Tape reading
- Thread starter susheel04
- Start date
Yes Alpha, something like that. See in the good old days, stock quotations were sent by radio, morse code, and a huge machine called RTTY - Radio Tele Typewriter and this machine used to spew out these quotes which were printed on a paper in a continuous manner just like the ticker on CNBC.
There were professional tape readers employed by brokers, and their job was to 'read' the tape, ie interprete the changing prices and volume, and act accordingly.
You can try to do the same: Tune into CNBC, cover your TV with a newspaper in such a way that only the ticker is visible. Turn off the volume.
Decide a time frame, say 5 minutes, and note down the price and volume for a stock of your choice after every five minutes, and in a coupla days of doing this you will get the hang. Do it for a year and you will be the Jesse Livermore on this side of the planet!!! Hahaha!
I have done that with miserable results. LOL!
Enjoy!
ss
There were professional tape readers employed by brokers, and their job was to 'read' the tape, ie interprete the changing prices and volume, and act accordingly.
You can try to do the same: Tune into CNBC, cover your TV with a newspaper in such a way that only the ticker is visible. Turn off the volume.
Decide a time frame, say 5 minutes, and note down the price and volume for a stock of your choice after every five minutes, and in a coupla days of doing this you will get the hang. Do it for a year and you will be the Jesse Livermore on this side of the planet!!! Hahaha!
I have done that with miserable results. LOL!
Enjoy!
ss
Last edited:
please send me at [email protected]
thanks
thanks
Could you plz send me the book at [email protected].
Thanx
Thanx
please send e book on tape reading at [email protected]
thanks in advance
thanks in advance
Would appreciate much if you please mail me at [email protected]
In simple words,
tape reading is watching continuously Price,Volume (and their fluctuations) of a scrip/scrips to infer a trend to trade.
The word tape came from ticker tapes which were nothing but the print-out's of the ticker tape machines(now obsolete).
tape reading only is not adequate, it is good to see it with the market depth.
Even this combination is not fool proof, as huge size bid/ask quantity is deliberately hidden and this is called the window dressing.(we can see only 5 best bid ask orders in market depth window).
Still tape reading is meticulously use by day traders(especially scalpers).
tape reading is watching continuously Price,Volume (and their fluctuations) of a scrip/scrips to infer a trend to trade.
The word tape came from ticker tapes which were nothing but the print-out's of the ticker tape machines(now obsolete).
tape reading only is not adequate, it is good to see it with the market depth.
Even this combination is not fool proof, as huge size bid/ask quantity is deliberately hidden and this is called the window dressing.(we can see only 5 best bid ask orders in market depth window).
Still tape reading is meticulously use by day traders(especially scalpers).
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