[Help] Tape reading and other techniques

[navigateqd]

Quote from RiceRocket:


If you're a short term day trader, you can do this same exercise on shorter term charts. You start from the macro and drill down to specific stocks. If you watch throughout the week, you can see sector rotation and sometimes you can get ahead of the tape and be in on the next rotation.

Thanks, and I'm an intra day trader interested in short term trading

 

[navigateqd]

Quote from jack hershey:

The thick and thin on the bars means somthing visa vis volume. The panel's math isarchived in wealthlab and the Hershey script thread.

pepe did some nice panels on the DOM and non stationary window values rates of change.

None of this is used in the Cash Cow basic which is indicator and volume only based (price is not used in the code.)

Jack, your valuable insights are inspiring. I believe hundreds of people are looking forward to reading your further posts. Take your time.

 

[Ticketwatcher]

Quote from navigateqd:

any tips on reading T&S and the quote?

No, I think I process the information in time and sales, but I do not do so consciously.

I know that I would have a very difficult time adjusting to not seeing time and sales and still day trading like I do.

 

[navigateqd]

Quote from Ticketwatcher:

No, I think I process the information in time and sales, but I do not do so consciously.

I know that I would have a very difficult time adjusting to not seeing time and sales and still day trading like I do.

True, trading is the game of the right side of our brains, very intuitive.

May be you can talk about the patterns in time and sales table a little. It's quite confusing.

 

[sell_the_news]

Turn off all the charts and watch the T&S and DOM only. If you like you can also paper trade along with them. It will take time, but after a while you will see support, resistance, and other patterns. Just be careful of the games played in the DOM as they can try to trick you.

 

[navigateqd]

Quote from sell_the_news:

Turn off all the charts and watch the T&S and DOM only. If you like you can also paper trade along with them. It will take time, but after a while you will see support, resistance, and other patterns. Just be careful of the games played in the DOM as they can try to trick you.

In Maverick's posts, he mentioned the way of trading without charts. Any description sharpens several kinds of the patterns? I have tried hundreds of times to read the hidden message and the tricks, but unfortunately I failed. So, any insights will be appreciated.

 

[sell_the_news]

I personally trade gold during the U.S. pit session. When I watch the tape I look for price rejection, momentum, little guys (dumb money) and big guys (pros).

Try this link. It is a couple of free videos of live tape reading.


http://www.tradethemarkets.com/publ...e&areas=all&department_select=61&sort_by=date

 

[navigateqd]

Quote from sell_the_news:


Try this link. It is a couple of free videos of live tape reading.

http://www.tradethemarkets.com/publ...e&areas=all&department_select=61&sort_by=date

Thank you

 

[jack hershey]

Quote from sell_the_news:

I personally trade gold during the U.S. pit session. When I watch the tape I look for price rejection, momentum, little guys (dumb money) and big guys (pros).

Try this link. It is a couple of free videos of live tape reading.


http://www.tradethemarkets.com/publ...e&areas=all&department_select=61&sort_by=date

Both of these guys are real pros. They live almost a continent apart but they do work extremely well together.

 

[saliva]

Tape reading was considered important back in the ol' days only because the charts were so crappy and nearly impossible get in a timely manner. Now that they are, tape reading itself has fallen out of favor. But you know what? Tape reading is nothing other than pure price action. If you know how to properly read them prices on the chart, well, there's no need for T&S. As they say, EVERYTHING IS ALREADY PRICED IN, STUPID!