A new Life, A new Career, A new Dream - I am a Trader

[jagankris]

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Dear Jagankris,

Can you explain in simple terms, how price is changing direction? and why ?
I know you can tell me very detailed. But my understanding is very limited and still a stupid.

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I know you can tell me very detailed. But my understanding is very limited and still a stupid. - Keep it simple and Stupid.
So you are already a great trader.

DOM - Depth of Market/Market watch
Un fortunately is shown only the top 5 bid and ask.
How it used for trading ?
Tape reading.Just by observing the DOM some traders are able to trade in the direction of the markets.
Taiki - If you happen to join capstone.
If you have your system then its fine else this is how they will ask you to trade.
The DOM indian markets are not enough for us.
Level 2 data is required - I am not sure how depth it or what extra details it could show I am not sure.

Can you explain in simple terms, how price is changing direction?

In simple terms in theory When there are no Buyers or demand is less price falls,when there are no sellers ie demand is high price goes up.

But I believe Price don't move but moved.

Last week when Fed reports came 3.5% down in a single day.
Now in 2 days again 300 points rally.
But I believe that the concept of Demand and Supply is an artificial one at least for Stock markets.

For commodities and currencies it makes sense.

The picture you mentioned is not available here for us to trade Nifty.
But since we are are already told that this how supply and demand are perceived .

So we have only top 5 bid asks - how to read that ???
A great tape reader like - Jesse Lauriston Livermore
Putting the ball in your court .

 

[Taiki]

Just double click on the scrip you need to view market depth in
NSE NOW. You will get it (depth of market).

DOM - Depth of Market/Market watch
Un fortunately is shown only the top 5 bid and ask.
How it used for trading ?
Tape reading.Just by observing the DOM some traders are able to trade in the direction of the markets.
Taiki - If you happen to join capstone.
If you have your system then its fine else this is how they will ask you to trade.
The DOM indian markets are not enough for us.
Level 2 data is required - I am not sure how depth it or what extra details it could show I am not sure.

Can you explain in simple terms, how price is changing direction?

In simple terms in theory When there are no Buyers or demand is less price falls,when there are no sellers ie demand is high price goes up.

But I believe Price don't move but moved.

Last week when Fed reports came 3.5% down in a single day.
Now in 2 days again 300 points rally.
But I believe that the concept of Demand and Supply is an artificial one at least for Stock markets.

For commodities and currencies it makes sense.

The picture you mentioned is not available here for us to trade Nifty.
But since we are are already told that this how supply and demand are perceived .

So we have only top 5 bid asks - how to read that ???
A great tape reader like - Jesse Lauriston Livermore
Putting the ball in your court .

Yes Veera and Jagan bro,

When I saw the market depth for any scrip on NOW/Ventura's pointer it only shows the top 5 bid/ask price. And the same question is in my mind too, how can we use this data to check market's bias, support and resistance level. How this small window can help us in making the odd in our favour ?

And sometimes very large order appear on the 1st bid, but they get change in no time too. Do not know if that number of quantity has been actually traded at the price or the client modified the order after putting it. Or if it is just to create an impression of support and buying pressure ??

Yes Jagan bhai, I read about capstone few days back, and got to know about their tape reading trading. I was taking review of some former employee/trainee of Capstone. And they were too uncomfortable with tape reading trading as they were looking for some chart and candles before.

Regards
Taiki

 

[jagankris]

hI
i HAVE SEEN GOOD TRADERS LOOSING LOTS OF MONEY
When they used volume based trend decoders using softwares costing lakhs of rupees.
MORAL of the story

LEARN from others experience instead of trying to get one by yourself.

Can you pls let us know the name of the S/W and will fade that system to make millions

 

[augubhai]

So we have only top 5 bid asks - how to read that ???
A great tape reader like - Jesse Lauriston Livermore

Remember, Livermore did not even have those 5 bid/ask. He traded with just a ticker - the kind that you find scrolling below CNBC and other news channels.

 

[403.forbidden]

I know you can tell me very detailed. But my understanding is very limited and still a stupid. - Keep it simple and Stupid.
So you are already a great trader.

>> No,not a great trader. But I have been following the footsteps of the machines. It attracted me a lot, because of my long time experience with computational tools.,etc. I have already shared some charts, to some of my friends,to prove.

DOM - Depth of Market/Market watch
Un fortunately is shown only the top 5 bid and ask.
How it used for trading ?

Tape reading.Just by observing the DOM some traders are able to trade in the direction of the markets.

>> We can use tape reading for several purposes. I used this to exit trades.

Taiki - If you happen to join capstone.

If you have your system then its fine else this is how they will ask you to trade.The DOM indian markets are not enough for us.

>> If we have practice, then we can use Time and Sales data, GFDL is providing live TS data. I don't have any business contacts with GFDL

>> Yes,I am building my own logical system to day trade using daily charts,along with my friends,to trade in the direction of the machines and not going to automate for sure.

Level 2 data is required - I am not sure how depth it or what extra details it could show I am not sure.

>> No need to have Level 2 data at all. Subscribe for eSignal and get Market Delta. Gain some practice.
You'll understand. But you need lot of patience. If your personality does not accept that, then you can call me an idiot

Can you explain in simple terms, how price is changing direction?

In simple terms in theory When there are no Buyers or demand is less price falls,when there are no sellers ie demand is high price goes up.

But I believe Price don't move but moved.Last week when Fed reports came 3.5% down in a single day.
Now in 2 days again 300 points rally.But I believe that the concept of Demand and Supply is an artificial one at least for Stock markets.

>> Yeah, that is exactly right. Very artificial. All traps. Machine made moves. So many times helped me to exit early before a deep blood bath. Since last year, I have been tracking down all their moves

For commodities and currencies it makes sense.
The picture you mentioned is not available here for us to trade Nifty.

>>eSignal and Market Delta, with some extra efforts and practice, you can understand easily. I never traded NIFTY.

But since we are are already told that this how supply and demand are perceived .

So we have only top 5 bid asks - how to read that ???
A great tape reader like - Jesse Lauriston Livermore

>> If you watch TS data for 6 months, then you would be able to trade top 5 bid and asks.

Putting the ball in your court .

>>Sorry Taiki, for the distraction.Please,don't worry about all these things.

 

[403.forbidden]

Dear jagankris,

Please visit http://poweryourinvestment.com and there is a thread by SuperTrader.
He explained the nook and corner of TS data,but with eSignal and Market Delta.

Hope that helps,for sure.
======================

 

[jagankris]

Fantastic Forbidden,

• We can use tape reading for several purposes. I used this to exit trades.
  
• If we have practice, then we can use Time and Sales data, GFDL is providing live TS data. I don't have any business contacts with GFDL
  
• Yes,I am building my own logical system to day trade using daily charts,along with my friends,to trade in the direction of the machines and not going to automate for sure.
  
• Subscribe for eSignal and get Market Delta. Gain some practice.
  
• If you watch TS data for 6 months, then you would be able to trade top 5 bid and asks.

Thanks for the inputs.
I will check SuperTrader's post also.
Few Queries Forbidden

1.Are you using the licensed version of MD or Cracked one ?
If cracked - please share it.

2.How is GFDL data vs E-signal data ?
They both are real ticks or e-signal is the best.

3.If you watch TS data for 6 months, then you would be able to trade top 5 bid and asks.
Can you post sample T&S data sample ?

4.Yes,I am building my own logical system to day trade using daily charts.

Could you please explain a bit more here.
Is it not possible to trade in the direction of the tape intraday with out taking the reference of the history ?

5.Why not automate it ?
TIA.

 

[jagankris]

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[Gaur_Krishna]

Yes XRTrader1, this is precisely what I too want to know.

Regards,
Gaur_Krishna

RBI rate cuts, inflation,GDP data announcement,
Finance minister announcement effect our markets. Any place to find such events ?

 

[403.forbidden]

Fantastic Forbidden,

• We can use tape reading for several purposes. I used this to exit trades.
  
• If we have practice, then we can use Time and Sales data, GFDL is providing live TS data. I don't have any business contacts with GFDL
  
• Yes,I am building my own logical system to day trade using daily charts,along with my friends,to trade in the direction of the machines and not going to automate for sure.
  
• Subscribe for eSignal and get Market Delta. Gain some practice.
  
• If you watch TS data for 6 months, then you would be able to trade top 5 bid and asks.

Thanks for the inputs.
I will check SuperTrader's post also.
Few Queries Forbidden

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Dear Jagankris,

1.Are you using the licensed version of MD or Cracked one ?
If cracked - please share it.

>> I was using version 10.3.14 - cracked version with eSignal - 2 months.
To understand about VP,FP,TS. My friend gave me the latest crack 10.4 or 10.5, that screwed the whole thing. Again reinstalled 10.3.14. Got some issues. Changed the username of the laptop and reinstalled. Few other issues with the ticks. So subscribed and used that for four months,with eSignal. And stopped. Not much helpful for me or
I don't know how to use efficiently. If I need it, then I would subscribe again. You can get 10.3.14 across the internet.

2.How is GFDL data vs E-signal data ?
They both are real ticks or e-signal is the best.

>>In abroad, people don't prefer eSignal. So many different views. In India,we got no other options(except extracting from ODIN). Still I have a doubt, that we are really getting the original ticks from eSignal as the same as from ODIN. GFDL is not tick.

3.If you watch TS data for 6 months, then you would be able to trade top 5 bid and asks. Can you post sample T&S data sample ?

>>Yes,I took it in six months time. No,I am not using eSignal now and MD too,but Amibroker.I am not comfortable with NT and MC. Either MD or AB,at this moment I prefer AB. Figured out somehow to get, what I wanted in Amibroker., at least close. Testing with MATLAB and another private software,for which I have a valid (only for research and education) license.

>>If you want I can give you F3-NSF,G3-NSF data, which is Jan and Feb 2013., not all the futures. I have only few in AB and MD,but I have all the futures(ticks) exported from NT. You can import in MD. I used IBC,then GFDL,then eS,then GFDL,now extracting from ODIN(changed the broker twice just to have ODIN access,the first broker revamped his architecture,so could not extract the ticks from the XML),because I am working on daily bars.

4.Yes,I am building my own logical system to day trade using daily charts.
Could you please explain a bit more here. Is it not possible to trade in the direction of the tape intraday with out taking the reference of the history ?

>> Not now, for example, I can be able to extract 30% of a daily bar easily. I am trying to extract 60% consistently(if I trade),without touching my stop/low risk or only the selected days to trade(need to figure this out) .

>> I don't know whether that is possible or not. Why don't you throw some light ?

5.Why not automate it ?
TIA.

>> I am going to use less size, in day trading, but few scrips simultaneously,because it is very really challenging. Moreover,I know nothing about trading. Just two years old day trader.

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