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Yes, this is accurate, as far as it goes. Many people consider Time and Sales to be "tape reading", just as many people consider DOM to be "tape reading", but neither have much to do with tape reading. Tape reading entails focusing on completed transactions, not intentions. |
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Time and sales
is a record of 'completed transactions' and pretty much akin to the tape of yore. I guess you meant that the
DoM has little to do with tape reading. This is of course true in the strictest sense though many consider 'stock levels' (DoM) along with 'completed transactions' (T&S).
Smwinc - I hope you mind me asking do you trade in a prop shop? Just curious.