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Tape is my shape (tape reading, time and sales)
Started:May 20th, 2011 (08:34 AM) by bloom Views / Replies:180,046 / 1,003
Last Reply:January 8th, 2017 (07:13 PM) Attachments:285

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

Old   #931 (permalink)
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DionysusToast View Post
I agree - especially when it's overwhelming like the above pic. 400 on one side and 450 on the other is meaningless.

Just be aware it doesn't guarantee continuation though. I was talking to one guy on Skype yesterday (not sure if he;s a member) - he trades crude and a the bids looked like this.... -

20 68.03
43 68.02
35 68.01
200 68.00
24 67.99
43 67.98
20 67.97

We were talking about going long with market orders and I said that at that time, you'd probably want to put a long limit order at 67.99 - just the other side of that bid. This is WITH a bias that's already long. Sure enough - went down to 67.99, traded there enough you'd have got a fill (I think it ticked to 67.98) and then up again.

So look at overall imbalance on the book but also for a cluster of bids/offers causing that imbalance.

DT i would also add that its of utmost importance not only to look at the imbalance, but also on the way market behaves - e.g. if big limits as per your example appear in the DOM and market orders start to eat those limits quickly, this really shows the buying initiative and is an indication that one needs to go long at this very spot. Moreover, those market orders don't have to be big block trades, the best moves actually happen when these market orders consist of big chunks of small lots.

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Old   #932 (permalink)
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Marker Order flow (Active flow) with large volume moves prices. And large volume can be made in several ways:
1) Large amount of small market orders.
2) Sufficient ammount of large market orders
3) Mixed large and small
And exist also limit order flow (Passive flow) as limit orders are come in and come out too. And this type of order flow STOPING market. And a few ways to actually stoping or fade market from movement. Guess which ways are)))

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Old   #933 (permalink)
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Hey Bloom, We were talking about cumulative bid and ask previously. THought I would share this imbalance with you. Seems like some pretty large resting offers for this time of day. I don't recall ever seeing resting orders of this size during the overnight. @ 2079 there are 3444.
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Old   #934 (permalink)
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10.12.2014 Levels
2075
2068
2062
2054
2045
2035

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Old   #935 (permalink)
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Futures Edge on FIO
Hi @bloom,
Good to see that you are back! Its a pity I didnít see your post earlier, I thought I was subscirbed this thread but wasnt just a lucky accident drove me here.
Anyway, I am here now and ready to learn this purest form of trading: reading the tape and the market depth.
Iíd like to see and read the market like you do and I am willing to do the necessary work to achieve this.

According to your instructions I've created my workspace:
- monochrome tapes, one for a big and one for a small prints
- DOM
- a very limited chart

I am planning to make recordings from this for looking back analyzing and discussing them.
As you can see there are multiple instruments on it. In the beginning I am going to focus only one (the one you trade as well, so it is going to be easier to discuss it) of course, later as my skills are developing I might pay attention the other products too. Btw there is high correlation between ES and FESX so I guess there must be similarities in tape too.

Brace yourself, TRC-s are coming!

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Old   #936 (permalink)
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adamov View Post
Hi @bloom,

- monochrome tapes, one for a big and one for a small prints
- DOM
- a very limited chart
I am planning to make recordings from this for looking back analyzing and discussing them.

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Thank you my friend ))) I hope this will give a good breath to this thread and example of teamwork)))

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Old   #937 (permalink)
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FESX first
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1. You see big transactions in a short period of time. Someone sells at the ofer someone buys with large market orders ro someone sells to the large bid. No metter. In which place occures this transactions or in which situation? Is this a top of the day? Or is this main resistance?
2. Begins consolidation 3078-3081
3. Trying to break 3081 top of consolidation.
In this moment what do you see:
1) Do large orders try hard to push higher from consolidation? Do you see large orders in a tight spread in a short period of time?
2) Small tape moving fast or slow or with unstable (faster slower) behaviour?
3) What DOM says you in this situation? Weak ofer - strong bid. What does they try to convince you to do as they know you watchig a DOM?


Last edited by bloom; January 9th, 2015 at 08:17 AM.
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Old   #938 (permalink)
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adamov View Post
Hi @bloom,
Brace yourself, TRC-s are coming!

Do you have FESX tape records in 15:34-15:37 than break out of consolidation occures?

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Old   #939 (permalink)
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bloom View Post
Do you have FESX tape records in 15:34-15:37 than break out of consolidation occures?

You mean the breakout just happend about half an hour ago from 3084? /different time zone its 1313 here now/
In theory yes, I've been recording it for an hour.

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Old   #940 (permalink)
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adamov View Post
You mean the breakout just happend about half an hour ago from 3084? /different time zone its 1313 here now/
In theory yes, I've been recording it for an hour.

15:34 your time. Is this 08 01 2015 records?


Last edited by bloom; January 9th, 2015 at 08:22 AM.
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