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


Tape is my shape (tape reading, time and sales)
Started: by bloom Views / Replies:184,188 / 1,003
Last Reply: 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)

  #241 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 337 received


pbylina View Post
So what is the purpose of showing a BIG Limit? Im getting the feeling its only to scare people. Because I see big prints when the limits are normal size.

It may have different goals.
One of them is PUPPET to check big guys. BIG guy see large order and want to take it and go through nearest levels to fill it. So hi fill another orders of the trader that set PUPPET and that trader go out and take off PUPPET

Also Big orders are placed than large position already set and trader shows that this size is all he had left to fill. (Long is set and he shows big bid or short and he shows ASK) .

Another is "SCARECROW"

And different thing when you see large prints on BID and increasing BID. This is real

Reply With Quote
The following user says Thank You to bloom for this post:
 
  #242 (permalink)
Elite Member
belmont,ca
 
Futures Experience: Intermediate
Platform: ninja
Broker/Data: amp
Favorite Futures: es,nq,6b,6e,ym,tf
 
hoseman's Avatar
 
Posts: 16 since Jan 2010
Thanks: 31 given, 6 received

tape reading and market profile

I think this is by far the most active thread I have seen on futures.io (formerly BMT). Great learning and thank you for all the knowlege and open comunication. Now here comes a stupid and probably obvious question. Does anybody use tape reading at important levels in the market ,like at market profile area's?

Reply With Quote
 
  #243 (permalink)
Elite Member
UK London
 
Futures Experience: None
Platform: NT and XTrader
Favorite Futures: Piano
 
Posts: 1,209 since Sep 2009
Thanks: 1,296 given, 1,452 received



hoseman View Post
I think this is by far the most active thread I have seen on futures.io (formerly BMT). Great learning and thank you for all the knowlege and open comunication. Now here comes a stupid and probably obvious question. Does anybody use tape reading at important levels in the market ,like at market profile area's?

I think bloom mentioned something about this here...post # 120
I'm still on the first 2 letters of the alphabet B/A


bloom View Post
Now you can see what potential lies in the simple things. High and low of the day. The opening and closing. Pros can not know where the stops and your orders. This is prohibited by law))) But they know how you think they know what you're doing. Why? They were you.
With regard to insider information, it is generally a grade. It is not available either to me or you. But you all saw how high the day worked.
Inside, it's mostly about contracts for companies, statistics, decisions at government level.
We have a stream of orders. Now, with regards to important levels. Quite clear that we must look at the tape at these levels. If the market goes higher, the tape will behave on the days high one type , if the market does not go higher, the tape will behave differently.
Need basic knowledge of the theory of the auction market. Read somewhere. Look. A profile of the market well write about it.


Every moment I wake up I realize I know nothing, and then I smile...
Reply With Quote
 
  #244 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 63 received


bloom View Post
For doing good tape reading we always must think in OHLC or price levels, reaction, Size of limits and speed of the tape.
If you are all want to progress you ll have to do this.
Just understand you are doing this not only for yourself. Other peoples reading this thread to, and may find it more helpfull if information will be more structurized and organized)))) And those people would share expirience to and we will move further.
Also your progression will be more effective with structure
Today was inside range day. Tomorrow important news and market will go powerfull. Be prepared to trend tomorrow or after tomorrow

Ok. Thats what I like about videos. But a structurized observations helps.

I remember like a month ago it was NFP. There were BIG ASK and every time market would go through them. Easy. I talked to you about this. Let's see if it will be like that tommorow or Friday. Then we will know what a trend continuation day looks like.

Reply With Quote
 
  #245 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 63 received

Futures Edge on FIO

What value do you place on the webinars on FIO?

 

zt379 View Post
Ok here come the stupid questions...
Hoping you can help me overcome my ignorance:
1. "if you see 1000 at ask, uptick"
are you saying a 1000 printed on the T&S at the ask price ?
Where are we "seeing" this 1000 ?

2. If yes, then how can that be a limit sell ?
lets say at the time the bid/ask was 1134.00/1134.25.
1000 printed at 1134.25
Wouldn't the 1134 bid price have to go to 1134.25 bid in order for the 1000 to be filled as a limit sell?

3. If so the 1000 would be at a bid prince on T&S no ?

4.If the 1000 and then another 1000 and then the 10,000 were at an ask price on T&S why wouldn't they be market
buy orders ?

5. In other words how can a limit sell be filled at an ask price?

I'm obviously misunderstanding something and really appreciate any feedback.

thx

1) Yes. 1000 at ASK is Print on Time and Sales. It either filled the whole level or the remaining orders got pulled. Then Uptick.
2)I am no expert, but I always thought that what ever is on the limits and it gets filled then it shows it on Time and Sales.
No. A market order Buy fills the ASK limit. You are getting confused with if you were selling on limit then yes the BID would have to touch you.
3) not so
4)Market orders fill the Limits. So I think that on the time and sales you see how big the limit orders were.
5)Market BUY.

If I am wrong please tell us. I might be misunderstanding something too and it might be imparing my tape reading.

Reply With Quote
 
  #246 (permalink)
Elite Member
UK London
 
Futures Experience: None
Platform: NT and XTrader
Favorite Futures: Piano
 
Posts: 1,209 since Sep 2009
Thanks: 1,296 given, 1,452 received


zt379 View Post
Ok here come the stupid questions...
Hoping you can help me overcome my ignorance:
1. "if you see 1000 at ask, uptick"
are you saying a 1000 printed on the T&S at the ask price ?
Where are we "seeing" this 1000 ?

2. If yes, then how can that be a limit sell ?
lets say at the time the bid/ask was 1134.00/1134.25.
1000 printed at 1134.25
Wouldn't the 1134 bid price have to go to 1134.25 bid in order for the 1000 to be filled as a limit sell?

3. If so the 1000 would be at a bid prince on T&S no ?

4.If the 1000 and then another 1000 and then the 10,000 were at an ask price on T&S why wouldn't they be market
buy orders ?

5. In other words how can a limit sell be filled at an ask price?

PS: obviously there is a sell at the buy price other wise there would be no fulfillment
of orders, I'm just not understanding the way it's displayed on T&S I guess

I'm obviously misunderstanding something and really appreciate any feedback.

thx



pbylina View Post
1) Yes. 1000 at ASK is Print on Time and Sales. It either filled the whole level or the remaining orders got pulled. Then Uptick.

ok thx, with you so far

Quoting 
2)I am no expert, but I always thought that what ever is on the limits and it gets filled then it shows it on Time and Sales.

so where are we seeing these "limit" sizes ?
In order to compare them with whats been filled as seen on T&S ?

Quoting 
No. A market order Buy fills the ASK limit.

Yes with you other wise there would be no market I guess..bit I wish I could always get a sell filled at the ask price..!

Quoting 
You are getting confused with if you were selling on limit then yes the BID would have to touch you.

Yes that's what I asked and presumed.thx

Quoting 
3) not so

need to compute this lol

Quoting 
4)Market orders fill the Limits. So I think that on the time and sales you see how big the limit orders were.

Ok but this is where I'm being confused I think by how things are displayed on T&S.

Quoting 
5)Market BUY.

yes I follow, again no market otherwise, but same as 4 above, where are we getting these limit numbers that are either filled or not as shown on T&S, I thought we were just looking at T&S ?
many thx for the feedback...still a bit confused.


Quoting 
If I am wrong please tell us. I might be misunderstanding something too and it might be imparing my tape reading.

No I'm sure it's me..it's a conceptual thing I think that I haven't got my head around.
I've found most of trading is a contradiction, ie: upside down, ie we need to look to sell as prices go up and buy as they fall (broadly speaking), trade to make money, but you're lost if you ever think about the money etc..etc... but it takes time to see it that way...a peak to trough and trough to peak kind of thing...

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

Last edited by zt379; July 6th, 2011 at 06:03 PM.
Reply With Quote
 
  #247 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 63 received


hoseman View Post
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

I just asked a programmer how much would cost. $750!

Reply With Quote
The following user says Thank You to pbylina for this post:
 
  #248 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NinjaTrader
Favorite Futures: Euro
 
Posts: 212 since Nov 2010
Thanks: 158 given, 63 received


zt379 View Post
so where are we seeing these "limit" sizes ?

This is what i mean. On the DOM, you see 150 on ASK. This is total orders. What we dont know is if its 3 - 50 lots or 150 1 lots, etc. But when it gets filled with a market order then on the Tape(T&S) it prints, showing us the sizes of the orders that were on limit. Thats at least how I think it works.


Quoting 
Yes with you other wise there would be no market I guess..bit I wish I could always get a sell filled at the ask price..!

Yea I wish that too sometimes.

Reply With Quote
 
  #249 (permalink)
Elite Member
UK London
 
Futures Experience: None
Platform: NT and XTrader
Favorite Futures: Piano
 
Posts: 1,209 since Sep 2009
Thanks: 1,296 given, 1,452 received


pbylina View Post
This is what i mean. On the DOM, you see 150 on ASK. This is total orders. What we dont know is if its 3 - 50 lots or 150 1 lots, etc. But when it gets filled with a market order then on the Tape(T&S) it prints, showing us the sizes of the orders that were on limit. Thats at least how I think it works.

Yea I wish that too sometimes.

thx pbylina
Ok, referencing the Dom depth of market levels makes sense.
I didn't know this was being discussed, apologies.

I can also understand those levels above the ask being resting buy stop orders and below the bid being resting sell stop orders.

I still hope those with more understanding than me can explain getting a sell limit order filled at an ask price and conversely a buy limit getting filled at a bid price. I want to understand this properly in order to benefit from what's
being discussed in the thread as a whole.

Many thx

Every moment I wake up I realize I know nothing, and then I smile...
Reply With Quote
 
  #250 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,464 since Nov 2010
Thanks: 742 given, 7,525 received
Forum Reputation: Legendary



pbylina View Post
I just asked a programmer how much would cost. $750!

To be honest, I'd do it but I just don't understand why it would be useful as yet.

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)
 

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

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

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

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 12:48 PM.

no new posts
Page generated 2017-03-27 in 0.17 seconds with 20 queries on phoenix via your IP 54.211.233.235