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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)

  #971 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591


adamov View Post
Makes sense, but I still fail to see the difference how pros react short or long.
I really want to understand this.

You confused and this is good ))) This is mean you open to everything. Keep this way


DionysusToast View Post
One of the keys to any trading methodology is understanding the state of the market.

1) State of market:
  1. Busy market (season,opening - closing, breakouts, trends, earning seasons, big news)
  2. Relaxed market (lunch time, flat, no news or before big news, hollidays).
  3. Thin or thick market.
This changing many things.

DionysusToast View Post
At some point buying will no longer be moving price up.

2) Price Action:
Bias of the market (HHHL; LHLL;Flat)
Momentum - angle and length
3) Order flow:
Market orders
Limit orders

DionysusToast View Post
buying will move price up - but there is a seller looking to absorb that buying. They just know that if they do that too early, it will discourage other buyers.

4) All of this combined together makes the understanding of reaction
You see large transaction at the low of the day 2000
Some period of time after this you see price is going up 3 points 2000-2003
Once again at 2003- you see large transaction
And price continues higher 3 points. 2006
At 2006 you see large transaction and price try to go higher but could not
Once again 2006 large transaction - price stands still
Once again 2006 large transaction - price stands still
You think "I think it will go lower now. I see heavy seller here"
But price does not goes lower. It continues to stand 2006-2005 and print large transactions. This is actuall a reaction of pros to this situation. And this is one type of reaction. They continue to hold long and buying.
But it could go lower at 2003-2004. Than this is another reaction to 2006 price and transactions at this price. They drop longs and start to selling at the ofer.
If you could to understand which of them you see you could trade them


DionysusToast View Post
They just know that if they do that too early, it will discourage other buyers.

This the key words )))) This is what market about ))) to make you think the way they want

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  #972 (permalink)
 
adamov's Avatar
 adamov 
Budapest, Hungary
 
Experience: None
Platform: ninjatrader
Trading: FGBL / FESX / ES / ZN / ZB
Posts: 84 since Jun 2012
Thanks Given: 37
Thanks Received: 49

All right guys, I think I see what is the problem here.
I was chasing the wrong thing the whole time. A method that will tell me what is going to happen next. Something that is going to predict price movement for the next minutes or couple of ticks based on the events of the past.

Whats wrong with this approach?
It doesnt matter how strong the support line is there, how many contracts traded there earlier, how many bids are pulled out, what was the employment data like, not even my horoscope. None of them will stop or move the price up or down.
These are history, nothing more.

Only the orders during the following minute will determine what the price is going to be in the end of the next minute. Market and limit orders of other traders.
What are those orders gonna be? You can never know. Even if you knew that a big player will come in who has the buying power to clear up limit orders from several price level to move the price up or down, a bigger fish could come in too and fade that move.

The best you can do is to abandon all your expectations and focus on what’s happening NOW by following other traders reaction.
Then re-eavaluate the situation, price by price, second by second, tick by tick and react if you have to.

How couldn’t I see this earlier?! It is in the very first post:

bloom View Post
Remains unchanged a universal mechanism or a chain, we need to work out. It prints and market reaction to them. Depending on the response we make a trade. Nothing else.


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  #973 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591



adamov View Post
All right guys, I think I see what is the problem here.
I was chasing the wrong thing the whole time. A method that will tell me what is going to happen next. Something that is going to predict price movement for the next minutes or couple of ticks based on the events of the past.

Whats wrong with this approach?
It doesnt matter how strong the support line is there, how many contracts traded there earlier, how many bids are pulled out, what was the employment data like, not even my horoscope. None of them will stop or move the price up or down.
These are history, nothing more.

Only the orders during the following minute will determine what the price is going to be in the end of the next minute. Market and limit orders of other traders.
What are those orders gonna be? You can never know. Even if you knew that a big player will come in who has the buying power to clear up limit orders from several price level to move the price up or down, a bigger fish could come in too and fade that move.

The best you can do is to abandon all your expectations and focus on what’s happening NOW by following other traders reaction.
Then re-eavaluate the situation, price by price, second by second, tick by tick and react if you have to.

How couldn’t I see this earlier?! It is in the very first post:

I am glad and happy about you))))
This is the way))

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  #974 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591


adamov View Post
The best you can do is to abandon all your expectations and focus on what’s happening NOW by following other traders reaction.
Then re-eavaluate the situation, price by price, second by second, tick by tick and react if you have to.

How couldn’t I see this earlier?! It is in the very first post:

Now you can answer most all questions i have askin you))))
But you need a lot of screentime ))) ALOT of screentime)))
As you encourage i recomend you to take off charts and use only a tapes and LVLII
Make a records with your comments share your expirience ))))

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  #975 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591

@adamov, post here your VID with fake High breakout on FESX

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  #976 (permalink)
 
adamov's Avatar
 adamov 
Budapest, Hungary
 
Experience: None
Platform: ninjatrader
Trading: FGBL / FESX / ES / ZN / ZB
Posts: 84 since Jun 2012
Thanks Given: 37
Thanks Received: 49


bloom View Post
@adamov, post here your VID with fake High breakout on FESX

FESX 03-15
01/12/2015
1700-1703 (GMT+1)
Fake High Breakout



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  #977 (permalink)
 
adamov's Avatar
 adamov 
Budapest, Hungary
 
Experience: None
Platform: ninjatrader
Trading: FGBL / FESX / ES / ZN / ZB
Posts: 84 since Jun 2012
Thanks Given: 37
Thanks Received: 49


bloom View Post
Now you can answer most all questions i have askin you))))

I guess we can start working together, as we are talking the same "language" now.
It's gonna be a fresh start for me but still better to start from the beginning in the right path than keep going in the wrong direction.
Now I have to re-read and interpret all your posts again and completely change the way what I think about markets and trading. It'll take some time and require a lot of efforts to get rid of the old bad habits but I'll do the necessary work.

bloom View Post
As you encourage i recomend you to take off charts and use only a tapes and LVLII
Make a records with your comments share your expirience ))))

So Shall I make the recordings without charts?
I am not going to like it.. but I'll do what it takes to develop this skill.

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  #978 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591


adamov View Post
So Shall I make the recordings without charts?
I am not going to like it.. but I'll do what it takes to develop this skill.

You even did not try it but already have opinion. Be grounded to NOW. This is the future you think about and do not know the future. May be you will like it so much that you will throw away all of the charts)))
And btw if you use charts use tick charts. 150 tick for fesx is a good one.

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  #979 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591


adamov View Post
Now I have to re-read and interpret all your posts again and completely change the way what I think about markets and trading.

Do not do this. All my post is the only thing - show the Chane remained Unchanged )))) Google rules the world ))))) Hahaha
This is so wierd ))) Like a robot bobot ))))
Practice and prcatice. Perfect practice make perfect. All you need is to focus on the main things now with right mindset.
You NEED to TRADE market now, Sim or Real does not metters. You need to place a trades based on your evaluations and manage trades. This will give more and more experience. And do your trading without chart. Than after look at the chart and places you trade. And please Share with us your results ))) screenshots ))) of your chart after no chart trading )))
Cheers )))))

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  #980 (permalink)
bloom
Russia
 
Posts: 473 since Apr 2011
Thanks Given: 47
Thanks Received: 591



adamov View Post
FESX 03-15
01/12/2015
1700-1703 (GMT+1)
Fake High Breakout



Wait a minute. I have already see this somewhere. I think @adamov you will see where actuall everything had changed to short.
Call the price at which market change it mind)))

And welcome to the Russian Hard Rock band show. Ariya loves you )))

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