cipher4d

Good to see everybody discussing the LOA in regards to trading. Tingull, if you want more information that goes beyond "The secret" I suggest you check out Abraham Hicks teachings. The Secret is a nice introduction to the concept but it is limited by the ideas society currently finds "acceptable". Peace

I found this post on "Re: Chart Patterns: Reliable?" interesting and have nominated it accordingly for "Topic Of The Month May, 2009"

I don't know how soultrader trades. I was trying to point out how one would see the setup/clue he described using only the charts without the time&sales. Some people might enter short off that hint of weakness. I don't, I just consider it useful information.

I feel most would argue that to "Tape Read" one must look at the time&sales/DOM but in thread Zdo posted, Soultrader seems to discuss his tape reading setup as a visual indicator rather than a setup based on numbers/bidask size. "As price approach a key level, watch the tape carefully. What you are looking for is a quick price rejection on the tape. Preferably 1-3 prints of a certain price and then a quick rejection back down/up. For example, if my key price level is 12100 on the dow mini's, I want to see 1-3 prints of 12101 then a quick rejection back to 12099, 12098, 12097. etc..." - Soultrader This setup Soultrader talks about is something that can be viewed from any small timeframe OHLC/Candlestick chart. My point is that you might be tape reading even if you are not watching the prints and/or DOM. A trader friend of mine saw another trader see another trader use tape reading to make +60K a day. Heh