NexusFi: Find Your Edge


Home Menu

 





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


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one bloom with 463 posts (571 thanks)
    2. looks_two pbylina with 193 posts (70 thanks)
    3. looks_3 Jigsaw Trading with 108 posts (183 thanks)
    4. looks_4 snusnufreak with 96 posts (48 thanks)
      Best Posters
    1. looks_one Jigsaw Trading with 1.7 thanks per post
    2. looks_two bloom with 1.2 thanks per post
    3. looks_3 snusnufreak with 0.5 thanks per post
    4. looks_4 pbylina with 0.4 thanks per post
    1. trending_up 819,743 views
    2. thumb_up 1,142 thanks given
    3. group 265 followers
    1. forum 1,378 posts
    2. attach_file 287 attachments




 
Search this Thread

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

  #591 (permalink)
rocky9281
Kolkata,India
 
Posts: 100 since Feb 2011
Thanks Given: 52
Thanks Received: 40


DionysusToast View Post
What I would say there is that you have someone that really wants to buy 154 but doesn't want to pay the considerable spread. As such, he's raising his bid hoping a seller will hit him.

Pete,
Do you also think that the 154 is actually a large hidden bid?
------------- ------------- ------------- ------------- ------------- ------------- -------------
Next,

I want to discuss about 2 more things that says "hey! there is a big buyer!!":

1. Double (or triple/quadruple/multiple etc) prints

2. Perfect Prints

But I am just a novice so I fear starting the topic.
Anybody want to say something regarding these?

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Better Renko Gaps
The Elite Circle
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Are there any eval firms that allow you to sink to your …
Traders Hideout
Build trailing stop for micro index(s)
Psychology and Money Management
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
44 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #592 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393


rocky9281 View Post
Pete,
Do you also think that the 154 is actually a large hidden bid?
------------- ------------- ------------- ------------- ------------- ------------- -------------
Next,

I want to discuss about 2 more things that says "hey! there is a big buyer!!":

1. Double (or triple/quadruple/multiple etc) prints

2. Perfect Prints

But I am just a novice so I fear starting the topic.
Anybody want to say something regarding these?

No, it's not a large hidden bid. If it was hidden, you wouldn't see it!

This is much, much simpler. This guy wants to buy. The price he wants to buy at does not interest anyone. He keeps putting his price up to try to attract sellers. This happens in thin stocks and other illiquid markets.

The kind of market you are looking at here is the last kind you want to be trading. The spread alone will kill you.

Visit my NexusFi Trade Journal Reply With Quote
  #593 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591



Wait for reaction market will do on this kind of informatin

Reply With Quote
  #594 (permalink)
 pbylina 
Chicago, IL
 
Experience: None
Platform: NinjaTrader
Trading: Euro
Posts: 212 since Nov 2010
Thanks Given: 158
Thanks Received: 72


bloom View Post
You see a big BID print and than price go down, but you think it should go up. ANd you think " Why it go down?" "What reasons?"
Guys. THere 1 billion fuc..g reasons.
The way you need to think is that
"Ok. There is a big BID print on the tape. Price going down. What reasons? There 1 bln reasons. Ahhh. Who cares? If market go down. ill go with it. SHort"
THis is the way you need to think.

Agreed.

Reply With Quote
  #595 (permalink)
 pbylina 
Chicago, IL
 
Experience: None
Platform: NinjaTrader
Trading: Euro
Posts: 212 since Nov 2010
Thanks Given: 158
Thanks Received: 72

If I bought with a limit order at 3367 and sold with a limit order at 3388 would I make 21 ticks?


Reply With Quote
  #596 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393

Sure - but your chances of doing so in that situation are virtually nil.

In the scenario you have there, you need the following to happen:

1 - you add in a limit order to buy 1.3367 and to sell at 1.3388
2 - someone needs to sell 3 contracts on market order on 1.3367 - something that is a pretty bold move because that's 21 ticks below the inside offer
3 - you don't want more than 3 contracts sold or the bud will tick down and the offer will probably follow
4 - then you want 7 or more market orders to hit the offer. That again unlikely as this price is 21 ticks above the best bid

This is an illiquid market. The people you need to take the other side of your trades to make it profitable for you would have to be a little crazy.

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #597 (permalink)
 pbylina 
Chicago, IL
 
Experience: None
Platform: NinjaTrader
Trading: Euro
Posts: 212 since Nov 2010
Thanks Given: 158
Thanks Received: 72

Ok, What If we were in a very liquid market such as the EuroDollar or ES where the BID/ASK spread are touching, if I buy the BID and SELL the ask do I make 1 tick?

Reply With Quote
Thanked by:
  #598 (permalink)
 pbylina 
Chicago, IL
 
Experience: None
Platform: NinjaTrader
Trading: Euro
Posts: 212 since Nov 2010
Thanks Given: 158
Thanks Received: 72

First trade with my new tapes. Wanted to move stop closer to entry but ended up closing the trade on accident because haven't traded on Ninja for 3 months so I forgot how everything works.


Reply With Quote
Thanked by:
  #599 (permalink)
 tre436 
london, UK
 
Experience: Beginner
Platform: NT7
Trading: TR909
Posts: 57 since Aug 2010
Thanks Given: 41
Thanks Received: 36

good trade PB, do you find splitting the bid / ask tape helping?

Reply With Quote
  #600 (permalink)
 pbylina 
Chicago, IL
 
Experience: None
Platform: NinjaTrader
Trading: Euro
Posts: 212 since Nov 2010
Thanks Given: 158
Thanks Received: 72



gktk View Post
good trade PB, do you find splitting the bid / ask tape helping?

Its too early to be really sure since I only have been using it for one day only. I will be using it all of next week and I will have a better opinion by the end of the week. But I have a good feeling that it is better then the standard tape

Reply With Quote




Last Updated on November 11, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts