Learning to Tape Read 101

Quote from cashmoney69:

also on nyse stocks..is it ok to route to arca or is it better to route to NYS ?

also my hot keys for sell stops, sell limits, and buy stops, and buy

limits orders are for some reason always executed at

market...wtf?
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i usually just go arca.
 
I dont see how tape reading is even remotely possible these days. Maybe find a buyer/seller on a real thin stock perhaps, IDK.

Just seems like a big waste of time trying to read a fragmented electronic algorithmic order.. I could be wrong though.
 
Quote from ang_99:

I dont see how tape reading is even remotely possible these days. Maybe find a buyer/seller on a real thin stock perhaps, IDK.

Just seems like a big waste of time trying to read a fragmented electronic algorithmic order.. I could be wrong though.
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Yes, the market fragmentation is the biggest problem for a tape reader, but there are listed stocks that still traded on NYSE about 80% if its daily volume. So by watching just one tape you can get a pretty good idea if there any aggressive buyer/seller in the stock.
 
To just start right away with the tape, you will loose yourself, and like most say, will take you one hell of a long time. Put up Range charts(tick chart with the minimum spread of the stock) next to it. Without any doubt this will help you tremendously.

It's up to, though:)
 
Quote from cashmoney69:

bump.

Just want to know...How critical is it to have s&p future quotes

while day trading stocks?

cm
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When there is an aggressive buyer/seller in a stock, it doesn't matter what INDU or spooz are doing - the algo is kicked in and it keeps working the order until it's done or get canceled. Look at CF yesterday - it went up 11pts on a smooth line regardless what the market was doing.
 
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