OrderFlowDashPro's AlphaReveal gives traders unprecedented insight into the order flow and order book. Tape readers, like myself, have claimed that reading the tape gives them an intimate feel of the market that we find extremely valuable for making trade decisions. Most people can see the value in this and the logic. But, some very skeptical people might ask: Is it all hocus pocus?
No, the logic is very sound. Our software gives traders greater insights into the dynamics that impact the market. It isn't astrology. The data AlphaReveal surfaces comes directly from the market. It comes directly from people placing trades and orders. My other field of focus is programming. Programming involves coming up with an algorithm or step-by-step process for completing some action. Sometimes a program won't work as expected and that's when programmers use debugging tools to dive down deep and see what the code is doing on a line-by-line basis. By analogy our software allows traders to see what's happening underneath the charts which can lead to new insights.
As traders, we are agnostic to the meaning of the data. It is our job to derive that meaning. That is important and something we stress -- that other vendors trivialize. Tape reading isn't trivial. For example, intense buying pressure yesterday was met with large limit order traders taking the other side. This created high volume nodes that the market rejected. Often, the market will catch fire above a pivot high as stops are run. That's another pattern. During certain kinds of markets, those stops runs mark the highs or lows of the day. In other markets, they lead to continuation.
Elite trading of any kind is difficult to achieve and even more difficult to maintain. In order to achieve elite results trading the tape then you must develop yourself to an elite level. But, even non super human traders can find great value in our software! We find the problem is everyone wants to start at the elite level. Some also have misconceptions about tape reading. You can read the tape and place 40 trades per day or you can read the tape and place a couple trades per day or less.