
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that area<\/div>\n<\/div>\n<\/div>\n
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that will be the first sign and check<\/div>\n<\/div>\n<\/div>\n
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that we’re looking for<\/div>\n<\/div>\n<\/div>\n
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as confirmation and then we’re going to<\/div>\n<\/div>\n<\/div>\n
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look for price to confirm that<\/div>\n<\/div>\n<\/div>\n
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looking for a big dip in the stuff and<\/div>\n<\/div>\n<\/div>\n
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that’s one scenario that we’ve<\/div>\n<\/div>\n<\/div>\n
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gone over to react very quickly so if<\/div>\n<\/div>\n<\/div>\n
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that happens then i will do this<\/div>\n<\/div>\n<\/div>\n
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the second trade we’ll be looking at is<\/div>\n<\/div>\n<\/div>\n
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in kndi this is a stock<\/div>\n<\/div>\n<\/div>\n
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that had a large push the day before and<\/div>\n<\/div>\n<\/div>\n
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how to squeeze after hours in the<\/div>\n<\/div>\n<\/div>\n
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pre-market on the day<\/div>\n<\/div>\n<\/div>\n
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and we’re going to look to see whether<\/div>\n<\/div>\n<\/div>\n
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it’s fomo and it’s just<\/div>\n<\/div>\n<\/div>\n
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people chasing and paying up the offer<\/div>\n<\/div>\n<\/div>\n
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because they think this could be the<\/div>\n<\/div>\n<\/div>\n
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next coda<\/div>\n<\/div>\n<\/div>\n
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or if the sellers are going to win this<\/div>\n<\/div>\n<\/div>\n
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battle and if we’re going to get a stuff<\/div>\n<\/div>\n<\/div>\n
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and reality is going to set in and in<\/div>\n<\/div>\n<\/div>\n
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doing so people<\/div>\n<\/div>\n<\/div>\n
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are left holding the bag at higher<\/div>\n<\/div>\n<\/div>\n
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prices and they’re going to look to sell<\/div>\n<\/div>\n<\/div>\n
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and hit the burn and get out<\/div>\n<\/div>\n<\/div>\n
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and this may cause some panic on the<\/div>\n<\/div>\n<\/div>\n
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downside<\/div>\n<\/div>\n<\/div>\n
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that is one if then for knd another one<\/div>\n<\/div>\n<\/div>\n
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could be well we could trap short to<\/div>\n<\/div>\n<\/div>\n
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reclaim v<\/div>\n<\/div>\n<\/div>\n
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while base above a certain price and the<\/div>\n<\/div>\n<\/div>\n
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one and two day view up and push<\/div>\n<\/div>\n<\/div>\n
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higher and perhaps have a push to 25 or<\/div>\n<\/div>\n<\/div>\n
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30. so we prepare<\/div>\n<\/div>\n<\/div>\n
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various if-then statements and then if<\/div>\n<\/div>\n<\/div>\n
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one of them play out we look to be<\/div>\n<\/div>\n<\/div>\n
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reactive and so these are the two stocks<\/div>\n<\/div>\n<\/div>\n
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we’ll be watching<\/div>\n<\/div>\n<\/div>\n
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and let’s see what happens so in this<\/div>\n<\/div>\n<\/div>\n
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tape recording<\/div>\n<\/div>\n<\/div>\n
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we’re going to be going over some traits<\/div>\n<\/div>\n<\/div>\n
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that i took and some scalps that i took<\/div>\n<\/div>\n<\/div>\n
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in kodak<\/div>\n<\/div>\n<\/div>\n
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and in kndi we’re going to see how i<\/div>\n<\/div>\n<\/div>\n
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reacted to the tape what i saw in order<\/div>\n<\/div>\n<\/div>\n
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for me to get<\/div>\n<\/div>\n<\/div>\n
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short and in order for me to cover my<\/div>\n<\/div>\n<\/div>\n
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position and<\/div>\n<\/div>\n<\/div>\n
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um it’s two fantastic setups very<\/div>\n<\/div>\n<\/div>\n
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similar setups<\/div>\n<\/div>\n<\/div>\n
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and so without further ado let’s jump<\/div>\n<\/div>\n<\/div>\n
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straight into it<\/div>\n<\/div>\n<\/div>\n
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at the bottom we have kodak<\/div>\n<\/div>\n<\/div>\n
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currently coming into an area of<\/div>\n<\/div>\n<\/div>\n
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resistance this is the day after it<\/div>\n<\/div>\n<\/div>\n
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topped out in<\/div>\n<\/div>\n<\/div>\n
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60s and let’s watch the tape<\/div>\n<\/div>\n<\/div>\n
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so we’re seeing kodak coming into 44<\/div>\n<\/div>\n<\/div>\n
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having some resistance<\/div>\n<\/div>\n<\/div>\n
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and it just failed at 44 and we could<\/div>\n<\/div>\n<\/div>\n
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not hold above we got a stuff pattern<\/div>\n<\/div>\n<\/div>\n
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tried to break over that area so now i’m<\/div>\n<\/div>\n<\/div>\n
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looking too short so i immediately short<\/div>\n<\/div>\n<\/div>\n
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and my stock would be 44 so i’m short<\/div>\n<\/div>\n<\/div>\n
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kodak we’re now 42 and i’m looking to<\/div>\n<\/div>\n<\/div>\n
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add<\/div>\n<\/div>\n<\/div>\n
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as we have confirmation of this<\/div>\n<\/div>\n<\/div>\n
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engulfing move offers have stepped down<\/div>\n<\/div>\n<\/div>\n
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bids or getting hit now we’re in 4150s<\/div>\n<\/div>\n<\/div>\n
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excuse these<\/div>\n<\/div>\n<\/div>\n
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stuck bid 4116’s bid 41 just broke below<\/div>\n<\/div>\n<\/div>\n
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41.<\/div>\n<\/div>\n<\/div>\n
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and now we’re coming into these<\/div>\n<\/div>\n<\/div>\n
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pre-market levels so i’m looking to<\/div>\n<\/div>\n<\/div>\n
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cover it’s a very quick trade and you’re<\/div>\n<\/div>\n<\/div>\n
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scalping momentum<\/div>\n<\/div>\n<\/div>\n
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if you want to learn three real world<\/div>\n<\/div>\n<\/div>\n
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setups that our traders use<\/div>\n<\/div>\n<\/div>\n
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including the simple setup that we teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders<\/div>\n<\/div>\n<\/div>\n
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and the setup that turned one of our<\/div>\n<\/div>\n<\/div>\n
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traders into a seven figure big money<\/div>\n<\/div>\n<\/div>\n
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earner<\/div>\n<\/div>\n<\/div>\n
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check out the free webinar that we’re<\/div>\n<\/div>\n<\/div>\n
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currently running just go ahead and<\/div>\n<\/div>\n<\/div>\n
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click the link that should be appearing<\/div>\n<\/div>\n<\/div>\n
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right now at the top right hand corner<\/div>\n<\/div>\n<\/div>\n
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of your screen<\/div>\n<\/div>\n<\/div>\n
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that’s going to open up this free<\/div>\n<\/div>\n<\/div>\n
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registration page in the new window<\/div>\n<\/div>\n<\/div>\n
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so don’t worry you’re not going to lose<\/div>\n<\/div>\n<\/div>\n
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this video you’re going to learn more<\/div>\n<\/div>\n<\/div>\n
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in a couple of hours from this trading<\/div>\n<\/div>\n<\/div>\n
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workshop than from<\/div>\n<\/div>\n<\/div>\n
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years of online education 41.<\/div>\n<\/div>\n<\/div>\n
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i’m looking to cover around 1 8 of my<\/div>\n<\/div>\n<\/div>\n
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position<\/div>\n<\/div>\n<\/div>\n
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just covered in 8th now down to a<\/div>\n<\/div>\n<\/div>\n
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quarter coming into the 40s and coming<\/div>\n<\/div>\n<\/div>\n
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into<\/div>\n<\/div>\n<\/div>\n
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some potential areas of<\/div>\n<\/div>\n<\/div>\n
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support in the low 40s<\/div>\n<\/div>\n<\/div>\n
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so immediately in over a minute<\/div>\n<\/div>\n<\/div>\n
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up already around three points now three<\/div>\n<\/div>\n<\/div>\n
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and a half points breaking below 40.<\/div>\n<\/div>\n<\/div>\n
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um covering more down to half my<\/div>\n<\/div>\n<\/div>\n
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position now as we come into support i’m<\/div>\n<\/div>\n<\/div>\n
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watching volume<\/div>\n<\/div>\n<\/div>\n
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i’m also looking to see if the bird<\/div>\n<\/div>\n<\/div>\n
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holds at this area<\/div>\n<\/div>\n<\/div>\n
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and we get some sort of buying in a<\/div>\n<\/div>\n<\/div>\n
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reversal which now looks like we are<\/div>\n<\/div>\n<\/div>\n
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seeing 40s hold<\/div>\n<\/div>\n<\/div>\n
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step below 40 39 78<\/div>\n<\/div>\n<\/div>\n
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39 50s and now down to a quarter of my<\/div>\n<\/div>\n<\/div>\n
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position<\/div>\n<\/div>\n<\/div>\n
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if we get above 40 now i’m thinking get<\/div>\n<\/div>\n<\/div>\n
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above 40<\/div>\n<\/div>\n<\/div>\n
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and hold above 40 i’m going to get out<\/div>\n<\/div>\n<\/div>\n
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of my position and i’m going to look to<\/div>\n<\/div>\n<\/div>\n
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either<\/div>\n<\/div>\n<\/div>\n
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shorter bounce or move on<\/div>\n<\/div>\n<\/div>\n
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while watching that i’m flicking through<\/div>\n<\/div>\n<\/div>\n
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some other names in play just to keep<\/div>\n<\/div>\n<\/div>\n
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tabs<\/div>\n<\/div>\n<\/div>\n
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with the overall market and some other<\/div>\n<\/div>\n<\/div>\n
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in-play low floats<\/div>\n<\/div>\n<\/div>\n
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3950s so we’re finding some support the<\/div>\n<\/div>\n<\/div>\n
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bids are stepping up<\/div>\n<\/div>\n<\/div>\n
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i’m still holding a quarter of my<\/div>\n<\/div>\n<\/div>\n
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position i just initiated a small short<\/div>\n<\/div>\n<\/div>\n
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position in k and di as well<\/div>\n<\/div>\n<\/div>\n
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as we had that breakout on volume and<\/div>\n<\/div>\n<\/div>\n
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failed to hold above those levels<\/div>\n<\/div>\n<\/div>\n
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covered a small amount<\/div>\n<\/div>\n<\/div>\n
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of kodak there and<\/div>\n<\/div>\n<\/div>\n
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now that we’ve got about 40 look at that<\/div>\n<\/div>\n<\/div>\n
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increase in volume<\/div>\n<\/div>\n<\/div>\n
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and look to get out very shortly as<\/div>\n<\/div>\n<\/div>\n
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that’s a reversal<\/div>\n<\/div>\n<\/div>\n
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kndi i’m short size<\/div>\n<\/div>\n<\/div>\n
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we’ve now tried to break out we failed<\/div>\n<\/div>\n<\/div>\n
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and now we’re consolidating in the lower<\/div>\n<\/div>\n<\/div>\n
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part of this range<\/div>\n<\/div>\n<\/div>\n
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just got flat kodak okay india is<\/div>\n<\/div>\n<\/div>\n
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consolidating<\/div>\n<\/div>\n<\/div>\n
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below 16 and on a break i’ll look to add<\/div>\n<\/div>\n<\/div>\n
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for momentum but i’m i’m short about<\/div>\n<\/div>\n<\/div>\n
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three quarters of the size that i would<\/div>\n<\/div>\n<\/div>\n
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like to have<\/div>\n<\/div>\n<\/div>\n
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in i so i just want to add one more lot<\/div>\n<\/div>\n<\/div>\n
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and play the momentum momentum on that<\/div>\n<\/div>\n<\/div>\n
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break<\/div>\n<\/div>\n<\/div>\n
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thinking that we do have the potential<\/div>\n<\/div>\n<\/div>\n
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to go immediately into a down<\/div>\n<\/div>\n<\/div>\n
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side hold kodak<\/div>\n<\/div>\n<\/div>\n
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that reclaim on 40 that increase in<\/div>\n<\/div>\n<\/div>\n
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volume that was the spot to exit<\/div>\n<\/div>\n<\/div>\n
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k and di we’re just breaking below this<\/div>\n<\/div>\n<\/div>\n
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wedge i added i’m now full size for what<\/div>\n<\/div>\n<\/div>\n
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i want to be<\/div>\n<\/div>\n<\/div>\n
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down about one dollar already and i look<\/div>\n<\/div>\n<\/div>\n
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to cover about one<\/div>\n<\/div>\n<\/div>\n
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tenth of my position now down by one<\/div>\n<\/div>\n<\/div>\n
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eighth<\/div>\n<\/div>\n<\/div>\n
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going into the downholes i’m covering it<\/div>\n<\/div>\n<\/div>\n
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excuse me i’m adding and now add is<\/div>\n<\/div>\n<\/div>\n
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i now doubled my size into that hole<\/div>\n<\/div>\n<\/div>\n
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it’s looking for a gap down on<\/div>\n<\/div>\n<\/div>\n
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resumption<\/div>\n<\/div>\n<\/div>\n
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is my thinking right now<\/div>\n<\/div>\n<\/div>\n
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still holding what i added double the<\/div>\n<\/div>\n<\/div>\n
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size from the initial break lower<\/div>\n<\/div>\n<\/div>\n
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had some problems in that downward halt<\/div>\n<\/div>\n<\/div>\n
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so i’m looking to take a little bit of<\/div>\n<\/div>\n<\/div>\n
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size<\/div>\n<\/div>\n<\/div>\n
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off thinking this may reverse because we<\/div>\n<\/div>\n<\/div>\n
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couldn’t limit down<\/div>\n<\/div>\n<\/div>\n
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so i just took off about<\/div>\n<\/div>\n<\/div>\n
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an eight for one ninth of my total short<\/div>\n<\/div>\n<\/div>\n
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position<\/div>\n<\/div>\n<\/div>\n
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holding holding took off a little bit<\/div>\n<\/div>\n<\/div>\n
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more into<\/div>\n<\/div>\n<\/div>\n
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1460 and now i’m back to my original<\/div>\n<\/div>\n<\/div>\n
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size so i locked in some profits took<\/div>\n<\/div>\n<\/div>\n
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off some risk let’s see if this limit<\/div>\n<\/div>\n<\/div>\n
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down sticks<\/div>\n<\/div>\n<\/div>\n
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looks like it’s going to offers or<\/div>\n<\/div>\n<\/div>\n
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stacking up<\/div>\n<\/div>\n<\/div>\n
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trying to short more on the offer often<\/div>\n<\/div>\n<\/div>\n
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won’t get filled it’s very tough because<\/div>\n<\/div>\n<\/div>\n
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everyone’s fighting for the exact same<\/div>\n<\/div>\n<\/div>\n
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fall<\/div>\n<\/div>\n<\/div>\n
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oh and i just got fold so i’m short just<\/div>\n<\/div>\n<\/div>\n
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a bit bigger on my initial<\/div>\n<\/div>\n<\/div>\n
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entry on this breakdown of this<\/div>\n<\/div>\n<\/div>\n
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consolidation<\/div>\n<\/div>\n<\/div>\n
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covered a decent size<\/div>\n<\/div>\n<\/div>\n
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into 15 then i saw lrp appear<\/div>\n<\/div>\n<\/div>\n
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on my bids lower down that made me think<\/div>\n<\/div>\n<\/div>\n
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that<\/div>\n<\/div>\n<\/div>\n
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overall thesis could be right everyone<\/div>\n<\/div>\n<\/div>\n
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thinking that kodak<\/div>\n<\/div>\n<\/div>\n
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could be the candia could be the next<\/div>\n<\/div>\n<\/div>\n
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kodak<\/div>\n<\/div>\n<\/div>\n
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all the fomo long sort of entered this<\/div>\n<\/div>\n<\/div>\n
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position are incorrect<\/div>\n<\/div>\n<\/div>\n
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and looking for that limit down and<\/div>\n<\/div>\n<\/div>\n
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essentially everyone that’s long is in<\/div>\n<\/div>\n<\/div>\n
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the red and they’re going to look to<\/div>\n<\/div>\n<\/div>\n
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panic get out<\/div>\n<\/div>\n<\/div>\n
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everyone that wants to show it and<\/div>\n<\/div>\n<\/div>\n
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perhaps isn’t in the size they want are<\/div>\n<\/div>\n<\/div>\n
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going to look<\/div>\n<\/div>\n<\/div>\n
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to just bang in codec i’m not doing<\/div>\n<\/div>\n<\/div>\n
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anything with<\/div>\n<\/div>\n<\/div>\n
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that scalp right off the open was<\/div>\n<\/div>\n<\/div>\n
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perfect on that<\/div>\n<\/div>\n<\/div>\n
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volume and quick reversal that was the<\/div>\n<\/div>\n<\/div>\n
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right move<\/div>\n<\/div>\n<\/div>\n
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to get out and exit that short position<\/div>\n<\/div>\n<\/div>\n
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great risk reward<\/div>\n<\/div>\n<\/div>\n
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now on this bounce that’s 50 50 in my<\/div>\n<\/div>\n<\/div>\n
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opinion does it fail<\/div>\n<\/div>\n<\/div>\n
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if it does then i could shoulder once<\/div>\n<\/div>\n<\/div>\n
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that lower high’s in<\/div>\n<\/div>\n<\/div>\n
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if we break above 44s this could easily<\/div>\n<\/div>\n<\/div>\n
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squeeze back to 50 is my thinking now<\/div>\n<\/div>\n<\/div>\n
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\n
so now let’s move a little bit forward<\/div>\n<\/div>\n<\/div>\n
\n
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to kndi<\/div>\n<\/div>\n<\/div>\n
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resumption okay so kndi is about to open<\/div>\n<\/div>\n<\/div>\n
\n
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it just opened<\/div>\n<\/div>\n<\/div>\n
\n
\n
still holding looking to cover a little<\/div>\n<\/div>\n<\/div>\n
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bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
into 14 and now i’m really thinking that<\/div>\n<\/div>\n<\/div>\n
\n
\n
this has so now growth 14 i just covered<\/div>\n<\/div>\n<\/div>\n
\n
\n
around a quarter of my position at 13.99<\/div>\n<\/div>\n<\/div>\n
\n
\n
them to get out a little bit more strong<\/div>\n<\/div>\n<\/div>\n
\n
\n
volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
and again i’m scalping momentum there’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
gonna be plenty of opportunity<\/div>\n<\/div>\n<\/div>\n
\n
\n
throughout the day so now i’m holding<\/div>\n<\/div>\n<\/div>\n
\n
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just under<\/div>\n<\/div>\n<\/div>\n
\n
\n
a half of what i went into that lrp<\/div>\n<\/div>\n<\/div>\n
\n
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worth<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’ve locked in some good gains and at<\/div>\n<\/div>\n<\/div>\n
\n
\n
this point i’m just risking profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
from those morning scouts<\/div>\n<\/div>\n<\/div>\n
\n
\n
so break about 1550 will get me to think<\/div>\n<\/div>\n<\/div>\n
\n
\n
this has the potential to reverse that<\/div>\n<\/div>\n<\/div>\n
\n
\n
would be my stop right now<\/div>\n<\/div>\n<\/div>\n
\n
\n
break below 14 no reason to sell i’d<\/div>\n<\/div>\n<\/div>\n
\n
\n
like to hold what i have<\/div>\n<\/div>\n<\/div>\n
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cover on the next down move and i’d look<\/div>\n<\/div>\n<\/div>\n
\n
\n
to get back in<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the next part<\/div>\n<\/div>\n<\/div>\n
\n
\n
it took a little bit of size off there<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking for a consolidation and i’ll add<\/div>\n<\/div>\n<\/div>\n
\n
\n
back size on a breakdown<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking to just scout momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
in and out nail and bail type of trading<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can see there’s buying whether it’s<\/div>\n<\/div>\n<\/div>\n
\n
\n
actual buying for a balance whether it’s<\/div>\n<\/div>\n<\/div>\n
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\n
short covering<\/div>\n<\/div>\n<\/div>\n
\n
\n
who knows but we can definitely see<\/div>\n<\/div>\n<\/div>\n
\n
\n
1460s there are issues<\/div>\n<\/div>\n<\/div>\n
\n
\n
we want to see if it holds we want to<\/div>\n<\/div>\n<\/div>\n
\n
\n
see if it lifts above 1480<\/div>\n<\/div>\n<\/div>\n
\n
\n
and if it does do we hold above 1480<\/div>\n<\/div>\n<\/div>\n
\n
\n
so 14 bit of a quick stuff there broke<\/div>\n<\/div>\n<\/div>\n
\n
\n
below so i shorted a bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
and i’m going to just rarely look to<\/div>\n<\/div>\n<\/div>\n
\n
\n
hold this against 15<\/div>\n<\/div>\n<\/div>\n
\n
\n
ish<\/div>\n<\/div>\n<\/div>\n
\n
\n
yes we trying to balance<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the offer 1466 1461 is my average<\/div>\n<\/div>\n<\/div>\n
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\n
price now<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now it looks like we try to balance<\/div>\n<\/div>\n<\/div>\n
\n
\n
we failed we’re breaking down<\/div>\n<\/div>\n<\/div>\n
\n
\n
so i’m short from 1461.<\/div>\n<\/div>\n<\/div>\n
\n
\n
try to bounce we couldn’t send a step<\/div>\n<\/div>\n<\/div>\n
\n
\n
down buyers ran<\/div>\n<\/div>\n<\/div>\n
\n
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out of of their energy and power see the<\/div>\n<\/div>\n<\/div>\n
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\n
birds just<\/div>\n<\/div>\n<\/div>\n
\n
\n
completely failed and now i’m covering a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit covered one-sixth of my<\/div>\n<\/div>\n<\/div>\n
\n
\n
position there<\/div>\n<\/div>\n<\/div>\n
\n
\n
now looking for low 13s<\/div>\n<\/div>\n<\/div>\n
\n
\n
all right covered more<\/div>\n<\/div>\n<\/div>\n
\n
\n
next cover i’ll be down to half comes<\/div>\n<\/div>\n<\/div>\n
\n
\n
there<\/div>\n<\/div>\n<\/div>\n
\n
\n
down down to half my position and i just<\/div>\n<\/div>\n<\/div>\n
\n
\n
added back at 1289 there looking for the<\/div>\n<\/div>\n<\/div>\n
\n
\n
next lrp<\/div>\n<\/div>\n<\/div>\n
\n
\n
so what i’m doing on the way down on<\/div>\n<\/div>\n<\/div>\n
\n
\n
those extreme washers i’m covering up<\/div>\n<\/div>\n<\/div>\n
\n
\n
again i’m locking in profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
and gains taking risk off the trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
and when we get down to lrp i’m looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
for that supply<\/div>\n<\/div>\n<\/div>\n
\n
\n
to really hit the tape as we so often<\/div>\n<\/div>\n<\/div>\n
\n
\n
see with these low floats that<\/div>\n<\/div>\n<\/div>\n
\n
\n
um really just get hit hard<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so i wanted to see that stick it<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t luckily i’m still in from<\/div>\n<\/div>\n<\/div>\n
\n
\n
price is 1380 now i’ve locked in profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m just holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
what i have which is less right now than<\/div>\n<\/div>\n<\/div>\n
\n
\n
when we caught that initial down move<\/div>\n<\/div>\n<\/div>\n
\n
\n
and locked in those profits<\/div>\n<\/div>\n<\/div>\n
\n
\n
took off half into the lrp added back<\/div>\n<\/div>\n<\/div>\n
\n
\n
about a third or a quarter<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so we’re about 70 cents in the money<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m looking for<\/div>\n<\/div>\n<\/div>\n
\n
\n
a move into the 12s<\/div>\n<\/div>\n<\/div>\n
\n
\n
mid-12s or into lrp<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you know the stock hasn’t given us a<\/div>\n<\/div>\n<\/div>\n
\n
\n
bounce yet and so i’m not greedy<\/div>\n<\/div>\n<\/div>\n
\n
\n
i’m going to look to<\/div>\n<\/div>\n<\/div>\n
\n
\n
cover on divs and add on pops that way<\/div>\n<\/div>\n<\/div>\n
\n
\n
you guarantee yourself<\/div>\n<\/div>\n<\/div>\n
\n
\n
good risk or what if the trade is to<\/div>\n<\/div>\n<\/div>\n
\n
\n
work the best or score that you could<\/div>\n<\/div>\n<\/div>\n
\n
\n
possibly<\/div>\n<\/div>\n<\/div>\n
\n
\n
get okay so now we’re in lrp again<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t get that supply heading so i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
going to take a little bit off<\/div>\n<\/div>\n<\/div>\n
\n
\n
got down to half so a third from what i<\/div>\n<\/div>\n<\/div>\n
\n
\n
initially held here<\/div>\n<\/div>\n<\/div>\n
\n
\n
covered added into the lrp had a bounce<\/div>\n<\/div>\n<\/div>\n
\n
\n
came back<\/div>\n<\/div>\n<\/div>\n
\n
\n
covered where i added and i just got<\/div>\n<\/div>\n<\/div>\n
\n
\n
flat got flattered around<\/div>\n<\/div>\n<\/div>\n
\n
\n
13 13 uh locked it in completely so<\/div>\n<\/div>\n<\/div>\n
\n
\n
really that’s scalping it<\/div>\n<\/div>\n<\/div>\n
\n
\n
from the initial breakdown through the<\/div>\n<\/div>\n<\/div>\n
\n
\n
holes<\/div>\n<\/div>\n<\/div>\n
\n
\n
adding on this breakdown covering and<\/div>\n<\/div>\n<\/div>\n
\n
\n
locking against on the washers<\/div>\n<\/div>\n<\/div>\n
\n
\n
adding on the pops tried on the lrp that<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t work<\/div>\n<\/div>\n<\/div>\n
\n
\n
as well but that is how you scout<\/div>\n<\/div>\n<\/div>\n
\n
\n
momentum<\/div>\n<\/div>\n<\/div>\n
\n
\n
and especially when you think about what<\/div>\n<\/div>\n<\/div>\n
\n
\n
everyone else was thinking in that trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
in terms of<\/div>\n<\/div>\n<\/div>\n
\n
\n
psychology in terms of this could be the<\/div>\n<\/div>\n<\/div>\n
\n
\n
next kodak the gap that it had the<\/div>\n<\/div>\n<\/div>\n
\n
\n
previous day<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh after hours to the pre-market um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and really if you take the news is it<\/div>\n<\/div>\n<\/div>\n
\n
\n
fundamentally changing no<\/div>\n<\/div>\n<\/div>\n
\n
\n
the stock went up as much as it did<\/div>\n<\/div>\n<\/div>\n
\n
\n
because of the people that were<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading it and the people that were<\/div>\n<\/div>\n<\/div>\n
\n
\n
buying it and the biases that were<\/div>\n<\/div>\n<\/div>\n
\n
\n
installed in all of those<\/div>\n<\/div>\n<\/div>\n
\n
\n
people and so once price action<\/div>\n<\/div>\n<\/div>\n
\n
\n
confirms the stock<\/div>\n<\/div>\n<\/div>\n
\n
\n
isn’t going to do what kodak did that in<\/div>\n<\/div>\n<\/div>\n
\n
\n
fact they’re more people chasing this<\/div>\n<\/div>\n<\/div>\n
\n
\n
out of fomo<\/div>\n<\/div>\n<\/div>\n
\n
\n
than actually buying it and absorbing<\/div>\n<\/div>\n<\/div>\n
\n
\n
shares on the bid and you see those<\/div>\n<\/div>\n<\/div>\n
\n
\n
offers step down<\/div>\n<\/div>\n<\/div>\n
\n
\n
and you pick up on all of those nuances<\/div>\n<\/div>\n<\/div>\n
\n
\n
then you can look for these breakdowns<\/div>\n<\/div>\n<\/div>\n
\n
\n
to hit in with size<\/div>\n<\/div>\n<\/div>\n
\n
\n
having a really well defined risk you<\/div>\n<\/div>\n<\/div>\n
\n
\n
can look to add into the first downhold<\/div>\n<\/div>\n<\/div>\n
\n
\n
the lrp<\/div>\n<\/div>\n<\/div>\n
\n
\n
because so often we’ve seen a stock open<\/div>\n<\/div>\n<\/div>\n
\n
\n
up 10 15 20 percent low in this case it<\/div>\n<\/div>\n<\/div>\n
\n
\n
didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you patient you add on you cover some<\/div>\n<\/div>\n<\/div>\n
\n
\n
on the resumption<\/div>\n<\/div>\n<\/div>\n
\n
\n
take off risk lock in profits let price<\/div>\n<\/div>\n<\/div>\n
\n
\n
action talk to you<\/div>\n<\/div>\n<\/div>\n
\n
\n
try to balance it couldn’t i was quick<\/div>\n<\/div>\n<\/div>\n
\n
\n
to take some risk off get out get back<\/div>\n<\/div>\n<\/div>\n
\n
\n
in once i saw that that balance failed<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorted it<\/div>\n<\/div>\n<\/div>\n
\n
\n
covered half on this down move then look<\/div>\n<\/div>\n<\/div>\n
\n
\n
to add into the lrp thing<\/div>\n<\/div>\n<\/div>\n
\n
\n
lrp thinking now you know people holding<\/div>\n<\/div>\n<\/div>\n
\n
\n
bag holders people that are bought for<\/div>\n<\/div>\n<\/div>\n
\n
\n
balance they’ve<\/div>\n<\/div>\n<\/div>\n
\n
\n
they’ve truly lost this battle this<\/div>\n<\/div>\n<\/div>\n
\n
\n
should have<\/div>\n<\/div>\n<\/div>\n
\n
\n
a huge supply and open up lower didn’t<\/div>\n<\/div>\n<\/div>\n
\n
\n
happen um<\/div>\n<\/div>\n<\/div>\n
\n
\n
and so we held through it we covered and<\/div>\n<\/div>\n<\/div>\n
\n
\n
finally on this reversal we got flat so<\/div>\n<\/div>\n<\/div>\n
\n
\n
really we took the stock down from<\/div>\n<\/div>\n<\/div>\n
\n
\n
around 16 to<\/div>\n<\/div>\n<\/div>\n
\n
\n
1280 13ish uh initially risking<\/div>\n<\/div>\n<\/div>\n
\n
\n
just about 60 cents to a dollar<\/div>\n<\/div>\n<\/div>\n
\n
\n
and now it’s reversing and so you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
from here you want to look to shoulder<\/div>\n<\/div>\n<\/div>\n
\n
\n
pop<\/div>\n<\/div>\n<\/div>\n
\n
\n
kodak nice consolidation as well i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
looking into<\/div>\n<\/div>\n<\/div>\n
\n
\n
trading that um as well on either a pop<\/div>\n<\/div>\n<\/div>\n
\n
\n
to add if we get a lower high or<\/div>\n<\/div>\n<\/div>\n
\n
\n
break down to scalp momentum i’m<\/div>\n<\/div>\n<\/div>\n
\n
\n
shorting<\/div>\n<\/div>\n<\/div>\n
\n
\n
this too and um basically<\/div>\n<\/div>\n<\/div>\n
\n
\n
what we want to see now is we want to<\/div>\n<\/div>\n<\/div>\n
\n
\n
see 40 break with an increase in volume<\/div>\n<\/div>\n<\/div>\n
\n
\n
um however i think we can save this<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade for next time<\/div>\n<\/div>\n<\/div>\n
\n
\n
hey go ahead and click our subscribe<\/div>\n<\/div>\n<\/div>\n
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button so you don’t miss any of the<\/div>\n<\/div>\n<\/div>\n
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\n
\n
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\n
feedback<\/div>\n<\/div>\n<\/div>\n
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\n
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* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

Senior Trader, Ryan Hasson, shows video of two of his Tape Reading trades in hot stocks KODK and KNDI, with step-by-step analysis. Let\u2019s get to work on sharing these important trading lessons so you can grow your trading account. * no relevant positions<\/p>\n","protected":false},"author":290,"featured_media":50060,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50059","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nA Senior Trader reveals two quick and profitable scalp trades in hot stocks (Tape Reading) | 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\/a-senior-trader-reveals-two-quick-and-profitable-scalp-trades-in-hot-stocks-tape-reading\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Senior Trader reveals two quick and profitable scalp trades in hot stocks (Tape Reading) | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Senior Trader, Ryan Hasson, shows video of two of his Tape Reading trades in hot stocks KODK and KNDI, with step-by-step analysis. 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