Time and Sales - Tape Reading..

Originally posted by Jabez1947
The best way I have found for using time and sales is to use a filter on it. QCharts for example offers this. What I do is is filter out all trades under 5,000 shares. Some high flyers I set it at 10,000 shares.
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I do the same in Realtick. Can setup multiple T&S windows (with various filtering like 500sh, 1000sh, 5000sh, etc.), save them as favorites so they don't take up desktop real estate, call them up in an instant when you need them. Very useful at times.
 
In staring at a number of small and mid-cap stocks, it occured to me that sometimes the volume being printed could easily be "faked". I wondered whether MM's could legally offer say 10,000 shares on ISLD and then proceed to hit his own offer, doing nothing but creating a print (or a series of prints, as if momentum players were jumping in) on T&S. I even called NASD to see if it was legal and got a half-baked response to the effect of "I don't think its illegal but why would a MM want to do that?". Besides the obvious stop-running, I'm sure there are a number of other tricks one can develop if he or she could print volume at will. Anyone know the rules on this?
 
Originally posted by illiquid
In staring at a number of small and mid-cap stocks, it occured to me that sometimes the volume being printed could easily be "faked". I wondered whether MM's could legally offer say 10,000 shares on ISLD and then proceed to hit his own offer, doing nothing but creating a print (or a series of prints, as if momentum players were jumping in) on T&S. I even called NASD to see if it was legal and got a half-baked response to the effect of "I don't think its illegal but why would a MM want to do that?". Besides the obvious stop-running, I'm sure there are a number of other tricks one can develop if he or she could print volume at will. Anyone know the rules on this?
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rules, schmools. if they can pull it off, they will.
 
Originally posted by illiquid
In staring at a number of small and mid-cap stocks, it occured to me that sometimes the volume being printed could easily be "faked". I wondered whether MM's could legally offer say 10,000 shares on ISLD and then proceed to hit his own offer, doing nothing but creating a print (or a series of prints, as if momentum players were jumping in) on T&S. I even called NASD to see if it was legal and got a half-baked response to the effect of "I don't think its illegal but why would a MM want to do that?". Besides the obvious stop-running, I'm sure there are a number of other tricks one can develop if he or she could print volume at will. Anyone know the rules on this?
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This is called "painting the tape" It is illegal
 
Most traders running at $.01 commission need between $.04 and $.05 just to break even for the ticket costs and so forth.
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With IB you only need $.02 to break even with 100 shares (with 1000 shares you get $5 profit after $15 commission).
 
Your Redi machine will give you time and sales, and a dedicated ticker for each stock if you like. Neovest First Alert has a great running ticker for tape reading....

Don
 
I run QQL and on Time & Sales I've noticed that trades will be posted that are far out of the current bid x ask price range like they aren't being posted right away or lagging behind.. Someone know what I am talking about? please let me know.. this is on NYSE I haven't checked the nasdaq stocks..

Thanks
 
The trades aren't required to be posted right away (NYSE). They can be posted hours after they are made (over the phone or whatever).
 
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