Can tape reading be replaced by algos? - Traders Hideout | futures io social day trading
futures io futures trading

Can tape reading be replaced by algos?
Updated: Views / Replies:5,931 / 10
Created: by YJ78 Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

Can tape reading be replaced by algos?

  #11 (permalink)
Market Wizard
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
DionysusToast's Avatar
Posts: 2,783 since Nov 2010
Thanks: 786 given, 9,308 received
Forum Reputation: Legendary

There is a problem with "the algos".

Most retail traders trade directional, outright positions.

So in turn, most retail traders presume that "the algos" are a bunch of machines taking outright directional positions.

So they think they are in competition with "the algos" - playing the same game but on a different timeframe. That's not true.

When people talk about "the algos", they are talking about a scenario they imagine, rather than what is actually occurring.

Think about it. Firms have spent many millions in property & network infrastructure across the country so they can place microwave transmitters that can "see each other", just to be the fastest link between 2 disparate NASDAQ servers so that they can scalp a penny.

At one time, Citigroup was trading around $3 a share with volume over 300,000,000 a day and a 5-6 cent range with rebate trading.

It's mostly some form of arbitrage or market making - it's not them going after your 1 lot on Crude. In short - they aren't your enemy. They are just a damned annoyance when they pull all the liquidity and the ass drops out of the market. In my opinion, it's better trading conditions when they are around and (for me anyway), it gets a bit wild when they disappear.

If you have any questions about the products or services provided, please send me a Private Message or use the "Ask Me Anything" thread
Reply With Quote
The following 3 users say Thank You to DionysusToast for this post:


futures io > > > Can tape reading be replaced by algos?

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5

Similar Threads
Thread Thread Starter Forum Replies Last Post
Tape is my shape (tape reading, time and sales) bloom Traders Hideout 1306 Today 04:08 PM
Some questions about tape-reading CME data ptd26 Traders Hideout 24 November 14th, 2014 11:05 AM
Anyone here use tape reading in their methodology ? Xzap Traders Hideout 23 December 19th, 2013 04:03 AM
What is tape reading? Big Mike Traders Hideout 34 May 20th, 2011 07:58 AM

All times are GMT -4. The time now is 05:50 PM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-24 in 0.06 seconds with 21 queries on phoenix via your IP