Tape Reading

Eagle8 · Nov 9, 2005

If you can afford it and are trading futures have a look at market delta or trademaven pro, each offering bid/ask volume analysis software, also take a free 30 day trial to hotcomm room institute of auction market theory, read the ensign software newsletter Oct 2005 edition free off web on using prior day poc for trading and read Mind Over Markets by Dalton.
Good luck, google to find all the above

Steve Tvardek · Nov 9, 2005

I rake in 6 figures a year trading and was trying to give you some honest advice. I may have misread your question but after reading your arrogant posts tonight, dont think I wish to help you out. I dont respect people who see the market as a "hobby, although I would like you to try your hand at it so I can take your $$$

.

Quote from trader28:

Well heres a small whiff of the coffee gentlemen, this is only ever going to be a hobby for me, I own 3 computer stores and long after you lads have blown out your last piddling 2k ib account I'll still be raking in 6 figures a year.... enjoy gentlemen

trader28 · Nov 9, 2005

Quote from Eagle8:

If you can afford it and are trading futures have a look at market delta or trademaven pro, each offering bid/ask volume analysis software, also take a free 30 day trial to hotcomm room institute of auction market theory, read the ensign software newsletter Oct 2005 edition free off web on using prior day poc for trading and read Mind Over Markets by Dalton.
Good luck, google to find all the above

Thanks mate, a scholar and a gentleman

trader28 · Nov 9, 2005

Quote from Steve Tvardek:

I rake in 6 figures a year trading and was trying to give you some honest advice. I may have misread your question but after reading your arrogant posts tonight, dont think I wish to help you out. I dont respect people who see the market as a "hobby, although I would like you to try your hand at it so I can take your $$$ .

You rake leaves at best... a real trader would not waste their time arguing with me, you gave yourself away many posts ago

trader28 · Nov 9, 2005

Quote from Hydroblunt:

You know what dude, you need to suck it up and realize that life is not about handouts. Maybe that is how you were brought up in easy going suburbia but for some people it all has to be done by themselves with no help. I had a very slight idea of what tape reading was and ended up learning it on my own by simply WATCHING THE TAPE. If you read "Reminiscinces of Stock Operator" you will notice that Livermore learned it all from simply watching the quotes and the prints.

So get your ass in gear and start watching some stock in action and how it quotes and prints vs what is in the Open Book. If you cannot get yourself to learn that, then I suggest you get out of trading ASAP because even tape reading has a very limited future.

I'm uncomfortable with the words "suck it up" and "ass" in the same post... please leave me out of your fantasies

Lucrum · Nov 9, 2005

Quote from trader28:

I'm a complete newby to this subject and would like to know what exactly you use to read the tape, ie: see at what price the large lots are being bought/sold.
Is it just the bid/ask price and bid/ask size on my IB trader workstation? or do I need something more exotic to see where the size is going?

Have you tried the ET search function?
Upper right hand corner of the page.
Just type in "Tape Reading" and you'll probably still be "reading" this time tomorrow.

marketsurfer · Nov 9, 2005

hi,

i have been using a software platform called tymora pro recently for daytrading. it automates much of the tape reading skill set that use to take years to learn, and is highly sophisticated yet easy to use. i believe they still have a free trial. www.yourika.com

hope this helps,

surfer

Steve Tvardek · Nov 9, 2005

Who said I was a master? I said I make 6 figures, not 7 or 8.

And I never argued with you, I tried answering your question. Your fuse is way too short man.

Quote from trader28:

You rake leaves... a master trader would not waste their time arguing with me, you gave yourself away long ago

trader28 · Nov 9, 2005

Quote from Steve Tvardek:

Who said I was a master? I said I make 6 figures, not 7 or 8.

And I never argued with you, I tried answering your question. Your fuse is way too short man.

You just keep telling yourself you make 6 figures, positive thinking is important... and when you finally get there, i'm sure you'll realise like all the other traders making 6 figures... you wont be in here arguing with me

Steve Tvardek · Nov 9, 2005

This coming from the idiot that doesnt know what time and sales are and has been a member of this site for over a year LOL.

Quote from trader28:

You just keep telling yourself you make 6 figures, positive thinking is important... and when you finally get there, i'm sure you'll realise like all the other traders making 6 figures... you wont be in here arguing with me