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Time & Sales parameters, newbie requesting advice.
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Time & Sales parameters, newbie requesting advice.

  #1 (permalink)
Trading for Fun
Brisbane, Australia
 
Futures Experience: None
Platform: Sierra Chart
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Posts: 52 since Mar 2018
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Time & Sales parameters, newbie requesting advice.

Hey everyone,

So I'm just wondering for those who do profitably trade via a tape what kind of parameters are you setting i.e. bundling multiple orders into one and what sizes etc or do you just leave it as is order by order, another thing that ties in with this subject is the exchange policies on how the information is displayed i.e. 1x1000 lot or 1000x1 lots etc, I know different exchanges display some things differently, I don't know much about these parameters, I am completely new to tape reading, and would do it on the short term i.e. scalping, with that said what kind of configuration should I be looking into with my time & sales window?


Thank you.


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  #3 (permalink)
 Vendor: www.jigsawtrading.com 
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Thanks for the email prompt to reply.

I think you have 2 main uses for the tape....

1 - Get a feel for the overall flow of the market. To do that an unfiltered tape - showing all trades
2 - Get an idea which side the size is on - for that, filtered is better

for 2 the key elements are
- are the large traders getting stuck for a short term bounce
- are large traders generally on your side for trade management

If you can - get rid of everything but price and Qty. The less you have to read, the easier it is.

I'd start with this and get this down before you look at much else. Large short term traders getting trapped is a great thing to be looking at.

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  #4 (permalink)
Trading for Fun
Brisbane, Australia
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: AMP/CQG
Favorite Futures: ZB
 
Posts: 52 since Mar 2018
Thanks: 48 given, 14 received

Okay excellent stuff mate, any ball park figures on what size I should filter out anyone? This is what I'm working with.. the market I've chosen is the ZQ 30 day interest rate, I will just leave this here in case any other tape readers have suggestions, otherwise I'm off to a good start cheers.

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