Only one person posting to this thread is a tape reader.
tape reading...
- Thread starter vincentnyc
- Start date
The hits keep coming but pace has slowed indicating a possible pause or bounce though not yet a reversal.
Charting and tape reading are not the same thing. Tape reading is much more valuable than data plotted on a chart. And I find charts invaluable. Put the two together and you really have something special.
Tape reading is not T&S, and it is not level 2. It is judging the market by its own action based on the transactions as they appear on the tape in terms of price and volume. Pace of trade is another little appreciated characteristic of market activity to which most pay little to no attention.
Charting and tape reading are not the same thing. Tape reading is much more valuable than data plotted on a chart. And I find charts invaluable. Put the two together and you really have something special.
Tape reading is not T&S, and it is not level 2. It is judging the market by its own action based on the transactions as they appear on the tape in terms of price and volume. Pace of trade is another little appreciated characteristic of market activity to which most pay little to no attention.
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This is a snap of SPY Level 2, T&S and Market Maker activity. While useful, it is not the same as "The Tape."
No offense, but that just sounds like a load of hooey!
Any idea what you sound like?
OP asked a question. I saw the answers he was getting and since no else here at "elite" trader seems to know the answer, I gave it to him. What he or anyone does with (which will likely be nothing) is up to the individual.
just because you don't use it don't make it "hooey." different stroke for different folks.
Not really. Truth is truth. Just because you claim to "use it" doesn't make what you said true.
My view is that it's subjective in interpretation/application and an unnecessary (even detrimental) complication.... an as such, it's worthless.
You're an idiot.
And you sir have joined the ranks of DUMBASSES on ET whom I've put ON IGNORE!! (Not to worry... you've got plenty of company!)