What's the difference between Tape Reading as was practiced by thumbing though ticker tape and TLA (Transaction Level Analysis)?
Well, looking down from an altitude of 30,000 feet, not much. As we get closer and closer to the raw, real-time data, quite a bit.
Reading the tape, at one time, could be done successfully by coordination between the human eye and the human hand.
Today, the enormity of the data load can't be thumbed through...it must be managed by very fast computers running software that is custom written to manage all of the world's electronic markets in real-time.
But many of the core concepts are still the same:
...I doubt it.
Greed, manipulation, inside knowledge, street smarts, contrarian notions and access to massive amounts of capital are still many of the core components of what is still referred to as Wall Street.
The game continues to evolve, and we as market participants must work smart and work hard to leverage the enormous technical resources available today to maintain enough of a statistical edge and trading advantage in order to remain perched with the winners in this amazing game we call Trading.
Hopefully, the current drive towards TLA and the discussions within this blog will assist in giving you this edge.
Well, looking down from an altitude of 30,000 feet, not much. As we get closer and closer to the raw, real-time data, quite a bit.
Reading the tape, at one time, could be done successfully by coordination between the human eye and the human hand.
Today, the enormity of the data load can't be thumbed through...it must be managed by very fast computers running software that is custom written to manage all of the world's electronic markets in real-time.
But many of the core concepts are still the same:
- Is size going with the trend?
- Is there a rhythm in the trading action as price approaches areas where clusters of stop orders are bound to parked?
- When 'everybody knows' that the market must go down again because of 'ABC Economic Data' are the big players gaming for a short squeeze?
...I doubt it.
Greed, manipulation, inside knowledge, street smarts, contrarian notions and access to massive amounts of capital are still many of the core components of what is still referred to as Wall Street.
The game continues to evolve, and we as market participants must work smart and work hard to leverage the enormous technical resources available today to maintain enough of a statistical edge and trading advantage in order to remain perched with the winners in this amazing game we call Trading.
Hopefully, the current drive towards TLA and the discussions within this blog will assist in giving you this edge.
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