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In our method of reading it's irrelevant who exactly represents smart money and dumb money. The same player or group of players for many different (and irrelevant) reasons could act on the right or wrong side. What really matters is: smart money (whoever represents them) leave certain footprints...

Let me try and answer while Chris is trying to have personal life :) Confusion will go away if we define tape reading as one of the methods of reading the market movement. Let's separate the method of reading from media which we use for reading. Media could be the tape itself or the chart...

Eeck! You owe me cup of coffee, I dropped mine reading that! :) Vad

Hi, glad to see you. How's market treating you these days? Vad

Never thought I would join this. But since you quoted this... look your PM please. Vad

There is nothing really to teach about level 2. It's just a window that shows all the bids and offers posted by market participants. They can be true or false. They can sit there until get hit or they can be posted only to make certain impression and cancelled as soon as real threat to get hit...

Honestly, no idea how distribution is handled... but in any case it will be posted on our website. It's about tape reading in its original sense - system designed in times of Jesse Livermore and adapted to today's market (I consider it necessary to say about it to distinguish from the idea of...

I am. Title is in discussion yet, working version is Tape Reading Techniques: A Trader's Jorney to Reality. Not sure on the time line yet, optimists say till the end of this year, realists count on Q1 of 2003 :) Vad

I was in your shoes. In some regards it was better: I had 11 thousands left in my trading account and money for like 6 months of living. In some regards it was worse. You are 24, you can get a job. I was 37, with wife and two kids, in the foreign country, without right to work (my immigration...

Zen in the Markets, by Edward Toppel. Easy read, points are good and well put. If you read Trading in the Zone by Douglas, this one won't tell you anything really new. Nonetheless, good one. Vad

In my opinion, judging from the table of content, this book is closer to the original meaning of tape reading than what most mean when use this term. Simple staring at T&S/Level 2, trying to gauge the strength at this very moment leads to pure scalping for cents, while tape reading in its true...

Actually price of the stock is not really an issue for me... it mattered for a while while big players just didn't mess around with cheapies, and more expensive stocks were easier to read (well, even then cheapies were valid players, too, just required specific skills). Now when entire universe...

As for spreads, I again read lately numerous complaints about them widening lately. I realize that we have quite thin market but still, I see better spreads on NASDAQ on average. As for the rest... well, it's a matter of who got used to what I guess :) I for one like the situation of market...

I haven't traded NYSE for ages. Reading all the "Listeds only, never NASDAQ" posts was wondering for a while if I really miss something. With these posts stating that this is normal order of things for NYSE I am pretty sure I am trading right market for me. This is impossible situation for...

Good question started the thread, and great answers are given. I would side with Magna and Traden4Alpha, with one addition. There is one more factor you need to add: readability within your system. Action can become such that your system won't be able to read it anymore, not for futher holding...

Come on Bo, you gotta answer in the best corporate traditions: "Company would not comment on the rumor" or "Company spokeperson could not be reached" <GGG>. And please don't tell anyone that previous buyout negotiations failed because of my horrible accent. We made them offer they couldn't...

Let me offer general take on TA that works for me. Following is the quote from the book. There is a question you can read in many different forums quite often that asks “Does Technical Analysis (TA) work?” It all depends on what you expect TA to do for you. If you want TA to tell...

Well, IMO, art side takes its place in any activity where one applies his personality, his individual perception and vision, as opposite to strictly determined procedure/algorithm. In trading, there is clear presence of impact of personality. The same setup can be played by different traders...

True. Statistics count into "science" part, although don't exhaust it, IMO. And luck plays certain role, too, especially for undercapitalized trader, in order not to run into losing cluster that kills his capital before the law of big numbers takes over. All you listed has its place, I am...

Sure if you have no edge, no experience resulting in intuition...