[vale46]

Hi,

New to the world of trading. Thanks for all the information here and the great videos Soul. I have a question regarding software. I notice you use tradestation for all your charting and tape reading. Do other software platforms show the tape in the same way that tradestation does? Is it just a time and sales setting in other programs? If anyone has used or is using software that can display the tape in the same way tradestation does I'd appreciate it. I've seen tons of windows that look like the attached image, but none like tradestation. Is this even the right image?

Im asking as it seems a lot of traders have 2 accounts, trade ten times to get tradestation free and continue with another broker. I'd prefer to have one account with a really good/fast broker. No-one seems to use or recommend tradestation as a broker.

Thanks

Rossi Fan

[walterw]

Hi Vale, what you attached its called DOM (depth of market),wich comes on trading platforms softwares, what you are looking for is Time and Sales... TS is the one you see on Souls videos, you can also have that on regular data service softwares like esignal, qcharts, realtick etc... normally dom softwares unfortunately do not include time and sales... hope helps Walter.

[Soultrader]

Yes, exactly what walter said. Check to see if the software comes with a time of sales. Sometimes brokers will ask you what it is and why you need it. Swtich brokers.

Alot of trading platforms should have it. The DOM you showed on the pic for tradestation is called the Matrix. Other platforms will refer to it as the price ladder.

[notouch]

I think newbie traders should steer well clear of time & sales, except maybe as an educational exercise.

Originally Posted by notouch »

I think newbie traders should steer well clear of time & sales, except maybe as an educational exercise.

Why? Any premise for your blanket statement?

[notouch]

I think a newbie needs something concrete to work with, like VSA for example. I've yet to see a workable tape reading strategy and tape readers usually fall back on claims that it's a "feeling" that can't be explained. I think any newbie hoping to scalp a few ticks on the basis of some mysterious "feeling" is in for trouble.

[vale46]

Thanks for the replies. Learnt something new. I'll start trawling through the VSA thread. I figured tape reading would be difficult, well not difficult just time consuming to master. I've seen some of huberts videos on trade the markets and Souls here and I like the 'simplicity' of tape reading. In any case Im definitely open to any ideas and strategies

Successful futures trading is a long term objective of mine, Im definitely not looking for a quick buck.

I'll be posting plenty more questions

[walterw]

Originally Posted by notouch »

I think a newbie needs something concrete to work with, like VSA for example. I've yet to see a workable tape reading strategy and tape readers usually fall back on claims that it's a "feeling" that can't be explained. I think any newbie hoping to scalp a few ticks on the basis of some mysterious "feeling" is in for trouble.

Tape reading is not easy, vsa isnt as well... and the "feeling" of tape is not subjective I think... you feel how the tape goes wild with super amount of buy/sell contracts, or you feel how the tape is stuck... there are clear empiric and objective events on tape...

I think any aproach has to be dwelt as dificult or easy you want to make it...

If you WANT to learn it you will.... be newby or not... cheers Walter.