FOREX TAPING READING - PIP, PIP, PIP

[TygerKrane]

I must say, my answer agrees with Niagara's answer.
Niagara's reply

Looks like, "ticks of a feather, flock together." That the method of this tape reading is to trade what current tick is, green=buy, red=sell.

Instead of going for 50-100 pips, one is trying to exploit a tendency for consecutive colored ticks to occur. So the target is to get three pips then get out.


TRO's post

That's simple, you're trading IN THE MOMENT, not in the past.

If you are driving down a new road and it starts to bend to the right, you automatically steer right.

If it starts to bend to the left, you automatically steer left.

So if you are trading and the price...

[oak2202]

please,how can i upload the software on mt4

[speed26]

Interesting (although short) thread.

Time and Sales, Bids and Offers.

People move markets. Bids/offers represent peoples interest and orders.

Trading in the 'now' refers to the fact that price has equal potential to move up as it does to move down, irrelevant of chart patterns and/or history.

You have a support below current price and resistance above price. As of right now, it will move either up or down. So reading tape refers to taking advantage of movement without concern for the past.

Orders, Volume and Manipulation from MM/Big traders.

All down to momentum. As soon as it stops, you get out. No thinking, no doubting. Next trade. Next momentum.

Just rambling lol