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Anyone here use tape reading in their methodology ?
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
Can you help answer these questions from other members on NexusFi?
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)
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
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