Help with Tape Reading....

Discussion in 'Trading' started by scoreperfect, Oct 19, 2007.

  1. Hi,
    I'm swing trading right now but really do have an interest as well in reading tape (especially after reading some of the posts about it here on this site). Mainly to learn how to feel the "pulse" of the market and of course enhance my skill in finding when to enter/exit trades. Mostly I'm intrigued in "what the tape is saying" etc.

    Even my TD Ameritrade account (Commander 2.0) has a window for this. This afternoon (Th.10/18/07) I was fascinated to watch GOOG move Intraday after the closing bell on the "tape" chart that streamed vertically showing Time, Price & Shares. In addition, Interactive Brokers has a Simulated Demo that shows real time activity (is this tape reading as well?).

    Just from reading posts on this site I know the long term answer of mastering tape reading is "thousands of hours watching it." Ok, I get the wisdom of that, but let's talk a bit about say, the first 100 hours. I mean, obviously in my Ameritrade window I see the time, price and shares stream by in a column and I can of course get some sort of sense for the trend from this (especially side by side with another window that shows tick-by-tick activity chart-style), but in the streaming tape, what is it I'm looking for? You know, beyond up and down in price....and how do I learn it - more to the point....how do I master it?

    Thanks.