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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)

  #401 (permalink)
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15. Support 1, Bloom level


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  #402 (permalink)
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bloom View Post
2) 10:00:44 take a look at the big tape from this time to 9:42:52.

You mean 9:52:42.


Quoting 
As the price go away from the low of the day appears more and more Big prints. Take a look at my post #6 at the begining of thread))). This is funny for tears. Exactly the same.

Yea I kinda see it. Its not like: 10...20....30.....40. But I will keep this in mind.


Quoting 
Right now your strategy is BUY LOW OF THE DAY AND HOLD TO the close of session

The low is usually made before US session? I dont think that would work for me then

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  #403 (permalink)
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DionysusToast View Post
As you read the market and see changes over time, you are reading something different every time. No 2 scenarios are exactly the same. They are similar but not the same.

The mechanical crowd will tell you that you are therefore guessing and bound to blow up.

In fact, you have an edge over them because you are reading the markets.

I also doubted if tape reading was working because: no 2 scenarios are exactly the same. But tape reading does work and it does help make good decisions: to take trade or not and provides entry with a small risk. High probability trades.

I have and edge? Cool! I just have to sharpen it.

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  #404 (permalink)
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bloom View Post
But CHARTS shows you " HEY There is a better opportunity of the day!!!!!"
This is a dead line of difference between charts and the tape. You totally right to not take this break down as it was 50 on 50. Coin throw and catch. There was 50% you succeed.
As you watch one colored tape you see a behavior and that one is what very important.
In general idea of reading tape is to measure supply and demand and which one is stronger and go with a stronger flow. Changes in behavior of the tape shows you where to beware and where is to push harder.
Trust yourself and your observations. believe - what is simple that works better))))

Thanks. I'm good to here that you wouldnt of taken the trade to. I feel like I have learned a lot this week. The videos really helped! Im so excited I want to trade on my real account. I open an account 2~ months ago and havent made a trade yet because I dont feel im ready. But Im afraid my broker will get mad if I dont make a trade so I think I should probally at least do a trade. Scared to do the first trade...Any advice?

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  #405 (permalink)
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Futures Edge on FIO

Which products do you trade?

 

pbylina View Post
Thanks. I'm good to here that you wouldnt of taken the trade to. I feel like I have learned a lot this week. The videos really helped! Im so excited I want to trade on my real account. I open an account 2~ months ago and havent made a trade yet because I dont feel im ready. But Im afraid my broker will get mad if I dont make a trade so I think I should probally at least do a trade. Scared to do the first trade...Any advice?

I must to stop you from doing such things like HAPPY REAL trading)))
Lets see you on the simulator for a month. Adjust your new skills and learn them well. It is not time to go to real believe me. I know how you feels and i know what it ends)))
Hold your horses till the right moment, you do not need to hurry, of course if you not will die tomorrow)))
You think you learn, buuuuuut this is not right. You just one step closer
Lets do such thing. Make your trades and record video with them and upload here. Bad and good best and worse.
Lets see what you got ))))
I take your best shot))))

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The following user says Thank You to bloom for this post:
 
  #406 (permalink)
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bloom View Post
I must to stop you from doing such things like HAPPY REAL trading)))
Lets see you on the simulator for a month. Adjust your new skills and learn them well. It is not time to go to real believe me. I know how you feels and i know what it ends)))
Hold your horses till the right moment, you do not need to hurry, of course if you not will die tomorrow)))
You think you learn, buuuuuut this is not right. You just one step closer
Lets do such thing. Make your trades and record video with them and upload here. Bad and good best and worse.
Lets see what you got ))))
I take your best shot))))

Hey! I was thinking the same thing! I think criticism is a good thing. Feel free to criticize. Its gonna be like the videos I posted just with me trading. But I think i'm going to have to use a 4 tick stop. This may get ugly.

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  #407 (permalink)
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i watch for 50+ participation in my tape (filtered to 50+) while watching the footprint (6 tick reversal with no filter). i look for participation of the bigger guys on all moves as obviously i don't want to fade them unless....

there is a feeling to watch the order-flow - you have to go with it, knowing with each micro swing who is participating and what is coming in and how the market participants are reacting: absorption, small prints. did they take it up and buying cut off? did they take it up and buying increased dramatically, but no huge relative gain was made and now buying is shutting off and larger sellers are becoming more and more active?

WHAT IS IMPOSSIBLE TO ACCOUNT FOR IN DISCUSSING THE ORDER-FLOW IS CONTEXT AS WELL AS THE UNIQUENESS OF EVERY MOMENT IN THE MARKET. it can only be hinted at, but it's impossible to describe. you need a foundation of something to look at from which to start to learn how to read order-flow.

again, i use the 6 tick reversal footprint with a edslevel2 indicator on it (the DOM, visually), and a tape with a 50+ filter. i also have the 5 second up with a volume, a delta volume, and a delta volume momo indicator up (doesn't really help as i can see just as much when watching the footprint and tape).

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  #408 (permalink)
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bojangle View Post
i watch for 50+ participation in my tape (filtered to 50+) while watching the footprint (6 tick reversal with no filter). i look for participation of the bigger guys on all moves as obviously i don't want to fade them unless....

there is a feeling to watch the order-flow - you have to go with it, knowing with each micro swing who is participating and what is coming in and how the market participants are reacting: absorption, small prints. did they take it up and buying cut off? did they take it up and buying increased dramatically, but no huge relative gain was made and now buying is shutting off and larger sellers are becoming more and more active?

WHAT IS IMPOSSIBLE TO ACCOUNT FOR IN DISCUSSING THE ORDER-FLOW IS CONTEXT AS WELL AS THE UNIQUENESS OF EVERY MOMENT IN THE MARKET. it can only be hinted at, but it's impossible to describe. you need a foundation of something to look at from which to start to learn how to read order-flow.

again, i use the 6 tick reversal footprint with a edslevel2 indicator on it (the DOM, visually), and a tape with a 50+ filter. i also have the 5 second up with a volume, a delta volume, and a delta volume momo indicator up (doesn't really help as i can see just as much when watching the footprint and tape).

Just show your trades and screens. Sounds interesting

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  #409 (permalink)
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pbylina View Post
Hey! I was thinking the same thing! I think criticism is a good thing. Feel free to criticize. Its gonna be like the videos I posted just with me trading. But I think i'm going to have to use a 4 tick stop. This may get ugly.

Okey man. I think it would be interesting for all thread readers how youll make it. How about to use stop out based on situation? Lets say you will exit as you feel the situation changed.
I think this would be very interesting as all of us use tough SL, and another trading behavior and its results may be very interesting for you and forum too.
I ll help you and will do for you analyses for a day. Let say fundamental news> important prices> and you will observer of where buyers comes and where sellers and you would change your behavior and adapt your trades as the market will changed. And of course you will do such things based on your tape reading skills and theory you have learned. Also trade 2 or more cars(lots) so we can see how it works. 1 car scalp and runner as long as it possible.
Do you like my proposal?

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  #410 (permalink)
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bloom View Post
Okey man. I think it would be interesting for all thread readers how youll make it. How about to use stop out based on situation?

I dont know if Im capable of that. Ill try. I want to put my stop to breakeven as soon as possible but not to early. Can I move my stop to BE in the DOM? How?


Quoting 
Lets say you will exit as you feel the situation changed.
I think this would be very interesting as all of us use tough SL, and another trading behavior and its results may be very interesting for you and forum too.

I was thinking a good target would be the next level but try to see if there are any roadblocks along the way.


Quoting 
I ll help you and will do for you analyses for a day. Let say fundamental news> important prices> and you will observer of where buyers comes and where sellers and you would change your behavior and adapt your trades as the market will changed. And of course you will do such things based on your tape reading skills and theory you have learned. Also trade 2 or more cars(lots) so we can see how it works. 1 car scalp and runner as long as it possible.
Do you like my proposal?

Yeah, lets see what happens. If I fail at least I tried. If or when I trade for real 2 lots would = $25/tick. With a 4 tick stop thats $100 risk. I have $2500 account. So that would be a 4% risk. Is it too big of a risk or fine?

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