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Tape Reading

mahavishnu: You said "I'm more of a tape reader than chart setup trader"

I do not know what tape reading is but I am guessing that it deserves its own thread so I have started this one in the hope that you will enlighten me.
the best book I found on tape reading was written by Richard Wychoff under a pseudonym

Tape reading i have found is not an exact science but can be done successfully for what happens is that you watch the price action and volume and if you concentrate enough you live eat breathe and feel the pressure building for in essence it is a mo-mo-go-go with strategy and is a strategy where instant gratification is required. Just my 2C worth
It's listed on the books page here (currently position #3) under the Technical Category. What surprises me is that there is another book (at position #2) called Studies in Tape Reading by Richard Wyckoff and then there is the one that you mentioned which is also alledgedly by him. Why would he write one book as himself and then another book on the same topic under a psuedonym. I'm not questioning that he did this I'm just wondering why he did it.
studies in tape reading the 2nd book you mention is signed by the author AKA Rollo tape
I think in the book I mentioned (Dont have it with me as currently in Las Vegas) does explain why he used the name
I see what you're saying. On closer inspection of the cover I see the "aka Rollo Tape" which I hadn't noticed before. You're giving some talks in Vegas at the moment aren't you?
yes DT. in LV day one 11 hours done still day 2 and 3 to go
am just now checking the DVD for the video will be quite an awesome clinic
i would like to learn how to tape read, but I don't want a book. is there anyone who could point me in the right direction
Originally posted by wldr316

i would like to learn how to tape read, but I don't want a book. is there anyone who could point me in the right direction

In the past few years "tape reading" has evolved into the field of study called "Order Flow Analysis" so that is where you will want to start your research of the topic. A new cottage industry of trading educators has sprouted up to support traders wanting to learn and use this technique.

I have studied the topic for several years myself, there is a lot we can learn from order flow analysis. By itself order flow is not a complete solution for trading, it can be a helpful way of looking at market behavior but is only going to be helpful on a consistent or repeatable basis if viewed in the context of the established and developing price structure.

Here is a good starting introduction and overview of the key order flow concepts... Peter Davies is one of the leaders in developing order flow concepts and advanced OF tools...

part 1:

part 2:

part 3: