Tapereading

[RK_trader]

Hi

Any tapereading traders, can you please suggest what to change the default properties of T&S windows, so that it gives good visual signs. Something like red for aggressive selling and green for aggressive buying.

Also can you please suggest good resources for tapereading patterns.

Are there any "pace indicators" based on tapereading and how fast the tape moves?

Thanks
RK

[NinjaTrader_Dierk]

You would need to play with Right click->Properties on the T&S window. You also may scan the list of available indicators (Chart->Right click->Indicators). Apart from that there is no "tape reading" support.

[RK_trader]

Hi Dierk,

So, there is no official support for tapereading. I am aware of these properties when one right-clicks on T&S.

I was looking to see if any fellow Ninja traders can post their suggestions on changing these properties values on T&S window so that it gives any visual patterns. And was also looking to see if anyone can point me to any resources or any patterns in general on tapereading.

Thanks
RK

[NinjaTrader_Dierk]

May be the community can contribute...

[KBJ]

What exactly is tapereading?

[NinjaTrader_Dierk]

You probably have seen on some TV shows where the current prices of stocks move like a "tape" at the bottom or top of the screen. Some exchanges provide the same form of display on their trading floor.

Any more info from RK_trader?

[NinjaTrader_Josh]

Tape reading refers back to the good ole days of stock trading when you would sit at home with one of those ticker machines that spit out prices constantly on a ticker tape. Basically you are just trying to get a feel for the support, resistance, and volatility of the market and you trade accordingly.

[KBJ]

Dierk & Josh,

Thanks.

That's kind of what I thought it was, but I figured no one would be using that nowadays.

Sounds like quite a skill (but not one that I want to try.)

KBJ

[traderandreas]

Hi,
Does anyone here know how to show the tape in ninja trader.
thanks

[MicroAl]

One method is to have two time and sales windows one showing all trades and the other restricting trades shown to say ten contracts and above.

You then watch the tape to find a bracket, ie you may find that prices are
jumping from up from 7010 to 7030 on the YM and back again. The theory is to buy at around 7010 and sell quickly a few points higher. Obviously you have to be very fast and have small comissions to do this.

Another method is to watch for a breakout from the top or bottom of the range. Ie many buys at the top showing up in the 10 contracts and above filter.

Anyway that is the theory, of course you are fighting computers nowadays!

To show Time and Sales, select File, Then New, Then Time and Sales.

[traderandreas]

Thanks for your reply MicroAl.

[paulchow2k]

This is a question for NinjaSupport/NT7 Developers,

I'm trading stocks/equities and I'm having issues with Time & Sales where:
1: ninjatrader reporting Incorrect T&S
2: Volume is also INCORRECT

attached is a screen capture from Ninja, Interactive Broker and Paritech Pulse in Australia. The stock is DXS in australia but I can use a number of them and the Time and Sales is still in correct.

I would suggest that this could also be a bug if anyone is using it on Futures but I'm not sure..

regards

Paul

Originally Posted by MicroAl

One method is to have two time and sales windows one showing all trades and the other restricting trades shown to say ten contracts and above.

You then watch the tape to find a bracket, ie you may find that prices are
jumping from up from 7010 to 7030 on the YM and back again. The theory is to buy at around 7010 and sell quickly a few points higher. Obviously you have to be very fast and have small comissions to do this.

Another method is to watch for a breakout from the top or bottom of the range. Ie many buys at the top showing up in the 10 contracts and above filter.

Anyway that is the theory, of course you are fighting computers nowadays!

To show Time and Sales, select File, Then New, Then Time and Sales.

[dandxg]

Paul I am not sure if you got your answer, but IB will never show, to my knowledge, the correct time and sales since they don't show all trades they show snapshot data.

[paulchow2k]

Originally Posted by dandxg

Paul I am not sure if you got your answer, but IB will never show, to my knowledge, the correct time and sales since they don't show all trades they show snapshot data.

Thanks mate,
I've just come to that conclusion now. The only thing I can do now is to ask/pay someone to develop a DDE/RTD that will back fill as my Paritech Pulse data provider offers me those data.

regards

paul

[luiokstate]

Well, If anyone is interested in Tape reading trading. www.schooloftrade.com is the place to see how the head trader do it live trading CL and Gold everyday. It has a two weeks free trial and you can see how this guy work his magic on Momentum and tape reading trading. I think he is pretty good and worth your time watching him execute his trades live.