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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)

  #591 (permalink)
Trading for Fun
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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?

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  #592 (permalink)
Market Wizard
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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.

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  #593 (permalink)
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Wait for reaction market will do on this kind of informatin

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  #594 (permalink)
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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.

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  #595 (permalink)
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Futures Edge on FIO
If I bought with a limit order at 3367 and sold with a limit order at 3388 would I make 21 ticks?

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  #596 (permalink)
Market Wizard
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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.

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  #597 (permalink)
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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?

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  #598 (permalink)
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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.


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  #599 (permalink)
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good trade PB, do you find splitting the bid / ask tape helping?

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  #600 (permalink)
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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

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