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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?"
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)))
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
Hello from Russia. Say thank you Google translator for meaning. I myself with the English at the dog. Woof woof.
In any case, glad to share experience with overseas counterparts. If you like the post, do not bother, write a response.
Your Alex.
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.
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
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 QE’s 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