Damn TDâ¦â¦ Your post conjures many thoughts Sir I suppose my main one; Careful though - else you'll start getting accused of obfuscating - LOL redneck bot
Why make it so hard? Dump the chart as price patterns are not reliable. Learn to read the behavior patterns in DOM and T&S platform and then trade using both and nothing else.
I made a DOM and T&S thread but still do not understand most of what was said in it other than price goes where the volume (open orders) is, but after watching the DOM for a while that seems like it happens sometimes but not always. When it does happen it's usually only for a few seconds or so, so it seems like a scalping strategy. Also, things like the ES rarely get unbalanced, whereas things like CL or Gold can get 2:1 or even 3:1 on occasion, so I assume that "unbalanced" means different things depending on what you're trading. I don't know why price reverses when on the DOM there are still orders above and below price. Seems like it could go either direction. Now if there were no orders below price but there were orders above price, I could understand if price moved up. I didn't understand anything JH was saying in that thread. I have not noticed a correlation between anything on Time and Sales and anything price does. I'm trying to look for big orders and rapid orders. Sometimes big orders come in at tops and bottoms. Sometimes in the middle of trends. Sometimes during chop. Sometimes the Time and Sales goes fast during movement, sometimes it goes fast during chop.
That should keep ya busy Reading the Specialist. http://www.elitetrader.com/vb/showt...=6&pagenumber=1 TAPE READING (chat room cont.) http://www.elitetrader.com/vb/showt...at&pagenumber=1 http://www.jigsawtrading.com/learn-...e/free-lessons/ http://www.nobsdaytrading.com/ http://www.simplicitytradinghost.co...d_Homework.html
Did you copy and paste those links from text? None of them work except for nobsdaytrading because they all have "..." in the middle of them.