Question about tape reading

B

Bluegar3

If you are trading a NYSE listed stock and you see for example 100 shares @ 50.75, say from a basic data provider, like IB or IQFeed. Is this print a combination of all the exchanges? ACRA, ISLAND, etc so you really don't know which exchange it occured on? or is this a print that occured on the NYSE?

For Tape Readers?
If it is not a cumulation of all the markets, Do you use a seperate data feed for each market? So hence you'll be reading 8 tapes? or do you just concentrade on the NYSE tape?

Thanks
 
Your level 2 should tell you which exchange it was printed. I only watch the nyse TS but in many instances I pay attention to the ecn prints/size/volume because there could be a buyer or a seller using that ecn to drive prices. If you know the stock well enough you can also tell which ecns show fake size and which ecns are showing legit size.
 
Quote from Bluegar3:

If you are trading a NYSE listed stock and you see for example 100 shares @ 50.75, say from a basic data provider, like IB or IQFeed. Is this print a combination of all the exchanges? ACRA, ISLAND, etc so you really don't know which exchange it occured on? or is this a print that occured on the NYSE?

For Tape Readers?
If it is not a cumulation of all the markets, Do you use a seperate data feed for each market? So hence you'll be reading 8 tapes? or do you just concentrade on the NYSE tape?

Thanks
More...

1. Most likely you will see trades from all market centers your broker has marked feed from. With professional feed, you can subscribe for specific ECN/exchange feed, or get consolidated feed and look at the field "trade exchange" to determine the source of the print.

2. I read NYSE tape only since NYSE still the best place to trade listed stocks.
 
Quote from brazilianwonder:

Your level 2 should tell you which exchange it was printed. I only watch the nyse TS but in many instances I pay attention to the ecn prints/size/volume because there could be a buyer or a seller using that ecn to drive prices. If you know the stock well enough you can also tell which ecns show fake size and which ecns are showing legit size.
More...

FYI, Level II is quotes only feed. Trades reported on primary/regional exchanges only.
 
I only trade Nasdaq stocks and trade 99% off of the level II and watching prints.

By watching the level II and the prints you can pick out size buyers/sellers. I've only ever traded on one platform, but I know what ECNs print on what exchange. If I see BATS, NSDQ, ARCA, and GSCO at a price level and trades going off at PSE I know it's ARCA that's printing.

Figure out what exchange ECNs print at and how you platform allows you to see it.

Then, stare at the level II/prints for a months and months all day and you'll begin to see what's going on. :D
 
Is fake size anything like fake boobs?

fake_boobs_foam.jpg
 
Quote from trom:

I only trade Nasdaq stocks and trade 99% off of the level II and watching prints.

By watching the level II and the prints you can pick out size buyers/sellers. I've only ever traded on one platform, but I know what ECNs print on what exchange. If I see BATS, NSDQ, ARCA, and GSCO at a price level and trades going off at PSE I know it's ARCA that's printing.

Figure out what exchange ECNs print at and how you platform allows you to see it.

Then, stare at the level II/prints for a months and months all day and you'll begin to see what's going on. :D
More...

Wow, finally a real trader is posting on ET.
 
Quote from twofacedjoker:

Because he trades like you? lol
More...
like me and the profitable guys i know..

but yes i'm extremely biased towards my style and it is by no means the only way to make money...

but it definitely is a good one and very few people talk about it, probably part of why it can work so well
 
You must log in or register to reply here.
Back
Top