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Tape is my shape (tape reading, time and sales)
Started:May 20th, 2011 (08:34 AM) by bloom Views / Replies:180,046 / 1,003
Last Reply:January 8th, 2017 (07:13 PM) Attachments:285

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

Old   #311 (permalink)
Trading for Profit
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pbylina View Post
Its not much important weather BIG trade is a NEW trade or a Take Profit/Cover trade. I\

Noooooo)))) It is very important)))
I give only one reason why. If this is getting in then the market will do much bigger move then it will do, if this is get out)))
You short and you realy BIG GUY))) Market at the low of the day try to break it
You are wait for your exit at the BID.
Some other BIG trader stop hit and he sell to you all you want. He get out and you too. Thats all. Market stops too.
But if you go long on the low of the day and other trader go short than probability of BIGGER move is higher, because you or other trader will need to cover losses))) and move market

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Old   #312 (permalink)
Trading for Profit
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pbylina View Post
You can discuss here I guess. Why not.

+1

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Old   #313 (permalink)
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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.

Try this

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Tape is my shape (tape reading, time and sales)-trading-exchanges.pdf  
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Old   #314 (permalink)
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bloom View Post
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.

I dont think thats possible for me. Not lot of people want to share this information.

Quoting 
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 agree. Experience is the best teacher.

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Old   #315 (permalink)
Trading for Fun
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Software needed to track VWAP/TWAP

Futures Edge on FIO
Friends, please help me to do the following:

1. Please try to find books /websites/other resources that contains algorithms and/or codes for the algorithms that can track algos like twap / vwap /pov etc. from the Ninjatrader time and sales.

2. Please help me to find out how to integrate the above algos in the ninjatrader application (T&S).

Lets take this seriously, it will be rewarding.

If you have any doubt/confusion regarding what I am doing, look into post # 201 by DionysusToast

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Old   #316 (permalink)
Market Wizard
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One of the things we need to be careful about here - looking for setups.

Or rather - looking for setups is not the only way to use the Tape.

Some of the stuff on here about big bids is very good BUT - let's not go down the path of thinking that we now need to identify a 'setup' and then look for that 'setup' and now we are reading tape.

Tape is also about changes in in trading activity over time, the pace of the tape, the actions of large vs small traders and the changes in their activity over time. It's not just about watching the DOM, waiting for a large order, seeing the market act in a specific way and then having an 'action' when you see that.

If you are going to become a Tape Reader, you have to pretty much stop thinking mechanically in my opinion.

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Old   #317 (permalink)
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DionysusToast View Post
One of the things we need to be careful about here - looking for setups.

Or rather - looking for setups is not the only way to use the Tape.

Some of the stuff on here about big bids is very good BUT - let's not go down the path of thinking that we now need to identify a 'setup' and then look for that 'setup' and now we are reading tape.

Tape is also about changes in in trading activity over time, the pace of the tape, the actions of large vs small traders and the changes in their activity over time. It's not just about watching the DOM, waiting for a large order, seeing the market act in a specific way and then having an 'action' when you see that.

If you are going to become a Tape Reader, you have to pretty much stop thinking mechanically in my opinion.

I m confused....Are you telling me these things?

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Old   #318 (permalink)
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DionysusToast View Post
...

Tape is also about changes in in trading activity over time, the pace of the tape, the actions of large vs small traders and the changes in their activity over time. It's not just about watching the DOM, waiting for a large order, seeing the market act in a specific way and then having an 'action' when you see that.
...

Sounds like a description of cumulative delta.


DionysusToast View Post
If you are going to become a Tape Reader, you have to pretty much stop thinking mechanically in my opinion.

You have seen nothing. If monpere decides to look at tape reading you better fasten your seat belt or revise your position.

(that was humour on a Saturday morning)

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Old   #319 (permalink)
Market Wizard
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rocky9281 View Post
I m confused....Are you telling me these things?

Nope - it's not aimed at anyone in particular. Just the direction of the thread generally, which appears to be steering towards 'setups' as opposed to reading the markets aka reading tape.

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Old   #320 (permalink)
Market Wizard
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trendisyourfriend View Post
Sounds like a description of cumulative delta.



You have seen nothing. If monpere decides to look at tape reading you better fasten your seat belt or revise your position.

(that was humour on a Saturday morning)

LOL! Something to look forward to.

Cumulative delta is similar but it's static. Still - it could certainly be considered a 'higher timeframe tape'. With lesser detail that higher timeframe implies. I use CD myself.

The Tape has always been a list of trades flowing past, so it's the analysis of that order flow that is tape reading. If you don't see trades flowing past, you aren't tape reading.

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