tape reading...

[vincentnyc]

This is as close as one can come to a "screenshot" of tape reading:

View attachment 239939

i traded: fsly, dkng, and amd these past weeks.

 

[Gaslight Capital]

i traded: fsly, dkng, and amd these past weeks.

The tape is flying and it is as red as I've seen it. You see a static screenshot but that is moving scrolling through trades as they print. TSLA hit at 9:39:54 at $402.05 (just crossed at $381.10) and the whole tape changed from mixed/bullish to bear at 9:40:09 except for the ZM, PTON, DOCU lock down stocks.

But most wouldn't find that information to be useful, I suppose.

 

[vincentnyc]

The tape is flying and it is as red as I've seen it. You see a static screenshot but that is moving scrolling through trades as they print. TSLA hit at 9:39:54 at $402.05 (just crossed at $381.10) and the whole tape changed from mixed/bullish to bear at 9:40:09 except for the ZM, PTON, DOCU lock down stocks.

But most wouldn't find that information to be useful, I suppose.

View attachment 239940

i traded zm and pton earlier this week.

 

[SanMiguel]

i heard about some ppl don't use charts and trade based on tape reading. what do they mean by tape reading? on my td ameritrade think or swim platform, i have a column where it shows "times and sales" price of a stonk. is that tape reading by looking at the "times and sales?"

View attachment 239919

Look up DOM trading along with time and sales.
Tape reading is the old fashioned name for ticker tape reading but the term kind of stuck around

 

[Gaslight Capital]

Look up DOM trading along with time and sales.
Tape reading is the old fashioned name for ticker tape reading but the term kind of stuck around

No, read the thread.

 

[1a2b3cppp]

I'm enjoying this thread but not understanding it lol.

 

[1a2b3cppp]

Gaslight so you're saying tape reading is looking at time and sales of every stock on the market to get an overarching impression of the market?

 

[SanMiguel]

Gaslight so you're saying tape reading is looking at time and sales of every stock on the market to get an overarching impression of the market?

Not every stock, some key ones.
Out of interest why that rather than just say futures time, sales, volume?

 

[IamTheCasino]

Not every stock, some key ones.
Out of interest why that rather than just say futures time, sales, volume?

Because Time and Sales is unreliable as it is shown in TOS, for example (and most other platforms). It doesnt show every order. A lot of the time it consolidates orders and you see one big order and there is no movement in price. Its also beholden to whatever platform you are on and how they display this information.

The scanz pic seems to be showing the lowest price and the total volume up until that point - not individual orders - that appears to be the difference and therefore not the same.

 

[Stockboy]

The tape is flying and it is as red as I've seen it. You see a static screenshot but that is moving scrolling through trades as they print. TSLA hit at 9:39:54 at $402.05 (just crossed at $381.10) and the whole tape changed from mixed/bullish to bear at 9:40:09 except for the ZM, PTON, DOCU lock down stocks.

But most wouldn't find that information to be useful, I suppose.

View attachment 239940

Thanks so much for sharing your perspective!

What is being promoted as "reading the tape" in the current trading lingo, is T&S and Level II.

Some people claim to, being able to trade just off of "reading the tape", (again this is meant as just the T&S and Level II). I do find it very valuable, probably wouldnt be comfortable daytrading without it, but very very interested in learning more about what you are trying to share here.

I will continue to read, and lookup more of what you have already contributed. If you dont mind could you explain in more detail what tape reading is and how traders can utilize it? If not no worries.

Thanks again