Tape Reader

Discussion in 'Strategy Building' started by achu717, Oct 16, 2002.

  1. achu717


    Are any of you experienced traders using the "tape reading" method. Reading time and sales is like counting cards on the black jack table. Is tape reading really useful and where can I learn the art of of tape reading?

  2. ChrisRT


  3. I like the chapter titles of the book referenced in the link- 'Undeclared Secrets That Drive The Stock Market.' Has anyone ordered from the site TradeToWin.com?

    I don't like submitting my CC to a site I don't know. For example, the site wants my CC verification number which is a BIG NO NO. Don't give that out. If someone has your CC verification number (that code on the back of your card) the CC company will recognize them as the verified card holder.

    Also has anyone actually read the book?
  4. BKuerbs


    I did read the book. The title is more than a bit bombastic, but it has to offer some thoughts on the use of volume. The basics for the book are to be found in R. Wyckoffs work.

    My edition dates from January 2000. I hope they have a new version now, because mine is full of errors. The book could use some revision because the terms Williams uses are not always clearly defined, all in all it's carelessly written.

    That said it offers a different point of view on the use of volume as is offered in the works of Richard Arms or Shaleen.


    Bernd Kuerbs
  5. I read the book 2 years ago. Basically it is an application of tape reading to chart reading. Some errors, a lot of confusion (read it 5 times!), but it improved my trading. Most of the people do not like the book because it does not teach how to pull the trigger. Basically it is 100% non-systematic trading.

    If you want to learn more about tape reading I advise you to buy all Richard Wyckoff books. Not for the content but for the approach. Gann was also a good tape reader. Forget the esoteric stuff, this guy was an amazing tape reader. There is also an old book from H.B. Neil "Tape Reading and Market Tactics".

    Do not expect to learn tape reading only from books. You must practice a lot. The best traders I have ever met were tape readers.

    Just my 2 (euro) cents...
  6. mBear