What's the point of tape reading?

[Aisone]

wrong time is a false introduced poison pill to data and math applied on it . velocity and acceleration do not depend on time, they depend on data alone. if you intraject time you have just tainted the outcome and the ignorance of this prominent.

I don't think you understand what velocity and acceleration is. Without time, there is none.

Velocity = distance/time

Acceleration is the rate of change of velocity.

Whether it is change in range bars over time, or price movement over time, it is still calculated by using time.

 

[M.W.]

Agree yet you can replace time with a derivative of time such as the duration between number of trades executed, in the end it all comes back to time.

I don't think you understand what velocity and acceleration is. Without time, there is none.

Velocity = distance/time

Acceleration is the rate of change of velocity.

Whether it is change in range bars over time, or price movement over time, it is still calculated by using time.

 

[klattermusen]

its not linear until it is and then it's not. How does reading charts or tickers prepare you predatory algos that make it up as they go along. Sure there are "levels" but they sure didn't matter the last 10 days. This is new because the game is constantly changing.

 

[Specterx]

Talking about tape reading in 2023 is like a guy who read Livermore positing that a Head n’ Shoulders in AAPL represents insiders preparing for a bear raid, and actually thinking they are savvy/ahead of the game rather than decades out of date.

 

[M.W.]

Not everyone has the ability to think and desire to keep informed of changes in life.

Talking about tape reading in 2023 is like a guy who read Livermore positing that a Head n’ Shoulders in AAPL represents insiders preparing for a bear raid, and actually thinking they are savvy/ahead of the game rather than decades out of date.

 

[jokepie]

I just watched a video of two traders watching the tape when they could have just drawn a triangle and gone to make a sandwich.

Like seriously what did they learn from sitting there with their eyes glued it? People had to read the tape to visualize price action before there were charts...or they would chart the tape. You don't go from charts to tape reading...its backwards. What's next...ticker tape?

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With the use of Algorithms by ALL Sophisticated Market Participants (including Market Makers) with tape reading, you can ONLY spot a BIG order by a Retail Trader with direct exchange excess. BIG is relative, so go figure.
Just because you spot a big order and how it gets filled - Is in my opinion no confirmation for a long-term (i.e over a few minutes) trend. Effect may be momentary, that's all.

 

[wxytrader]

its not linear until it is and then it's not. How does reading charts or tickers prepare you predatory algos that make it up as they go along. Sure there are "levels" but they sure didn't matter the last 10 days. This is new because the game is constantly changing.

Price has been in a triangle. Algos or not price action is determined not random.

I should start another topic about this, but you can find countless youtube vids on false breakouts and how to spot them lol...some magic indicator soup or whatever. This would be coined a false break out when it continues on to ((5)), but there is no such thing as false break outs..there are only impulse and corrective waves that must fulfill their extensions.