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Anyone here use tape reading in their methodology ?
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Anyone here use tape reading in their methodology ?

  #21 (permalink)
Elite Member
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block trades


bloom View Post
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?

hi, i was wondering what are the blocks trades? and what the difference between big size (i have an alert >1000)trade
i see print a bunch of blocktrades when a break out is ocurring
and what are the size to start watching them (i trade zn)i set it to 100

thanks

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #22 (permalink)
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news dry


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

guido

Always before the news the most short term trader are pulling orders out, close it, waiting for the news (this is very important to remember if you want to avoid accidents like i have today)
Then you can see the bid/offer in the dom reducing, for example in zn usually we have 2000 and then go to 500 200
and also you can see the 10 depth very irregular , not uniform as usual
(Sometimes you realize something happen but in forexfactory theres no news , because the dry effect, today i was recording a trade, and suddenly don start drying bid offers and i did not see news at that time)

then no liquidity=high volatility

zb become in dax/gc

then you can saw it is normal

imaging enter 1000 orders how much the price move to fill that if in each price you have only 50

respecting to trying to watch it, first , you need extraordinary speed in everything to be able to do it
soft, server, internet, platform,broker, delays, latency
because with our normal internet/dom/soft/conection
we only see freeze screens, TS can show you what happens but is crazy fast

hope this help

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #23 (permalink)
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alejo View Post
guido

Always before the news the most short term trader are pulling orders out, close it, waiting for the news .....
then no liquidity=high volatility

....

hope this help

alejo

Yes thank you, it has helped because i was thinking just the opposite, ie that these big swings were due to very large volume ...
so the lesson I got here is the same coming also from DionysusToast's message earlier on on this same thread:
better stay out from major news event.
so one should then try to find out what are best hours of the day to relay on the tape,
for ex. for the ES, maybe it is within the first hour of trading,
for US bonds the same ?
what about half hour next to major news releases? when the event is done and new position adjustments/decisions have been taken again and, I guess, those who exited before the event are re-entering back again?
thanks GT.

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  #24 (permalink)
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time for bonds


guidoisot View Post
Yes thank you, it has helped because i was thinking just the opposite, ie that these big swings were due to very large volume ...
so the lesson I got here is the same coming also from DionysusToast's message earlier on on this same thread:
better stay out from major news event.
so one should then try to find out what are best hours of the day to relay on the tape,
for ex. for the ES, maybe it is within the first hour of trading,
for US bonds the same ?
what about half hour next to major news releases? when the event is done and new position adjustments/decisions have been taken again and, I guess, those who exited before the event are re-entering back again?
thanks GT.

i glad to hear to trade bonds
i trade zn because i like to have time to read and think the tape
the best time is 820 (open)to 1020 ET
specially around 820, 930
about news no trade 5 min/10min before and after that

alejo

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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