wtf bros So today in my attempt to scalp profitably (demo) I tried a few things: a) I began trying to use the DOM and trade into imbalances. This worked randomly but I kept getting stopped out (on the NQ). So every time I got stopped out, I increased the SL. Started with 2 and 2. That didn't work. 2 and 3. 2 and 5. 3 and 5. 3 and 7. etc. I quickly realized this isn't possible (for me) on the NQ. So I moved on to scalping from the charts. b) I created a system that works (nearly) perfectly on paper. I'm talking 9/10ish win ratio with 2:8 profit margin. So (without commissions) this is like +10 points for every 10 trades. 9*2 - 8. Since I won't use the DOM (see a)), I had to manually enter limit orders on the close of candles. HOWEVER when the previous candle closes, the next one prints too late. Is this a software/datafeed issue? So you have like, instead of printing the first point, it prints like with a base and a low and growing already. So this makes execution really hard. So c) I decided instead of this awesome system, I would just enter with two and take the first one off at the target profit (2 or 3) and then let the other one goooooo. THIS LIKE LITERALLY DOES NOT WORK. I ended up with heaps of trades that got the +3 profit and then -8 for the other one. So each trade was a net loser. Except for the one or two randoms that went in my favor. Is scalping and having one stay open to catch trends unrealistic?
works about the same on NQ and YM. YM is slower. Haven't tried on ES yet. By NQ YM and ES I mean micro NQ YM and ES.
a few decades ago, I used to see many DOM traders in the trading houses. nowadays there are not many. perhaps the Algo / high-frequency traders are making DOM trading difficult. anyway all the best to your DOM trading.
While researching Bookmap, I came across Scott Pulcini. He was featured in "Enhancing Trader Performance", by Dr. Brett Steenbarger, which I read many years ago. He traded the DOM, then it stopped working for him, in 2005. "During the years from 2002 to 2005 he was responsible for trading on average,10% of the S&P e-mini futures volume" Maybe check him out. He is quite honest about his trading journey, and hardship. https://www.scottpulcinitrader.com/about @SimpleMeLike This dude can give Al Brooks a ride for his money. For a period of time, he was the real deal...
To use Dom effectively buy a software that can give Dom footprint. Practice on es during overnight session. About your candle issue, unless your chart period elapsed candle can't be determined so it appears the way you describe.