How to use Tape Reading to determine one of the most profitable exits

In this video, two traders from our firm and I discuss a recent trade in Peloton ($PTON) where the best exit was spotted with Tape Reading. And where the Swing Trade was not as profitable as a short-term trade. Register for FREE webinar smbu.com/mike
#TapeReading #stockmarket #daytrading
SMB Disclosures www.smbtraining.com/blog/smb-...

[@hussainamani7636]

Honestly, there's no better content than the one produced by SMB, shared for free. Thank you guys from bottom of my heart for helping me become a better trader. Mike Bellafiore, You Sir are absolutely amazing ! Thank you SMB!

[@mbellafiore19]

Would it be okay if I agree with you 100 percent?

[@geekInternet]

@@mbellafiore19 LOL That's true, though

[@bobreynolds]

@@mbellafiore19 I second what Hussain said.

[@mbellafiore19]

Bob Reynolds really appreciate you taking the time out of your day to say so Bob. #classact

[@stonedog1000]

This is my favorite SMB video; T&S reading well illustrated and discussed. Mike re-enforces the principle of taking profits. I have closed a short position when the tape slowed before my target. After that breakout failed and a lower support failed soon thereafter I re-entered with a new thesis, new target , new stop and made money. I missed 1R by not staying in during that breakout but the important thing ( for me) was that I didn't violate my approach and made 4R over the 2 separate entries.

[@rezakhoshdel5258]

The ability to read the tape is extremely important to get a sense of the overall context of your trade. Without this skill, you're essentially driving with one eye shut - yes you may still get to your destination without harm, but the risk of something going wrong is exponentially greater.

[@leonardocriado8610]

Best content on teaching how to trade properly. I must thank everyone who is involved in producing these highly educational videos, and to Mike Bellafiore, you are simply the best mate! Congrants and thank you Sir!

[@billyblack3816]

11:03 - 12:17 This is Gold, pay attention.

[@sommi888]

🧡💛💚💙 Great video demonstration. This whole trade relied on getting that good entry price.... Mike & the other guys put up a good fight to get that 91.50 region 🧡💛💚💙

[@mbellafiore19]

appreciate that.

[@lencsezoltan]

Thank you for this video. Good to see reasonable ways of using the tape. I have difficulty to understand because i dont get to read and process all the sizes and such, it is just way too fast at the open. But i can note speed, stoping, stepping up and down and such. This material helps.

[@mbellafiore19]

good to hear Zoltan

[@benonyt]

Thank you! Very important to pay attention to speed and threads on the tape. Mike did a great job of following his plan but still adapting to the current market conditions by taking some (25%) out when his team saw something he wasn't seeing at the time. Great work ya'll.

[@smbcapital]

thx Ben!

[@StoicTrader-]

hey, can u elaborate on threads?

[@kimmugen3]

Good work Matt on the tape reads. Bella I like the contrast views / thinking behind your swing idea as well. Same chart same spots, diff objectives and therefore different strategies and thought process on display. New tools to add to the belt for anyone watching!

[@mbellafiore19]

appreciate that Kim

[@allenc2289]

Your the best SMB for clarity Hands Down.I appreciate all the Great videos that you produce to help us.

[@lynnstimler1857]

Great video. I love all the content about reading the tape. You are all the best. Thank you.

[@razzyp3999]

Been waiting for this video!! Loved the info on the Tape. And noticing when the buying Came back in..all starting to make sense. Thanks Mike and the guys! 😊

[@mbellafiore19]

love it Razzy!

[@WeenieTradesLLC]

Excellent analysis on PTON trade. I love trading and the mental puzzle each and every day. Excited to get the $25,000 capital to expand my trading. 24/7 learning. Thanks for sharing this valuable knowledge.

[@mbellafiore19]

you are welcome

[@ImChrisBrown1]

Always nice to watch some good tape reading. Dan over at the chart guys likes to take half profit almost ASAP and move his stop to break even as that presents itself as a risk free trade and helps immensely with the psychology of managing the trade. Always gotta be trimming some profits especially if/as you see an expansion in volatility and the tape speed up.

[@mbellafiore19]

thxs for sharing Chris

[@gregstewart8281]

You guys did a tremendous job explaining all of that, You have been an invaluable resource for tap reading, ps love your books , thanks

[@clintonpoitra1120]

Love the tape reading videos. SMB Tape Reading course was VERY Good. DNA was great and Winning trader is great. Thank you for these courses. Extremely helpful.

[@josuelopez4646]

Amazing video. Really worded some things about the tape into a way i understood it deeper after finishing the video

[@smbcapital]

Glad it was helpful!

[@geekInternet]

That's great as always. I'd love to see some videos showing the SMB team trading low float stocks. Explaining their A+ setup thoughts for a trade. etc. Asking for a friend. ;) Thanks for sharing it was a great trade and I loved Bella's example of his own trade expecting a bigger move down and the motives. This gives us a lot of insights.

[@mbellafiore19]

good idea

[@pardeepdutt9412]

Nice work guys thanks for explaining in details👍

[@smbcapital]

Our pleasure!

[@rafaels3363]

Thank you for this Video. A lot of good info here.

[@smbcapital]

Glad it was helpful!

[@jonathanglazer1947]

Thumbnails videos with Shark get more views haha, Mike, appreciate the content, best trading channel by far. SMB !

[@Dsanchez1979]

Good stuff. If you guys ever trade small caps, that would be great to see more of

[@PeacockJason]

such a good video

[@Silviabellrock]

Great video 👍🏼

[@mbellafiore19]

thxs Silvia!

[@lesterinterior]

Love it!

[@smbcapital]

Thanks!!

[@Jimmy-sj8pi]

What platform/program do you guys use for the tape?

[@smbcapital]

we use an in-house platform but there are a lot of great ones retail can use out there

[@aaronj1211]

what do you mean by the tape is slowing at 91?

[@axleochidae2853]

Great video.

[@smbcapital]

Glad you enjoyed it

[@CindyBarrymore]

Please tell me: what are the time frames on here?

[@alaaelbadawi2353]

THANK YOU

[@smbcapital]

you are welcome!

[@Gmer00]

Nice trade guys!

[@mbellafiore19]

thxs!

[@THEAIRSOFTMAN247]

another good one

[@smbcapital]

Thanks!

[@amitsah369]

What platform do you gyes use for execution? Thank you so much

[@mbellafiore19]

we use a proprietary platform that is only for firm traders

[@dmitrijvasiljev4375]

Bella, what is this T&S and L2 platform your guys are using? I see ToS, but can't recognize the other...

[@jessepicha8721]

They have their own software at SMB

[@mbellafiore19]

we use a proprietary platform only for firm traders. that is why we make such a big deal about our guys using technology to make better trade decisions.

[@dmitrijvasiljev4375]

Thanks, got you!

[@ashishlanje2717]

which charting software do u used?

[@savalisadkins4709]

Dude I will give Matt the nickname "Killer" he is really dialed in right now. I know Mike good isn't good enough, but you have got to be impressed with Matt, I mean "Killer"

[@mbellafiore19]

oh I like that Savalis

[@savalisadkins4709]

@@mbellafiore19 oh yeah, have a great weekend and to the SMB firm "stay profitable"

[@kiklocus4660]

what is yellow on Level 2?

[@Jeremy-zs3nn]

What is the concept of taking liquidity out of the market? I didn't quite catch this but sounded like it had to do with how an order gets executed.

[@jeffshackleford3152]

What about the NKLA trade on 9/22?

[@gao2737]

not sure about the setup, for me, its shorting into higher timeframe support, chart gonna be choppy

[@mbellafiore19]

noted

[@sumankunwar8762]

can I take the trading class physically

[@mbellafiore19]

you can reach out to [e-mail] for training

[@THEFAITHFULFISH]

First ! Hey smb I'm 19 can I join ur firm I started trading at 17

[@mbellafiore19]

Would it kill you to go to college first?

[@THEFAITHFULFISH]

@@mbellafiore19 college won't teach me to long EXES at 92 .80and sell at 96.55 ;)

[@CIA_Is_aTerrorist_Orginization]

@@THEFAITHFULFISH that means grow your account to 100k+ from < 5k and then get back to him

[@seek3n]

Bynd was up there mooning 😂

[@rojenh694]

pton worth $11.51 today haha

[@bronjames4346]

No explanation about tape and level 2 reading just flufffff!!!!

[@CIA_Is_aTerrorist_Orginization]

kind of expected that serious traders would have learned how to read level 2 beforehand