Thanks for the replies stfreak, Jack and RD I have a question - can they have invisible orders in the CME emini's ? I will post a beautiful DOM spoof/fake on the weekend- happened when the tanks rolled into Bangkok (Sept 19 2006) which caused the selloff.
It's been a while since I've seen this thread! To anyone interested in market depth patterns, I suggest you read Dr. Bogdan's posts. I've been able to effectively recreate a primitive "sentiment spectrum" using the methods he explained. (attached QQQQ from a few minutes ago)
http://www.elitetrader.com/vb/showthread.php?s=&threadid=26324&perpage=40&pagenumber=3#post399844 Also explained here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=34819&perpage=40
Here it is... before and after. 091906 11:23 Note Thai coup news started emerging about 11:17. Before...
Great, looks like there are some guys trading of the DOM: Also, I find it quite interesting that there are so many different point of views. For example, i completely disagree with Jack, because I do not need any visualisation and I don´t wanna have that. In my opinion trading of the DOM can be compared to Poker: You bet on someones mistakes (entry). If you are right, you catch the pot. If you are wrong, you fold and wait for the next hand. there is no way to see, what others are doing untill the showdown, no matter how you visualize it. You get the edge by playing only the best hands, not by an information advantage. Of course, you increase your edge by using proper position sizing @boybrutus: you posted a very interesting setup you should think about: the "fake bid" appeared WHERE? --> it appeared at the test of a recent High/resistance area of both markets so it look like someone tried to push through the highs without success--> there are no buyers here because everyone is long trying to get out @even Which side is most vulnerable? the downside of course