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Showing results for tags 'tape reading'.
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Hi there, i started read about a tape reading but after i read some articles about High frequency trading i am worring if its still able to read the tape using Time and Sales when there are many companies using HFT ? :crap: what is your opinion ?
Hi, I'm becoming more and more interested in trading based on a time & sales window, a.k.a. reading the tape, but I have a lot of basic questions. It's my understanding that in the e-mini futures, the S&P for example, for each buyer there is an equal seller(s) and vice versa. However, whenever I look at the tape and see a buyer at say 1390.50, I do not see the equal seller going through at the same price. I was told by a friend that they only show one because they don't need to print it twice. If that's true, how is it decided whether a buy or sell order is shown on the tape? My goal is to hopefully gain enough skill in reading the tape that I can trade profitably with it, but as you can see I have a lot basic questions to get out of the way. I've read multiple books on the subject, the most popular like Tape Reading and Market Tactics, Techniques of Tape Reading, etc., so I have a good understanding of how accumulation/distribution, price testing and rejection, shake outs and the like work book-wise, but when I try to apply these principles in a live market I can't seem to make it work. I believe the main reason is I still have to learn the basics thoroughly. Lastly, are there any good books, courses, etc, that teach modern tape reading based off the time & sales window for the futures? Sorry for the long post and I appreciate any advice.
I find the concept of tape reading and order flow analysis fascinating. However, it seems to me that there are not too many traders who exclusively, or perhaps even primarily, rely on tape reading for their entry/exit decisions. I've also found that different people have different definitions of what tape reading comprises of! If you use tape reading and order flow analysis to time your trades, can you please elaborate on what is tape reading and what is actually being 'read' (T&S or L2 or other etc). If you can expound, it will be much appreciated - or even if you just recommend resources, I'll still be grateful. Thanks for your help!
This is my first post on TL and I hope it will be start of something refreshing. I've been a member of T2W, having learnt a lot over there, but recent turnoil and lack of interesting discussion made me leave that site. I won't be posting as much as I did over there :missy:, I'll focus on developing my own blog instead and will hope to learn something more along the way. I would like to continue one thread, which I started two weeks ago, but unfortunately got derailed so many times that ultimately there was no point in doing so. From what I've seen, the odds of this happening here are next to zero, thankfully.