If you get to know the man first, then you might get to know the trader. From what this guy writes, he is the real thing
We all know what ET is like with the consistent personal attacks. Therefore, highly recommend when asking questions on a personal level...best to do it via pm only if there's a need to get to know someone on a personal level instead of trying to do it in a thread discussion about trading. That prevents the usual jerks from trying to use the information for their own mudslinging at a later date...something that happens frequently. Mark
I watch these "walls" as price moves toward zones where I look to counter-trend, or join a trend in progress at a value price level. As price moves toward my zone of entry I watch how quickly these apparently "high value" prices hold, move, or vanish, and combined with overbought/oversold oscillators, I choose my intraday entries and exits.
Walls, like all non inductively determined logic, work all the time. In the DOM the minority rules. The deductive reason is counterintuitive the the inductive comments you have read here. You can space the posters here on a semantic differential to see their progress in drilling down on understanding using the DOM. What you see on the DOM is only one side of the trading paricipants. reason through the consideration that NO trade ever takes place where both side of a trade are showing on the DOM. So far you do not know what shows and what does not show. Its not a problem, but you haven't reached a point where you can ask questions and this thread is not moderated from a knowledgable technical vantage point. Some people cannot comment from a normal glossary or vocabulary founded point of view regarding "tape reading". Your level of uncertainty and anxiety causes you to turn to other topics (it has been pointered out to you as well). The topics and how far drilling down into them occurs goes in 4 or 5 year cycles on ET. ET did not keep up with the state of the art in Word or Excel and in many other forms of posting pictorial or charting info. What this means is that most people have to go through an intermediate conversion to be able to illustrate the topic under discussion. They don't and the thread dies. The DOM is such a case. To get to understand the resolutions of the contradictions in this thread it would be necessary to illustrate the points. That is beyond ET technically speaking because of site limitations. Suffice to say that the DOM is only used when it is appropriate and that has to do with trading's effectiveness and efficiency. Your two current priorities and goals are one's that people on the way out of trading, use. If you do a 180 at some point, then you will have a chance of catching on to how trading works. Loking for short cuts and looking for rules is generally a quest that is not fruitful. any quality method can be coded into an ATS by its operator, but on the otherhand people seeking rules of an approach cannot, ordinarily, reduce them to practice. The reason does not have to do with "getting to know you"; the reasons have to do with the gaps in your mind. Most potential traders who approach learning to trade are ignorant and fill this void with their life's experience and character orientation and responsiveness and what you focus on: shortcuts and rules. The minds of these people NEVER become differentiated. That is capable of a resource being summoned as inference which augments and matches the sensory input to produce perception. Thus most people have no perception of DOM in any way. ET does not moderate to ID or service errors in any way. Errors remain. In learning the same is true; errors remain and if they are ever dealt with it is to provide a better unconscious alternative recourse or "erase them" Biochemically "erasing is a huge biochemical intricant process. You demonstrate you do not have the biochemical capability so be careful. Using the DOM at the right time to collect profit segments is one use. The ohther use is to maintain holds at times when a profit segment is not over. You can see that these two seminal uses of DOM are not contining in the limelight in terms of back and forth conversation. A way to remedy that is the have a moderated thread and keep clearly focussed on one then the other of the two seminal uses. In situations where there are two applications (for purposeful traders), then it is possible to treat a Universe (think Venn diagramming) as having two non overlapping subsets. By learning one part, it makes it possible to have a container for the scond part. One portion is learning the use the DOM to hold through a profit segement. The other part is learning to use DOM for carving turns at the end of profit segments. People who use entry/exit trading (cused by inductive edge trading) usually cannot grasp either the holding of a position or the nature of carving all the market's offer at the end of a profit segment. Since this is the tading thred look at the moderator's comments to verify the above circumstance of inductive traders who use edges instead of knowledge of how markets work. It may be obvious to you tha Mr. Black is not an edge trader but a trader who recognizes trend segments and using a reversal to take profits and renter the market in the opposite direction. An illustration of being able to use the DOM flows from being able to line up all the trades for the next day and listing thenm after the market close and before the next day's open. Once the list is made up, then the trader uses the DOM and other leading tools of price to carve the turns on the list. This comment introduces a major difference between inductive and deductively based trading. The decision to join one or the other is made by the potential trader. You have joined the inductive group as has the moderator. Prove this to yourself by making up a list of Monday's trades this evening. Here you will heve the 20 applications of the DOM listed for dealing with the WALL as a tool to carve turns. you also have the list of intervals for using the DOM to define HOLDING to be able to extract each profit segment of the upcoming day (Monday). SoI have put on the table, what it takes for a potential trader to consider dropping induction and adopting deduction. Obviously, the more decisions a person has made to lock himself into induction the more remote the possibility of following any discussion in the deductive reasoning realm. Notice in ET their are ) OCD's who use deductive reasoning. Notice all those who failed to become traders have inherently used induction to create their path out of the market by using repeated failure. The DOM is what separates the universe of traders in to smaller groups. I am in the cool cat user of DOM group. I am more than just a cool cat. I am like the butter in "Little Black Sambo", the Tiger type. The DOM enables a trader, in part, to carve partial fills to the nearest tick (we give up the spread to make a higher money velocity). ET needs a forum that is like the trading forum but focussed on differentiating the mind for making money. a differentiated mind supplies, automatically, the inference needed a each specific time. It makes trading like driving a car. No fear but support instead; no anxiety but comfort instead; no anger but confidence instead. As usual for an unmoderated thread you get to see the OCD's shoot the messenger. using DOM fits into a trader's tool box when there is a space made available for it. this "when" comes about when a trader's mind is "sufficiently" differentiated. In trading, there is a path to expertise. Any person can look at the path they have chosen and laid out. People either chose to become expert or follow a path of repeated failure. One is written out ahead of time the other becomes a path written as failure after failure occurs. In ET you can read both paths by simply printing up the p[osts of either case and hilighting the paths these handles followed. there are some really funny ones and some really sad ones.
Hi Jack, I have read your post several times, I think I understand some of it. But I couldn't understand anything in the above paragraph, can you further explain it please? How sunrise or sunset is related to DOM? What are "relative minimums" and "relative maximums"? Thanks
Fantastic advice NoDoji, I cant imagine why you are giving it away for free here on ET. Cant wait for the 9:30 bell.
I just assume most people here play with the many charting programes and a few brave people trade the SIM. Judging from the quality of the posts it has never occurred to me that anyone actually trades real money.