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Re: Identifying Short Covering: Day Traders Perspective
I guess what I need is a lot more experience reading the tape. I am still confused though as to how you know whether traders are using limit or market orders? Of course there has to be one of each for every trade. How do you know that guys that get in with a market order of 88 cars will exit with a market order? a 44 lot may not necessarily be the same guy. He may scale out 44,22,22 with limit orders.
I want to learn how you observe and interpret these orders in the market as you seem confident in your observations. This may be a good topic for a video - identifying footprints on tape. ;-)
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