[natedredd10]

I question that the online "bitchers" about this move could read the tape at all anyway.
As if the tape on ES is too slow now, give me a break. If anything this move has made reading ES much more interesting..

[BlowFish]

I wonder if you mean tape reading in it's most literal sense (looking at time and sales and possibly the order book) or whether you are talking about a more liberal interpretation (using volume or market delta or other new fangled fancy indicators)?

If the former you will likely need gazillions of hours of screen time and there is a dearth of quality information to learn from, You will likely need to rely on your own observation. It's a long path.

If the latter you might want to carefully consider what you put on your charts. It seems to me a lot of the new fangled indicators certainly add an extra layer of information but (for me) the improvement in my trading decisions is marginal over say a simple volume histogram. Anyway dosen't stop me researching.

But to answer your question in a word. No.

[InGodsfavour]

Emios....RELAX!

Learn to trade effectively. The tape reading is not mandatory. Many other better ways. But if you have to, then just do it. You do not have to readjust as you never read the old way to begin with.

Finish school and get ready for a real education. Trading is like a high wire balancing act. No room for any mistakes.

Re the pattern trader BS...Open an acct in Canada or the UK to skirt that nonsense.

It will be here when you finish school. Don't worry.

BTW futures are GREAT trading vehicles. Better than stocks in many ways.

Finish your Francais Education and get ready for the ride of your life!

[TheDude]

At one stage I became interested in tape reading (T&S), but found the prints too fast to be of use - for me. Clearly a lot has changed since Wyckoffs time! A string of 200 x 1 lots peppered with 5 and 2 lots had little meaning now larger orders are broken up.

I tried filtering the tape, on say 10 lots. This was easier to follow, but then of course you miss the 2000 lot order iceberged in <5 lots; which is still important.

I decided on another route: I used range bars of a few ticks. I looked at each range to be 1 'price', and compared the volume print of each 'price'/range bar to be the volume print at the price for comparison. I imagine there are countless other ways of utilising other indicators and T&S info, but then it just becomes a derivative of a standard volume bar anyway.

In the end - after a few months, I felt I was chasing my tail somewhat. I was making little progress and decided I should just go back to what was working for me before - good old time bars and volume bars. The range bar idea may be of value to someone else though.

It's all about finding your niche. Tape reading requires a very analytical mind IMO. I'm more creative in personality, so it just doesn't suit as well as other approaches.

[LS_Chad]

See: Investor/RT - Answers* (LinnSoft.com) for a review of changes and their effects.

[Tiobingo]

This was very useful, thank you. Do you know if this change affected other markets? How about the Dow, Nasdaq or Russell eminis?