Tape Reading
I'm relatively new to the forex, but with some experience (few months of trading). Can you advise or tell what do you think about Tape Reading? And if it is a good analysis technique, what are the best resources out there?
An article from TASC about tape reading trading :trading_by_tape_reading.pdf
Found this one to (by Linda Bradford Raschke) :raschke-linda_bradford_raschke_-_tape_reading.pdf
As I can see it's a lot about experience and intuition coming from it?
As I can see it's a lot about experience and intuition coming from it?
Here is one serious book about it (405 pages) :
It is intended for investors as well as for traders.
It has been planned and prepared for those who desire to safeguard their investment capital against, and to make money from, the fluctuations in the priced of stocks dealt in on the New York Stock Exchange or any other organized exchange.
It is applicable as well to bonds, preferred stocks and the leading commodity markets.
Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight.
If he does not, he is gambling.
Your purpose should be to become intelligent, scientific and successful investor and trader.
This Method is for those who have had either little or no experience operating in the stock market, or for those who have had much experience but who have never been shown the real rules of the game.
Out of the very limited number who really understand the inner workings of the stock market, practically no one has been willing to show the public the real inside. I believe it is time for someone to step forward and do this.
The appalling losses, in securities, suffered annually by millions of people, are enough to make the angels weep.
These losses are the direct result of stock market plunging by people, most of whom do not realize what they are risking, and who have an amazingly small knowledge of the market.But have you specifically tried it? I really want to hear some opinions before immersing myself into hundreds of pages..
But have you specifically tried it? I really want to hear some opinions before immersing myself into hundreds of pages..
If we take this quote from Linda Raschke :
then we all tried it. These books are just adding information to what we did so far without knowing what is the name of it
More or less, tape reading trading seems to be price action trading
More or less, tape reading trading seems to be price action trading
So it's naked trading and you are making decision depending on how you "feel" about the market at the moment?
So it's naked trading and you are making decision depending on how you "feel" about the market at the moment?
As I see from those documents, yes.
"Trading naked" 
A video on tape reading :
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
I'm relatively new to the forex, but with some experience (few months of trading). Can you advise or tell what do you think about Tape Reading? And if it is a good analysis technique, what are the best resources out there?