[Soultrader]

Hi ashmat,

These are market profile levels. Do you use Tradestation? If not you will need to obtain a third party charting software. Or you can simply visit this useful site: Daily Notes for Day Traders | Pivot Points for Index Futures and more

[ashmat]

Thank you for the links. I use E-Signal for my charting, so I will have to dig a little. I also just wanted to thank you for this web site. I have been looking for info on tape reading and your videos are just excellent. I hope to be a long term member of your forum. Take Care!!

[Madman31]

I think these are a good series of tape reading tutorials. I could'nt really see the top of the chart because of the taping(recording). My only questions would be, 1. What is the significance of a 233 tick? and What volume levels is key to watch for on the tape? I use MarketDelta and TS aswell

[BackInBlack]

Originally Posted by Madman31 »

I think these are a good series of tape reading tutorials. I could'nt really see the top of the chart because of the taping(recording). My only questions would be, 1. What is the significance of a 233 tick? and What volume levels is key to watch for on the tape? I use MarketDelta and TS aswell

For a far better explanation of this than I can give, check out John Carter's "Mastering the Trade." It's a great book, and even has a section on Market Profile.

[Soultrader]

Originally Posted by Madman31 »

I think these are a good series of tape reading tutorials. I could'nt really see the top of the chart because of the taping(recording). My only questions would be, 1. What is the significance of a 233 tick? and What volume levels is key to watch for on the tape? I use MarketDelta and TS aswell

The 233 tick is just a personal preference. Regarding key levels.... this is entirely up to you to judge. What determines a key price level is based upon what you consider a significant level of support and resistance. I use alot of pivots, previous day high/low, and market profile levels.

[ItalianSharp]

Originally Posted by Soultrader »

The 233 tick is just a personal preference. Regarding key levels.... this is entirely up to you to judge. What determines a key price level is based upon what you consider a significant level of support and resistance. I use alot of pivots, previous day high/low, and market profile levels.

I think he meant to ask: How many contracts are you looking for on the tape to determine whether a level is important or not?

[Soultrader]

Originally Posted by ItalianSharp »

I think he meant to ask: How many contracts are you looking for on the tape to determine whether a level is important or not?

ahh okay. It really depends on the contract you trade... I would place any lot great than 25 on the YM to be signficant enough to grab my attention. 100 lots or more on the ES and 20-30 on the ER2. With thick contracts like the bonds... anything over 1000.

[daedalus]

Thanks for posting this up. I've been intrested in tape reading for a long time if nothing else, as a way to manage trades i'm already in. I do have a couple questions.

Is there anyway you can describe the purpose of brackets and are there any specific rule sets you look for in reading tape for entries?

Also, with the recent huge volatility in markets like the ES, most of the lots being cleared are 10+... Hell I saw a 910 lot clear today. Do you modify your T&S in markets like this to filter out the "noise"?

I guess, I kind of see where your going with your videos, and they are the best i've seen to date on this material. I'm just still a little confused on what the key things to look for are, and if there are specific setups you "see" in the tapes that I could look for?

Thanks in advance for all of your help.