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Some highly recommended books
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Some highly recommended books

  #241 (permalink)
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After going through @Fat Tails suggestions I have settled on Algorithmic Trading and DMA: An introduction to direct access trading strategies it looks like a great read and I stand to learn a lot of concepts I never fully understood. Thank you all.

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  #242 (permalink)
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NO recommendation - Asking for "Tape Reading 101"!

Can anyone give some reviews about this book?

Tape Reading 101 by Bidhitter Holdings

Amazon.com: Tape Reading 101 (9781477421574): Bidhitter Holdings: Books

There aren't much books about this topic and this is quite expensive. Their website is quite daunting (looks like 99$ Forex Holy Grail Offer). I don't search for BM threads - i'm searching for books or articles.

Koepisch

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  #243 (permalink)
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Koepisch View Post
Can anyone give some reviews about this book?

Tape Reading 101 by Bidhitter Holdings

Amazon.com: Tape Reading 101 (9781477421574): Bidhitter Holdings: Books

There aren't much books about this topic and this is quite expensive. Their website is quite daunting (looks like 99$ Forex Holy Grail Offer). I don't search for BM threads - i'm searching for books or articles.

Koepisch

@Koepisch: This book is rubbish. It has 80 something pages with probably little information and the price is outrageous. Don't buy this book.

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  #244 (permalink)
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Koepisch View Post
Can anyone give some reviews about this book?

Tape Reading 101 by Bidhitter Holdings

Amazon.com: Tape Reading 101 (9781477421574): Bidhitter Holdings: Books

There aren't much books about this topic and this is quite expensive. Their website is quite daunting (looks like 99$ Forex Holy Grail Offer). I don't search for BM threads - i'm searching for books or articles.

Koepisch

As it is easy to critize an option here is an alternative:

Tom Williams: Master The Market (this book is available as PDF courtesy of TradeGuider, although it is a commerical booklet, it is one of the better introductions to tape reading) -> comes at $ 0.

Barry Johnson: Algorithmic Trading and DMA (it will supply you with all the background knowledge needed for tape reading)
Amazon.com: Algorithmic Trading and DMA: An introduction to direct access trading strategies (9780956399205): Barry Johnson: Books
-> comes at $ 49.99

Vadym Graifer/ Christopher Schumacher: Techniques of Tape Reading ( I do have this book, it is not very well structured, but still worth having a look at)
http://www.amazon.com/Techniques-Tape-Reading-Vadym-Graifer/dp/0071414908/ref=sr...&sr=1-1&keywords=graifer
-> comes at $ 36.69

R.D.Wyckoff: Studies in Tape Reading (this is a classic of more historical value)
http://www.amazon.com/Studies-Tape-Reading-Richard-Wyckoff/dp/1614271844/ref=sr_...&sr=8-8&keywords=wyckoff
-> comes at $ 9.50

For $ 96 you will get a collection of four books, which will get you a good overview over the subject.

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  #245 (permalink)
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Hi,

1. If I make no mistake,
(i) Tom Williams: Master The Market
(ii) Vadym Graifer/ Christopher Schumacher: Techniques of Tape Reading
are not really about tape reading in the meaning of Time & Sales reading. More about price+volume analysis.

2. With respect to Wyckoff and tape (T&S) reading, somebody informed me about the existence of the enclosed PDF ("Day Trader's Bible") which is available for free at this Web site: The Day Trader's Bible - Richard D. Wyckoff ("Save as" at the bottom of the page)
I have not really read it. I have not checked if it is really Wickoff's, etc... so caution!

Nicolas

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Last edited by Nicolas11; September 15th, 2012 at 06:40 AM.
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  #246 (permalink)
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Nicolas11 View Post
Hi,

1. If I make no mistake,
(i) Tom Williams: Master The Market
(ii) Vadym Graifer/ Christopher Schumacher: Techniques of Tape Reading
are not really about tape reading in the meaning of Time & Sales reading. More about price+volume analysis.

Correct, it is less about analyzing times and sales or bid and asked traded volume.


Nicolas11 View Post
2. With respect to Wyckoff and tape (T&S) reading, somebody informed me about the existence of the enclosed PDF ("Day Trader's Bible") which is available for free at this Web site: The Day Trader's Bible - Richard D. Wyckoff ("Save as" at the bottom of the page)
I have not really read it. I have not checked if it is really Wickoff's, etc... so caution!

Nicolas

This is a book for understanding how stocks were traded 80 years ago. It is not really about tape reading, as we would do today. These are the chapter ....

1.Introduction
2. Getting Started in Tape Reading (here is no information on tape reading, it is more about getting started)
3. Analyzing the List of Stocks
4. Trading Rules
5. Volumes and Their Significance
6. Market Technique
7. Dull Markets and Their Opportunities
8. The Use if Charts as Guides and Indicators
9. Daily Trading vs. Longer Term Trading
10. Various Examples and Suggestions
11. Obstacles to be overcome
12. Closing the Trade
13. Examples

The order book is not even mentioned. Wyckoff did not even have access to the first level of the order book, not to mention level 2. Transactions were reported via the ticker tape delayed by about half a minute. The only available information was price and volume. If you set up a 1 tick chart with volume, you get exactly what Wyckoff analyzed.

If Wyckoff was alive today he would probably call himself a price action trader. The tape in the sense of Wyckoff is just the precursor of the chart.

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  #247 (permalink)
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Exactly!
A 1-tick chart.

I am currently reading the other Wyckoff book that you mentioned (thanks for that): Studies in Tape Reading.

It is really interesting to see that the concepts he writes about are still the ones discussed today for tape/DOM reading: fake bids/offers, mark up/down, sweeping the book, absorption, leaning on an order, follow big lots rather than small ones, manipulation in the DOM (fake size at offers in order to buy lower, etc.), stop-running, intermarket relationships, etc.

Even if he does not use some of the above words, the concepts are the same.
(Of course, he does not refer to the DOM per se in his book, but he describes some tricks on the floor which relate to first level of the DOM.)

Nicolas

EDIT: "If Wyckoff was alive today he would probably call himself a price action trader. The tape in the sense of Wyckoff is just the precursor of the chart."
I am not convinced, but it is not the place for me to launch a friendly debate on this question.
Thanks again for the reference to the book. I wish I had read it before.


Last edited by Nicolas11; September 15th, 2012 at 09:16 AM.
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  #248 (permalink)
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Crapshoot Investing - Jim McTague

Book Description

Equity markets are now high-speed casinos rigged against individual investors. Now, Barron’s Washington Editor Jim McTague reveals the twin causes: high-frequency traders and blundering regulators. Learn why the Flash Crash happened (and will again)… discover titanic, uncontrolled forces driving market chaos… find rational strategies for profiting in this terrifying new environment!

From the Back Cover
“The government’s master planners have done it again! Usurping the role of ‘invisible hand,’ they have inadvertently destabilized the stock market and frightened off long-term investors. McTague sardonically chronicles how this happened and the new dangers the meddling has created for the investing public.”





I find this book a quite good entry to lift the curtain a bit about the inner workings of the current markets.


http://www.google.de/url?sa=t&rct=j&q=crapshoot%20investing&source=web&cd=10&cad...OuekjMnna09I7uAnn7bgAwjQ

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  #249 (permalink)
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BRV 'No Brainer' (Indicator Free) S+R Trading
No Brainer Trades @ Forex Factory

"Hi everyone,

I'm starting this thread for the benefit of all for trade setups with 90%+- accuracy and reliability. When I say this I'm talking about posting trades with obvious levels of heavy support and resistance where not getting in seems like the dumbest thing to do. For the Negative Nancy's out there please dont scorn me on the 90% accuracy figure. With most of these trades you could atleast scalp for 20 pips, others have paid out hundreds of pips.

If you feel you have something please post but make sure your confidence level is way above average."

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  #250 (permalink)
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A good one and simple


Trading and Exchanges: Market Microstructure for Practitioners
Larry harris.

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