Breakout Trading using Time and Sales

This is a discussion on Breakout Trading using Time and Sales within the Trading Journals forums, part of the Reception category; Interesting point. I'm not sure how people can so quickly dismiss tape reading as a valid trading technique. To be ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Oct 4, 2009, 2:44am   #15
 
amit1986's Avatar
Joined May 2009
amit1986 started this thread Interesting point. I'm not sure how people can so quickly dismiss tape reading as a valid trading technique. To be completely honest with you, I think tape reading is probably the most fundamental way of trading there is. Price action of any product is driven by supply and demand, and that is what tape reading is all about - identifying areas of supply and demand. Of course it's really not as simple as seeing a lot of buying/selling pressure and trading off of that, but over time, you tend to figure out what to look for when reading the tape.

Plus, I wouldn't put Mr Charts and myself side-by-side. Mr Charts is a seasoned professional at this game, while I still consider myself in the "learning" stage.



Quote:
Originally Posted by TAjammy View Post
i heard on elite trader some guy saying that nasdaq and futures tape reading deosn't exist and soon NYSE once it becomes electronic lulz, he's obviously wrong...sorta because i think his style is to follow specialist and MM activity, well how else could the likes of you and folks like mr charts read tape !
amit1986 is offline   Reply With Quote
Old Oct 4, 2009, 2:50am   #16
 
amit1986's Avatar
Joined May 2009
amit1986 started this thread Check out this video:

This is just one of the traders in the book Millionaire Traders. The guy interviewed in the video, Steven Ickow, trades off the level 2 screen. It's clear tape reading works now as much as it did before.
amit1986 is offline   Reply With Quote
Old Oct 4, 2009, 9:10am   #17
Joined Jul 2009
yeh found out that guy reads the quote of level 1 and doesn't even read T&S, he looks for a big buyer and follows him, seems very complex tbh and he says when NYSE goes fully electronic it will be impossible to do it like that again. but you can always rely on T&S
TAjammy is offline   Reply With Quote
Old Oct 4, 2009, 12:36pm   #18
Joined Jul 2009
i can't help but bullsh*t on forums, i got caught out again, i can't look at T&s on stocks with my demo , lol how embarassing
TAjammy is offline   Reply With Quote
Old Oct 5, 2009, 4:28pm   #19
 
amit1986's Avatar
Joined May 2009
Head and Shoulders Pattern on Dow Jones Industrial Average

amit1986 started this thread Seems to be the formation of a Head and Shoulders pattern on DJIA!

Interesting to see how it plays out.
Attached Thumbnails
djia-h-s.jpg  
amit1986 is offline   Reply With Quote
Old Oct 6, 2009, 3:55pm   #20
 
2 Posts
Joined Sep 2009
I love how you explain your topics.
So informative and I get it!
Read it last night and today as well..but yes I got it

Yes...also don't disappear again!
trina is offline   Reply With Quote
Old Oct 7, 2009, 2:44pm   #21
 
amit1986's Avatar
Joined May 2009
amit1986 started this thread No worries! Just focus on your other methodologies and setups until you get access to Time and Sales.

Quote:
Originally Posted by TAjammy View Post
i can't help but bullsh*t on forums, i got caught out again, i can't look at T&s on stocks with my demo , lol how embarassing
amit1986 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Time & Sales glebecki First Steps 22 Mar 19, 2010 2:19pm
day trading software w/ time and sales OPTIONSTHIEF Trading Software 0 Apr 29, 2008 3:54am
Trading the YM with Time and Sales lurkerlurker Indices 4 May 31, 2007 10:16am
Level II and time of sales incorporated into trading systems pkfryer Trading Software 2 Jun 8, 2004 6:24pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)