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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)

  #761 (permalink)
 
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snusnufreak View Post
Argh, they are so easy after the fact =)
.


lol!

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  #762 (permalink)
bloom
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Sell off.

Filling a bid holding ask. Buyers locked at the top. Take a long dangerous here

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  #763 (permalink)
 snusnufreak 
Moscow Russia
 
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bloom View Post
Was a time i right trading plans))) And were biased every moment. Now i am just turning on my trade platform and start to watch a tape till i see something. Then i do trade. So easy. Head is clear )))
But i must say. I am just a retail trader at all and i need hard work to do this year

I agree this is the ultimate way to go, but I still do use charts for considering the levels to enter from. They give me a bigger picture in terms of what to expect, what direction to favor and what levels to watch for.

Hopefuly, soon I'll be just like you and use solely DOM/tape to nail those trades!

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  #764 (permalink)
bloom
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snusnufreak View Post
Here's the first possibility.

Argh, they are so easy after the fact =)

Price poked through the low, made a little retracement and gave an opportunity to go short.
Both cumulative delta and PA favored short side.

Video:



00:13 - 00:33 - big battle on inside bid offer at 1455.00/1455.25. 3500 contracts trade against 1455.25
00:33 - 00:43 - notice how there is no buying against 1455.50 lvl

Right at 00:44 someone slams ~500 contracts on the market against 55.25 bid, puts 500 at offer there, pulls away 500 from 55.00 bid and firms up offer at 55.50 by adding ~500 more there. I've made a pic with three consecutive frames from the vid, so you can see it better.

This is a spot to go short! Turned out to be nice 6-8 tick trade.

trading is very difficult and tape is a most difficult way of analyses))) BUUUT it worth it. 53 75 short ))) still holding this

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  #765 (permalink)
bloom
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bloom View Post
Attachment 98818
Sell off.
Attachment 98819
Filling a bid holding ask. Buyers locked at the top. Take a long dangerous here

Buyers become stronger. Short cover

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  #766 (permalink)
 snusnufreak 
Moscow Russia
 
Experience: Intermediate
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Second entry to the short side, almost identical setup to the first one.

DT, looks like i found at least one I'm gonna be looking for from now on.

Again, price and delta swings confirm the downmove (see attached pic.)

Video:



00:13 - 00:40 - look how bids are being added at 53.75 - 54.25 lvls to make the market look strong.
00:45 - 00:55 - price breaks through 54.50 offer, only 165 trade agains 54.75
right at 00:55 someone hits 54.50 bid (he probably had bids there which he pulled off as the number of trades is less than the number of limits on the bid there), firms up 54.75 offer and pulls 400 from 54.25 bid. He also adds 200 to 54.50 offer
00:55 - 1:00 more pulling from 54.25 and more adding to inside offer @ 54.50

This is a place to go short!

1:00 - 1:15 situation repeats but 1 tick lower.

1:20 - 1:30 2 tick pullback and the same type action again:

bids firm up, offers being pulled - buyers come in
someone pulls away orders from inside bid, slams market against inside bid, firms up offers and pulls away bids at lower lvls.

Then price goes down.

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  #767 (permalink)
bloom
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snusnufreak View Post
Second entry to the short side, almost identical setup to the first one.

DT, looks like i found at least one I'm gonna be looking for from now on.

Again, price and delta swings confirm the downmove (see attached pic.)

Video:



00:13 - 00:40 - look how bids are being added at 53.75 - 54.25 lvls to make the market look strong.
00:45 - 00:55 - price breaks through 54.50 offer, only 165 trade agains 54.75
right at 00:55 someone hits 54.50 bid (he probably had bids there which he pulled off as the number of trades is less than the number of limits on the bid there), firms up 54.75 offer and pulls 400 from 54.25 bid. He also adds 200 to 54.50 offer
00:55 - 1:00 more pulling from 54.25 and more adding to inside offer @ 54.50

This is a place to go short!

1:00 - 1:15 situation repeats but 1 tick lower.

1:20 - 1:30 2 tick pullback and the same type action again:

bids firm up, offers being pulled - buyers come in
someone pulls away orders from inside bid, slams market against inside bid, firms up offers and pulls away bids at lower lvls.

Then price goes down.

Set up time in your T&S it would be more easy to explain.
From 25 second of the video you see a lot of printing at the offer 54 50. Almost all tape green. 41 second of the video tape accelerates and price doing 1 tick. But 55 second tape slows and you see a large amount of printing at the BID. And Bid 54 50 is quickly filled. This means there is no large buyer. Compare how much time it takes to filled 54 50 offer. From 55 sec to 1.35 you see moderate speed with offer bid printing. You can see a large amount of printing at the offer 54 50 without moving higher. This means offer is holding. 1 min 35 sec tape accelerate and begins printing a large amount of prints at bid 54 00. This is the place to go short with stop 54 75 or 55 00.
I am not expert of small tape))) I did not watch it all the time. If you read a thread from begin you know why)))
Please notice
I DO NOT WATCH A DOM in this situation. Only a tape

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  #768 (permalink)
 snusnufreak 
Moscow Russia
 
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Trading: futures
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bloom View Post
Set up time in your T&S it would be more easy to explain.
From 25 second of the video you see a lot of printing at the offer 54 50. Almost all tape green. 41 second of the video tape accelerates and price doing 1 tick. But 55 second tape slows and you see a large amount of printing at the BID. And Bid 54 50 is quickly filled. This means there is no large buyer. Compare how much time it takes to filled 54 50 offer. From 55 sec to 1.35 you see moderate speed with offer bid printing. You can see a large amount of printing at the offer 54 50 without moving higher. This means offer is holding. 1 min 35 sec tape accelerate and begins printing a large amount of prints at bid 54 00. This is the place to go short with stop 54 75 or 55 00.
I am not expert of small tape))) I did not watch it all the time. If you read a thread from begin you know why)))
Please notice
I DO NOT WATCH A DOM in this situation. Only a tape

Bloom, what filter would you recomend to use? My left tape is raw, right one has filter of 50. Honestly, right now i do pay more attention to the DOM rather than to the tape. But as I get further I believe tape/DOM is a powerful combination to make precise entries.

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  #769 (permalink)
 
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snusnufreak View Post
Second entry to the short side, almost identical setup to the first one.

DT, looks like i found at least one I'm gonna be looking for from now on.

Again, price and delta swings confirm the downmove (see attached pic.)

Video:



00:13 - 00:40 - look how bids are being added at 53.75 - 54.25 lvls to make the market look strong.
00:45 - 00:55 - price breaks through 54.50 offer, only 165 trade agains 54.75
right at 00:55 someone hits 54.50 bid (he probably had bids there which he pulled off as the number of trades is less than the number of limits on the bid there), firms up 54.75 offer and pulls 400 from 54.25 bid. He also adds 200 to 54.50 offer
00:55 - 1:00 more pulling from 54.25 and more adding to inside offer @ 54.50

This is a place to go short!

1:00 - 1:15 situation repeats but 1 tick lower.

1:20 - 1:30 2 tick pullback and the same type action again:

bids firm up, offers being pulled - buyers come in
someone pulls away orders from inside bid, slams market against inside bid, firms up offers and pulls away bids at lower lvls.

Then price goes down.

Looks good.

For me, I set bias by a delta on a 700-900 tick chart but if it's working for you on a 55 tick chart, that's good.

In terms of a BIG delta shift that would have me looking to change my bias, I'd be interested in delta moving up at least 10k to change from short to long bias.

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  #770 (permalink)
 snusnufreak 
Moscow Russia
 
Experience: Intermediate
Platform: NinjaTrader
Trading: futures
Posts: 127 since Apr 2012
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Thanks Received: 53


Here are my trades for today. Demo for now.
Some interesting action. One thing I figured exits are just as important as entries. I'm having a hard time sitting on my hands, letting the trade go.

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