{"id":50365,"date":"2020-12-11T12:19:36","date_gmt":"2020-12-11T17:19:36","guid":{"rendered":"https:\/\/www.smbtraining.com\/blog\/?p=50365"},"modified":"2020-12-15T13:54:46","modified_gmt":"2020-12-15T18:54:46","slug":"how-to-use-tape-reading-to-enter-a-trade-with-large-size","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/how-to-use-tape-reading-to-enter-a-trade-with-large-size","title":{"rendered":"How to Use Tape Reading to Enter a Trade with Large Size"},"content":{"rendered":"

You have a promising technical trade you want to make. But you are not sure when to enter. And\/or you are not sure when to get big in the trade. In this video, we help you with that. See how we use Tape Reading to enter a promising technical trade with size. And we do all of this while controlling and limiting our risk. 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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so you have a promising technical trade<\/div>\n<\/div>\n<\/div>\n
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that you want to make<\/div>\n<\/div>\n<\/div>\n
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but you’re not sure when to enter and or<\/div>\n<\/div>\n<\/div>\n
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you’re not sure when to get big in the<\/div>\n<\/div>\n<\/div>\n
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trade<\/div>\n<\/div>\n<\/div>\n
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in this video we help you with that hi<\/div>\n<\/div>\n<\/div>\n
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i’m mike bellafiiore co-founder of smb<\/div>\n<\/div>\n<\/div>\n
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capital<\/div>\n<\/div>\n<\/div>\n
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and we’re proprietary trading firm<\/div>\n<\/div>\n<\/div>\n
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located in midtown manhattan<\/div>\n<\/div>\n<\/div>\n
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and i’m also the author of the trading<\/div>\n<\/div>\n<\/div>\n
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class take one good trade in the<\/div>\n<\/div>\n<\/div>\n
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playbook<\/div>\n<\/div>\n<\/div>\n
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in this video see how we use tape<\/div>\n<\/div>\n<\/div>\n
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reading to enter a promising technical<\/div>\n<\/div>\n<\/div>\n
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trade<\/div>\n<\/div>\n<\/div>\n
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with size and we do all of this while<\/div>\n<\/div>\n<\/div>\n
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controlling and limiting our risk<\/div>\n<\/div>\n<\/div>\n
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let’s get to work on sharing these<\/div>\n<\/div>\n<\/div>\n
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important trading lessons<\/div>\n<\/div>\n<\/div>\n
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so you can grow your trading account<\/div>\n<\/div>\n<\/div>\n
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[Music]<\/div>\n<\/div>\n<\/div>\n
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today we’ll be doing the reading the<\/div>\n<\/div>\n<\/div>\n
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tape for a trade in<\/div>\n<\/div>\n<\/div>\n
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pltr from 12 8 so just a couple days ago<\/div>\n<\/div>\n<\/div>\n
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um this trade will take place on this<\/div>\n<\/div>\n<\/div>\n
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top right chart<\/div>\n<\/div>\n<\/div>\n
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and top right um level two<\/div>\n<\/div>\n<\/div>\n
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sam put together this really great<\/div>\n<\/div>\n<\/div>\n
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technical<\/div>\n<\/div>\n<\/div>\n
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um drawing here on why we were really<\/div>\n<\/div>\n<\/div>\n
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looking at pltr this morning<\/div>\n<\/div>\n<\/div>\n
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sam do you want to talk a little on this<\/div>\n<\/div>\n<\/div>\n
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yeah so<\/div>\n<\/div>\n<\/div>\n
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the previous day you can see pltr<\/div>\n<\/div>\n<\/div>\n
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had a very strong move about 20 percent<\/div>\n<\/div>\n<\/div>\n
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move from uh<\/div>\n<\/div>\n<\/div>\n
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the opening to the high of the day<\/div>\n<\/div>\n<\/div>\n
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and then you can see in the after hours<\/div>\n<\/div>\n<\/div>\n
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in pre-market a few levels really<\/div>\n<\/div>\n<\/div>\n
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started to develop<\/div>\n<\/div>\n<\/div>\n
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and this is currently right before the<\/div>\n<\/div>\n<\/div>\n
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open of the trade<\/div>\n<\/div>\n<\/div>\n
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we wanted to take so a few levels i was<\/div>\n<\/div>\n<\/div>\n
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watching were 29 which was the previous<\/div>\n<\/div>\n<\/div>\n
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day’s high<\/div>\n<\/div>\n<\/div>\n
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and also a whole number as well as this<\/div>\n<\/div>\n<\/div>\n
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30<\/div>\n<\/div>\n<\/div>\n
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30 45 which was really ended up being<\/div>\n<\/div>\n<\/div>\n
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the main level for the day and you can<\/div>\n<\/div>\n<\/div>\n
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see this is a really key inflection<\/div>\n<\/div>\n<\/div>\n
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point with<\/div>\n<\/div>\n<\/div>\n
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multiple swing high failures and then<\/div>\n<\/div>\n<\/div>\n
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once we were able to regain it in the<\/div>\n<\/div>\n<\/div>\n
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pre-market we start to hold above that<\/div>\n<\/div>\n<\/div>\n
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level<\/div>\n<\/div>\n<\/div>\n
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and then pre-market high is also level<\/div>\n<\/div>\n<\/div>\n
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that we all like to look at and that<\/div>\n<\/div>\n<\/div>\n
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pretty much correlated right with 31<\/div>\n<\/div>\n<\/div>\n
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dollars also whole number<\/div>\n<\/div>\n<\/div>\n
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so ideally on the long side we would<\/div>\n<\/div>\n<\/div>\n
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want<\/div>\n<\/div>\n<\/div>\n
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price to blow past that pre-market high<\/div>\n<\/div>\n<\/div>\n
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as well as holding ultimately holding<\/div>\n<\/div>\n<\/div>\n
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above that 30 40<\/div>\n<\/div>\n<\/div>\n
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level and then on the short side we’d<\/div>\n<\/div>\n<\/div>\n
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want to see a failure at pre-market high<\/div>\n<\/div>\n<\/div>\n
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and then a retest and another failure at<\/div>\n<\/div>\n<\/div>\n
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that after hours high<\/div>\n<\/div>\n<\/div>\n
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as well as that inflection point at 30<\/div>\n<\/div>\n<\/div>\n
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45<\/div>\n<\/div>\n<\/div>\n
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so we can run the tape and see how these<\/div>\n<\/div>\n<\/div>\n
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different scenarios play out<\/div>\n<\/div>\n<\/div>\n
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and then it’s really important just to<\/div>\n<\/div>\n<\/div>\n
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watch how price<\/div>\n<\/div>\n<\/div>\n
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uh reacts at this 30 40 to<\/div>\n<\/div>\n<\/div>\n
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30 like 46 range it’s really interesting<\/div>\n<\/div>\n<\/div>\n
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on the tape<\/div>\n<\/div>\n<\/div>\n
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yeah and to give a little bit more color<\/div>\n<\/div>\n<\/div>\n
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on pltr for anyone<\/div>\n<\/div>\n<\/div>\n
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that doesn’t know the little bit of<\/div>\n<\/div>\n<\/div>\n
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history behind this but um it recently<\/div>\n<\/div>\n<\/div>\n
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ipo’d um<\/div>\n<\/div>\n<\/div>\n
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palantir technologies and they build and<\/div>\n<\/div>\n<\/div>\n
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develop software platforms<\/div>\n<\/div>\n<\/div>\n
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for the intelligence community in the<\/div>\n<\/div>\n<\/div>\n
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united states so<\/div>\n<\/div>\n<\/div>\n
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it’s been a pretty hot uh tech like ipo<\/div>\n<\/div>\n<\/div>\n
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since it came out and as you can see<\/div>\n<\/div>\n<\/div>\n
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there’s been a lot of<\/div>\n<\/div>\n<\/div>\n
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both buyers and sellers with lots of<\/div>\n<\/div>\n<\/div>\n
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shorts getting trapped as we make these<\/div>\n<\/div>\n<\/div>\n
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new<\/div>\n<\/div>\n<\/div>\n
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all-time highs making another attractive<\/div>\n<\/div>\n<\/div>\n
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candidate for having elevated arvol<\/div>\n<\/div>\n<\/div>\n
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and maybe outsized moves to really<\/div>\n<\/div>\n<\/div>\n
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capture great risk to reward<\/div>\n<\/div>\n<\/div>\n
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opportunities<\/div>\n<\/div>\n<\/div>\n
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sam fair to say that when thinking of<\/div>\n<\/div>\n<\/div>\n
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technical analysis<\/div>\n<\/div>\n<\/div>\n
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that 30 45ish area<\/div>\n<\/div>\n<\/div>\n
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is a key technical resistance area<\/div>\n<\/div>\n<\/div>\n
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that we can look at when we’re making<\/div>\n<\/div>\n<\/div>\n
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trades<\/div>\n<\/div>\n<\/div>\n
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yeah exactly the this is the the key<\/div>\n<\/div>\n<\/div>\n
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level for the day<\/div>\n<\/div>\n<\/div>\n
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and you can just pretty much craft that<\/div>\n<\/div>\n<\/div>\n
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bias<\/div>\n<\/div>\n<\/div>\n
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just from looking at the chart you can<\/div>\n<\/div>\n<\/div>\n
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see all those little circles i have<\/div>\n<\/div>\n<\/div>\n
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you can see that this has definitely the<\/div>\n<\/div>\n<\/div>\n
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battle level of the day<\/div>\n<\/div>\n<\/div>\n
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so when price opens and you go into<\/div>\n<\/div>\n<\/div>\n
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real-time trading<\/div>\n<\/div>\n<\/div>\n
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you definitely want to put much more<\/div>\n<\/div>\n<\/div>\n
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emphasis on<\/div>\n<\/div>\n<\/div>\n
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price levels such as this 30-45 level<\/div>\n<\/div>\n<\/div>\n
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where you can see a it’s like just a big<\/div>\n<\/div>\n<\/div>\n
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inflection point<\/div>\n<\/div>\n<\/div>\n
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okay good just to speak to some of the<\/div>\n<\/div>\n<\/div>\n
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newer people<\/div>\n<\/div>\n<\/div>\n
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so that means that we’re going to be<\/div>\n<\/div>\n<\/div>\n
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more interested<\/div>\n<\/div>\n<\/div>\n
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in tape reading and reading the tape<\/div>\n<\/div>\n<\/div>\n
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and what the tape looks like potentially<\/div>\n<\/div>\n<\/div>\n
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around that 30 45-ish area we’re not<\/div>\n<\/div>\n<\/div>\n
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just making trades<\/div>\n<\/div>\n<\/div>\n
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normally there are some instances where<\/div>\n<\/div>\n<\/div>\n
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we do<\/div>\n<\/div>\n<\/div>\n
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there’s some momentum trades that we do<\/div>\n<\/div>\n<\/div>\n
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there’s some ipo trades<\/div>\n<\/div>\n<\/div>\n
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that we do when volatility is really<\/div>\n<\/div>\n<\/div>\n
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high there are some times when we do<\/div>\n<\/div>\n<\/div>\n
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just trade<\/div>\n<\/div>\n<\/div>\n
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off of the tape but<\/div>\n<\/div>\n<\/div>\n
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almost always we’re putting together<\/div>\n<\/div>\n<\/div>\n
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trades<\/div>\n<\/div>\n<\/div>\n
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we’re looking at technicals we’re<\/div>\n<\/div>\n<\/div>\n
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looking at fundamentals that are<\/div>\n<\/div>\n<\/div>\n
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important to us<\/div>\n<\/div>\n<\/div>\n
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does it have a news catalyst and we’re<\/div>\n<\/div>\n<\/div>\n
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using our tape reading skills<\/div>\n<\/div>\n<\/div>\n
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together and we’re finding setups<\/div>\n<\/div>\n<\/div>\n
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that match our playbook trades okay so<\/div>\n<\/div>\n<\/div>\n
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we’re<\/div>\n<\/div>\n<\/div>\n
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not just finally looking at the tape<\/div>\n<\/div>\n<\/div>\n
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we’re not just blindly looking at<\/div>\n<\/div>\n<\/div>\n
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technical levels we’re not just blindly<\/div>\n<\/div>\n<\/div>\n
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making trades off of the fundamentals i<\/div>\n<\/div>\n<\/div>\n
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mean we all know<\/div>\n<\/div>\n<\/div>\n
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that i am a little perplexed at the<\/div>\n<\/div>\n<\/div>\n
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price right now of doordash<\/div>\n<\/div>\n<\/div>\n
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but you have to it’s not enough and the<\/div>\n<\/div>\n<\/div>\n
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market doesn’t care that i’m perplexed<\/div>\n<\/div>\n<\/div>\n
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that it’s trading up at these levels<\/div>\n<\/div>\n<\/div>\n
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and first of all maybe i’m wrong second<\/div>\n<\/div>\n<\/div>\n
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of all this is uh<\/div>\n<\/div>\n<\/div>\n
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people get the vote and i’m one vote in<\/div>\n<\/div>\n<\/div>\n
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the marketplace<\/div>\n<\/div>\n<\/div>\n
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and and so we don’t just get nakedly<\/div>\n<\/div>\n<\/div>\n
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sure just because we think doordash<\/div>\n<\/div>\n<\/div>\n
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has got a lot to come in from uh the<\/div>\n<\/div>\n<\/div>\n
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second day of its ipo trading<\/div>\n<\/div>\n<\/div>\n
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all right so let’s see if uh let’s see<\/div>\n<\/div>\n<\/div>\n
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what happens<\/div>\n<\/div>\n<\/div>\n
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great we know what happens actually<\/div>\n<\/div>\n<\/div>\n
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we’re reviewing we’re giving an example<\/div>\n<\/div>\n<\/div>\n
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of<\/div>\n<\/div>\n<\/div>\n
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uh what we did on this day and an<\/div>\n<\/div>\n<\/div>\n
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example<\/div>\n<\/div>\n<\/div>\n
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of this is a perfect example<\/div>\n<\/div>\n<\/div>\n
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of how we’re going to use our reading<\/div>\n<\/div>\n<\/div>\n
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the tape skills or tape reading<\/div>\n<\/div>\n<\/div>\n
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with an important technical level<\/div>\n<\/div>\n<\/div>\n
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exactly<\/div>\n<\/div>\n<\/div>\n
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so reminder it’ll be on the top right<\/div>\n<\/div>\n<\/div>\n
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here and we’re watching this<\/div>\n<\/div>\n<\/div>\n
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push into 30 50 or 30 45<\/div>\n<\/div>\n<\/div>\n
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that sam had um annotated on the other<\/div>\n<\/div>\n<\/div>\n
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technical level<\/div>\n<\/div>\n<\/div>\n
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so we just know that’s a really big<\/div>\n<\/div>\n<\/div>\n
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inflection level so we’re<\/div>\n<\/div>\n<\/div>\n
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we’re watching kind of this dip and rip<\/div>\n<\/div>\n<\/div>\n
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breakout<\/div>\n<\/div>\n<\/div>\n
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and seeing if pltr um<\/div>\n<\/div>\n<\/div>\n
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if it finds resistance at this 30 45 30<\/div>\n<\/div>\n<\/div>\n
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50 area after breaking down through it<\/div>\n<\/div>\n<\/div>\n
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because if it can stay below that level<\/div>\n<\/div>\n<\/div>\n
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that could be a potentially<\/div>\n<\/div>\n<\/div>\n
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good sign of continued weakness as it<\/div>\n<\/div>\n<\/div>\n
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tried to<\/div>\n<\/div>\n<\/div>\n
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make a new all-time high did failed<\/div>\n<\/div>\n<\/div>\n
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and then got below that level so now<\/div>\n<\/div>\n<\/div>\n
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we’re really seeing will it hold below<\/div>\n<\/div>\n<\/div>\n
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that level<\/div>\n<\/div>\n<\/div>\n
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hey matt do you want to pause it real<\/div>\n<\/div>\n<\/div>\n
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quick so we can just give a little more<\/div>\n<\/div>\n<\/div>\n
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context so you can see how the right<\/div>\n<\/div>\n<\/div>\n
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after the open how it’s already traded<\/div>\n<\/div>\n<\/div>\n
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pretty steep opening drive through that<\/div>\n<\/div>\n<\/div>\n
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pre-market high in 31 but<\/div>\n<\/div>\n<\/div>\n
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instant failure so that’s definitely the<\/div>\n<\/div>\n<\/div>\n
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first signal for<\/div>\n<\/div>\n<\/div>\n
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for us to start building a short thesis<\/div>\n<\/div>\n<\/div>\n
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and then you can see<\/div>\n<\/div>\n<\/div>\n
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super strong reaction down from uh 31 24<\/div>\n<\/div>\n<\/div>\n
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all the way below 29.50 and then<\/div>\n<\/div>\n<\/div>\n
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this move right now is more so i would<\/div>\n<\/div>\n<\/div>\n
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say short covering than actual true<\/div>\n<\/div>\n<\/div>\n
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buying<\/div>\n<\/div>\n<\/div>\n
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so right now we’re ideally just looking<\/div>\n<\/div>\n<\/div>\n
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for places<\/div>\n<\/div>\n<\/div>\n
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to start building a short position if<\/div>\n<\/div>\n<\/div>\n
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we’re not already involved<\/div>\n<\/div>\n<\/div>\n
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so that’s just kind of the overall<\/div>\n<\/div>\n<\/div>\n
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context for why we’re looking at the<\/div>\n<\/div>\n<\/div>\n
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short<\/div>\n<\/div>\n<\/div>\n
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at this time if you want to learn three<\/div>\n<\/div>\n<\/div>\n
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more real world setups that our traders<\/div>\n<\/div>\n<\/div>\n
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use including the simple setup that we<\/div>\n<\/div>\n<\/div>\n
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teach<\/div>\n<\/div>\n<\/div>\n
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all of our new traders and the setup<\/div>\n<\/div>\n<\/div>\n
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that turned one of our traders into a<\/div>\n<\/div>\n<\/div>\n
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seven<\/div>\n<\/div>\n<\/div>\n
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figure big money earner check out the<\/div>\n<\/div>\n<\/div>\n
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free webinar that we’re currently<\/div>\n<\/div>\n<\/div>\n
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running<\/div>\n<\/div>\n<\/div>\n
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just go ahead and click the link that<\/div>\n<\/div>\n<\/div>\n
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should be appearing now<\/div>\n<\/div>\n<\/div>\n
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at the top right hand corner of your<\/div>\n<\/div>\n<\/div>\n
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screen that will open up the free<\/div>\n<\/div>\n<\/div>\n
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registration page in a new window so<\/div>\n<\/div>\n<\/div>\n
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don’t worry<\/div>\n<\/div>\n<\/div>\n
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you won’t lose this video you can also<\/div>\n<\/div>\n<\/div>\n
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visit<\/div>\n<\/div>\n<\/div>\n
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tradingworkshop.com to register for this<\/div>\n<\/div>\n<\/div>\n
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free intensive workshop<\/div>\n<\/div>\n<\/div>\n
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you’re going to learn more in a couple<\/div>\n<\/div>\n<\/div>\n
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of hours from this trading workshop<\/div>\n<\/div>\n<\/div>\n
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than from years of online education yeah<\/div>\n<\/div>\n<\/div>\n
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how slow the tape is on this<\/div>\n<\/div>\n<\/div>\n
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up move is a nice indicator of potential<\/div>\n<\/div>\n<\/div>\n
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weakness or continued downside because<\/div>\n<\/div>\n<\/div>\n
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like sam said it’s not as much<\/div>\n<\/div>\n<\/div>\n
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as true buying but more um shorts<\/div>\n<\/div>\n<\/div>\n
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covering and people just<\/div>\n<\/div>\n<\/div>\n
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resizing their positions<\/div>\n<\/div>\n<\/div>\n
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so we’re coming up into this important<\/div>\n<\/div>\n<\/div>\n
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30 40 area 30 45.<\/div>\n<\/div>\n<\/div>\n
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you can see there’s some offers stacked<\/div>\n<\/div>\n<\/div>\n
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at 30 50<\/div>\n<\/div>\n<\/div>\n
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which never get hit<\/div>\n<\/div>\n<\/div>\n
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and you can see how this is a pretty<\/div>\n<\/div>\n<\/div>\n
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obvious change in the tape this is the<\/div>\n<\/div>\n<\/div>\n
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first<\/div>\n<\/div>\n<\/div>\n
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point from this whole up move where<\/div>\n<\/div>\n<\/div>\n
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\n
we’re starting to find a little bit of<\/div>\n<\/div>\n<\/div>\n
\n
\n
resistance on the tape<\/div>\n<\/div>\n<\/div>\n
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\n
before we’re just easily cruising<\/div>\n<\/div>\n<\/div>\n
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\n
through these different numbers<\/div>\n<\/div>\n<\/div>\n
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\n
and now you can really see how how this<\/div>\n<\/div>\n<\/div>\n
\n
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level is developing on the tape<\/div>\n<\/div>\n<\/div>\n
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\n
exactly for like the past two minutes<\/div>\n<\/div>\n<\/div>\n
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the bids had been constantly stepping up<\/div>\n<\/div>\n<\/div>\n
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every five<\/div>\n<\/div>\n<\/div>\n
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ten cents and finding a higher ground<\/div>\n<\/div>\n<\/div>\n
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but now we’ve<\/div>\n<\/div>\n<\/div>\n
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seen these 3050s never be able to get<\/div>\n<\/div>\n<\/div>\n
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hit and these 30 40s are really stalling<\/div>\n<\/div>\n<\/div>\n
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and we can’t hold above there<\/div>\n<\/div>\n<\/div>\n
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and despite pretty strong on the uh<\/div>\n<\/div>\n<\/div>\n
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on the bids there pretty strong size<\/div>\n<\/div>\n<\/div>\n
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we’re just<\/div>\n<\/div>\n<\/div>\n
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taking it out super easily can we go<\/div>\n<\/div>\n<\/div>\n
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back to<\/div>\n<\/div>\n<\/div>\n
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the last up move three things one<\/div>\n<\/div>\n<\/div>\n
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as something’s coming into just stop for<\/div>\n<\/div>\n<\/div>\n
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a second one as we’re coming into that<\/div>\n<\/div>\n<\/div>\n
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key technical resistance area we want to<\/div>\n<\/div>\n<\/div>\n
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see how the stock goes up<\/div>\n<\/div>\n<\/div>\n
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\n
so i want to see how the stock what’s<\/div>\n<\/div>\n<\/div>\n
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the buying pattern<\/div>\n<\/div>\n<\/div>\n
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into that resistance area you know are<\/div>\n<\/div>\n<\/div>\n
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they<\/div>\n<\/div>\n<\/div>\n
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repeatedly rebidding at 30 30 are they<\/div>\n<\/div>\n<\/div>\n
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repeatedly bidding at 30 35<\/div>\n<\/div>\n<\/div>\n
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are they repeatedly bidding at 30 40 are<\/div>\n<\/div>\n<\/div>\n
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they repeatedly bidding at 30 45<\/div>\n<\/div>\n<\/div>\n
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\n
and then do i notice that pattern shift<\/div>\n<\/div>\n<\/div>\n
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\n
so that’s that’s number one if i notice<\/div>\n<\/div>\n<\/div>\n
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that pattern shift<\/div>\n<\/div>\n<\/div>\n
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\n
i i can use that as a way to enter<\/div>\n<\/div>\n<\/div>\n
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\n
secondly let’s go up and watch the<\/div>\n<\/div>\n<\/div>\n
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\n
offers<\/div>\n<\/div>\n<\/div>\n
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\n
at 30 50. let’s see if we notice<\/div>\n<\/div>\n<\/div>\n
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\n
anything about the oversight 3050.<\/div>\n<\/div>\n<\/div>\n
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\n
what do we think about those offers at<\/div>\n<\/div>\n<\/div>\n
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\n
30 50.<\/div>\n<\/div>\n<\/div>\n
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\n
to me that shows this is clearly a<\/div>\n<\/div>\n<\/div>\n
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potential<\/div>\n<\/div>\n<\/div>\n
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\n
resistance level both on the tape and<\/div>\n<\/div>\n<\/div>\n
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also as we see<\/div>\n<\/div>\n<\/div>\n
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\n
on the technicals and there’s clearly a<\/div>\n<\/div>\n<\/div>\n
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\n
player there<\/div>\n<\/div>\n<\/div>\n
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\n
stacking size on that offer to try and<\/div>\n<\/div>\n<\/div>\n
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\n
hold the stock below that level<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay so on the way up<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re watching the buying pattern two<\/div>\n<\/div>\n<\/div>\n
\n
\n
sam rightly points out<\/div>\n<\/div>\n<\/div>\n
\n
\n
that he’s noticing some resistance on<\/div>\n<\/div>\n<\/div>\n
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\n
the offer it’s harder for the stock to<\/div>\n<\/div>\n<\/div>\n
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go up<\/div>\n<\/div>\n<\/div>\n
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they’re buying but it’s harder for them<\/div>\n<\/div>\n<\/div>\n
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\n
to get up<\/div>\n<\/div>\n<\/div>\n
\n
\n
you know when they were buying at 45<\/div>\n<\/div>\n<\/div>\n
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\n
cents at other prices the thing would be<\/div>\n<\/div>\n<\/div>\n
\n
\n
75 cents by now<\/div>\n<\/div>\n<\/div>\n
\n
\n
not really getting up very much all<\/div>\n<\/div>\n<\/div>\n
\n
\n
right so we’re noticing that on the tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
we know that this 30 45<\/div>\n<\/div>\n<\/div>\n
\n
\n
is a technical resistance area from<\/div>\n<\/div>\n<\/div>\n
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\n
previous trading we see that there’s<\/div>\n<\/div>\n<\/div>\n
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\n
some stacked offers<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 30 50. we we should start to think<\/div>\n<\/div>\n<\/div>\n
\n
\n
about using that 3050 as<\/div>\n<\/div>\n<\/div>\n
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\n
protection we should start to think<\/div>\n<\/div>\n<\/div>\n
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\n
about<\/div>\n<\/div>\n<\/div>\n
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\n
initially building a position against<\/div>\n<\/div>\n<\/div>\n
\n
\n
this 3050<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then lastly we should<\/div>\n<\/div>\n<\/div>\n
\n
\n
look to see the buying pattern change<\/div>\n<\/div>\n<\/div>\n
\n
\n
and if we can see the buying power and<\/div>\n<\/div>\n<\/div>\n
\n
\n
change<\/div>\n<\/div>\n<\/div>\n
\n
\n
then we can get really aggressive<\/div>\n<\/div>\n<\/div>\n
\n
\n
against this 30-50 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
we we can use this as the see it moment<\/div>\n<\/div>\n<\/div>\n
\n
\n
to really get into an aggressive short<\/div>\n<\/div>\n<\/div>\n
\n
\n
we can use this as an example<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be very aggressive with the thesis<\/div>\n<\/div>\n<\/div>\n
\n
\n
that we’ve developed so we think the<\/div>\n<\/div>\n<\/div>\n
\n
\n
stock’s going to be weak because of the<\/div>\n<\/div>\n<\/div>\n
\n
\n
price action we noticed right on the<\/div>\n<\/div>\n<\/div>\n
\n
\n
open<\/div>\n<\/div>\n<\/div>\n
\n
\n
that sam very very astutely<\/div>\n<\/div>\n<\/div>\n
\n
\n
points out spot on you know big down<\/div>\n<\/div>\n<\/div>\n
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\n
move<\/div>\n<\/div>\n<\/div>\n
\n
\n
after a failure to hold above the<\/div>\n<\/div>\n<\/div>\n
\n
\n
technical resistance area<\/div>\n<\/div>\n<\/div>\n
\n
\n
that is a that’s a technical failure and<\/div>\n<\/div>\n<\/div>\n
\n
\n
so<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re looking for that moment to lay<\/div>\n<\/div>\n<\/div>\n
\n
\n
into this thing to be aggressive<\/div>\n<\/div>\n<\/div>\n
\n
\n
to make to put on big size and this is<\/div>\n<\/div>\n<\/div>\n
\n
\n
an example right here where we may be<\/div>\n<\/div>\n<\/div>\n
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\n
able to<\/div>\n<\/div>\n<\/div>\n
\n
\n
put on big size by using our tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
reading skills for entry<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re not making this trade just based<\/div>\n<\/div>\n<\/div>\n
\n
\n
on tape reading we’re making<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re making a sizing decision we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
making an aggressiveness decision we’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
making an entry decision<\/div>\n<\/div>\n<\/div>\n
\n
\n
based on our tape reading skills and<\/div>\n<\/div>\n<\/div>\n
\n
\n
we’re we’re formulating this trade with<\/div>\n<\/div>\n<\/div>\n
\n
\n
with with a technical factor as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
okay<\/div>\n<\/div>\n<\/div>\n
\n
\n
but we’re looking for those moments we<\/div>\n<\/div>\n<\/div>\n
\n
\n
want to be big we want to be aggressive<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this could be one of those moments<\/div>\n<\/div>\n<\/div>\n
\n
\n
something else i want to touch on that<\/div>\n<\/div>\n<\/div>\n
\n
\n
you kind of pointed out with this 30 50<\/div>\n<\/div>\n<\/div>\n
\n
\n
level<\/div>\n<\/div>\n<\/div>\n
\n
\n
as kind of pretty much where you’re<\/div>\n<\/div>\n<\/div>\n
\n
\n
risking the trade off of<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you could approach this two different<\/div>\n<\/div>\n<\/div>\n
\n
\n
ways i would say<\/div>\n<\/div>\n<\/div>\n
\n
\n
you could just risk your whole position<\/div>\n<\/div>\n<\/div>\n
\n
\n
against 30 50<\/div>\n<\/div>\n<\/div>\n
\n
\n
or you could size more aggressively and<\/div>\n<\/div>\n<\/div>\n
\n
\n
risk let’s say<\/div>\n<\/div>\n<\/div>\n
\n
\n
60 70 your position against 60 50<\/div>\n<\/div>\n<\/div>\n
\n
\n
lifting and then ultimately risking that<\/div>\n<\/div>\n<\/div>\n
\n
\n
rest<\/div>\n<\/div>\n<\/div>\n
\n
\n
against high of day or that 31 level<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you could be able to still have<\/div>\n<\/div>\n<\/div>\n
\n
\n
some a little bit of size on if this<\/div>\n<\/div>\n<\/div>\n
\n
\n
3050 lifts and then ends up<\/div>\n<\/div>\n<\/div>\n
\n
\n
re-stepping back down and then you could<\/div>\n<\/div>\n<\/div>\n
\n
\n
also<\/div>\n<\/div>\n<\/div>\n
\n
\n
end up getting a lot more shares if kind<\/div>\n<\/div>\n<\/div>\n
\n
\n
of like what’s happening now if this<\/div>\n<\/div>\n<\/div>\n
\n
\n
30-50 is the true level of the day<\/div>\n<\/div>\n<\/div>\n
\n
\n
great so i’ll play it through one more<\/div>\n<\/div>\n<\/div>\n
\n
\n
time so you can see<\/div>\n<\/div>\n<\/div>\n
\n
\n
these 30 50s never really decrement<\/div>\n<\/div>\n<\/div>\n
\n
\n
they get refreshed a little and we pull<\/div>\n<\/div>\n<\/div>\n
\n
\n
back away from the level<\/div>\n<\/div>\n<\/div>\n
\n
\n
yeah i want to see it can 3045 hold the<\/div>\n<\/div>\n<\/div>\n
\n
\n
bid<\/div>\n<\/div>\n<\/div>\n
\n
\n
here’s 45 can’t really hold and we know<\/div>\n<\/div>\n<\/div>\n
\n
\n
that can’t really hold the bid right<\/div>\n<\/div>\n<\/div>\n
\n
\n
yep and then it pulls back 10 cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
which isn’t really something we’ve seen<\/div>\n<\/div>\n<\/div>\n
\n
\n
too<\/div>\n<\/div>\n<\/div>\n
\n
\n
recently on this i’ll hold up move can<\/div>\n<\/div>\n<\/div>\n
\n
\n
it hold a bit<\/div>\n<\/div>\n<\/div>\n
\n
\n
that’s what i’m looking at can’t hold a<\/div>\n<\/div>\n<\/div>\n
\n
\n
bed<\/div>\n<\/div>\n<\/div>\n
\n
\n
really good sign when you see a bunch of<\/div>\n<\/div>\n<\/div>\n
\n
\n
size popping on the bed<\/div>\n<\/div>\n<\/div>\n
\n
\n
it just gets taken out almost instantly<\/div>\n<\/div>\n<\/div>\n
\n
\n
as well<\/div>\n<\/div>\n<\/div>\n
\n
\n
it can’t hold the bid and you’re looking<\/div>\n<\/div>\n<\/div>\n
\n
\n
for that change in pattern<\/div>\n<\/div>\n<\/div>\n
\n
\n
and the down moves different than it had<\/div>\n<\/div>\n<\/div>\n
\n
\n
been you noticed<\/div>\n<\/div>\n<\/div>\n
\n
\n
the first time it couldn’t hold 45 cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
and move down a little bit second time i<\/div>\n<\/div>\n<\/div>\n
\n
\n
couldn’t hold 45 cents<\/div>\n<\/div>\n<\/div>\n
\n
\n
um move down a little bit less uh second<\/div>\n<\/div>\n<\/div>\n
\n
\n
third time it couldn’t hold the bid<\/div>\n<\/div>\n<\/div>\n
\n
\n
at 45 cents it goes down differently<\/div>\n<\/div>\n<\/div>\n
\n
\n
and this is where you can you can start<\/div>\n<\/div>\n<\/div>\n
\n
\n
to make a trade decision<\/div>\n<\/div>\n<\/div>\n
\n
\n
as to whether or not you want to go for<\/div>\n<\/div>\n<\/div>\n
\n
\n
it<\/div>\n<\/div>\n<\/div>\n
\n
\n
those are the moments and that’s why you<\/div>\n<\/div>\n<\/div>\n
\n
\n
go back and you watch the tape you look<\/div>\n<\/div>\n<\/div>\n
\n
\n
for those nuances<\/div>\n<\/div>\n<\/div>\n
\n
\n
where the buying pattern changes it just<\/div>\n<\/div>\n<\/div>\n
\n
\n
can’t hold that 45<\/div>\n<\/div>\n<\/div>\n
\n
\n
cent bid and you ask yourself how do i<\/div>\n<\/div>\n<\/div>\n
\n
\n
get really aggressive<\/div>\n<\/div>\n<\/div>\n
\n
\n
where do i get really aggressive against<\/div>\n<\/div>\n<\/div>\n
\n
\n
but perfect example right here<\/div>\n<\/div>\n<\/div>\n
\n
\n
being able to be big using your tape<\/div>\n<\/div>\n<\/div>\n
\n
\n
reading skills going for it<\/div>\n<\/div>\n<\/div>\n
\n
\n
being in the trade you want to be in<\/div>\n<\/div>\n<\/div>\n
\n
\n
being in a stock you want to be in being<\/div>\n<\/div>\n<\/div>\n
\n
\n
in the direction you want to be in<\/div>\n<\/div>\n<\/div>\n
\n
\n
and being able to risk very little<\/div>\n<\/div>\n<\/div>\n
\n
\n
and put yourself in a really good<\/div>\n<\/div>\n<\/div>\n
\n
\n
position to make a big trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly and we have a quick picture<\/div>\n<\/div>\n<\/div>\n
\n
\n
to just show how this trade played out<\/div>\n<\/div>\n<\/div>\n
\n
\n
this<\/div>\n<\/div>\n<\/div>\n
\n
\n
you can see this indication here is the<\/div>\n<\/div>\n<\/div>\n
\n
\n
clean rejection level we had at the<\/div>\n<\/div>\n<\/div>\n
\n
\n
previous all-time highs at 30 45. this<\/div>\n<\/div>\n<\/div>\n
\n
\n
was the area we watched on the tape that<\/div>\n<\/div>\n<\/div>\n
\n
\n
clearly held<\/div>\n<\/div>\n<\/div>\n
\n
\n
and then from the top of that move to<\/div>\n<\/div>\n<\/div>\n
\n
\n
the bottom of the day was about a 12<\/div>\n<\/div>\n<\/div>\n
\n
\n
move so you could have been sized up<\/div>\n<\/div>\n<\/div>\n
\n
\n
really aggressively in a trade like that<\/div>\n<\/div>\n<\/div>\n
\n
\n
to make<\/div>\n<\/div>\n<\/div>\n
\n
\n
a full atr on a stock in you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
in an hour if you wanted to add to your<\/div>\n<\/div>\n<\/div>\n
\n
\n
position you can see this<\/div>\n<\/div>\n<\/div>\n
\n
\n
2980 level also became a<\/div>\n<\/div>\n<\/div>\n
\n
\n
pretty clear resistance on the tape as<\/div>\n<\/div>\n<\/div>\n
\n
\n
well as almost identical<\/div>\n<\/div>\n<\/div>\n
\n
\n
price action on the retest of that level<\/div>\n<\/div>\n<\/div>\n
\n
\n
so you can almost take<\/div>\n<\/div>\n<\/div>\n
\n
\n
oh an identical trade as the one you<\/div>\n<\/div>\n<\/div>\n
\n
\n
took for your first entry<\/div>\n<\/div>\n<\/div>\n
\n
\n
for a re-ad for like continuation to<\/div>\n<\/div>\n<\/div>\n
\n
\n
load day<\/div>\n<\/div>\n<\/div>\n
\n
\n
exactly and it’d be easier to notice<\/div>\n<\/div>\n<\/div>\n
\n
\n
this in real time because we had this<\/div>\n<\/div>\n<\/div>\n
\n
\n
information of how it traded earlier so<\/div>\n<\/div>\n<\/div>\n
\n
\n
just sticking with the stock and using<\/div>\n<\/div>\n<\/div>\n
\n
\n
that information you’ve gained as an<\/div>\n<\/div>\n<\/div>\n
\n
\n
edge is definitely important to make<\/div>\n<\/div>\n<\/div>\n
\n
\n
some some better trades<\/div>\n<\/div>\n<\/div>\n
\n
\n
all right great super good example of<\/div>\n<\/div>\n<\/div>\n
\n
\n
how to use your tape reading skills for<\/div>\n<\/div>\n<\/div>\n
\n
\n
entry<\/div>\n<\/div>\n<\/div>\n
\n
\n
and how to use your tape reading skills<\/div>\n<\/div>\n<\/div>\n
\n
\n
to be big<\/div>\n<\/div>\n<\/div>\n
\n
\n
in a really good trade and be able to do<\/div>\n<\/div>\n<\/div>\n
\n
\n
it<\/div>\n<\/div>\n<\/div>\n
\n
\n
with minimal risk<\/div>\n<\/div>\n<\/div>\n
\n
\n
so great job great job teeing this up we<\/div>\n<\/div>\n<\/div>\n
\n
\n
were making this trade<\/div>\n<\/div>\n<\/div>\n
\n
\n
i know i made i made this trade in real<\/div>\n<\/div>\n<\/div>\n
\n
\n
time<\/div>\n<\/div>\n<\/div>\n
\n
\n
um appreciate you guys teeing this up i<\/div>\n<\/div>\n<\/div>\n
\n
\n
thought it was a really good<\/div>\n<\/div>\n<\/div>\n
\n
\n
uh teaching point and then you know<\/div>\n<\/div>\n<\/div>\n
\n
\n
this is the idea you go back and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
watch the key moments the key inflection<\/div>\n<\/div>\n<\/div>\n
\n
\n
points on the tape and you<\/div>\n<\/div>\n<\/div>\n
\n
\n
notice those little nuances and you get<\/div>\n<\/div>\n<\/div>\n
\n
\n
better at your tape reading skills so<\/div>\n<\/div>\n<\/div>\n
\n
\n
that<\/div>\n<\/div>\n<\/div>\n
\n
\n
when a similar setup like this comes<\/div>\n<\/div>\n<\/div>\n
\n
\n
again<\/div>\n<\/div>\n<\/div>\n
\n
\n
you will trade it with a little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
size trade it with a little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
conviction<\/div>\n<\/div>\n<\/div>\n
\n
\n
trade it with a little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
aggressiveness know what you’re doing a<\/div>\n<\/div>\n<\/div>\n
\n
\n
little bit more<\/div>\n<\/div>\n<\/div>\n
\n
\n
and improve as a trader and if you just<\/div>\n<\/div>\n<\/div>\n
\n
\n
keep doing that you keep getting a<\/div>\n<\/div>\n<\/div>\n
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little bit better a little bit better<\/div>\n<\/div>\n<\/div>\n
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that compounds on top of each other<\/div>\n<\/div>\n<\/div>\n
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obviously you guys know there are very<\/div>\n<\/div>\n<\/div>\n
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very large traders<\/div>\n<\/div>\n<\/div>\n
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in the desk that put on huge size and<\/div>\n<\/div>\n<\/div>\n
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trades like this<\/div>\n<\/div>\n<\/div>\n
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dwang chatted me about<\/div>\n<\/div>\n<\/div>\n
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a trade in that glsi is that is that the<\/div>\n<\/div>\n<\/div>\n
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stock yesterday that was going<\/div>\n<\/div>\n<\/div>\n
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crazy yep that gls i<\/div>\n<\/div>\n<\/div>\n
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uh he scalped that on the turn with huge<\/div>\n<\/div>\n<\/div>\n
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size<\/div>\n<\/div>\n<\/div>\n
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he ended up walking into a much bigger<\/div>\n<\/div>\n<\/div>\n
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trade than he thought<\/div>\n<\/div>\n<\/div>\n
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i don’t think he intended to make as<\/div>\n<\/div>\n<\/div>\n
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much money as he did but<\/div>\n<\/div>\n<\/div>\n
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you know he is an example of same<\/div>\n<\/div>\n<\/div>\n
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principle<\/div>\n<\/div>\n<\/div>\n
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shorten the turn using the tape reading<\/div>\n<\/div>\n<\/div>\n
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skills to get in with a good entry<\/div>\n<\/div>\n<\/div>\n
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where these trades can become<\/div>\n<\/div>\n<\/div>\n
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very very significant p l uh movers<\/div>\n<\/div>\n<\/div>\n
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appreciate it guys uh any questions uh<\/div>\n<\/div>\n<\/div>\n
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so<\/div>\n<\/div>\n<\/div>\n
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we have maybe two questions it looks<\/div>\n<\/div>\n<\/div>\n
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like<\/div>\n<\/div>\n<\/div>\n
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first one what would happen if you take<\/div>\n<\/div>\n<\/div>\n
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big size here and they take out the 30<\/div>\n<\/div>\n<\/div>\n
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50s<\/div>\n<\/div>\n<\/div>\n
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quickly would you get out and then<\/div>\n<\/div>\n<\/div>\n
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potentially re-enter again<\/div>\n<\/div>\n<\/div>\n
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it depends on the trade you’re making i<\/div>\n<\/div>\n<\/div>\n
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would if you’re<\/div>\n<\/div>\n<\/div>\n
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shorting the turn if you’re waiting for<\/div>\n<\/div>\n<\/div>\n
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the buying pattern to change<\/div>\n<\/div>\n<\/div>\n
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and you’re using that resistance area<\/div>\n<\/div>\n<\/div>\n
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if you’re making that kind of trade yep<\/div>\n<\/div>\n<\/div>\n
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you cover above 50 cents if you’re<\/div>\n<\/div>\n<\/div>\n
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making more of a swing trade as sam<\/div>\n<\/div>\n<\/div>\n
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mentioned and you’re sort of scaling<\/div>\n<\/div>\n<\/div>\n
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into<\/div>\n<\/div>\n<\/div>\n
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maybe the whole number you are<\/div>\n<\/div>\n<\/div>\n
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uh gonna put on some size you’ll<\/div>\n<\/div>\n<\/div>\n
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probably take a little bit off<\/div>\n<\/div>\n<\/div>\n
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at 50 cents but not all of it and then<\/div>\n<\/div>\n<\/div>\n
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watch what it does<\/div>\n<\/div>\n<\/div>\n
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uh into the whole number because it’s a<\/div>\n<\/div>\n<\/div>\n
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swing trade so it depends on the trade<\/div>\n<\/div>\n<\/div>\n
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you’re making<\/div>\n<\/div>\n<\/div>\n
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good question great and then just one<\/div>\n<\/div>\n<\/div>\n
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more<\/div>\n<\/div>\n<\/div>\n
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um what’s generally a good stock float<\/div>\n<\/div>\n<\/div>\n
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range to trade with<\/div>\n<\/div>\n<\/div>\n
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if there’s something in mind you you<\/div>\n<\/div>\n<\/div>\n
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think<\/div>\n<\/div>\n<\/div>\n
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good question so and these days uh<\/div>\n<\/div>\n<\/div>\n
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that changes um and and<\/div>\n<\/div>\n<\/div>\n
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a lot you know we trade some of these<\/div>\n<\/div>\n<\/div>\n
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stocks where the float is low but the<\/div>\n<\/div>\n<\/div>\n
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volume on the day is is very high<\/div>\n<\/div>\n<\/div>\n
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i i’d ask you to think about it more as<\/div>\n<\/div>\n<\/div>\n
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to whether or not you can control your<\/div>\n<\/div>\n<\/div>\n
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risk<\/div>\n<\/div>\n<\/div>\n
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and so you watch the way the stocks<\/div>\n<\/div>\n<\/div>\n
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trading can you control your risk<\/div>\n<\/div>\n<\/div>\n
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d can you get out where you think you<\/div>\n<\/div>\n<\/div>\n
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can get out<\/div>\n<\/div>\n<\/div>\n
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and that is is really the better<\/div>\n<\/div>\n<\/div>\n
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question to to be asking these days with<\/div>\n<\/div>\n<\/div>\n
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is some of these low floats that are<\/div>\n<\/div>\n<\/div>\n
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really in play that<\/div>\n<\/div>\n<\/div>\n
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maybe you would decide not to touch<\/div>\n<\/div>\n<\/div>\n
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based on this float<\/div>\n<\/div>\n<\/div>\n
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on the open but because there’s just so<\/div>\n<\/div>\n<\/div>\n
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much value on it it makes it very<\/div>\n<\/div>\n<\/div>\n
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tradable hey go ahead and click our<\/div>\n<\/div>\n<\/div>\n
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subscribe button so you don’t miss<\/div>\n<\/div>\n<\/div>\n
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any of the videos they’re producing for<\/div>\n<\/div>\n<\/div>\n
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you and the trading community and please<\/div>\n<\/div>\n<\/div>\n
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take the time to add your feedback in<\/div>\n<\/div>\n<\/div>\n
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the comments section for what videos<\/div>\n<\/div>\n<\/div>\n
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you’d like for us to produce next<\/div>\n<\/div>\n<\/div>\n
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and what you found helpful from this<\/div>\n<\/div>\n<\/div>\n
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video from all of us at smb<\/div>\n<\/div>\n<\/div>\n
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train and trade well<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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English (auto-generated)<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\"\"<\/a><\/p>\n

* no relevant positions<\/p>\n","protected":false},"excerpt":{"rendered":"

You have a promising technical trade you want to make. But you are not sure when to enter. And\/or you are not sure when to get big in the trade. In this video, we help you with that. See how we use Tape Reading to enter a promising technical trade with size. And we do all of this while controlling … Read More<\/a><\/p>\n","protected":false},"author":290,"featured_media":50366,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[4189],"tags":[],"class_list":["post-50365","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-free-daily-trading-video","post_format-post-format-video"],"yoast_head":"\nHow to Use Tape Reading to Enter a Trade with Large Size | 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\/how-to-use-tape-reading-to-enter-a-trade-with-large-size\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Use Tape Reading to Enter a Trade with Large Size | SMB Training\" \/>\n<meta property=\"og:description\" content=\"You have a promising technical trade you want to make. 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