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Tape is my shape (tape reading, time and sales)


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Tape is my shape (tape reading, time and sales)

  #1321 (permalink)
Ljubljana
 
 
Posts: 4 since Mar 2019
Thanks: 1 given, 2 received

Who teaches the tape, download the ES data today for this european morning and learn by heart!
This is a textbook...
I short 2848.00

Good luck

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  #1322 (permalink)
Ljubljana
 
 
Posts: 4 since Mar 2019
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easyjet View Post
Who teaches the tape, download the ES data today for this european morning and learn by heart!
This is a textbook...
I short 2848.00

Good luck

+20pt

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  #1323 (permalink)
Russia
 
 
Posts: 473 since Apr 2011
Thanks: 47 given, 583 received



easyjet View Post
+20pt

Only 1 trade? Man you missing the point. So many oportunities and you took only 1 trade.

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  #1324 (permalink)
Kiev Ukraine
 
 
Posts: 9 since Jan 2019
Thanks: 1 given, 0 received

Hi)
I know that people here predominantly trade futures but I hope someone may answer this question

I`ve started to use order flow recently as complementary filter to my strategy setups on Futures markets. I want to get involved in stock markers as well and as I know classical tape reading is still used by stock traders. But they watch time&sales window only and I`ve never heard of anyone trying to utilize Footprints charts, software like Jigsaw etc. in the stock market.

I couldn`t find anywhere the explanation why do stock traders exclusively use time&sales only and ignore all order flow tools which we use on futures market? Is there any technical reasons behind that?

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  #1325 (permalink)
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
 
paps's Avatar
 
Posts: 1,712 since Oct 2011
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Ali1440 View Post
Hi)
I know that people here predominantly trade futures but I hope someone may answer this question

I`ve started to use order flow recently as complementary filter to my strategy setups on Futures markets. I want to get involved in stock markers as well and as I know classical tape reading is still used by stock traders. But they watch time&sales window only and I`ve never heard of anyone trying to utilize Footprints charts, software like Jigsaw etc. in the stock market.

I couldn`t find anywhere the explanation why do stock traders exclusively use time&sales only and ignore all order flow tools which we use on futures market? Is there any technical reasons behind that?

u can use footprints for stocks...u can use DOM for stocks....its a question of if the tool supports.

there is no right or wrong....time n sales is what is printed...yes if u want rudimentary stuff u can watch t&s scroll by and guage. the boyz r using sophisticated tools....not the ones u mention. time n sales is imp as thats what has transacted. unlike watching a DOM...unless u can dissect the DOM. watching sppof n stuff if u think piques interest....but on DOM also u want to know what has transacted....what value is there in a spoof??

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  #1326 (permalink)
Kiev Ukraine
 
 
Posts: 9 since Jan 2019
Thanks: 1 given, 0 received

I remembered that I`ve asked Peter Davis on his webinars about using Jigsaw tools in stocks several months ago. He replied rather vaguely that because of dark pools its more reliable on Futures. Didn`t get it actually. All Order Flow tools show you the same data which classical DOM and Time&Sales does but it just aggregates it in a more readable way.

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  #1327 (permalink)
North Carolina
 
Experience: Beginner
Platform: NinjaTrader, Tradestation
Trading: es
 
Posts: 644 since Nov 2011

@Ali1440 The whole concept of order flow revealing information is based on the cost to transact against the spread. If the spread is narrow the information is not going to be worth as much. Futures have larger spreads. This is why you find more futures traders who tape read. Order flow tends to have more value in leveraged products where the spread is significant cost to transact.

Most tape readers were never order flow traders anyway. What they were doing was something different.. They thought they were reading order flow but they really weren't.

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  #1328 (permalink)
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
 
paps's Avatar
 
Posts: 1,712 since Oct 2011
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yes there is a component of dark pools in stocks....but that too will show up in prints. they have a stipulation to be shown in xx time

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  #1329 (permalink)
Russia
 
 
Posts: 473 since Apr 2011
Thanks: 47 given, 583 received


Ali1440 View Post
Hi)
I know that people here predominantly trade futures but I hope someone may answer this question

I`ve started to use order flow recently as complementary filter to my strategy setups on Futures markets. I want to get involved in stock markers as well and as I know classical tape reading is still used by stock traders. But they watch time&sales window only and I`ve never heard of anyone trying to utilize Footprints charts, software like Jigsaw etc. in the stock market.

I couldn`t find anywhere the explanation why do stock traders exclusively use time&sales only and ignore all order flow tools which we use on futures market? Is there any technical reasons behind that?

You can ahd absolutely use Order Flow in a stocks trading. Supply and demand works fine with queve instruments based on matching size market to limits which stocks are.
If you want i can show you how you can trade stocks. It is has slight difference with futures, because of less numbers and differences between trading groups. Stocks are not that flexible as futures. This makes order flow reading there little bit different. but still fundamentally based on Supply and deman.

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  #1330 (permalink)
Russia
 
 
Posts: 473 since Apr 2011
Thanks: 47 given, 583 received



paps View Post
yes there is a component of dark pools in stocks....but that too will show up in prints. they have a stipulation to be shown in xx time

exactly. It is irrelevant because EVERYONE have this impact on their trading. THis is why we can even not consider this. But what IS IMPORTANT is how market reacts to the size camed out of dark pool.

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