TAPE READING (chat room cont.)

[Bitstream]

fcukin' basket hedgies cpus, they lock the mkt in almost every freakin' stocks. this mkt is on a downward spiral in term of profitability for discretionary intra-day position traders...sooner or later there'll be none left.

 

[IV_Trader]

Quote from Bitstream:

fcukin' basket hedgies cpus, they lock the mkt in almost every freakin' stocks. this mkt is on a downward spiral in term of profitability for discretionary intra-day position traders...sooner or later there'll be none left.

so bad , huh?

 

[Bitstream]

Quote from IV_Trader:

so bad , huh?

trendy days are far and few in between, i make most of my money in just a few sessions a month and durin' earnings seasons. all the other days are all a churn where u gotta get mad to find somethin' that moves with predictability.

 

[Maverick74]

Quote from FastandFurious:

i'm talking about market shorts in terms of size in the openbook where the seller is aggressively stepping down.

Well this is not what you said but let me address this issue. Sellers do not step down in the open book. If they are stepping down, you will see them on the tape because they have to be one tick above the last price. Any btw, trying to make money off this shit today compared to 5 years ago? Are you nuts? Do have any idea how easy it was to do this with bullets. The risk/reward was 50 times what it is now. Again, I have to ask the question, why do this shit today with the current risk/reward payoff? It's not a question of whether it's profitable, it has to do with utility of capital. Makes absolutely no sense. There was a time do this, and that time is gone.

 

[FastandFurious]

Quote from Maverick74:

Well this is not what you said but let me address this issue. Sellers do not step down in the open book. If they are stepping down, you will see them on the tape because they have to be one tick above the last price. Any btw, trying to make money off this shit today compared to 5 years ago? Are you nuts? Do have any idea how easy it was to do this with bullets. The risk/reward was 50 times what it is now. Again, I have to ask the question, why do this shit today with the current risk/reward payoff? It's not a question of whether it's profitable, it has to do with utility of capital. Makes absolutely no sense. There was a time do this, and that time is gone.

I was talking about market shorts yes where it the size keeps stepping down until it gets filled. Yes, it's hard to do these days, and certainly the commissions, and the risk/reward ratio do not make it easier, if impossible. Let me ask you this, what would you do today? Pair trade? Position trade? Trade Forex?

 

[Maverick74]

Quote from FastandFurious:

I was talking about market shorts yes where it the size keeps stepping down until it gets filled. Yes, it's hard to do these days, and certainly the commissions, and the risk/reward ratio do not make it easier, if impossible. Let me ask you this, what would you do today? Pair trade? Position trade? Trade Forex?

I would only be in futures and options. There is absolutely no reason in the world to be trading stocks anymore. Even at the lowest commission tier, you are paying 10 times the notional amount of capital compared to futures and options. That's a huge vig my friend. Not to mention the volatility we are seeing in other markets right now. It makes 1999 in equities look like money market funds. Not to mention how much liquidity some of these markets have on the screen now. All a trader can ask for is liquidity and volatility. If you can't trade a liquid, volatile market, you should not be trading.

 

[mizer]

Quote from Maverick74:

I would only be in futures and options. There is absolutely no reason in the world to be trading stocks anymore. Even at the lowest commission tier, you are paying 10 times the notional amount of capital compared to futures and options. That's a huge vig my friend. Not to mention the volatility we are seeing in other markets right now. It makes 1999 in equities look like money market funds. Not to mention how much liquidity some of these markets have on the screen now. All a trader can ask for is liquidity and volatility. If you can't trade a liquid, volatile market, you should not be trading.

And the commodity stocks have'nt been volatile and liquid lately?

 

[FastandFurious]

Quote from Maverick74:

I would only be in futures and options. There is absolutely no reason in the world to be trading stocks anymore. Even at the lowest commission tier, you are paying 10 times the notional amount of capital compared to futures and options. That's a huge vig my friend. Not to mention the volatility we are seeing in other markets right now. It makes 1999 in equities look like money market funds. Not to mention how much liquidity some of these markets have on the screen now. All a trader can ask for is liquidity and volatility. If you can't trade a liquid, volatile market, you should not be trading.

I did not know that equities were this bad...

 

[Maverick74]

Quote from mizer:

And the commodity stocks haven't been volatile and liquid lately?

OMG no, not even remotely as close as the commodities themselves. Ask yourself this, how much money could you make trading 100k worth of NEM stock compared to 100k worth of gold futures. It's probably at least 20 to 1, if not higher in favor of the futures to stock not even taking into account the transaction costs.

 

[belavia]

Maverick, thanks for your response.
I remember you said tape reading is useless for futures, if im not mistaken. Have you switched to TA? Are you still on an intraday level.
Of course, you also said that when you actually tape read stocks youd never give that info out, so im not expecting much.