[Soultrader]

I think its important to understand fully what market making really is and how market makers function. Otherwise you will be misinterperating what Level 2 is telling you. In regards to tape for markets with no market makers, I find it to be the "truth". Theres a few "truth's" in trading I consider: volume, tape, market profile (the concept), and trader psychology.

I would love to hear about your findings on tape Torero. As you know I am a hardcore tape reader even in the most boring and slowest instruments. Any new insights is fully appreciated.