WEBVTT

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Time and Sales shows executions.

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But one displayed row does not always mean one original print or one trader.

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Let's use an invented example to see what grouping changes.

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Start with price and size.

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A size of three means three contracts in the reported print.

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Colours often classify executions relative to the bid or ask.

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They do not identify who traded, and classification depends on the data and platform.

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Imagine three executions at the same price and on the same classified side, close together in time.

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Their sizes are three, two and one.

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A grouping rule can display one row of six contracts.

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Grouping changes the presentation, not the total volume in these three prints.

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It does not prove that one trader submitted a six-contract order.

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Compare the price, side and time window used by the platform.

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A fast tape is activity, not a direction forecast.

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Ask whether the price advances after the executions or remains at the same level.

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Compare equal time intervals with the same grouping and playback speed.

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In Replay, choose one price and watch ten seconds.

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Note the executed volume and the response of the price.

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Pause, write your observation and repeat.

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Do not count coloured rows as separate traders.

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Use the free NQ Replay to put the tape next to the order book and chart.

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Read the companion guide for more examples.

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The session is recorded and any orders you place are simulated.