I don't agree at all. People should not be so narrow minded. Everybody always thinks that there is only one way to trade, and each time it is the way THEY trade. You can read the tape and make money, but you can also use TA and make money, you can work on support/resistence and make money, you can draw trendlines...... There is a whole variety of possible useful ways to trade. Find out what is the best way for YOU to trade. I've learned that often other people are smarter than i am, so instead of saying: i'm the expert and what i do is best, i always put myself in doubt and compare what others say with what i say. And sometimes i must admit that they are right and i am wrong. But that is how i become smarter, i accept knowledge from others. So Mavericks posting only gives ONE way of trading, not the ONLY way of trading.
I never said my way was the only way. It was simply the way we taught our traders. TA is too subjective and you can't sit down and teach guys TA and say this is how you do it. I could teach any guy how to read the tape. And every guy I trained made money. It was a reliable method that had a very structured approach. It is not the only way to trade. In fact, it's a very very hard way to trade. It was simply the way I was taught though.
Well, he asked me what my opinion was on how I trade and Mav's post basically pinpointed how I would describe my own path in trading so far. Of course there are many ways to make money in the markets, I would never say otherwise. Mine just happened to be very similar to how Mav described.
I used AT Financial. I don't know what other products are out there. Most brokers I think provide T&S, although many don't let you scroll back and see the whole day. I'm sure someone on ET can give you an answer.
Try Quotetracker plus an IB Feed. You should be able to print the whole T & S sheet from Quotetracker. - Spydertrader
big buyers are obviously on a prolonged vacation; as soon as stocks hit resistance at a nice round number...good bye trend...bastards accumulatin' are gone into hidin' and it shows, especially on news related issues. stocks reportin' are dead and not only the usual suspects where there was plenty of free money for all not long ago but also on less liquid, less known stocks, where u cud usually get into huge 5-10% rides...that's what i trade for gawd sake, and they are stuck, or faded or rebated to death...good luck tradin' this stuff, my edge is goin' down the tub.
Bit , why reporting is dead ? This quarter after report movement was the highest in the last 2 years. Well , at least for optional stocks
Seems that this thread certainly caught the attention of some very good tape readers. Appreciate it if the experts can advise on the below query. Thanks. Steve Tvardek or any other tape readers, If I remember correctly, Steve ever mentioned that he traded the more volatile stocks. (If not, my apologies) I've been monitoring Aapl for a long time now and was wondering whether it's possible to tape read stocks like this? If so can you share any hints on how you do that for these more volatile stocks? Do you see both Level II and tape or just 1 of them? Do you use charts also? Thanks. PS: For whoever who wants to mention this, yes, agree that the less liquid stocks (500k-1m) are easier to tape read. However, I prefer to trade more liquid stocks
IMHO,i would take a look at the journal Spydertrader began relating to jack Hersheys methodology..Its a great thread.... If you follow along dilligently,you will get a very god feel for the work and effort that goes into a trading system
uh? what i have on my screen every day is just faded to death at open, yeah they might move but not trend; not bad at the beginning of earnings season but things got ugly in a flash...u need to be very surgical to pick up the only 1-2movers of the day and right now it is impossible to get in at open with .5-1% spreads.