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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)

  #161 (permalink)
Elite Member
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bloom View Post
it is a joke. all ok ))))

Lol. I dont know when you are being serious or not.

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  #162 (permalink)
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Level 2

Is it possible to make trade decisions without using Level 2 Quotes? Only T&S is enough?

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  #163 (permalink)
Market Wizard
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rocky9281 View Post
Is it possible to make trade decisions without using Level 2 Quotes? Only T&S is enough?

Theoretically, yes - you'd have to be a bit of a savant to do it with a naked time & sales though...

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  #164 (permalink)
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DionysusToast View Post
Theoretically, yes - you'd have to be a bit of a savant to do it with a naked time & sales though...

Hi DionysusToast,

Nice to hear that. As our country does not publish Level 2, this is what that I have to learn. Any way, I am totally clueless on how to use the T&S. How should I start reading T&S? Can we discuss these things in a detailed way so that we can formulate a workable way of using the T&S?

Do I have to have a knowledge of the common trading algorithms used by the big players to buy and sell?


Last edited by rocky9281; June 29th, 2011 at 11:19 AM.
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  #165 (permalink)
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Hey, Bloom

What does it mean when there is a HUGE best offer and the market eats it and then drops like 10 ticks? Like your were talking about, if the Huge Offer gets eaten and goes up it means that the Pros ate it. If It gets eaten and drops it means the public ate it and Pros were on the limit?

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  #166 (permalink)
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pbylina View Post
Hey, Bloom

What does it mean when there is a HUGE best offer and the market eats it and then drops like 10 ticks? Like your were talking about, if the Huge Offer gets eaten and goes up it means that the Pros ate it. If It gets eaten and drops it means the public ate it and Pros were on the limit?

How can you be so sure that it was eaten and not pulled? Did you see the large print in the TnS that confirms that it is actually eaten ?

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  #167 (permalink)
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rocky9281 View Post
How can you be so sure that it was eaten and not pulled? Did you see the large print in the TnS that confirms that it is actually eaten ?

Good question. makes me think. On T&S there was like a 20 lot print(big trade). The offer was like 200ish.

So if it was eaten, then I would of seen a fast tape. And I guess if it was pulled, then the tape would be slow....

Now the problem is, I cant remember if it was fast or slow...

Why would a pro put a huge fake best offer it the first place? He would risk being filled in the wrong way.

Maybe it was Real big offer, just no liquidity to buy it.

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  #168 (permalink)
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rocky9281 View Post
How can you be so sure that it was eaten and not pulled? Did you see the large print in the TnS that confirms that it is actually eaten ?

There are some DOMs - like Tradestation (and TT I think) that show qty traded at each level.

Using a tool like this would help you see what's pulled & what isn't.

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  #169 (permalink)
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LIQUIDITY - 1987 stock market crash

Heres a quote from a good pdf: " One story is that on Oct 19, 1987, market makers stopped
providing liquidity after they ran out of capital.
Price impact rose as liquidity dried up.
Grossman and Miller (p. 632) “On the futures exchange,
order flows that might have moved the market by at most a tick
or two the week before were moving the market by 10 or 20
times that amount
.”

"In a stock market crash, all stocks become more illiquid
and fall, but generally Treasury bonds rise."

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  #170 (permalink)
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2 windows for time and sales


Does anyone have a dual time and sales for ninja. I ask ninja and searched their forum with no luck. i would like to have 1 window for buy and the second for sell. ninja say's it's in the works but no time line. Thanks

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