Today few transaction based on tape reading, which I made last week. I’ve been using Tape Readng since 2008-2009. I think it is one of the best strategy for day trading. Of course I also use technical analysis, but most of the time decision about opening position depends on what I see on quotes/tas.
Below you can find day trading video on which I open few positions on 3 different stocks. .
Day trading video – tape reading
Here you will find 3 transaction on ETE, OCLR, SYRG. One of this transaction is typical short on breakdown. Another two it is result of tape reading strategy. What’s that? It is simple – you watch Level II and Time and Sales to make decision about opening long/short position.
Please add comment below if you have any question regarding to why I open these positions.
You will hear about it in video below (to see subtitles just enable english subtitles on video below):