Record The Reading For Timing

Record the reading or the reading of every moment in a stock transaction is widely used by traders, institutional traders and protectionists.

It can help to see in real time, the current consensus on a stock.

Record the reading is to read the order books containing records of current bid and ask prices and their respective sizes.

Here is an example of a backlog

66 9737 9 9738

55 9736 11 9739

40 9735 35 9740

52 9734 40 9741

38 9733 16 9742

9737 is the best offer, 66 is that the size of the offer, ask for 9738 is the best, 9 is the whole question to ask.

Tape Reading is a great experience and practice to watch carefully every day to live in backlog for months and years.

It shows the price at which buyers are willing to buy the shares and the sellers are willing to sell.

The reading of the tape is difficult because the order flow is constantly evolving, more equipment is a liquid, the higher the price to ask prices and sizes are changing rapidly.

Many traders will tell you that not enough resources in the network or even books that talk about the bands playing, what is true and that is because the tape must be read by the learning experience.

But I found a nice article in the CBOT website that showcases the band reading, here's a link.

I found this a useful resource especially for beginners.