Is there a thread out here for tape reading nasdaq ?

Discussion in 'Wall St. News' started by .002commission, Jan 6, 2006.

  1. looking to learn how to tape read nasdaq im a new york scalper trying to learn the automated traders and market maker tricks thanks for your help who ever can help me.
  2. This seems to be in the wrong forum, no?
  3. see if you can get a hold of rainman.... lol
  4. sorry to bother which forum should i check out?
  5. sorry to bother which forum should i check out?
  6. When I trade nasdaq, its 100% charts with a little bit looser stops maybe 5-10 cents looser then a nyse stop,

    When I trade nyse, its exact stops

    nasdaq has too many conflicting ideas flying around
    but the profits are exponetial sometimes.
  7. Choad


  8. Well i like to tape read
    and i buy small amount of shares ( 500 ) to ( 1000 ) max
    I also try to see the high and low
    I try to make $50 or more on a trade but have to be carefull the trade does not go against me
    I like to have 4 level 2 window and i look at chart they are very helpful also
  9. thanks for the help i do see nasdaq is more about charts and playing off technical levels but i also think tape reading is important but interpreted differently from new york tape which i like but what do you mean by 4 level 2 level window.
  10. Let say when u watch level 2 window or order entry on the level 2
    i like to open and (watch ) four window and watch 4 stock constant and try to scalp which have been very helpfully for me.
    Rest Second very helpfully has been the HI and low it is good for scalping
    third indicator i use is the stock against the nasdaq index

    EG Fri
    Dell was all day down and the nasdaq was positive so i had to see how dell was behaving
    every time it very to 30.70 t 30.80 i tried to short it and it all worked out pretty well
    But u have to make sure u don't get caught in 1 direction rally when you are already in a position ( which happened to me but i averaged it out ) but nothing can guarantee you anything where the stock will be heading but we try to do our best. On fri i was watching Dell INTC QQQQ and msft
    This was my trading day for FRi
    hope that was helpfully for you
    #10     Jan 7, 2006