tape reading

Discussion in 'Professional Trading' started by darren, Dec 14, 2007.

  1. xiaodre

    xiaodre

    Just dld DBPhoenix's book. Thanks for the heads up!
     
    #11     Dec 14, 2007
  2. sorry, forgot to mention this one:

    tom williams's master the market
     
    #12     Dec 15, 2007
  3. xiaodre

    xiaodre

    DBPhoenix has kindly agreed to let me post a preview of his ebook - so here it is.

    I recommend his posts here as well for some nice bedtime reading.
     
    #13     Dec 16, 2007
  4. mokwit

    mokwit

    Wycckoff is the only book I know of that describes in any detail (at all) the old style tape reading. Ticker Technique the art of Tape Reading O.D. Foster is not going to give you the down and dirty on reading the tape but it is a good book on general market craft.

    My tape reading is operating in an emerging market and looking for activity in previousy quiet stocks or something that should not be there. Even if you know exactly how a stock is worked, knowing where we are in that process is difficult, at least for me. there are people who trade this way - the key, as per Wyckoff, is to immediately sell/cut loss when momentum stalls. I use the tape to alert me to the beginning of a breakout and look to ride a longer term move i.e 2-300% over 1-16 weeks. The chart has to confirm the tape Look for Maverick74's thread on NYSE tape reading but note he no longer trades this way, neither did Wyckoff or Livermore as they gained experience.
     
    #14     Dec 16, 2007
  5. mokwit

    mokwit


    Agree, this is one of the better books uot there. Concentrate more on where his cynicism appears than on the VSA he is vending.
     
    #15     Dec 16, 2007
  6. Great book, I have it. Master the Markets from Tom Williams is superb too. You can get the original from him, which is poorly edited, but apparently contains info omitted in the Master the Markets. Start following this thread Sebastian is kind enough to donate his time and he is one of the best, taught years ago by Tom Williams himself. I have been studying tape reading for the last 6 weeks and it has improved my trading quite a bit. You can do it the old fashioned way like Wyckoff did reading time and sales, ticker tape back then, or you can do it with price and volume, which I prefer. DB phoenix is active on trade2win dot com, he just got tired of the flame war BS on this forum. A great person he is.

    Start here with VSA trader aka Sebastian's thread http://elitetrader.com/vb/showthread.php?s=&threadid=108364&highlight=VSA+trader

    Here is the link to Williams' original book http://www.tradetowin.com/default/intro.php
     
    #16     Dec 16, 2007
  7. Another great tape reader, whom doesn't get the recognition he deserves is Hank Pruden. Google him.
     
    #17     Dec 16, 2007
  8. Maverick74

    Maverick74

  9. xiaodre

    xiaodre

    Oh, and just for the record (it is posted in other threads here as well), here is Wykoff's book in pdf.
     
    #19     Dec 16, 2007
  10. lindq

    lindq

    There is no better book on tape reading, and none better on short term trading in general.

    If you make particular note of the information on buying capitulation and selling euphoria - and put it into practice - this is all you will need to be a successful trader.
     
    #20     Dec 16, 2007