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Old 15-10-2014, 03:54 PM
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Default Tape reading in Price action

hi

how to use Tape reading in Price action?
every price movement depends upon some order is placed at the some point of time.
how to derive that there is exactly a supply / demand area exist using tape reading?







NB:-@SC
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Last edited by nTP; 15-10-2014 at 04:41 PM.
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Old 15-10-2014, 06:07 PM
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Originally Posted by nTuple View Post
hi

how to use Tape reading in Price action?
every price movement depends upon some order is placed at the some point of time.
how to derive that there is exactly a supply / demand area exist using tape reading?

Supply/demand exists everywhere the price has moved.

There is absolutely no way of knowing if an order was initiated by buyer (demand) or seller (supply). Footprint charts use a very foolish (& incorrect) analogy according to which if an order was executed at the offer then it was an aggressive buyer trying to lift the offer & if trade occurred at bid then vice versa. FP are just noisy way of arranging data created by an algorithm which works on sparse assumptions.

There is a huge retail community of traders who have heavily invested into this concept considering it to be the next Big thing, as marketed by Market Delta.

FP charts have a very small range (a few ticks) prediction capacity based on Cumm. Delta, but in my opinion a DOM would help more with lesser computer resource. For absorption/exhaustion, volume bars give a better perspective. For me, market statistics are the best way to gauge the supply/demand in futures market.

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Old 15-10-2014, 08:13 PM
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@chan

Any book reference in this context ?
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Old 15-10-2014, 10:15 PM
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Originally Posted by nTuple View Post
@chan

Any book reference in this context ?

Not Much. A few blogs & threads on forums can get you started. Once you get the line of thought, there is tons to innovate & make your own edge from it.
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Old 16-10-2014, 12:15 AM
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Hi



Originally Posted by chan View Post
Not Much. A few blogs & threads on forums can get you started. Once you get the line of thought, there is tons to innovate & make your own edge from it.

Understanding Time and Sales -- by Jose Casanova.
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Old 18-10-2014, 08:54 PM
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@chan


Davis weis’s book “Trades about to Happen” (never read ; mila nehi )
hxxp://karthikmarar.blogspot.in/2013/06/volume-wave.html
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Old 18-10-2014, 10:55 PM
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First, export data from trade terminal and study it trade by trade while keeping a 1 min chart on the side to correlate it with.

Second, read books only after you have got a firm grasp on the first concept.

Third, profit.
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Old 19-10-2014, 09:29 AM
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Originally Posted by JJ View Post
First, export data from trade terminal and study it trade by trade while keeping a 1 min chart on the side to correlate it with.

Second, read books only after you have got a firm grasp on the first concept.

Third, profit.

Can you please recommend any particular book/books which you think could be helpful?
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Old 19-10-2014, 12:39 PM
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Originally Posted by JJ View Post
First, export data from trade terminal and study it trade by trade while keeping a 1 min chart on the side to correlate it with.

Second, read books only after you have got a firm grasp on the first concept.

Third, profit.

need Level 2 / level 3 data
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Last edited by nTP; 19-10-2014 at 04:41 PM.
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Old 24-10-2014, 07:39 PM
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Hi

This is the most secret (might be very effective / ineffective) way of trading which is kept remains secret in books blogs etc
.Most of the books contains very basic info as it is mostly based on intuitions.And books certainly have very bad reviews.It is good way to judge the market.And it can be used with a good existing methods/indics.(The books Understanding Time and Sales -- by Jose Casanova. suggested to use it with existing method/indic so i am repeating it. )
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Disclaimer: I am not a Research Analyst and not registered with any regulating authority. All posts are for educational purpose only.

Consider us a dumb -dumble guy in this analysis, any type of real time example will be quick-learn approach.

Last edited by nTP; 24-10-2014 at 07:45 PM.
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