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the guys at forex do it everyday... and they make a lot of money that way.

One good piece of advice from Wyckoff's day trading bible, is to save th tape to study it later. The way I see it, if you study the tape long enough you're gonna start catching patterns [like a buyer or a seller for example; or particular ways in which the specilist for that market makes...

thnx.

Can anyone recomend me a book to understand the strategies used by market makers?

in my system, I have a filter for out of sequence prints, the TAS displays an SI or condition colum. When I filter so only NYB is displayed I get orders with an E for electronic execution and orders withou comment. The ones without comment are the specialist orders. I don't know about the...

Good point Don. Instead of complaining about unfair situations at the market, one should look for ways to get a profit out of it. Because it's in the ineficiencies that we find money just liying around wating to be taken.... in a perfectly efficient market, there's no money to be taken at...

So basically what the perfect print tells you is that the seller got muscle out by the buyer at 55.62?

Not only did you learn to read the tape but you learn to think like a wise man. Kuddos on that. Today I spotted a buyer for the first time. I saw him on the TAS at TXN near noon, the market was printing bids getting hit at 33.52, when 33.52 was dry of bids the market never went down to .51...

It looks interesting, at least in theory... it should allow one to follow Market Makers at the NaSdAQ the way tape readers follow the specialist.

I posted an article about the merger on the trading forum. I dont think it approaches the issue of tape reading directly, but it should be a good guide of what we can expect from the merger.

Here's a couple of articles that I found from Bloomberg regarding the NYSE-ARCA merger. Have fun reading 'em.

disseminated display book at 99.26 is 1,600 because the floor broker interest is only disseminated when it is at the BBO. Now, the 99.27 bids get hit and the market is 99.26-28. All of the broker interest is now disseminated and the market is 99.26-28, 3,600 x 1,000. Priority — The...

In last month’s Equity Research & Strategy, we focused on the liquidity taker — how an electronic auto-execution order would interact with the NYSE Hybrid Market.SM We explained how a “multi-price-level sweep” would be awarded two prices — the best bid/offer (BBO) and a...

our network of independent floor brokers (Figure 2) and working the remaining quantity using the AUTO-EX order type. The floor order gives traders representation on the NYSE while the auto-ex order trades with the fragmented liquidity in the fast market venues. Since the auto-ex order...

Less than 10 percent of volume in exchange-traded funds (ETFs) occurs in auction market venues. In fact, in the 150 most active (by volume) NYSElisted securities (from March 27 to July 7) 20 percent or more of volume was executed via FAST electronic market venues — through the BLOOMBERG...

the depth of book) are in the sweep (Figure 1). The NYSE will seek to internalize as much of the order as possible. Although the sweep will respect the order-protection rule for the top of file, it will not send orders to better-priced liquidity that is in the depth of book of another...

The NYSE Hybrid MarketSM plan expands execution choices. Investors and traders will be able to choose from the speed and certainty of an automatic execution or the opportunity for price improvement from the auction market. Automatic trading is a dramatic change for the NYSE: Ever since...

ohh yeah, and I usually trade 5-8 stocks at the time, anything more than that and Im unable to pay proper attention to the markets.

well I do use TAS windows when trading rebates, bcause I need to know what ECN is most active... but I'll take your advice into acount when I learn to read the tape.

Good call, all it takes is one trader to ruin hours of technical analisis ;) One question, for beginners wouldn't it be easier to try and spot the buyers and selles with a TAS, to be replaced later just by the quote window once one has full understandment of the concept.?