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:188,509 / 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)

  #301 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 363 received


pbylina View Post
This might be missing piece of our puzzle... Basically, it's a sideways tape that shows cancled orders! I think it will be very helpful. I dont how the indicator knows that the orders were canceled but Im not gonna ask questions and just try it and see if it helps.
Attachment 43963

Now that I look at it compared to the Tape, I ask you guys a question. Are they really cancled orders if they shows up as a prints on the tape?

Attachment 43970

All you see at the tape is absolutely true
Look this
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following 2 users say Thank You to bloom for this post:
 
  #302 (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
All you see at the tape is absolutely true
Look this
Attachment 44049

Ah, I got you. Yes, this is actually really really big transactions and multiple and at the same time at same price. Has to be an exchange between 2 Pros. Did they call each other on the phone and say "hey, I got a lot of lots to buy at this price and you got a lot to sell. Lets do it at this price, ok? Ok." I dont know.

Reply With Quote
 
  #303 (permalink)
Trading for Fun
Canada
 
Futures Experience: Advanced
Platform: Ninjatrader Metatrader
Favorite Futures: Forex futures
 
Posts: 58 since Aug 2010
Thanks: 2 given, 31 received


after you figure out that a large player is actually buying, how do you know that he's buying to go long, buying to cover, or just hedging his stock portfolio?

see its not that hard figuring out when there is a large player either buying or selling, but the challenge there is whether he is enter the market or leaving the market.

Reply With Quote
 
  #304 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 363 received


adaseb View Post
after you figure out that a large player is actually buying, how do you know that he's buying to go long, buying to cover, or just hedging his stock portfolio?

see its not that hard figuring out when there is a large player either buying or selling, but the challenge there is whether he is enter the market or leaving the market.

I must to say THIS IS VERY GOOD question. Are you have experience in tape reading?
This is extremly important are pros go in or go out. Before i answer a question i want to all of you say your opinions of how to figure out this.
Thank you for this question)))

Reply With Quote
 
  #305 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 363 received


pbylina View Post
Ah, I got you. Yes, this is actually really really big transactions and multiple and at the same time at same price. Has to be an exchange between 2 Pros. Did they call each other on the phone and say "hey, I got a lot of lots to buy at this price and you got a lot to sell. Lets do it at this price, ok? Ok." I dont know.

You right but a little bit)))
In general traders of BIG organizations doing positions for them.
I will discribe.
City bank in Italia knows EURO is weak. City bank representator calling to different brokers to do BIG order for him. Short EURO to HEDGE higher prices.
Broker recived ORDER from CB representaor and call to operator or trader of GS and says "Hey, I need a BIG short position at the 1,3650"
Trader of GS does not know WHY this broker need short, all he know is how to do this order
He begin to accumulate short position at the 1,3640-1,3645. And covering this short with pair instrument. May be DX or 6A or something another.
Then he collect necessary size of position, broker put limit of CITY BANK to ASK 1,3650. Thader of GS HIT this ASK with Market order and you see BIG BLOCK at ASK
Trader of GS collecting SHORT in euro and long in DX or any other place. All he need is to 1) do order and comission from it 2) stay in balance of the money with pare trading or some other complex strategy
So this is explain reasons of appearing such BLOCKS of prints and do not think that this is someone stupid or very smart. THis is a part of Market life. If this exist than market need it)))

Reply With Quote
The following user says Thank You to bloom for this post:
 
  #306 (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

Overview of Tape reading.

IMHO, tape reading should be split up into 3 broad categories in order to detect trading activities by the large institutions:

1. Conventional/traditional trading techniques- these refer to the tactics used by the big money since time unknown.They refer to the "trading of big blocks" in the age of Richard Wyckoff and Jesse Livermore. At that time, it was possible to know whether the institutions are accumulating or distributing just by looking at the huge blocks traded in single orders.

These methods are still active today.Bloom's thread is providing great insights to these methods.

2. Algorithms and DMA trading techniques- The process of order hiding and slicing, getting best prices and optimum execution conditions like effective Transaction cost analysis ; and trading against standard benchmarks like TWAP and VWAP. These include 3 generations of algorithms.

Fellow members, it looks like we need a separate thread for these things, in case you think that discussing them here will unnecessarily crowd up this thread.Your views please.

3. Miscellaneous trading techniques -
a.Sponsored access
b.Crossing
c.Direct liquidity access
d.Direct strategy Access.

Seniors and experienced members, is it necessary to have a good knowledge of these "Miscellaneous trading techniques" just as the first 2 groups?

Reply With Quote
The following user says Thank You to rocky9281 for this post:
 
  #307 (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 right but a little bit)))
In general traders of BIG organizations doing positions for them.
I will discribe.
City bank in Italia knows EURO is weak. City bank representator calling to different brokers to do BIG order for him. Short EURO to HEDGE higher prices.
Broker recived ORDER from CB representaor and call to operator or trader of GS and says "Hey, I need a BIG short position at the 1,3650"
Trader of GS does not know WHY this broker need short, all he know is how to do this order
He begin to accumulate short position at the 1,3640-1,3645. And covering this short with pair instrument. May be DX or 6A or something another.
Then he collect necessary size of position, broker put limit of CITY BANK to ASK 1,3650. Thader of GS HIT this ASK with Market order and you see BIG BLOCK at ASK
Trader of GS collecting SHORT in euro and long in DX or any other place. All he need is to 1) do order and comission from it 2) stay in balance of the money with pare trading or some other complex strategy
So this is explain reasons of appearing such BLOCKS of prints and do not think that this is someone stupid or very smart. THis is a part of Market life. If this exist than market need it)))

I will have to buy a book on market micro-structure. I think its important to know the basics of how this works.

Reply With Quote
 
  #308 (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
I must to say THIS IS VERY GOOD question. Are you have experience in tape reading?
This is extremly important are pros go in or go out. Before i answer a question i want to all of you say your opinions of how to figure out this.
Thank you for this question)))

Its not much important weather BIG trade is a NEW trade or a Take Profit/Cover trade. I had a post about I went short during Interest Rate News. Ok, I was on right side of trade. Went 15~ tick down then reversed. There was no taking of profits on the way down or at the very bottom. So I actually got in when they took profit.

The million dollar question is, "if you see big prints on ASK is it a large speculator or a commercial hedger."

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


rocky9281 View Post
Fellow members, it looks like we need a separate thread for these things, in case you think that discussing them here will unnecessarily crowd up this thread.Your views please.

You can discuss here I guess. Why not.

Reply With Quote
 
  #310 (permalink)
Trading for Profit
Russia
 
Futures Experience: Master
Platform: NinjaTrader, Tradestation
Favorite Futures: ES
 
Posts: 281 since Apr 2011
Thanks: 41 given, 363 received



pbylina View Post
I will have to buy a book on market micro-structure. I think its important to know the basics of how this works.

It is better find someone who work in this and he tells you.
I have many friends in Russia and few of them working in big brokers company. One of them tell me how traders working and doing orders of the cilents from all of the world.
Clients are British petrolium, British airways,Gazprom, Coca cola and others titans. So such titans are Hedge players and they are 60-70% of market. Traders of a big companys doing for them orders by taking and collect it from public and then by filling large order of a titan in a few steps. It could take a long time. In generall they filling such big orders in long as market going down in a short trend 2-8 days, and in short as market going up. Because there are very big- orders and positions.
And of course BP and BA and Pepsi and Coca buying and selling on the inside.
And till they get all position they want market would go down )))
For this large traders would hold all the resistance and push market down to low of the day, low of the week, low of the month to public filled longs that large traders need to be fill. They have time to do this untill inside that is not known by the public, becomes known by news)))
So titans would buy dropdown and sell retricements in a day charts
Take a look at the treasury notes
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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

They are shorting all the way up. Why? Default of Greece, Tech Default of USA or some other reasons we do not know

And if you want to know what doing Shark traders and you want to know it from a book )))) Hey man this is not a book you could find. All you can is too WATCH THINK LEARN)))

I will tell later 1 tactic of a shark scalper that i know from man who is from city bank group of traders.

Reply With Quote
The following 2 users say Thank You to bloom for this post:

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
 

An overview of volumetric analytical tools w/Artem Topol @ PTMC

Elite only
 

Finding Success in Futures Trading w/John Hoagland

Jun 6
 

FuturesTrader71 Extended Ask Me Anything (AMA)

Elite only
 

Diving Into Order Flow w/Alex Haywood & Jigsaw Trading

Jun 8

John @ No BS Day Trading (TBA)

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 09:39 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 2017-05-29 in 0.16 seconds with 20 queries on phoenix via your IP 54.224.200.104