Tape is my shape (tape reading, time and sales) - Traders Hideout | futures io social trading
futures io futures trading


Tape is my shape (tape reading, time and sales)
Updated: Views / Replies:188,007 / 1,003
Created: by bloom Attachments:285

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 285  
 
Thread Tools Search this Thread
 

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

  #221 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 64 received


DionysusToast View Post
I can't recall seeing a thread on Tape reading as informed as this one on any forum. Let's all keep it up.

Pete

I agree.

Reply With Quote
 
  #222 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 64 received


bloom View Post
You can see there (all of the tapes) very large block at ask 1335.25-00 that shows you a big limit order seller on the ask. And so there is result
So this is was reversal print
Attachment 42643
Attachment 42642

How do you insert the pictures like that? When I insert pictures it says "Attached" above it and its at bottom of post.

O, Nice reversal.

Reply With Quote
 
  #223 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 45,884 since Jun 2009
Thanks: 29,109 given, 81,702 received



pbylina View Post
How do you insert the pictures like that? When I insert pictures it says "Attached" above it and its at bottom of post.

https://futures.io/help-tutorials-how-tos/10992-how-capture-upload-screenshot.html

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #224 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,518 since Nov 2010
Thanks: 753 given, 7,775 received
Forum Reputation: Legendary


rocky9281 View Post
Ohh..actually I didn't know that sizes like 2500 is considered as a big block...now I realise

It's all relative, isn't it?

If we consistently take 200 contracts to get through a level and then this goes up to 1000, then 1000 could be considered a large block relative to the other action so far.

Reply With Quote
 
  #225 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 359 received


pbylina View Post
You could of went LONG on the way up in addition to going SHORT at the swing high. I just marked some swing highs and lows from 4hr, 1hr and 15min time frames.

Attachment 42649

9:10:47- Big Prints BID(1.4450) (Stop levels-XX00, XX50)
Smooth Prints at ASK. Normal Liquidity.
9:12:03-Medium Orders at BID (1.4455). Level Holds. Now at 1.4450 you can see a Big Limit.
9:12:20-Another Big print at BID.(1.4456)
9:12:46 -Fast tape on ASK. Running threw prices on low Liquidity at ASK. 1.4455-Big BID LIMIT.
9:13:02-Big prints on BID. Then fast Tape.
9:13:40-Big Prints on ASK(1.4460)Tape Pops Up.
Go SHORT at 1.4461. SL-2 ticks. Easier said then done.


Just remember this situation and look how it will develop in the future. It would be once again and once again and once again. You must to know this scenario)))
I am glad you set up levels))) Easy to look tape at specific prices.
You do not go short in a few reasons
1) You see not familar situation
2) Your DOMs price were to high and you do not see higher ask limits, and this information could be important
3) Stop loss 2 ticks on such blowable and fast instrument))) You are a hero

What situation on EURO in Global
Trieshe is living his last days as the BIG BOSS of ECB. He would be fired soon))) % rate of Eurounion could be rised up or not, but the fireing of Trieshe could bring EURO down to the basic support levels there China would go in or maybe some other big GUYS. In Euro there are a few of big moneys and EURO slowly went in to the flat. Very tight flat i must say. But this is IMHO)))
Ok. What i would do at your place of EURO fx trader.
Keep in mind that at this moment EURO is thin and i should choose my trades very accurate.
1)So it would be trades at opening time or near the time of closing market.
2)It would be scalps as there no big money in this EURO FX futures at the moment
3)It would be mostly short,because at any time at any day there may be "unexpected" information or surprize that will move price very good
4)Trades would be there i will see large limit orders and confrimation from tape)))
In this situation with short that you recored on the video i would not go short. Why? I am afraid of this type of trades with uncertain outcome. So i must say you were right not taking this one))))
But near the time of closing market there was one more short from those price levels. And what quality trade it was i dont know

Reply With Quote
The following 3 users say Thank You to bloom for this post:
 
  #226 (permalink)
Trading for Fun
Kolkata,India
 
Futures Experience: Intermediate
Platform: Broker
Broker/Data: Broker
Favorite Futures: Futures
 
Posts: 100 since Feb 2011
Thanks: 52 given, 39 received

Bloom, till now, I have come to know about 2 setups with the T&S.

1. Price rejection (watching important levels like previous OHLC , Whole numbers etc.)
2. Repeated buy/sell.

Are there other setups/strategies related to T&S trading?Please discuss them..

Thanks

Reply With Quote
 
  #227 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 359 received


rocky9281 View Post
Bloom, till now, I have come to know about 2 setups with the T&S.

1. Price rejection (watching important levels like previous OHLC , Whole numbers etc.)
2. Repeated buy/sell.

Are there other setups/strategies related to T&S trading?Please discuss them..

Thanks

Break out. Rejection reversal. Trend continuation. Trend exhausting.

In trading you are always have a deal wtih differents ways of behavior. Brakeout or rejection.
Repeated buyer or seller i s a type of rejection at current specific price level.
If you are able to say will it be rejection reversal or brakeout in 80 % of all situations you ll be able to trade all of them in profit
Repeated buyer or seller is a one of the types of rejection. It is also could be "faded rejection" when sellers or buyers fade and are not strong enough to move market.
Setups have different parts and may consist from several different parts.One setup 1) appearing big print 2) first reaction 3) confirmed reaction on back test. Or another setup where you would not see anything like in the first one
It is many situations. All i can show you is the important parts of which each situation are. But universal chain (INFORMATION- REACTION) is always will be.
What is repeating buyer? This is information, but how market reorganized itself according to this new information shows you what is really occurs.
So setups from the tape had many "IF" "THEN". It is difficult to say "reversal setup is" and describe it.
Right way is to say "IF" price go to the support level and "IF" there prints big block at BID and the speed of tape slow down "THEN" we have reversal, but "IF" after slowing down tape begin run faster on downticks "THEN" there is a continuation of downmovement. All of the situations are not 100% but have some % of probability.
What all the traders must know to be succesfull:
1) What type of reaction you see at the current price or level? Is it a breakout or rejection reversal of the this level?
Breakouts supported by big prints and fast running tape. Some times it is a light speed.
Rejections reversals are quite different. There may be big prints, but tape will move slowly or push and brake.
Also there are exists difficult activites that difficult to understand and yoll have to do is stay away.
2) Does we are see continuation or exhaustion? Hold position while move continues and go out with exhaustion.

If there is a big ASK limit this is a micro resistance and same for the big BID limit. So for them whould be true all of support resistance rules and supply and deamand rules.

I am glad to give you material as for advanced traders, but the way i did this one is the best i can do))))
I hope you received answers. If not ask once again. We are here at one boat))

Reply With Quote
The following 6 users say Thank You to bloom for this post:
 
  #228 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 64 received

Low of Day Breakout

This setup could not be any easier. At low of day there is Huge Limit on BID. It fools public into placing market order buy. This fills the Professionals who are short on Limit ASK. I would of took this setup.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).




-------------------------------------------------------------------------------------------------------------------------
Bloom, you should make a video. I will give you the program I use in PM.

Reply With Quote
The following 2 users say Thank You to pbylina for this post:
 
  #229 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 359 received


pbylina View Post

-------------------------------------------------------------------------------------------------------------------------
Bloom, you should make a video. I will give you the program I use in PM.

Ok. No problms

Reply With Quote
The following user says Thank You to bloom for this post:
 
  #230 (permalink)
Elite Member
UK London
 
Futures Experience: None
Platform: NT and XTrader
Favorite Futures: Piano
 
Posts: 1,209 since Sep 2009
Thanks: 1,298 given, 1,451 received



pbylina View Post
This setup could not be any easier. At low of day there is Huge Limit on BID. It fools public into placing market order buy. This fills the Professionals who are short on Limit ASK. I would of took this setup.

Attachment 42678



-------------------------------------------------------------------------------------------------------------------------
Bloom, you should make a video. I will give you the program I use in PM.

If it's ok, I'd like to join the party lol.
Many thanks to bloom (may your garden grow ) and all for this thread.
I've been doing a similar thing (tape reading) but via a different route using Gomi delta and POC's.
ie: reaction to levels.
I got a lot of good info from another Russian on Forex Factory that is on the same lines as bloom so all great stuff
from my ancestors...!

If I can bore you all with my simple questions ?
pbylina, thanks for the videos.
When you say huge limit on bid, could you clarify (ie time/price), because I'm not really seeing it and there for not understanding ?
I didn't see any noticeable larger prints ?
Many thx

Every moment I wake up I realize I know nothing, and then I smile...

Last edited by zt379; July 6th, 2011 at 03:01 PM.
Reply With Quote

Reply



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

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

FIO Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

May
 

EasyLanguage ABC's: Mastering TradeStation Programming w/Chris Kaiser

Elite only
 

Prototyping Python Strategies (part 2: Backtesting) w/Ran Aroussi [special time: 1PM ET]

Elite only
 

Portfolio Diversification w/Brendon Delate @ Diversify Portfolio

Elite only

An Afternoon with FIO member Softsoap (being rescheduled)

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Some questions about tape-reading CME data ptd26 Traders Hideout 24 November 14th, 2014 11:05 AM
Pace of Tape trader8642 NinjaTrader 7 August 5th, 2014 11:11 PM
Anyone here use tape reading in their methodology ? Xzap Traders Hideout 23 December 19th, 2013 04:03 AM
What is tape reading? Big Mike Traders Hideout 34 May 20th, 2011 07:58 AM


All times are GMT -4. The time now is 03:09 PM.

Copyright © 2017 by futures io, s.a. Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-05-23 in 0.14 seconds with 20 queries on phoenix via your IP 54.224.200.104