I am trying to get very basic and learn to tape read for better entrance in the market.
Here is what I think I know, correct if wrong:
1. Time and sales shows all ELECTRONIC orders executed at the bid or offer.
2. The order book, DOM, is showing limit orders only.
3. When price moves to a level in the DOM the limit orders AND market orders are showing in the time and sales tape.
Questions:
Would it be possible to have a custom time and sales window that would only show market orders executed...using the order book to know how many of the orders in the times and sales were limit orders?
Assume ask is 10 and bid is 9. A market buy is filled at the ask 10, and a market sell is executed at the bid of 9.
If an order is filling at 9, then its either a market sell or a limit buy. correct?
this is what I am primarily trying to figure out now.