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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)

  #241 (permalink)
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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

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  #242 (permalink)
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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?

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  #243 (permalink)
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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.


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  #244 (permalink)
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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.

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  #245 (permalink)
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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.

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  #246 (permalink)
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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.
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  #247 (permalink)
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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!

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  #248 (permalink)
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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.

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  #249 (permalink)
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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...
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  #250 (permalink)
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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.

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