Hi . Need a big favor. Anyone knows where to find a tape reading software. Saw one couple of years back But was not interested in it then. Here is the story. I am currently preparing to move from pit trading to electronic but have a hard time staring at the screens for hours. Any great ideas or software that might help alleviate this problem welcome. Cheers.
The only one I've heard of http://tradeguider.com/Cmetho.asp but I would be rather suspicious about it. A system based on bid/ask & volume analysis can be called "tape reading system" only by analogy. They refer to Wyckoff - but Wyckoff himself was cautious about "mechanical" trading and eventually favored trading for the daily swings++
Give www.marketdelta.com a look. It is not a system but rather a interesting chart (called footprint chart) of price/volume that tape readers might like.
Hello, There are a few programs out there that do bid/ask analysis. <a href="http://www.marketdelta.com">Marketdelta.com</a> <a href="http://www.trademavenllc.com/">Trade Maven</a> <a href="http://tradeguider.com/Cmetho.asp">Trade Guider</a> <a href="http://www.topgunsoftware.com">TopGun Software</a> I am obviously biased because I am an owner in TopGun Software and many of my trading ideas are in the software but there are some interesting differences between our software and every other one on the market. MarketDelta and Trade Maven both run on .NET. The .NET runtime is not appropriate for trading applications because it is not fast enough. In .NET there is a lot of overhead which is necessary to implement rapid application design. It's simply faster and easier to program an application in .NET. The price of this is the performance penalty. In TopGun's application, we frequently use the most low level windows API libraries possible in order to minimize overhead. The result is a trading application that is blazing fast. I have used Market Delta and Trade Maven and both have become very slow when market trade rate went through the roof. In other words every time there was a news announcement these programs would eat up all of my CPU. I have heard people talk about Trade Maven having quotes that are 3 to 10 seconds behind their eSignal app and I have witnessed this too once when the price of oil fell and the market exploded up. Because our software is written in C++ it is very fast and doesn't get behind. We have the most efficient program of any of these 'tape reading' platforms. For example, in Market Delta I could only watch a few symbols without the CPU getting crushed and affecting my order entry module, but in our platform we can actually monitor in real time up to 1,000 symbols. C++ is very fast because it is executed natively on the CPU. Every single area of our program is written with performance in mind and it sometimes takes us weeks of tweaking for a new powerful feature to have it not affect CPU. Other differences are our buy/sell pressure tool also lets YOU select what size traders you want to monitor. For stocks I often watch what the 5,000+ share traders are doing. For S&P eminis I will watch what the 100 lot traders. <a href="http://www.topgunsoftware.com/video/buysellpressure.avi">Watch a video</a> showing how our Buy/Sell Pressure "Tape Reading" works. <a href="http://www.topgunsoftware.com/"> <img src="http://www.topgunsoftware.com/elitetrader/topgunlogo.gif" border=0></a>
I tend to do things sometimes without thinking about them. I shared with my business partner my post and he felt it was wrong to say anything negative about our competitors products. After reflection I have come to agree with him. Although everything I said in my previous post is true there could be other factors for my experiencing delayed quotes in Trade Maven. The computer I tested Trade Maven on is about 1.5 years old, not my newer and faster computer I trade from. It is a 1.5 Ghz Pentium 4 with 512Mb of RAM. Anyway I am very excited about the trading platform we have developed over the last three years and I'd like to publicly apologize to Trade Maven and Market Delta, both are excellent programs with real unique functionality.
Hi, Whenever you see a note from this name, you should be aware that something doesn't smell right! This is in response to Chris Donnell / TopGun Software's recent post in this thread. Many issues here Chris. First the software, second your business methods. On the software comments, you are incorrect in basically everything you mentioned in regards to TM. First, TM is written completely in C and C++. The DotNet is for the installation program and the Performance Viewer, which is a separate application for viewing ones performance after hours. Second the delays in quotes you are referring too has nothing to do with TM as it does the data provider. There are known issues with certain FCM's data and we have it well documented. Third, TM does have an adjustable tool used to only see certain size trades. So in TM you can only be alerted to any trade that trades with a lot size above 100 for example. It is called the Institutional Volume Filter. Fourth, TM is used in Prop Shops, by hedge funds and trade arcades to trade serious volume. With millions of trades executed so far and new customers coming on board daily from word of mouth referrals, the picture you paint is just a blatant attempt to smear other products to try and get yours going..which leads us to the issues with your business practices. If you are trying to get your product into the market place, it doesn't do you any good to try and put down others to bring yourself up. It just doesn't work that way. Let the market be the judge. The quickest way to get a bad reputation and sour anyone who may want to work with you is to try and primatively compete instead of creatively add value. After browsing your site, many factually based, negative design comments could be made about your product, but that isn't our style. Notice how this is the first time anyone working for or associated with TM has ever posted to Elite Trader. This is because any vendor coming in and talking about his or her product looks desparate..like petty advertising. You are the first one to cause people to call in and tell us that someone is BS'ing and incorrectly stating facts about TM. So hence the "TM BS Watcher" name & clarification of facts. I hope you will learn from this and we wish you good luck..no hard feelings. TM BS Watchers
Great post, but are you part of Trademaven in any way...? If so, it would be great to know who you are.... Just trying to keep it fair
Yes, TM BS Watcher is from TM...we stated that in the above post.. "Notice how this is the first time anyone working for or associated with TM has ever posted to Elite Trader." Anyways, we just want any public BB to be factually accurate. Otherwise, what is the point.. TM BS Watcher