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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)

  #911 (permalink)
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norcross View Post
hey,guys
have any one of you tried reading tape with no red/green? i mean just a monochrome?

If you use such method you should to concetrate on the speed of order flow.
The second thing to concetrate is a QUALITY of order filling. What do i mean than i am saying about quality of filling. A few things:
1) How much attempts it take to fill actual order or order group - does large order filled wtih one approach or it takes a many times to get filled it. Does order filled in a short period of time or is it hours goes one while it filled
2) Who actually filling the order. Is this BIG transactions taking a place or small transations.
3) You watch a mono tape and you see there trend is going. You only see transactions and prices where this transactions occures. So the picture is clear where prices are going
4) You looking for prices at which trend have changed and reverse. And not the chart - only tape

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  #912 (permalink)
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Petcrown View Post
Hi, Bloom. Thank You for starting this thread and for Your posts. A lot of usefull information that can't be found in any books. There was a question:


Could You please explaine us if we see big prints then how to tell pros enter the position or they cover their position?

Pros are:
1)Buying lows sell highs - this one thing
2)Hold levels in the begining and than moving prices toward direction they need
3)As they are come in you see the prices where are they. So than price goes against them you see large amount of big market orders occures so this is it. They are going out of trades

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  #913 (permalink)
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bloom View Post
LETS GET ROCK )))) Hi everyone - i am so f***ng glad to see you guys )))
Whos the real slim shady?)))) ok


PS. I am planning to make this thread something bigger than just TR thread. I think all of you and i together will make such good content to share us experience that this thread will be a good starting place for a newcomers)))

SO LETS GET ROCK

Bloom, I SO dig your vibe man! I read quite a few pages already and gained insight on order flow from you, DT, and others. I really want a deeper understanding of orderflow/ tape reading. I have been interested in this style since I began my journey.

I am going to go back and read again from the start as sometimes i get lost in the sauce and have to read things twice. Things that i have noticed on the DOM and wondered about have been explained to me since I began reading your thread. For instance, when the market starts to move in one direction I see the cumulative bids / ask get unbalanced in favor of the side taking the heat. At first when I saw this I was always confused as I thought that the aggressive side would be the one with the build up of resting orders. Now when i see that happen i assume that the aggressive side is pulling bids/ask to join the advance at the inside market....Am I correct in this assumption?

Also I have noticed that when i see the cumulative bid and offers start to equalize that it is sometimes a sign that the move is about to end.

Anyway, thanks for the thread and the enthusiasm! You ARE "the REAL SLIM SHADY" as you so eloquently put it!
My new mantra is borrowed from you: "LETS GET ROCK!" I love it! Keep learning us and keep us smiling.

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  #914 (permalink)
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bourgeois pig View Post
For instance, when the market starts to move in one direction I see the cumulative bids / ask get unbalanced in favor of the side taking the heat. At first when I saw this I was always confused as I thought that the aggressive side would be the one with the build up of resting orders. Now when i see that happen i assume that the aggressive side is pulling bids/ask to join the advance at the inside market....Am I correct in this assumption?

So you saying that guys want to join and begin to jump in with market orders instead of wating on the limit side? If you will show screenshots this will be very good ))))


bourgeois pig View Post
Also I have noticed that when i see the cumulative bid and offers start to equalize that it is sometimes a sign that the move is about to end.
"LETS GET ROCK!"

So what differs situations than this equalizing of bid ask orders shows you the end of the move compare to than it is not?
Once again ))) Screenshots please

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  #915 (permalink)
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bloom View Post
So you saying that guys want to join and begin to jump in with market orders instead of wating on the limit side? If you will show screenshots this will be very good ))))




So what differs situations than this equalizing of bid ask orders shows you the end of the move compare to than it is not?
Once again ))) Screenshots please

I am not sure of this....but Its the only reason that makes sense to me. Of course i could be wrong. The only only thing i know for sure is that i don't know anything for sure. I will try to find a
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In the above attachment if you'll notice the difference in the cumulative bid and the ask at the bottom of the DOM ladder. Before this short move started the Bid and the ask were equalized, relatively speaking. When the move started the cumulative offers became lesser than the bids for the whole move. When the move lost steam the the bids and offers equalized. (below)

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I have noticed this on many occasions while watching the DOM during a move to the upside and the downside.
I'm not sure of the reason. Mine is a guess. I am just trying to make sense of what i am seeing. What do you think?

Unfortunatly, I did not get the Rock in this example. i just watched the rock.

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
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  #916 (permalink)
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bourgeois pig View Post
I am not sure of this....but Its the only reason that makes sense to me. Of course i could be wrong.
Unfortunatly, I did not get the Rock in this example. i just watched the rock.

First of all))) From starting of the pattern to the end))
START
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What do you see?
1) Flat
2) Accumulation 73-72 and this is a flat boundries
Do you see some disblance right now? Now not in the pass time or in the future )))
FLAT BRAKEOUT
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1) 71 75 last price of BIG interest and further lower move goes against weak BIDS as it accumulate less trades compare to 73-71.75. This is actually DISBALANCE between LIMIT and MARKET orders. In this case you see disbalanced SELL MARKET ORDERS (SMO) to the LIMIT BUY ORDERS (LBO). Why do you see this? Why does it happened?
2) 70.25 and lower occures BIG interest. You can see how much accumulating trades at this prices. What does it mean? Why trades accumulates at this prices and not lower or higher prices? What does it mean?
FURTHER LOWER MOVEMENT
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1) Disbalance SMO to LBO
NEW FLAT
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1) 68 50 - 67 new flat boundries.
2) Accumulating
RESUME
1) At 72-50-73 came lot of buyers and sellers fade out them. Buyers locked
2) 72 00 begins brakeout. Small tape move fast. Large tape prints large SMO at 71 75. This indicates that selloff begins. Loccked PRO buyers try to get out with small losses. Actualy this make the breakout of FLAT.
3) Price moves 70.25-70.50 where sellers want to take some profit and place LBO as activity of public allows them to go out easy. Big tape prints large SMO to bid. But public hot. This indicates a small tape with good activity.
4) Price continue lower and activity of small tape very good. Quality of filling LBO very good. Price coninues lower
5) 2067.50-67.00 big prints at the offer and at the bid. Massive drops out of SHORT positions. Small tape slower
6) The end of the move
Why cumulative balanced? The game is ended. Losers place the stops, winners takes profits. Ammount of sellers= ammount of buyers - thats why equalizing than the move at the end. There is no fuel to move further

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  #917 (permalink)
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bourgeois pig View Post
I am not sure of this....but Its the only reason that makes sense to me. Of course i could be wrong. The only only thing i know for sure is that i don't know anything for sure. I will try to find a
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In the above attachment if you'll notice the difference in the cumulative bid and the ask at the bottom of the DOM ladder. Before this short move started the Bid and the ask were equalized, relatively speaking. When the move started the cumulative offers became lesser than the bids for the whole move. When the move lost steam the the bids and offers equalized. (below)

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I have noticed this on many occasions while watching the DOM during a move to the upside and the downside.
I'm not sure of the reason. Mine is a guess. I am just trying to make sense of what i am seeing. What do you think?

Unfortunatly, I did not get the Rock in this example. i just watched the rock.

Think of it this way....

Bids are below you, offers are above you. Bids are all the way below you but you can just see the first 10/20 on the DOM.

So when you move down, you are moving into an area that had bids but no offers. There are no offers below market otherwise they'd trade out.

As you move down, it just takes time for offers to "fill in" above you, so offers will be lower as the market moves down in a one way move. The more 2-sided the action is, the less this will be so.

There is also the odd phenomena that you always see large bids at areas the market perceives to be support. Don't confuse this with areas that will hold. It just seems to be that large bids will rest at areas lots of people are looking at. Like I say - you can't really trade off it but it's a good way to confirm lots of people are looking at this area.

Of course - you can reverse the above for moves up.

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  #918 (permalink)
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DionysusToast View Post
Think of it this way....

Bids are below you, offers are above you. Bids are all the way below you but you can just see the first 10/20 on the DOM.

So when you move down, you are moving into an area that had bids but no offers. There are no offers below market otherwise they'd trade out.

As you move down, it just takes time for offers to "fill in" above you, so offers will be lower as the market moves down in a one way move. The more 2-sided the action is, the less this will be so.

There is also the odd phenomena that you always see large bids at areas the market perceives to be support. Don't confuse this with areas that will hold. It just seems to be that large bids will rest at areas lots of people are looking at. Like I say - you can't really trade off it but it's a good way to confirm lots of people are looking at this area.

Of course - you can reverse the above for moves up.

Thanks for the commentary Pete. now that i think about it, this makes perfect sense. Kind of like the price action is leaving a wake in its path.....If I am understanding correctly. The limits on the side taking the heat are just sitting there, in some cases getting stacked, in some cases getting pulled for a host of reasons wether it be true intent or peacocking or drawing lines in the sand as i have heard you call it. But whats left behind in the aftermath of a move is left over limits that didn't get filled, Orders getting queued by traders looking for a optimal entry. But since there is kind of like a new building of posistions going on there it does not equal the cumulative of the side taking the heat. AM I understanding this correctly?

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
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  #919 (permalink)
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bloom View Post
First of all))) From starting of the pattern to the end))
START

What do you see?
1) Flat
2) Accumulation 73-72 and this is a flat boundries
Do you see some disblance right now? Now not in the pass time or in the future )))
FLAT BRAKEOUT

1) 71 75 last price of BIG interest and further lower move goes against weak BIDS as it accumulate less trades compare to 73-71.75. This is actually DISBALANCE between LIMIT and MARKET orders. In this case you see disbalanced SELL MARKET ORDERS (SMO) to the LIMIT BUY ORDERS (LBO). Why do you see this? Why does it happened?
2) 70.25 and lower occures BIG interest. You can see how much accumulating trades at this prices. What does it mean? Why trades accumulates at this prices and not lower or higher prices? What does it mean?
FURTHER LOWER MOVEMENT

1) Disbalance SMO to LBO
NEW FLAT

1) 68 50 - 67 new flat boundries.
2) Accumulating
RESUME
1) At 72-50-73 came lot of buyers and sellers fade out them. Buyers locked
2) 72 00 begins brakeout. Small tape move fast. Large tape prints large SMO at 71 75. This indicates that selloff begins. Loccked PRO buyers try to get out with small losses. Actualy this make the breakout of FLAT.
3) Price moves 70.25-70.50 where sellers want to take some profit and place LBO as activity of public allows them to go out easy. Big tape prints large SMO to bid. But public hot. This indicates a small tape with good activity.
4) Price continue lower and activity of small tape very good. Quality of filling LBO very good. Price coninues lower
5) 2067.50-67.00 big prints at the offer and at the bid. Massive drops out of SHORT positions. Small tape slower
6) The end of the move
Why cumulative balanced? The game is ended. Losers place the stops, winners takes profits. Ammount of sellers= ammount of buyers - thats why equalizing than the move at the end. There is no fuel to move further

Thanks Bloom. I like to hear your interpretation of what is going on. This gives me more insight. In the future I will have to set up 2 tapes. One with a large block filter...maybe 20 + and a small tape. I guess i'll have to keep an eye out for the deconstructed orders however on the small tape.

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
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  #920 (permalink)
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DionysusToast View Post

There is also the odd phenomena that you always see large bids at areas the market perceives to be support. Don't confuse this with areas that will hold. It just seems to be that large bids will rest at areas lots of people are looking at. Like I say - you can't really trade off it but it's a good way to confirm lots of people are looking at this area.

Of course - you can reverse the above for moves up.

Yes. 70-80% of time such areas where big orders rests are to be taken.

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