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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)

  #31 (permalink)
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DionysusToast View Post
OK - let's say you see the following occuring:

High of the day.

3000 x 1 lot buy orders streaming through on the tape
3 x 1000 lot sell orders streaming through on the tape

Small retail traders buying, large institutional traders selling.

Whose side would you want to be on?

If the 3 - 1000 lot orders fail to bring price down then I would go long.

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  #32 (permalink)
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pbylina View Post
If the 3 - 1000 lot orders fail to bring price down then I would go long.

Hard to disagree with that!

Volume has to have a reaction, if it doesn't - watch out.

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  #33 (permalink)
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DionysusToast View Post
Hard to disagree with that!

Volume has to have a reaction, if it doesn't - watch out.

I'm not as fast as you guys))) I need more information
you say "Volume has to have a reaction". What do you mean?

Thanks in advance

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  #34 (permalink)
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bloom View Post
I'm not as fast as you guys))) I need more information
you say "Volume has to have a reaction". What do you mean?

Thanks in advance

Volume means the amount of something. He means if there was a big order, something should happen. Like if there was a big 3000 lot sell order, price should go down. If it didnt, there was no reaction.

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pbylina View Post
Volume means the amount of something. He means if there was a big order, something should happen. Like if there was a big 3000 lot sell order, price should go down. If it didnt, there was no reaction.

Yes. I have understood you. I look great prints showing the location of large limit orders, then in the back test prices, which had large prints, I look at the reaction)))
If I see that it continues then I will wait, if I see that the response has changed, I'll go with large limit orders.
Guys, I'm glad that started this topic with you

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  #36 (permalink)
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bloom View Post
I'm not as fast as you guys))) I need more information
you say "Volume has to have a reaction". What do you mean?

Thanks in advance

If we see a lot of sell market orders on the tape but price doesn't move down, the expectation is that it will likely move up, at least in the short term.

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bloom View Post
I am working on a ninja trader through Mirus. DATA get from zen-fire.

Some people would argue that Zen-fire is bad data. I guess its not if it works for a tape reader.

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  #38 (permalink)
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Agressive Buyers?

Bloom,
The orders highlighted in Green are "above ask". Why? Does that make them aggresive buyers? Are these market orders?

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Tape is my shape (tape reading, time and sales)-agressive-buyers.jpg  
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  #39 (permalink)
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pbylina View Post
Some people would argue that Zen-fire is bad data. I guess its not if it works for a tape reader.

I don t know bad it or not. I am just doing my job.And do not think that Zen is doing badly. I have enough of what there is. Minimalism is a kind of))))

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pbylina View Post
Bloom,
The orders highlighted in Green are "above ask". Why? Does that make them aggresive buyers? Are these market orders?

All trades executed are either at the current ask or bid price--basically, this is a data synchronization issue. By the time it is reported, either by the exchange or to your computer (I'm not sure which), the ask and bid have changed. So if I buy market and the best offer is 150, and after the trade is executed the best offer becomes 149, then the trade may be reported as "above the ask". Likewise, if I buy market and the best offer is 150 I am filled there, and then if the order book shows a best offer of 151, then my trade may be reported as "between the bid and ask." There is no particular extra level of "aggressiveness" that this would indicate.

The only way transactions take place is if a market order is placed. Limit orders must be matched with market orders. If 5 people will buy at no lower than 149, and 5 people are offering to sell at no less than 150, then no transaction happens. It takes one person to be willing to "pay up" to buy at 150, or one seller who's willing to sell for less than the offer, at 149, in order to do business. This is essentially how a market functions. Those willing to buy the offer or sell the bid are the only ones who can actually move price.

The exception here is if a buy limit is placed at or above the current best offer (say, a buyer places a limit buy at 151 when the best offer is 150), or a sell limit is placed at or below the current best bid (a seller places a limit sell at 148 when the best bid is 149). This limit order becomes a marketable limit order, which is essentially a market order in this context.

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