I just proved to you that reading the tape in stocks makes zero sense.
You said just now "If the tape is slow, then there is not much interest in these prices so expect something to change or do something better with your time."
-> So, you are saying you actually know nothing: When the tape is slow either (=50%) something will change (you are not even saying up or down, how could you anyway), or ignore that market (=50%). Wow, to come to such conclusion I certainly do not need to watch the "tape". Why I am claiming this assertion alone is already completely wrong is that the same second you concluded the above, a huge trade may be crossed in a dark pool, and seconds or minutes later the position may be hedged or not, you simply don't know. Or there may be no trade that is currently being crossed in any of the dark pools. The point here is, you simply do not have the full picture and in fact you have a completely lacking picture by looking at trades in real-time.
Why do I get the impression you sound like a middle-man by touting "tape reading" and in the same sentence refer me to "Jigsaw" (whatever that is, a person, software, approach,...). I told you already clearly that for an educated, informed, and intelligent person it makes zero sense to attach the slightest value to tape reading of stock transactions in 2016. And I gave you very specific examples WHY. (see previous post of mine). You in turn have not refuted the points I made with a single piece of fact or detailed information. But instead link to someone or something that apparently proves tape reading works. Let me tell you something : I can pick and choose a piece of price action that was deliberately chosen to make ANY point I want. I can prove momentum trading works, mean reversion works, martingaling, reading sun or moon phases, wavelets, fib levels, or anything else under the sun works. The problem with all the above is that over time when you have a large enough sample size none of the above work. That is the number 1 trick that all those snake oil salesmen use to bait and hook unassuming newbies and I outright hate such attitude and shilling. It is deceiving beginners with the full knowledge that it does not work. (If you knew of one approach that worked, would you EVER share it with anyone? Ask yourself that one single question).
And again I am wondering, what is it with this season of the year that every single day another vendor or self-proclaimed god trader pops up on this site to convince the rest of the world that they have found the holy grail. There is no friggin holy grail in this business. Being desperate is justifyabe, but there is simply no excuse for being stupid.
You said just now "If the tape is slow, then there is not much interest in these prices so expect something to change or do something better with your time."
-> So, you are saying you actually know nothing: When the tape is slow either (=50%) something will change (you are not even saying up or down, how could you anyway), or ignore that market (=50%). Wow, to come to such conclusion I certainly do not need to watch the "tape". Why I am claiming this assertion alone is already completely wrong is that the same second you concluded the above, a huge trade may be crossed in a dark pool, and seconds or minutes later the position may be hedged or not, you simply don't know. Or there may be no trade that is currently being crossed in any of the dark pools. The point here is, you simply do not have the full picture and in fact you have a completely lacking picture by looking at trades in real-time.
Why do I get the impression you sound like a middle-man by touting "tape reading" and in the same sentence refer me to "Jigsaw" (whatever that is, a person, software, approach,...). I told you already clearly that for an educated, informed, and intelligent person it makes zero sense to attach the slightest value to tape reading of stock transactions in 2016. And I gave you very specific examples WHY. (see previous post of mine). You in turn have not refuted the points I made with a single piece of fact or detailed information. But instead link to someone or something that apparently proves tape reading works. Let me tell you something : I can pick and choose a piece of price action that was deliberately chosen to make ANY point I want. I can prove momentum trading works, mean reversion works, martingaling, reading sun or moon phases, wavelets, fib levels, or anything else under the sun works. The problem with all the above is that over time when you have a large enough sample size none of the above work. That is the number 1 trick that all those snake oil salesmen use to bait and hook unassuming newbies and I outright hate such attitude and shilling. It is deceiving beginners with the full knowledge that it does not work. (If you knew of one approach that worked, would you EVER share it with anyone? Ask yourself that one single question).
And again I am wondering, what is it with this season of the year that every single day another vendor or self-proclaimed god trader pops up on this site to convince the rest of the world that they have found the holy grail. There is no friggin holy grail in this business. Being desperate is justifyabe, but there is simply no excuse for being stupid.