#NYSE TapeReader on MIRC now.

Discussion in 'Educational Resources' started by Kaizen, Oct 16, 2002.

  1. Kaizen


    I set up a channel on MIRC (activetrader) for just NYSE stocks. It was setup tonight so it will probably take a while for it to get going.

    Here is the description:

    "Reading the Specialist, profiting from block order flow, program trades, and other unusual NYSE stock activity."

    This room is dedicated to profiting off of NYSE stocks by recognizing the following: nuances of certain

    specialists, extremely large bids and offers, big prints, unusual activity (order flow), as well as watching the

    PREM for when program trades might trigger and watching for probable high correlation trades. Unlike the

    chaos of the NASDAQ market the NYSE is usually much more orderly and liquid so often traders can trade larger

    size and trade for smaller moves. If you see unusual activity in an NYSE issue you trade, comment on it. Unusual

    activity includes huge bid and offers, extremely wide spreads, huge block prints, an offer that is constantly one

    cent off the bid (someone trying to get short), etc. Also, NYSE stocks have much higher correlations than

    NASDAQ stocks. For example if you see a large seller for example in BAC, or the BKX.X breaking down let the

    room know because WFC and ONE might come for sale as well or if GM for example gets a mid-day debt

    downgrade, post and tell everyone to watch F and DCX for possible short because of the high correlation. Let’s

    make some $$$$!

    If anyone wants to check it out there are two ways to access it. If you already have MIRC you want to look for financialchat: Random Server for the server, then go to activetrader. Once you have active trader open, you can click on Channels and then they have about 20 rooms to choose from.

    All of them are free. The one I added is: #NYSETapeReader. Activetrader is the largest chatroom I am aware of with about 6-7 hundred traders in it during the day. Very noisy (lots of rumors and trading humor) in there but nice to have open if for anything else if there is a big move in some stock those guys are usually chatting about it. The channels break off into chat rooms dedicated to everything from headlines, to swing trading, to futures, etc.


    if you don't have Mirc.

    The otherway to access it is to go through the web and avoid the download.


    I am aware that many pure tape readers are too busy trading to even think about some chatroom or sharing their setups but hopefully the the room will lend itself to some other profitable trading ideas as well as pre-market and after market discussions about some of the days action from an NYSE perspective.
  2. othernet would be better server.lots more popular.
  3. Kaizen


    I didn't know that. Am pretty sure activetrader is the most active trading room on the net so I just figured it would be the logical place to put the channel since so many trader channels branch off from it.

  4. no problem.can always move later if you want to.i will check your new room out tomorrow.