Hello MarkBrown,
What you are doing makes alot of sense to me and I am very familiar with. It is called trading research and development! Please continue. GPT 4.0 is a great assistance.
Tape Reading Renaissance
- Thread starter MarkBrown
- Start date
What you are doing makes alot of sense to me and I am very familiar with. It is called trading research and development! Please continue. GPT 4.0 is a great assistance.
Thanks for clarifying, so the gpt mention is simply to assist in coding, similar to what Github copilot provides?
Which still leaves my comments in tape reading itself. I guess I am sorta confused how this can still provide any type of edge in an age where many large orders are hidden and even filled off exchange in dark pools or as block/facilitation trades, whose existence you would learn at a much later point in time. Anything on your retail screen is by design highly biased and insufficient information..at least regarding tape reading
Which still leaves my comments in tape reading itself. I guess I am sorta confused how this can still provide any type of edge in an age where many large orders are hidden and even filled off exchange in dark pools or as block/facilitation trades, whose existence you would learn at a much later point in time. Anything on your retail screen is by design highly biased and insufficient information..at least regarding tape reading
I agree with this assessment. When one actually starts to catalog, track and use all those "intuition" things, it actually very concrete and codable. Also I think people cannot organize and manage on a conceptual basis how they interrelate, let alone how to code them.
Add to that and it is just a lot of work, like 1000 hours of work to JUST get into the thick of it.
I think a lot of people are simply too lazy or greedy (def: wanting something they do not deserve or earn).
The so called "edge" is working hard for years grinding, testing, improving, stepping back, evaluating, epiphanies and repeating. There are a lot of ways to make it work but they all have this in common.
Emotions in trading are not for me, neither is daily-weekly fatigue. Those are my weakness and I accept them.
This is a pretty rude response. Negative, dismissive and based on not knowing the details and guessing. I am keeping this in mind.
As for tape reading, I think of it as a wide topic, not just what is described by Wykoff, aka roll-o-tape". It is the concepts not the implementation that is useful. That is pretty standard learning: Take the concept, not the implementation. This is also the difference between universities and (state) colleges. The former teaches theory, the latter implementation.
That being said it is basically a branch of price action. And that is not dead by a long shot. The fact that dark pool or algo go off and it is Algo versus Algo, is just an excuse. One works with them, not throw up their hands and say it is impossible to make it work. Things change, so you change with them.
PS: Ironically, that is how Chat GPT , LLMs, came to be. The concept was sound ( in the technical use of the word) but it was not until there were millions of images to train it. It was tossed in the dust bin many times BTW.
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No good deed goes unpunished! I bet it make’s Mark want to share his knowledge even more.This is a pretty rude response. Negative, dismissive and based on not knowing the details and guessing. I am keeping this in mind.
As for tape reading, I think of it as a wide topic, not just what is described by Wykoff, aka roll-o-tape". It is the concepts not the implementation that is useful. That is pretty standard learning: Take the concept, not the implementation. This is also the difference between universities and (state) colleges. The former teaches theory, the latter implementation.
That being said it is basically a branch of price action. And that is not dead by a long shot. The fact that dark pool or algo go off and it is Algo versus Algo, is just an excuse. One works with them, not throw up their hands and say it is impossible to make it work. Things change, so you change with them.
Have you actually said a single thing of substance? Must have missed it. You did not respond specifically to a single point I made. Tape reading is a well defined term, look it up if it is not familiar to you. Nothing of what you said counters the fact that many large orders that have the potential to move markets are reported late or never, even many sizable fills are reported very late. What you see on the screen is a tiny portion of what is really going on. You missed my point, it's not about giving up, it's about understanding that what you see on the screen means very little for trades of short holding periods (which tape reading specifically targets)
Your comment on gpt and ml makes zero sense at all. I I work in this space. Care to elaborate?
Your comment on gpt and ml makes zero sense at all. I I work in this space. Care to elaborate?
This is a pretty rude response. Negative, dismissive and based on not knowing the details and guessing. I am keeping this in mind.
As for tape reading, I think of it as a wide topic, not just what is described by Wykoff, aka roll-o-tape". It is the concepts not the implementation that is useful. That is pretty standard learning: Take the concept, not the implementation. This is also the difference between universities and (state) colleges. The former teaches theory, the latter implementation.
That being said it is basically a branch of price action. And that is not dead by a long shot. The fact that dark pool or algo go off and it is Algo versus Algo, is just an excuse. One works with them, not throw up their hands and say it is impossible to make it work. Things change, so you change with them.
PS: Ironically, that is how Chat GPT , LLMs, came to be. The concept was sound ( in the technical use of the word) but it was not until there were millions of images to train it. It was tossed in the dust bin many times BTW.
i will try to be less vague by stating we see on a chart the price action caused by data you can not see, how is that different from seeing the missing data and hiding the known data?
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Yes, good luck, you clearly show you have no clue what you are talking about. Instead of engaging with someone who has done this for a significant part of the career) and provided detailed reasons retail tape reading does not work anymore today you link to a wiki article on "missing data". That's quite an affront. Pleaese put me back on block, so I don't have to read more of such crap.
i think you have demonstrated you have a closed or one track mind often the results of memorizing teachings provided by professors at higher education camps.
did you look at the chart i posted at all? you seem so crast, rude and impatient. like your entitled and demanding of me, im' not an employee. i don't work for anyone, i just trade share what i can without giving away the edge.
you have made more post than i have and your likes are half as as many as mine, i think that says my comments are favored to yours 2 to 1. i don't like blocking people because they are angry souls, but i will not be spewed upon by an unwillingness to learn.
m
Again, I provided details why tape reading does not work. If you were interested in substance you would have debated the issue. Your claim that you don't block people is factually wrong, you did block me before and for some reason unblocked me. Then your statement about likes is a reflection that you seem to need others' approval to justify yourself.
I made points why tape reading does not work anymore in retail space. How about debating the issue and the points I made. Please enlighten all of us why you think a hidden order that may be 100 times larger than anything you see on the screen does not greatly skew what conclusions you draw by merely watching and analyzing the screen.
And yes I did look at your posted chart, I am not sure what point you try to make with it because the content does not support your claims.
I made points why tape reading does not work anymore in retail space. How about debating the issue and the points I made. Please enlighten all of us why you think a hidden order that may be 100 times larger than anything you see on the screen does not greatly skew what conclusions you draw by merely watching and analyzing the screen.
And yes I did look at your posted chart, I am not sure what point you try to make with it because the content does not support your claims.