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Showing results for tags '[tape reading]'.
Found 5 results
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I'm starting this thread for one primary objective. to learn to see behind the flow like pro's. I ask everyone to post their trades live I'm targeting mainly statistics and volume traders. which includes vsa, mp , md, orderflow the idea is to try and gauge markets using a statistical edge, that had been used by few pro traders, like JP, Darreeb, PlantP. start posting : Rules No religeon no politics be respectful to others. we are looking for what really works, in the markets. I have a good trading experience. and will be posting my trades as well Some creteria needed: Weekly and Daily analysis made simple (Trend Direction) Inttaday Direction and analysis, Pricelevels to excute the trades at ENTRY AND EXITS based on smaller timeframe ( tick , 1min, or 3min) trade Management........ Enjoy lets begin.
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While watching the tape at the Bid / Ask action sometime there are trades at Bid and than without any up tick a trade at the Ask with the same price (the opposite occurs too). Attached is example from ES T&S yesterday using IQfeed. I am wondering how such event is possible, is it bad data ? Thanks.
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[tape reading] Price Action Traders, What Actually is It?
Jumper posted a topic in Technical Analysis
Hi, For those of you out there, what ACTUALLY is tape reading, in our day and age? What do you think trading off "price action" means? 1min chart with DOM? Tick charts? T&S? I have a dilemma, all indicators I have ever used are completely useless, when it comes down to it, they might look fancy in hindsight, but thats about it. So I tend to try to stick to clean charts, 2m with volume and DOM, trading mainly index futs. What exactly is tape reading? Is using a time-based chart wrong for this because of time itself pushing the chart through, so you get a distorted perception? True price action would be something that is PURE price moving by itself, when it wants not being forced to draw empty bars/candles on a time based chart etc? Wouldn't it? I'm just interested to hear from those who ACTUALLY know what they are talking about, that have the experience, that can share with us what trading is actually all about, most successful traders I have seen, and this is personally, from my own experience, have been traders who scalp or trade with just price action, reading the order flow, watching for the bigger players etc It seems to me that its the 90% that get it wrong that are the ones that use MACDs, RSIs, MAs etc. Does it even matter what method/indicator one uses? It seems as though it doesn't, indicators seem to be of not much use if you ask me, so there has to be something else at play? Would be glad to hear some refreshing honest insights/knowledge about what it actually takes to read price action, what it takes to trade properly, the things that one should be looking out for etc. Please dont turn this thread into a fight fest, or a puff your chest up contest. Jumper. -
[tape reading] TTICK. Anybody Have an Idea How Does It Work?
maxima posted a topic in Technical Analysis
Hi I am trying to create an indicator which displays correlation between ES and TICK movements. I found that Tom Busby already made it and calls it TTICK. But this is a propreitary solution. Could anyone point to a discussion or open information which could give me the better idea where to start. Thank you. -
Note: I refer to the SPI a lot in here, but you could substitute the SPI for the E-MINI S&P 500. (Same questions apply) I'm still reading widely at the moment and came across something interesting. The website URL is here: http://www.camron.com.au/algorithm.htm How much of this algorithmic trading is actually going on out there do you think? Is this website quote accurate? What proportion of the SPI traders would be like us--sole traders(disclaimer:I only paper trade), if you will? Are we a tiny tiny proportion of the number of conracts that get traded? (Which is what I would imagine to be the case but it doesn't hurt to gain confirmation). My second question is, how accurate are thse depth of market indicators? I've read that brokers can manipulate the DOM such that the viewer gets a bluff or misrepresentation of if there is more buying then selling taking place or vice versa. How widespread is algorithmic trading in all markets across the ASX? (or NYSE etc)--Is this of concern to traders like us on Traders Lab? Here is a quote:
