What's the point of tape reading?

Discussion in 'Trading' started by wxytrader, Nov 5, 2023.

  1. Aisone

    Aisone

    I don't think you understand what velocity and acceleration is. Without time, there is none.

    Velocity = distance/time

    Acceleration is the rate of change of velocity.

    Whether it is change in range bars over time, or price movement over time, it is still calculated by using time.
     
    Last edited: Nov 9, 2023
    #41     Nov 9, 2023
    M.W. likes this.
  2. M.W.

    M.W.

    Agree yet you can replace time with a derivative of time such as the duration between number of trades executed, in the end it all comes back to time.

     
    #42     Nov 9, 2023
  3. its not linear until it is and then it's not. How does reading charts or tickers prepare you predatory algos that make it up as they go along. Sure there are "levels" but they sure didn't matter the last 10 days. This is new because the game is constantly changing.
     
    #43     Nov 11, 2023
  4. Specterx

    Specterx

    Talking about tape reading in 2023 is like a guy who read Livermore positing that a Head n’ Shoulders in AAPL represents insiders preparing for a bear raid, and actually thinking they are savvy/ahead of the game rather than decades out of date.
     
    #44     Nov 11, 2023
    Sprout and M.W. like this.
  5. M.W.

    M.W.

    Not everyone has the ability to think and desire to keep informed of changes in life.

     
    #45     Nov 11, 2023
  6. jokepie

    jokepie

    With the use of Algorithms by ALL Sophisticated Market Participants (including Market Makers) with tape reading, you can ONLY spot a BIG order by a Retail Trader with direct exchange excess. BIG is relative, so go figure.
    Just because you spot a big order and how it gets filled - Is in my opinion no confirmation for a long-term (i.e over a few minutes) trend. Effect may be momentary, that's all.
     
    #46     Nov 11, 2023
  7. Price has been in a triangle. Algos or not price action is determined not random.

    I should start another topic about this, but you can find countless youtube vids on false breakouts and how to spot them lol...some magic indicator soup or whatever. This would be coined a false break out when it continues on to ((5)), but there is no such thing as false break outs..there are only impulse and corrective waves that must fulfill their extensions.

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    #47     Nov 12, 2023