Tams

that's one powerful machine. you did not say what type of trading do you do... daytrading covers a wide range of activities. what is your software? how many charts? how many indicators? what kind of analysis? all of these affect your computer purchasing decision.

do you use charts in your analysis?

. there are old traders and bold traders, but there are no old bold traders. .

don't bother you will learn more by reading this forum. and it is FREE !

IF... then... ELSE just like coding just like trading

No, I don't need a website or pdf... I mean, what is your understanding of this method that you want to replicate? without understanding of what you are doing, an indicator is just an indicator... wriggly lines on a chart that move in random directions.

can you give us a bit more background?

First, don't mean to pour cold water over your enthusiasm... trading is not a career. Don't expect this to be your career change. About tape reading... 1. you have to quantify "What is tape reading"? 2. Ninjatrader (C++) and MultiCharts (EasyLanguage) have been around for a long time, pretty well anything a newb wants to do has been asked and tried before. If you can imagine it, if you can visualize it, if you can quantify it, if you can articulate it, you can code it.

some food for thought: the exchange streams out a bunch of data for every trade... the time, the price, the volume... why do they bother to sent out the volume if that piece of data is not important, or useful, or of no consequences? looking at the time and price without consideration of volume in your analysis is like ordering a hamburger, throws out the meat and just eat the bun. my 2c

to become a good trader, you really have to keep an eye on a few statistics... MFE -- Maximum favorable excursion -- ie the largest paper profit in the trade MAE -- Maximum adverse excursion -- ie the largest paper loss in the trade if your MAE are consistently larger than your average win... you are heading for a wipe out. if your MFE are significantly larger than your average win... you are holding too long (ie hope for more that's not there. you need to work on your exit strategy) if your MAE = MFE... you need to work on your entry. more later... info on MAE/MFE http://www.traderslaboratory.com/forums/f208/looking-beyong-pnl-mae-mfe-6049.html

Google announcing its earnings after the market today. Today's run up from the low is in anticipation of the report. Is that a gospel? Hell no... it is just market talk. The market often behave erratically during earnings week... if the market was trending down in the morning, it can whip around in the afternoon for no good reasons. It is a dart's throw for all I know.

it is the pre-Google effect

you have to do some soul searching and ask yourself if you really know how to trade, or why to trade. nobody can do the assessment for you, you are the only one who can answer that question. to me, trading is like riding a bicycle. when you first learn to bike, you would fall a few times. but once you got up and can go around the block a few times, you are not supposed to fall anymore. At least not falling down for no good reason. e.g. you go speeding down a slope... and you fall. You know why you fall... the purpose of the ride was different from the ordinary ride. You used to ride the bike from point A to point B, maybe to the corner store for milk (transportation), or around the block 10 times (for exercise). now if you fell when you sped down a slope... you were not doing the transportation thing or the exercise thing anymore... you were looking for excitement, and you got it. there is a purpose to trading. It is different to everybody. some trade because they lost their job. some trade because that's their living. some trade because they like to gamble. some trade because they are bored. some trade... because they like the excitement. find your purpose... and enjoy the ride.

this is the earnings week... throw a dart, any analysis/prediction is going to hit something, miss something. .

you can get ELCOLLECTIONS right here at Traderslaboratory: http://www.traderslaboratory.com/forums/f46/collections-easylanguage-5929.html

The 4-step hierarchical learning model that formed the basic building blocks of every skill -- unconscious incompetence (the focus of some of the discussion in this thread) -- conscious incompetence (where you'd all like those underskilled, unaware traders to be) -- conscious comptence (the person has to 'work' at building and maintaining the competency) -- unconscious competence (the competence just 'happens', the skill sets are ingrained, which allows the person to move on to higher order conscious incompetencies) When you arrived at level 4, everything seems simple, orderly, and uncomplicated... and you wonder why people cannot see through the simple things the same way you do.

What "appears" to you is often not what it was... the are many academic papers in this subject... a search in university websites will give you plenty of late night reading material.

.......... another perspective .

that's why in a trendy market (esp a bull market), every idiot is a genius, ...and every indicator is a grail.

I would discourage you to proceed... on a psychological/conceptual/mental/mechanical perspective, options is at one end of the trading spectrum, and trading futures is at the extreme opposite end of the spectrum. Why ruin a good life?

what is four-plex screen?

why do you want to only scan it every X minutes? why not scan it continuously?

I mean, do you actually believe there are substance to your analysis ?

can you really trade from these info? or are they merely promotional fillers?