Tape reading?

[MrMuppet]

When you say "volume by price for the big picture", is this still intraday?

There is no timeframe per se. Timeframe is an invention of chartists. The only thing that counts is finding the price that hurts most people when it's traded away from...and that is always the price with the most turnover.

And it doesn't matter if you display that price on a weekly chart or intraday. What you need for an explosive move is an important price and fresh money pushing the market away from it. Everyone who established positions on the wrong side needs to get out and fuels the move.

Be aware that this is not a trading system and it does not give you edge. It is a way to structure the market information and helps you make decisions in terms of where and how much you want to put on. Direction is found by correlation (lead/lag) and timing by tape.

And that's all you ever need to make a profit.

 

[Sprout]

Dude, what's non DOM volume?!?!! Every market information there is is contained in a Price ladder. Price, Time & Volume, I'm not sure how much more bottom up you can get. The "tape" is literally nothing more than how much traded at which price and when, no matter how much witchcraft you invent around it. Seems like you need to get the work done, grab pen and paper and watch tape a couple of hundred hours.

I have a pretty open mind tbh...I just close it to crap.

Lol,

What’s observable in price movement is Dominant and non-Dominant volume.

But apparently not to you, since your well on your way to world diminution.

I’m not interested in being trolled.

Anything I say would just further cognitive dissonance for you.


Happy trading to you!

 

[MrMuppet]

Lol,

What’s observable in price movement is Dominant and non-Dominant volume.

What the hell are you talking about?? You realise, that DOM stands for Depth Of Market?

Whatever, I'm outa here. I don't care about converting some self proclaimed market messiah. When will you sell your first course??

 

[tiddlywinks]

Dominant, non-Dominant.

BTW... @Sprout does not and will not sell this information. It is public domain for those open-minded and bold enough to investigate it's validity and usefulness for their own purposes. You aren't one of those. The fact that Dom (as opposed to DOM) can only have one mass-conventional meaning to you, verifies you know all you need to know for your own trading. And that's cool!!

Trade On!

 

[volpri]

What matters is “what” price did and “how” it did it. All kinds of strategies...tactics..and techniques can be built around those two concepts. In addition “whatever” price and volume do in fact do the markets will always gravitate back towards uncertainty. Uncertainty is easy to see. It is RANGES!

 

[themickey]

If you've ever wasted your time reading Sprouts gibberish or hersheys for that matter, there's a whole clan of ET members who in order to trade, make a mountain out of a mole hill.
Thousands of pages of posts attempting at explaining how to read price.
These people are attempting at building a Queen Mary ocean liner in their backyards so they can go fishing in a pond.
Truely utter bullshit!!! Click on this link, but if you have sprouts on your ignore list you can't see it.
Fractal Theory: Redux

 

[Overnight]

If you've ever wasted your time reading Sprouts gibberish or hersheys for that matter, there's a whole clan of ET members who in order to trade, make a mountain out of a mole hill.
Thousands of pages of posts attempting at explaining how to read price.
These people are attempting at building a Queen Mary ocean liner in their backyards so they can go fishing in a pond.
Truely utter bullshit!!! Click on this link, but if you have sprouts on your ignore list you can't see it.
Fractal Theory: Redux

Mickey, man, when it is the weekend before Thanksgiving, I think it is time we stop them from the choding. I have no idea what "the choding" means, I just thought of it. It has something to do perhaps with the latest Star Trek music suite I have been listening to. This thingy...

Wish I could do that.

 

[Sprout]

Lol,

Seems like folks are failing the gibberish test.

To each their own; the ones that do their due diligence and the ones that complain.

 

[themickey]

Lol,
Seems like folks are failing the gibberish test.
To each their own; the ones that do their due diligence and the ones that complain.

Plagiarizing.

 

[MrMuppet]

If you've ever wasted your time reading Sprouts gibberish or hersheys for that matter, there's a whole clan of ET members who in order to trade, make a mountain out of a mole hill.
Thousands of pages of posts attempting at explaining how to read price.
These people are attempting at building a Queen Mary ocean liner in their backyards so they can go fishing in a pond.
Truely utter bullshit!!! Click on this link, but if you have sprouts on your ignore list you can't see it.
Fractal Theory: Redux

I know those kinds of people. They rather spend hours with designing a beautiful theory that will present itself to those young Padawan who open their heart up to the force than get their hands dirty with actual relevant research.

I actually thought some of the answers to be legit but once the voodoo vocabulary came up I realised there is no point in arguing.
So I think I'm done with this thread, no discussion about tape reading possible here.

As a primer, I can recommend reading "Reminiscenses of a Stock Operator", "Studies in Tape Reading" by Rollo Tape (aka Richard Wyckoff) and last but not least "An End to the Bull" by Gary Norden.
You wont make a dime by just reading them but you will get a good idea on how to organise yourself and the market data in order to build your own trade ideas. You will see how much more simple trading really is and at the same time much more difficult than just learning a system.

Good bye and good luck.


@Sprout: Do you actually realise that nobody complains? I think they are just a bit unhappy that you Witnesses of Jack Hershey hijacked a thread about tape reading with your theories that have absolutely nothing to do with tape reading at all.