Tape reading

[neil]

Next is a day's training with Naz in May, after much research I think he come's the most highly recommended. I only hope I can keep up with him on the day!

I agree - "you have your head screwed on."

Learn from a winner like NAZ etc, but forget the grail quests you see popping up regularly on this site.

Good luck

 

[neil]

price & volume on a 10 min chart isnt tape reading

p&v as it happens - trade by trade is.

i did read the thread. just seems to mention a load of books

The term "Tape Reading" is often used in a confusing manner, but in the context of your understanding:


Maybe you should buy a book, but as mentioned in the below link, "Tape reading" ( Price/sales etc) cannot be taught; you learn by observation, and effort, plus practice. Since the writer is a pro. trader I assume he knows what he is writing about.

http://www.elitetrader.com/vb/showthread.php?s=&postid=461737&highlight=tape+reading#post461737

More links for you to study. I have not sorted them for you. Some are on your subject, some not. Hopefully those that are on subject will assist you.

On "Elite Trader" you could try another "Search" using the words "Tape Studies" and see what arises.

http://www.elitetrader.com/vb/searc...d=413189&sortby=lastpost&sortorder=descending

Good luck

 

[tonie]

i'm trying something out at the moment, whick involves printing out the t&s on a few Nas stocks with min daily volume of 2 million & just observe how the Tape reacts at support & resistance levels & breakouts.
Did anyone find out about the 2 books that Mr.charts thought were useful on this subject.

Tonie

 

[Trader333]

If you send him a PM I am sure he will tell you what the books were.


Paul

 

[Salty Gibbon]

Found Tom Williams Volume Analysis stuff very helpful indeed.

 

[LevII]

Tom Williams book is called "The undeclared secrets that drive the stock market" ISBN 0-9523465-0-8.

I found it interesting but confusingly written and riddled with errors.

HTH

LII

 

[chump]

I think if you read Ricard Wyckoff and think about it conceptually it's not that hard to understand what he meant by tape reading. The ability to read the ticker tape is only a very small part of the entire concept.

Cheers

 

[Mr. Charts]

I've put a couple of examples of fast trades mainly based on tape reading on the "What is scalping" thread.

 

[Salty Gibbon]

So are you basically just looking at very short-term momentum here Richard. Short quickly when the time & sales gets very red and cover pretty smartly when it all dies off ?

 

[Mr. Charts]

No, Salty,
Chart set up first then tape reading including T&S and my own level 2 analysis and momentum are the triggers.
If you just shorted when it when red, your fill would be poor and you'd whipsawed about and lose plus you'd be a nervous wreck.
Richard

 

[Dow Dog]

Is this different to the way Nas does things ?
He seems to preach Level 2 first prior to chart set-up ?
But I am glad you said chart set-up first cos that's the way I go about things generally.
I have previously tried shorting when "all is red", only to find myself " in the red" and a bag of nerves.
Lol

 

[Mr. Charts]

Salty,
Any other questions, you know where I am off this board.
Kind regards
Richard

 

[mmakinson]

tape reading

The books I am suggesting are NOT those mentioned by a320.
Anyone can PM me asking for details, but PMs and emails from the nasties won't even get read, simply deleted.
And, no, I don't get a cut!!!

Mr. Charts,

I would like any information about tape reading that you can offer and the books that said have helped you in the past. What is tape reading exactly. Just trading based on price movement and not on charts. ( I am on the futures side)

Thanks,

Matt