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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)

  #11 (permalink)
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I have not said that Tape Reading doesn't work. I use it every day to confirm every trade I make.

What I did say was that the large prints on the tape you see in Ninja Trader are meaningless since the CME tick reporting changes in 2009. If you look for these and consider them the only large orders being thrown at the market, you are mistaken.

Looking for big prints before 2009 would get you on the side of large players. Looking for big prints after 2009 merely shows that there are large limit orders filling a large market order. In fact if you see large prints hitting the offer, it means you have large limit orders on the offer and this does not bode well for a long move. It means you have large buyers (although you can't tell how larger) and large sellers with limit orders at the same time. This is a good time to sit aside and let them battle it out.

As for who taught that guy, what's your point? The video is simply an explanation of how the CME changed the tape in 2009.

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  #12 (permalink)
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DionysusToast View Post
I have not said that Tape Reading doesn't work. I use it every day to confirm every trade I make.

What I did say was that the large prints on the tape you see in Ninja Trader are meaningless since the CME tick reporting changes in 2009. If you look for these and consider them the only large orders being thrown at the market, you are mistaken.

Looking for big prints before 2009 would get you on the side of large players. Looking for big prints after 2009 merely shows that there are large limit orders filling a large market order. In fact if you see large prints hitting the offer, it means you have large limit orders on the offer and this does not bode well for a long move. It means you have large buyers (although you can't tell how larger) and large sellers with limit orders at the same time. This is a good time to sit aside and let them battle it out.

As for who taught that guy, what's your point? The video is simply an explanation of how the CME changed the tape in 2009.

You are right. Changed the code or something like that out there in the display strip. If the queue is 10 traders each with 300 contracts for the BID, then you see the 3000 contracts on a BID. If someone is hit in the BID with market order 3000 you will see a 10 print on 300 contracts at the current price at which the BID was. All printing will be at the same time. Say 9:45:51. Will be a huge block.

And if this bid will be a one limit order for 3000 contracts, then you are after a market order to sell in 3000 will see a single print in the 3000 for Bid. Such an alignment just shows you the locations where there are dense limit orders. And also shows where limit orders just a series of small orders. This gives additional information.
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Here's an example as proof that I not making this up. Can you look at history and what it was LOW of the day in the end. It was May 20 Year 2011. And then we'll talk about the meaninglessness.

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  #13 (permalink)
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DionysusToast View Post
In fact if you see large prints hitting the offer, it means you have large limit orders on the offer and this does not bode well for a long move. It means you have large buyers (although you can't tell how larger) and large sellers with limit orders at the same time. This is a good time to sit aside and let them battle it out.

2009.

Another thing that you say that you need to stand aside and wait until you finish the movement. I just say that we should wait until the end of aggression. If you had a great Seller, who moved the price down, and then, on moving down, there is already no big prints on the BID. That means that his aggression was over, downward movement ended with a high probability. And here is where your input.
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Look at this example. On the BID has no large print. The seller ended the aggression, and limit orders on BID are worth. Buyer does not fill and we need only wait so that he began to aggressively enter. In the end, you have a very good entry with good risk ..

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  #14 (permalink)
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Bloom

You seem pretty bright & it's a shame you are trying your hardest to have a battle here.

I think you need to look into this yourself.

Scenario 1.
Low of the day. Large player puts in a 1000 lot market buy order.
He gets filled against fifty 20 lot limit sell orders.
The time & sales shows (all at ask)
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,

Scenario 2
Low of the day.Large player puts in a 1000 lot market buy orded.
He gets filled against a 2000 lot sell limit order
The time & sales shows
1000 At Ask

Now - in scenario 1, you do not have a large player putting limit orders on the offer. This is a lot more bullish that scenario 2. Still scenario 2 appears more bullish because of the larger size print.

The problem is that since 2009, the programmers at the CME decided to give us 'more information' which effectively reversed the meaning of large prints.

Still - if it's working for you, good luck with it.

Cheers

DT

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DionysusToast View Post
Bloom

You seem pretty bright & it's a shame you are trying your hardest to have a battle here.

I think you need to look into this yourself.

Scenario 1.
Low of the day. Large player puts in a 1000 lot market buy order.
He gets filled against fifty 20 lot limit sell orders.
The time & sales shows (all at ask)
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,

Scenario 2
Lot of the day.
Large player puts in a 1000 lot market buy orded.
He gets filled against a 2000 lot sell limit order
The time & sales shows
1000 At Ask

Now - in scenario 1, you do not have a large player putting limit orders on the offer. This is a lot more bullish that scenario 2.

The problem is that since 2009, the programmers at the CME decided to give us 'more information' which effectively reversed the meaning of large prints.

Still - if it's working for you, good luck with it.

Cheers

DT

About the Gods. Forums. So I'm talking about the same. No battle and I was not planning to organize.

In scenario 1 as the time you see that the prints at one time. At Ofer no big Celler. The script is such a strong buyer against the weak sellers. That's right
In scenario 2, if you see a big print on the ASK that means that the ask someone puts a big LIMIT ORDERS. That I wanted to say. You are probably not understand me. At first I was saying. Say thank you Google translator)

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  #16 (permalink)
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Bloom - I missed the fact you were using google translator!

This must make forums quite a challenge! Good luck...

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  #17 (permalink)
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DionysusToast View Post
Bloom

You seem pretty bright & it's a shame you are trying your hardest to have a battle here.

I think you need to look into this yourself.

Scenario 1.
Low of the day. Large player puts in a 1000 lot market buy order.
He gets filled against fifty 20 lot limit sell orders.
The time & sales shows (all at ask)
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,20,
20,20,

Scenario 2
Low of the day.Large player puts in a 1000 lot market buy orded.
He gets filled against a 2000 lot sell limit order
The time & sales shows
1000 At Ask

Now - in scenario 1, you do not have a large player putting limit orders on the offer. This is a lot more bullish that scenario 2. Still scenario 2 appears more bullish because of the larger size print.

The problem is that since 2009, the programmers at the CME decided to give us 'more information' which effectively reversed the meaning of large prints.

Still - if it's working for you, good luck with it.

Cheers

DT

Why does it matter if its a 1000 lot or 50 - 20 lots? Its still 1000 contracts at that price either way. In Investor RT theres an option to aggregate all similar ticks at that price. So if there were 50 - 20 lots it would show 1000 at that price.

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  #18 (permalink)
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39061
as I promised. Screenshots today day.GAP soon take.

Attached Thumbnails
Tape is my shape (tape reading, time and sales)-7.png   Tape is my shape (tape reading, time and sales)-6.png  
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bloom View Post
When we make a trade, it is important to know who now control the situation. Typically, if someone starts to control the situation, he becomes aggressive, and he who loses control, starts to go away. Aggression manifests itself in the active input market, whereas the deviation manifests itself exits.

As is usually easier to give an example.
Price is on the LOW of the day. When driving down the big prints warrant dauntics, they are compressed in time and on a narrow spread. Tape is moving quickly. Probably, someone comes to the breakdown of the LOW of the day, confident that the price will go lower. On the other hand, perhaps, other pros use momentum to enter the Long limits.

In this figure is clearly visible reaction to the pro price drop below the LOW of the day. They refused to drop the price down. At that time, public reaction was easily predictable. These shorts at the breakdown, thereby opening longs professionals.
Attachment 38994

When the price tested LOW, mostly walked, as seen from the figure, fine prints on dauntics because I do not see large prints on a dauntics LOW of the day. The situation with aptikcs do the opposite. Reaction pross suggests that they see no reason to drop the price. This information gives us an understanding of where the market goes. Then, when we see public reaction to the fall, we verify that the pros are also confident in a pinch, you can, using the reaction of the audience, enter on Long.

Why do you have it it Black and White only? Whats the difference between the Left and the Right tape? Is the left orders greater than 100? How do you know to enter long when its in black and white?

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  #20 (permalink)
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pbylina View Post
Why do you have it it Black and White only? Whats the difference between the Left and the Right tape? Is the left orders greater than 100? How do you know to enter long when its in black and white?

Basically you look speed of prints. To enter, you want the tape moved slowly. If goes fast, you will need to wait.
Also see the number of large prints. If the return of their benchmark rates was small, it decreases aggression. Most of the big traders. Be sure to see the time that prints have not been compressed into a bunch of time or at one time.

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