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:188,056 / 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)

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


DionysusToast View Post
For sure - you certainly want to reconsider that tight stop in this market...


It's like watching Ninja Replay on 500x....

Yep you are right about that.

Reply With Quote
 
  #492 (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

TWAP Algorithm

Look at the right TnS...see how frequently size of 911 appears on the bid(labelled as BLOCK trades). TWAP is getting executed. I shorted that day and price went my way.....

Attached Files
TWAP.mp4 (10.33 MB, 277 views)
Reply With Quote
 
  #493 (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
Look at the right TnS...see how frequently size of 911 appears on the bid(labelled as BLOCK trades). TWAP is getting executed. I shorted that day and price went my way.....

Yeah I see it. What market is it ES?

Reply With Quote
 
  #494 (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

No it is a stock of NSE (Indian Exchange)..


pbylina View Post
Yeah I see it. What market is it ES?


Reply With Quote
 
  #495 (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
Secondly, I hope someday,I will be able to turn this trading skill into a business in future,when I will become better in tape reading. Anybody having similar dreams? Want to work together? Bloom? Pbylina?

I have similar dream. Are we not working together already? What you have in mind?

Reply With Quote
 
  #496 (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


pbylina View Post
I have similar dream. Are we not working together already? What you have in mind?

Yes of course we are working together. But we are trading from our homes with our money..

Don't you think the time has come so that we can think of something bigger? Maybe an office of our own? We can trade all the desirable exchanges throughout the world.We can go for OPM.

Once that is done, we can proceed to the next higher level.And then higher again...

Now you are earning hundreds of dollars per day. If we proceed to do something big, we can earn tens of thousands per day...

I heard amazon.com started from a small garage. Why can't we?

Reply With Quote
 
  #497 (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
Yes of course we are working together. But we are trading from our homes with our money..

Yeah I like it. No one tells me what to do, I can eat when I want and go to bathroom when I want.)))


Quoting 
Don't you think the time has come so that we can think of something bigger? Maybe an office of our own? We can trade all the desirable exchanges throughout the world.We can go for OPM.

I have a pretty good Idea though. One person trades 1 market and the other person trades a different market that is correlated. For example, I would trade EURO and someone else would trade SWISS FRANC. They are 90~% correlated by the way... So if I get a signal for a long I tell you and if you also get a signal on FRANC for long we go long. If we do at the same time it is high probability of a BIG move and have high probabilty for SUCCESFUL trade because we have same signal. There are more correlated markets by the way...AUD and GOLD. etc....


Quoting 
Now you are earning hundreds of dollars per day. If we proceed to do something big, we can earn tens of thousands per day...

Hey man, $200 a day is average salary in US and I dont have to work 8 hours a day 5 days a week and I dont have to be a slave to some guy who is making BIG money off of my hard work. I dont even know what I would do with thousands a day... Use it for toilet paper maybe.))) And this week I havent been making anything. I lost half of what I made last week. I hope that will change next week.

Reply With Quote
 
  #498 (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


pbylina View Post
I have a pretty good Idea though. One person trades 1 market and the other person trades a different market that is correlated. For example, I would trade EURO and someone else would trade SWISS FRANC. They are 90~% correlated by the way... So if I get a signal for a long I tell you and if you also get a signal on FRANC for long we go long. If we do at the same time it is high probability of a BIG move and have high probabilty for SUCCESFUL trade because we have same signal. There are more correlated markets by the way...AUD and GOLD. etc....

Yes and for this kind of trading, we need to have connections like CQG and Reuters..who provide global data of all sorts.


pbylina View Post
Hey man, $200 a day is average salary in US and I dont have to work 8 hours a day 5 days a week and I dont have to be a slave to some guy who is making BIG money off of my hard work.

Don't you want to be better than average?


pbylina View Post
I dont even know what I would do with thousands a day... Use it for toilet paper maybe.)))

Why buy toilet paper? There are lots of other things too..If you are going to buy toilet paper of thousands of dollars, it will only mean that you have launched an organisation that caters to people suffering from diarrhoea

Reply With Quote
 
  #499 (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

Analysing Big Prints


rocky9281 View Post
I will post some topics,which are SUMMARIES of multiple posts under this thread, I tried to bring them under a single post.I request the seniors to review whatever I am posting here and please point out those assumptions which are wrong.

Please note that our country does not provide a well defined DOM. So, I have used the Time and sales prints as the only tool.

Today, I will examine the possible reasons behind big prints in the Time and sales. For this, lets see why does any institution would buy or sell huge quantities.

Analysing Big Prints

Lets try to find out several kinds of possible situations that comes with big prints. Normally, a big print necessarily means that there is a huge buyer as well as huge sellers. For example, if we see a big print at the ask, it tells us that one big guy has executed a market buy order and another big guy has supplied that buying with a huge limit sell.In this context, it can be said the former has acted more aggressively than the latter, because he used market orders.

First, lets concentrate on why he is buying. The reasons may be:

1. Entering:-He is buying to go long. In this case we can expect him to show upward aggression.

2. Exiting:-He is buying to cover his shorts. There won't be any upward aggression from his side.

3. Hedging:-He is buying to hedge his shorts. There won't not be any upward aggression from his side.

4. Absorption of selling with market buys:- He is marking up price, suddenly he finds a huge offer blocking his way. He will absorb that offer with MARKET buys if he wants to move the price further upwards.

5. Absorption of selling with bids:- He is marking up price, suddenly he faces huge market sell orders. He will absorb that selling with LIMIT buys if he wants to move the price further upwards.

The reverse holds true for selling.

When the reasons of the buyer are matched with the reasons of the seller, we can get the possible situations, and probably an idea of both the transacting parties behind the trade. Look at the attachment.

Attached Thumbnails
Tape is my shape (tape reading, time and sales)-bigprints.bmp  
Reply With Quote
The following 2 users say Thank You to rocky9281 for this post:
 
  #500 (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
Don't you want to be better than average?

Of course.)))




Quoting 
Why buy toilet paper? There are lots of other things too..If you are going to buy toilet paper of thousands of dollars, it will only mean that you have launched an organisation that caters to people suffering from diarrhoea

- LOL

Reply With Quote

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
 

Prototyping Python Strategies (part 2: Backtesting) w/Ran Aroussi [special time: 1PM ET]

Elite only
 

Portfolio Diversification w/Brendon Delate @ Diversify Portfolio

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 05:56 AM.

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 2017-05-24 in 0.14 seconds with 20 queries on phoenix via your IP 107.22.102.16