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Steve Tvardek and Maverick74

If by tape reading you mean studying the bid/ask and prints in a quote window or time and sales, then Neil's book is not going to help you. I bought that book a while back thinking it was going to help me with my trading style but it seemed like it was meant for long term position trading. He...

I currently work at a prop firm that charges commissions based on how much volume I trade as well as taking a small percentage of my profit. I know that this is pretty common. I was wondering if there were any firms that only took a percentage of your gross profits without the share based...

I believe that we only use 10% of our hearts.

I like to think of trading like the matrix and I am neo.:D

Yes, hindsight is 20/20 but how would you be able to determine early on when the market will trend in one direction?? You really can't and, if you could, you would be able to make millions with ease.

Anyone use this for trading equities??? -spxdes

Look at the Open Book. If there is a bid/offer shown on the tape at a certain price but it is not shown in the Open Book then it is the specialist. Watch to see if if he "takes in" shares. If there are a bunch of prints going off at that price and he stays and refreshes then go with him. The...

After you covered your position, you noticed the specialist offering? If so, look to get short again. Always go with the specialist. Also, all stocks have certain characteristics so you should really try to learn the ones you trade often. Try to find similar situations for this stock where there...

I am sure you can. Mess around with it and you will probably find a way. I also have other criteria I use for my searches such as daily avg. volume, stock price, beta, and sometimes sector. This is a good way to find stocks with nice smooth moves that can be used to learn to read the tape more...

Maverick, I was actually discussing the VWAP in one of my classes a few days ago. Are there any ways of getting an idea of what that price will be? What should we look for on the tape to figure this out? Also, do you ever research for stocks with a thin float or high betas, etc.? My firm tells...

I use MSN stock screener. I set it to find stocks where TodaysHighPrice >= TodaysLowPrice +1. Just use that and change it to 2 to find stocks with a $2 range. Hope that helps. -spxdes

Maverick and Don, What are your opinions on SHO stocks and tape reading them. How are they different and do you suggest attempting to trade them? Thanks. -spxdes

How do you see the bids and offers on the spoos?? I just look at the chart to see if it is moving but I have never seen a quote window for it. -spxdes

Wow, I really hope you are wrong cause that would suck for me. I haven't been trading that long and all of my efforts have been to learn the tape. I know absolutely nothing about TA. I tried using indicators a few times but just got way to frustrated. What strategies are you using trading...

Maverick, You sound like a trader at my firm. I do the same things pretty much, though I have never tested the stock by sending out market orders. I'm not at that level yet. Just curious, if you think that the hybrid system will kill tape reading, then what will you do when it arrives? Try to...

How do you 'read the tape'? I am fairly new to trading but I am pretty sure that Maverick is right. You read the tape or time and sales to get an idea of the supply and demand imbalances. That can be done by figuring out how the specialist is letting the stock print. As for tape reading becoming...

oops! sorry for the bad grammar...

Snort coke off of dead hookers while being driven around in my stretch Hummer around Manhattan!:D ....jk

Thats dead on. The market place is fueled by buying and selling. Its simple supply and demand. Thats it. What makes more people buy rather than sell at a given time or vice versa? Thats for traders to determine. Physics has no part in it....actually, I take that back....You could say that the...