Tape Reading for Forex

Is it even possible? You know, to stare at those flashing square boxes and see the "tape" and make a decision?

 

forex is a over-the-counter market and would be almost impossible to tape read.

you could maybe watch the speed of the quotes to get a idea of momentum

 

Some platforms post the last "Bid" in the Times & Sales window, your other option is to watch the futures trade, assuming you are trading a major.

Do you have a chart?

 

yes i have a chart

and fuck it, i will just go by the price action of the chart

damnit i'm stuck trading forex b/c of my insufficient funds

and i have "insufficient funds" b/c i'm just practicing and i will only "practice" with a few hundred to fuck around with

 

I am fucking trading USDJPY right now and having a cognac.
You need T and S dude.

 

does your broker give you ts?

and cognac is bad ass, i mean tupac drinks that stuff

 

NO.....Tupac DRANK, he can no longer DRINK! :eek:

 

Laphroaig will improve your culture - and who knows, will improve your trading ... or comfort you when things go wrong