It has taken me months and months to be able to use the Dom with success, but perhaps in not the ways of what most are trying to use it as a scalping aid. I never use it when I am in a trade as smaller timeframes offer me better views of when to close out a trade, but it will tell me when not to enter after an established trend has occurred, Since most of my trades are counter-trend, and I am not a good trend day trader, the Dom can show moments of when the trend is not your friend. I don't look at total contracts on ask/bid sides but each price levels, levels should look like a Christmas tree on bid side, small volume on nearby and increasing as level get away from nearby price, asks are inverted Christmas tree, when these levels get different and depending on number of points in ES from last major low of the day if Price in uptrend is first clue to me that trend is showing it's hand that it will be reversing and that will stop me from taking any trend trades. It is just a small nuance for me to remember, but a loss or two saved each day is huge, difference of having a grand day or fighting to get back to breakeven on the day.
Certainly isn't dead, if anyone says that they just don't know what they are looking at. It's just like anything else, put in the time, get the reward. If not, it will be useless, just another tool in the box that can be used. And no you won't find anything on it, just need to watch and record for yourself. Believe it or not, but hard work does actually work, just like every other profession :eek:
I just saw that Bidhitter is offering a tape reading course and its 50% off with this link: https://www.udemy.com/tape-reading-...-the-tape-for-day-trading/?couponCode=YOUTUBE
50% of what? So he can't sell the crap and doing an advertising 50% "sale"? So it wasn't any good at one price so now it is worth less. Have him produce last three years of monthly brokerage statements and watch him run and offer 90% off.. WHERE IS THE CARFAX? People ask for this when buying a car, how come they don't demand the same on something dealing with money?
http://www.merriam-webster.com/dictionary/cryptanalysis?show=0&t=1395940353 Any one here looking at SPY using this angle?
http://www.jigsawtrading.com/learn-...-lessons/?mc_cid=06cb2a3297&mc_eid=e82e9fb0f7 You might find this Ninja trader add on helpful. Even if you don't the free lessons offed on the website are useful in understanding order flow/ tape reading.