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This is my thread on ES Tape Reading. I've been getting some good suggestions and tips from others. But I'd like to ask those who are not posting specifically on the topic of tape reading to please move along - nothing to see here. I ask that the moderator delete posts in this thread that are...

Scientist: What's 7/5? And what do you think of the observations I made in the first post: anything you can add to these or anything you disagree with?

Yes that would be great. Thanks a lot Baron!

I've seen that very thing, except on an uptrend day during a pullback. Before I knew about hidden orders, I was wondering how that 200 lot could absorb so many orders. Now I know. :)

In the first place, I'm not sure if the method I posted originally is valid. Valid for me means that it can make money. Not seeing all size may make it impossible to make money with the presented information, or maybe not.

I'm just starting to put some code together on this idea. Since I have no historical bid/ask data I've been forward testing this basic idea starting today. I can already see that the ratio needs to be more like 5 to 1, and rule #3 regarding a significant absolute # of contracts may be...

Thanks, hyp: I hadn't heard of that.

I don't have any new messages in my inbox. The following shows up on the homepage: TriPack, you have 1 new message in your inbox This is the message from the forums view: TriPack, you have 0 new message(s) in your Inbox. How do I reset the message on the homepage? - Thanks

The orders are real. But as you state, the game is to get the other guy(s) to blink. Kind of a shark vs. the fish maneuver. Sometimes it appears to work, often it doesn't. When someone is playing that game, it isn't unheard of for someone else to play Gotcha by hitting the "phony" order. Kind of...

Good Point. I think in many cases a big order will be canceled because the arb can see that price in the other contract has either already gone or is going up to the next level, so rather than eat the whole thing, they cancel and move up to the next level.

What hidden orders are you talking about?

Thanks for explaining that. This helps a lot.

What type of orders are you refering to? Stops?

You mean to tell me that after the 1 minute chart has closed, then the P&F chart will use the close price to draw a point and figure chart? So it is kind of just getting one data point per minute? Is that what's going on? Interesing - a 1 minute filter is being applied if my interpretation is...

After reading some of the ideas on the other thread with regards to tape reading, I thought I'd put down a few observations and some of my own ideas. I hope I can get some good feedback from others who make different observations when viewing bid/ask and size. This isn't intended to be a system...

I don't understand how point and figure can be based off a 1 minute chart? I thought one of the results of P&F charting was to remove the time scale. Please explain.

When do they start trading S&P contracts?

Exactly - that's why Chicago is so afraid.

The site was down earlier, looks like it's up now. The article on the website is just the first part of the article. Basically he says, look at your bar chart for the timeframe you wish to trade in. Plot a point and figure chart, tweaking the values until your desired patterns show up. He was...

The thing that bugged me was that Figure 3 (from the article) was supposed to be .33 box size with a 3 box reversal. Then for the results he used .33 box size with a 1 box reversal. However, if you compare his trades to Figure3, they seem to be an exact match. Thus I say his fills are...