gcabrera

I agree with filtering the tape. I use two reconstructed tapes in ES One showing all trades. Ahother showing trades above 300 contracts, with block trades above 500. At least you should use this one. If you want master DS, I think it would be helpful to use summary tape, not for reading it but for getting the alerts it has.. iceberg, Price Delta Divergence and Large Quantity. Seasons Greetings

No I just use reconstructed tape and summary tape. that is enough for me

you can find it at jigsawtrading.com Take care

I guess some people could find this video interesting Is It Bots Or The Exchange Engine - PriceActionRoom's library

Today I just saw the market going high, while two big lot orders appeared. First a 1000+ short, so I went short too. Then one tick higher, another big sell of 800+, so it gave me the confidence that price was about to fall, which happened very quickly with more sellers adding to the fall. My targets are 6 and 8 ticks, but I decided to take 5 ticks in the first one because I saw big buyers entering and then I saw a lot of sellers being absorbed by the passive buyers so I decided to get out before the price started to go up, which actually happened later. That was all for the day.

I attach a secuence of charts showing what I did today. For my style of being a contrarian, the bundled times and sales works fine. Even I was able to watch the big buyers continuing the trend. I missed some trades there because I wanted price to make the last push to hit a limit order and that left me out ot the trade. The last trade I did not hesitated and entered at the same price (market) that the big seller of 1000s did. Unfortunately, hesitated very soon :doh: and lost one tick. It actually worked. Take care everybody

Learning to use this indicator A big lot 800+ contracts at today open made it go back down. (ts1) Then it broke to the upside with a lot of buyers and resistance or taking profits at the end. (ts2). I placed an elipse at that point just to see how it moved later. Went back down to restest open just to start pushing high again.ts3. I see that my dots and numbers in the chart are just big limit orders that big market orders have filled.

Steve: I guess you are correct.... I am a total stranger with very few post claiming that going to some webpage your trading could change dramatically. I guess I am a extremelly naive person.... Well, let me introduce myself and tell you and others reading this, why I did this: My name is Gerardo Cabrera, I am 50, software designer by accident, mechanical engineer as profession. I live in a small country named El Salvador, Central America, that fits 500 times in the US. My first tongue is Spanish so please excuse my spelling or redaction. I started watching the markets after a scammer got me in love with Options in 2003, just to loose some money. And some many more scammers got in my way to rip some money and make me donate some more to the market. I am a very persistent person and very dedicated to perform well at what I do. So I kept making indicators, some people approached me to program some simple stuff. but nothing worked with indicators. Until I discover the times and sales..... unfortunatelly, under Interactive Brokers data feed, you know what I mean.... super bundled trades. Took a lot of time to discover that. Well, I have a blog.... Trader Gerry where I posted my trades. Some of them I have posted as a blog here too, you can check that. You can see my charts and notice I trade live, if you know about the difference in the DOM color..... I guess you can not show the Dom in grey color if you are trading sim, correct me if I am wrong. And that is tha case of the charts I took from the video of Joel Parker Video, they show grey color in the DOM... I guess they are live trades. Well, the dots and numbers you see in the chart are the big lot trades that are being taken. I asked for that indicator to a programmer at Integrity Traders(Dan), and felt so grateful with the programmer that I decided to tell about it to everyone I know, including in the forums. Just wanted to help Dan sell more indicators since I think he is very talented guy programming and such a nice person. With Joel Parker of price action room, I took a 10 day workshop in November last year, about tape reading and actually learned a lot and have continued learning from my observations of the times and sales, I have to admit it is not easy... I guess I never told it was easy.... and Joel is going to tell you that it is not easy too. Much depends on yourself too. At that time he showed us this bundled times and sales indicator and said it being develeped by Pete, one of his students that happens to be a programmer. It was supposed to be ready by January 2011, but it is going out until this month. Again, I feel so grateful with Joel and Pete, that I decided to tell everyone about it. Naive???? I guess so, at least I should understand that in this business, there are more scammers than honest people. What is worst, I don´t have the indicator in my charts yet....but I saw it working live and made the comparisons with my big lots dot indicator and understood that I was seing big lots being hit as limit orders in my charts, not the actual big lot market order that hit that limit big order. I got interested in tape reading after reading No B.S.Daytrading, which seems to be a very honest and cheap book too. I defended that book in various forums and some people send me messages asking if I could send them the book and video as a violation of the author copyright .... and guess what I said: I can´t. It is only $40, please buy the book..... I can´t say I understand everthing that happens viewing the tape, but It is my expectancy to combine this new presentation of it, with my previous experience to help me start taking off from a point of actually 'keeping my money' to 'making money consistently', as I have always expected from this businnes of trading. Best regards and apologies for taking so much of your time. Gerardo

Thanks for your opinions guys. The guy who sells this indicators includes enough instruction material and live trading so you can learn how to use it and maybe complement your own strategy. I just wanted everybody to know about it. I don´t make a dime of it and enough trouble I had to upload the charts. Take good care

Let´s see if this links work for the charts https://rapidshare.com/files/2624918513/Joel_102_lot_short.png https://rapidshare.com/files/978590407/joel_25_lot_first_target.png

How has he done it? I guess he acummulated the trades in the same timestamp, maybe going under a second timeframe. I saw the indicator working in a presentation last week and seemed to work well. It was made in Ninja Trader. I will receive the indicator next week and can post some charts then. I have taken some snapshots of a video of live trading of Joel. The first chart shows a trade of 102 lot short. The second one shows taking profit on 25 contracts as firts target. Ninja Trader shows all the limit orders that the 102 trade hit and also the ones on the first 25 contracts. That is what the tape shows now since CME changed the reporting. Also in both pictures you can see the new Times and Sales indicator bundling the big lots orders again. Looking for an explanation on how this has been done, I found this interesting thread in another forum. CME Unbundling - NeoTicker Forums Hope the charts are shown here and someone finds them useful

I use CQG and have market internals with it (NYSE -TICK) in Ninja Trader. If someone is interested in learning from a very honest guy about tape reading, I recommend you visit priceactionroom website of Joel Parker. One of his members has made a times and sales indicator that bundles the big orders again, the ones split by the big traders and the ones that CME does not report as a big trade anymore after October 2009 (If I remember correctly). Good trading

Nice Video: Unfortunatelly, since October 2009, all the big trades that you see in the tape are unbundled, which means that if a big trader hits market buy of 50 contracts, you don´t see those 50 contracts on the tape but all the sellers orders that those 50 contract order filled In the price action room of Joel Parker, you can find honest and complete information on how to read the tape, plus a tape indicator that shows the bundled trades again, helping you see who is in control. Hope you find it usefull.