Tape Reading

[bflesser]

G'day all,

Does anybody know a great resource where I can learn to trade with tape reading. I'm mostly interested in trading the ES.

Thankyou,
Bruce

[linus71]

You can find some good books at Amazon.com when you type that terminology into the search pane.
eg "Mastering the Trade" by John Carter is pretty good

[bflesser]

Tape reading

Thankyou for the idea linus.

I've recently put the "Bid Ask Analysis" study with no filter on 2 of my volume charts so I can see the amount of sellers or buyers on each candle as it happens. Amazingly it has helped me get some great early entries on trend reversal signals.

It's probably not your traditional tape reading, but it seems to be working just fine as it shows who is in control, buyers or sellers. This is the goal of tape reading, to jump on for the ride with those who are driving the market.

It's also a fantastic guide to show the near completion of each candle on my 1100 & 1500 volume charts which I use as a guide for my entries also.


Bruce