What it is
Time and sales, or the tape, lists completed trades with price, size and time. Unlike the order book, it shows what actually traded.
How traders use it
- To see whether buyers or sellers are transacting
- To gauge the speed of a move
- To spot large prints at a level
Worked example
The tape slows to small prints while price holds a level. A tape reader interprets the seller as finished and looks for the long entry.
Limitations
- Very fast and hard to read live
- Requires context from price structure
Common mistakes
- Over-reading single large prints
- Using the tape as the only input
Educational content only. TradeCaster does not provide financial advice and past results never imply future performance.