Tape Reading for Forex

Discussion in 'Forex' started by enkidu, Aug 2, 2008.

  1. enkidu


    Is it even possible? You know, to stare at those flashing square boxes and see the "tape" and make a decision?
  2. 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
  3. Surdo


    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?
  4. enkidu


    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
  5. Surdo


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


    does your broker give you ts?

    and cognac is bad ass, i mean tupac drinks that stuff
  7. NO.....Tupac DRANK, he can no longer DRINK! :eek:

  8. Beebers


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