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I just viewed the tape reading videos by James. Very well done and very informative. I have a couple of questions. James, or anyone else, do you ever use the order book, (DOM), in combination with the tape? My other question is regarding trade size on the tape. The Globex consolidates their trade messaging to the data vendors. I have to believe that since the CBOT and the CME merged everything will go over to the Globex. How can you trade the tape if you see prints of say 45, 62, 80, etc. and know if they are a group of 1 lots or a single trade?
Thanks in advance. |
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Being able to read the order book and tape is extremely powerful. The tape shows me clues on short term market direction, supply vs demand at key levels, what type of market participants are evolved, etc....
The order book shows me interest vs no interest, confidence, support and resistance, etc... at specific price levels. On smaller tick contracts I find this harder to see but on larger tick contracts I like to watch the strenght at each level combined with the orders that come across the tape.
I dont quite follow what difference it would make on the YM for the CBOT, CME merger. How would the tape show information differently from the past?