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01-31-2007, 11:01 AM
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Bid-Ask Tape Indicator
Here's an indicator I requested and was created by Insideday. Its a simple indicator that calculates the number of contracts at the Ask minus Bid off the tape. Basically, I'm interested in seeing if there are more lots at the ask vs the bid at key price levels such as pivots. Im also interested in seeing the difference during a tight range in anticipation of a breakout.
I personally plot this...
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By
marketguy
on
02-03-2008, 12:04 AM
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Re: Bid-Ask Tape Indicator
drsushi,
Thanks for making such a bold move to post that on TTM's forum. I have been a member and I also like the guys. It seems that with their success and the large number of people subscribed to TTM. they are constantly attempting to cash in. A few weeks back, I actually got a recorded reminder call from Hubert about a free webinar. I know it was about the money. I appreciate the education that they offer. But, thank God for TL, James, Blu-ray and folks like them. Bryan |
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By
drsushi
on
02-03-2008, 01:15 AM
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Re: Bid-Ask Tape Indicator
Bryan,
Thanks for your comments. I don't know if it's a bold move or not. Maybe I shouldn't have done it, I don't know. Someone made a comment about Hubert saying that just before a free webinar for a new indicator he always says he has been secretly using the indicator. I never thought of the coincidence of him saying it, but I think the timing of his comments are a little suspect. From what I know about him he is a scalper and a tape reader. He even says give me tape and a execution platform and I can trade. I don't think he needs or wants any indicators. Also, being a member of thier site he gave me his cell number so I could call with questions because he hates to type. In the process of asking questions and says the indicators are basically worthless, 50/50 at best. Maybe I shouldn't repeat that here, but they charge over a grand for those things and he doesn't even think much of them. I look at the generosity coming from this website and I think thay maybe there are still good people in this world willing to help others without asking for something in return. Someone asks for a code change and it's done. I have no problem with TTM running a business etc, but I do have an issue with being gouged (sp) for every little thing. David |
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By
marketguy
on
02-03-2008, 11:08 AM
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Re: Bid-Ask Tape Indicator
mrsushi,
You are a good guy. And there are lots of truly great and generous people in the trading world. I have met and continue to meet tons of them. As per Hubert and John, they are great salesmen (or at least Hubert is). Nobody is perfect. We all manipulate the facts, at times. Sure, Hubert is looking a little sleazy these days. And some in this forum will call them greedy. But, the bottom line is, are they providing a valuable service? Are people's education in trading really deepening and their results improving. We all start from the simple. We just want some arrows to tell us when to get in and when to get out. In time, after painful losses, we learn (or never learn) that it isn't that simple. We (hopefully) learn that we need to understand how the market works and we need to learn to read that dynamic movement. John and Hubert's motivations and priorities are in question. They seem to add more and more to the mix so that they can make more money. Any of those indicators (tools) they are offering can be used to positive purpose. I use some of them. But, I never use them in the often cut and dried way that those guys teach. I use them as information only. But, adding so much also muddies the waters, and I think that teachers should make it their priority to clear the waters. To help their students get to a deeper place of understanding. It has taken me over two years of indicator search/hell to start to understand that they are best used as training wheels or, at best, guides. The story is truly in the price action and volume. So Hubert, as someone who is primarily a tape reader, knows this. Yet, he is constantly pushing all these training wheels. And offering simplistic techniques that work great sometimes but can never work consistently. Getting back to your actions of posting the free indicators on the TTM site, I commended you on your boldness. I didn't think I knew knew you well enough to point out, what may be considered by some, your stupidity. Because, over all, I admire your action. Of course, they would get rid of the post ASAP. And, your relations with them are now different. And, you may be blackballed. But, you performed a service. And, hopefully, some people there took notice. We're all learning together. And your contribution (even though J and H might not like it) helps the greater community. And, in the end, that's what matters most. Whew. Long-winded response, huh? Take care. Bryan |
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By
JBWTrader
on
02-09-2008, 08:10 PM
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Re: Bid-Ask Tape Indicator
I agree with Bryan David. Hopefully you dont feel bad about it. It was honest, thats all that counts. this seems such a rare thing in learning to trade these days !!
Thank goodness for the Traders Laboratory ! A true wanting to find the truth and David you have lived up to this and more. Like you guys I have seen some things on TTM that I am not happy about. The Hubert Indicator "sales Crap" was the final straw for me with TTM. eg "An indicator co-developed by Market Delta, a Mathematician and TTM !! lol...So it will be pretty expensive...." Well they cut it down from an estimated $900 to the $499 in the end. But I think they have lost some people from it (including me !) Best Regards John ps Thanks Blue-Ray also !! |
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By
drsushi
on
02-12-2008, 08:59 PM
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Re: Bid-Ask Tape Indicator
Just an update to the TTM post. They removed my posting referring to the Delta Divergence indicator on TL. Something about and agreement with Market Delta. I guess it's unfortunate, but understand able. They do not deny that they are in business and trying to make money, so I guess if peiple want to pay the $ then so be it. JC wasn't upset or anything. He contrls hsi emotions very well, at least he did in his post to me. The thing I'll never understand is how many millions does a person need.
A side question. There is a Malcom Roberts or Robertson referred to on TL. Anyway, he speaks of a Buy/Sell strength indicator. Which one of the indicators on TL would most match up with something like that. Is it the Bid/Ask or the divergence indicator? Thanks. David |
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By
BlowFish
on
02-13-2008, 04:16 PM
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Re: Bid-Ask Tape Indicator
You have to question their integrity really. From what I understand a whole bunch of 'their' indicators appeared first on the trade station forums. Malcom's indicator is also the same though he claims he displays things slightly differently (I corresponded with him pointing out he was selling public domain stuff).
The thing is you either have integrity or you don't to me it calls into question everything they publish or present. I may be wrong but I thought Trevor (MD) had just patented the footprint chart and presumably have protected the name 'MarketDelta'. Personally I think its questionable whether that's enforceable (another issue altogether). People are standing up to TT over 'their' laddered dom display which is good to see Quite sad really. |
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LinkBack to this Thread: http://www.traderslaboratory.com/forums/f46/bid-ask-tape-indicator-1131.html
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| Bid-Ask Tape Indicator - Page 4 - Traders Laboratory | This thread | Refback | 01-25-2008 04:01 AM | |
| Traders Laboratory - forumdisplay | This thread | Refback | 08-16-2007 04:29 AM | |
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