Pace of the Tape technical indicator for day trading futures contracts

Pace of Tape Indicator

Hi guys,

Speed, in my opinion, is the most important factor in determining market sentiment.

(read this article on SPEED in your trading)

We use speed to determine market sentiment, and market sentiment determines trade direction, which determines the difference between a trending pattern and a reversal pattern, and that is the different between success and failure as a day trader.

I look to use speed of the market at all times.

– Speed of the orders coming into the market on the time & sales window
– Speed of the market moving from HOD to LOD
– Speed of each pattern developing
– Speed of the trade to trigger
– read the article…its a good one 🙂

For years we had to use our eyeballs to watch the speed of the orders coming into the market on our time & sales window, and it took new traders YEARS to develop an ‘eye’ for reading the speed of the tape.

This all changed when I created the Pace of Tape Indicator.  

The Pace of Tape Indicator measures the SPEED of the orders coming into the market on your time & sales window. 

It does not count contracts, does not count volume, and cannot tell the difference between 100 and 1 lot coming into the market.  All it does is count the orders, no matter the size.

This simple approach measures the SPEED of the market itself, and this is the purest form of price action.

I look forward to sharing this unique indicator with our advanced members, and we use it every day in our live trade room.

Here’s how to use it…