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Anyone here use tape reading in their methodology ?


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Updated December 19th 2013 by alejo
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Anyone here use tape reading in their methodology ?

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  #11 (permalink)
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all traders i know are using tape reading is some way or other way. it dont always meaning squinting at the time and saled / orderbook tho!

like just looking at a graph and thinking

"where are longs going to feel pain?"
"where are shorts going to feel pain?"
"where are there stop orders waiting?"
"where are there limit orders waiting?"
"is the market too long? or too short?"

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  #12 (permalink)
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cpi65 View Post
all traders i know are using tape reading is some way or other way. it dont always meaning squinting at the time and saled / orderbook tho!

like just looking at a graph and thinking

"where are longs going to feel pain?"
"where are shorts going to feel pain?"
"where are there stop orders waiting?"
"where are there limit orders waiting?"
"is the market too long? or too short?"

I look like that. I look prints on the BID and ASK. Well that they were blocks. If no blocks, then look how long kept the price. Usually, when typed pose, pose slab or brick. If I have seen large blocks of BID, in large quantities, without the movement of prices, and then put the brick on the BID, I know what the pros have Long and want to move the price higher.
If there are more prints of ASK large blocks, then everything is OK.
In general, think about what makes the pros. It is easiest to tops of the day or on the low of the day, ironically. But the market is the paradox)))
This is just one of the situations. Tape reading is not simply the observation of prints. It's like trying to understand who does what. This requires a lot of experience. I have experience. I started out as a scalper on the Russian market and seen so much in 12 hours trading per day, which did not dream any position trader)))

And you're trading stocks or futures?

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  #13 (permalink)
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how do you read it?



DionysusToast View Post
Same here...

I use tape to refine all entries. It's just a skill, that's all. It takes a while to develop. I've never seen discrepancies in it but you can see momentum shifts, large players piling in, capitulative/exhaustive trading at the end of a move.

Still - I can see why people would think it useless, especially if the presumption is that you are supposed to get meaning from each trade.

GM, good trading. How do you read it ?TS window from NT? Have used that but finds it really annoying (no disrespection with anyone) Have a separater indicator / tool? Regards

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  #14 (permalink)
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You should look at this more in-depth thread on tape reading:



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  #15 (permalink)
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rainbowchaser View Post
GM, good trading. How do you read it ?TS window from NT? Have used that but finds it really annoying (no disrespection with anyone) Have a separater indicator / tool? Regards

I don't use indicators at all - it's not tape reading if you do that.

Go to the other thread that Mike recommended - no point in repeating it all here!

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  #16 (permalink)
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gcabrera View Post
Hi:

If you are interested in learning about tape reading futures contracts, I recommend you go to the priceactionroom website of Joel Parker.

He does not only teach you to read the tape, but he has available a tape indicator that bundles the big trades again so you can see clearly who is in control.

Very honest guy, you wont regret it.

Good trading.

is there anyway to learn tape reading for futures and avoiding to spend another 3k, or 5k or 10K that one's do not have anyway?
thx and happy trading.

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  #17 (permalink)
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rainbowchaser View Post
is there anyway to learn tape reading for futures and avoiding to spend another 3k, or 5k or 10K that one's do not have anyway?
thx and happy trading.

Here are some videos and a thread that give an introduction: Tape Reading, Watching for Price Rejection - Traders Laboratory Forums There are also some videos on youtube of various people talking about their different methods which can give you some different perspectives. The main ingredient to learning tape reading is lots and lots of screen time.

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  #18 (permalink)
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i use tape reading

i use jigsaw, i watch the dom for zn zb and zf, i trade only zn, i am learning to read the order flow, also i watch the charts, MP, levels, etc
When the action speed up, it is very diffficult to realize exactly what happens, but overall one get an impression of momentum
I use absortion to my entries and also when disappair the fakes orders at bid or ask, i can enter
I have a lot of doubts about the tool,and also it terrible the difference between the data from differents providers
I would like to have a data that i can consider exactly

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  #19 (permalink)
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tape reading and large swings at big news releases

As I am trying to learn about how tape reading can, possibly, help in optimizing entry/exit levels, I would like to ask if anyone could kindly take as an example what happened to ZB 03-14 this afternoon few minutes next to the release of FED decisions on QEs assets purchases and on long term interest rates. As indicated by the arrows in the attached chart, in just half an hour, there have been 5 reversals. I am wondering whether through tape reading one could actually identify (quickly enough, or even anticipate) these reversals. Thanks. guidoisot

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  #20 (permalink)
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guidoisot View Post
As I am trying to learn about how tape reading can, possibly, help in optimizing entry/exit levels, I would like to ask if anyone could kindly take as an example what happened to ZB 03-14 this afternoon few minutes next to the release of FED decisions on QEs assets purchases and on long term interest rates. As indicated by the arrows in the attached chart, in just half an hour, there have been 5 reversals. I am wondering whether through tape reading one could actually identify (quickly enough, or even anticipate) these reversals. Thanks. guidoisot

My opinion on these areas is that it's really tough to trade this sort of post-FOMC 'madness' from the tape.

Best thing to do would be to record it and study it afterwards, I've not done that as I tend to stand aside at these times.

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December 19, 2013


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