LOL level 2 is just one way to read intraday price action. You think I don't knowwhat level 2 is about? I just don't need it for tape reading. Contrary to what you may think or say you CAN tape read the Nasdaq or NYSE the same way. I think it is you who doesn't know what tape reading is about. Since you seem to know so much on tape reading you give the calls instead of Steve and lets see how good you are??
Aight there buddy, I guess I could go into it but what's the point, you're just such a super trader in your head. There are key differences between how NYSE and Nasdaq trade, kinda like the key differences between a human open outcry system and a completely electronic system. With some basic observation skills, you just may see this in the charts.
If we apply the theory of psychological projection to our blunt friend with the pointy head, one might be led to the conclusion that he ridicules everyone elses trading because he cannot face his own failures, so he represses and projects outward, it's a classic case
I am not sure if you are serious about your initial question Trader28. But just because you knew what a print was gonna be by looking at 5 bid and 5 ask columns does not constitute tape reading. Tape reading is an art and basically (for NYSE stocks) you are looking at what side the specialist is on (buy or sell). Now you have to understand the rules as to when the specialist himself can buy and sell. As for what Time and Sales to use, well I guess they are all the same. I have used ILX , Esignal, AT Financial, and a few others. Good luck
Well perhaps I've found my calling, seemed very easy to me and I didn't have a single losing trade, I felt like that guy in Rainman counting cards "I'm a very good driver"
Trader28- I come here to ET to learn from others who are better than me or know more about something that I need to improve on and also to help out others who are seeking advice on how to be a better trader. This business is a never ending quest for improvement so there is no need to be arrogant. If you knew me at all you would know that I am never looking for my ego to be stroked. Yes, I am making good money trading (whether or not YOU believe it, that doesnt concern me), but I also know that things may change to the point where I will need to completely revamp what I am doing to maintain success. Szeven, thanks for the kind words, I hope you continue your success as you have made HUGE strides this year. Congrats. Steve
Thanks Hydro, trying to get better and better a little at a time. I've decided that Jan 1, I am going to really focus on learning how to become proficient in trading the SHO stocks. When things do change, I dont want to be left out to dry