ElectricSavant Wrote: let me know if you figure out how to trade from DOM without charts. Good trading to you. Don't get discouraged, some of the posters here can be a little rough on you. Maybe you will have a new perspective to share on this subject. Just found out that Depth of Market is a term of some sort. The abreviation is DOM. Everyone knew that except me I'm sure. Beyond this I don't know why DOM is important. I really doubt I'll be able to use anything that is NOT a graph. Just the way my mind works. As I mentioned a couple hours ago, the tick charts show a great many 1/4 point and 1/2 point moves in a day. It seems like a low profit/high probability way to trade. I don't trade as yet Electric Savant. Maybe this year. Thanks for the encouragement. Stephen Szpak
You are a brave man to post so honestly. Thank you. Folks, please be kind to this fella, he came here honestly and you all had to start somewhere too, remember? I truly wish you good trading, Sir and keep in touch. For no apparent reason, I think you are going to be a good trader. Michael B.
by the way there is a kewl charting program that puts DOM in a graph form...just can't remember.... market delta I think.... something like that...
I have heard a very large successful emini scalping prop firm uses this to teach their traders how to scalp/trade orderflow. Beyond on that I have no other information about the software.
i use MarketDelta and like it - a lot. it gives a graphical footprint of the DOM. their website is thick with information on how to use the product and several demonstration videos. also, you can get a fully functioning 30-day free trial (with data from esignal, MBT, and a couple of others). so far my biggest criticism is that you can't change background colors. if i remember correctly, you can have up to 50 MD sessions running at once. so even if you watched four timeframes on several trading instruments you should be good to go. anyway, i like it. as for trading from the DOM, i find i rely more and more on the DOM lately. i still use other charts (mainly an MP chart), but by watching what happens to the bids and offers on the DOM you can anticipate better what you will soon see in a typical chart. i'm not an expert at it, but it is very valuable to me. i just find i'm asking "WTF?" less often now that i watch the DOM. hth take care and gtty - omni
Here is a tick chart for a part of Monday morning's trading. There are a lot of 1/4 point moves here. Is is really just a matter of going long (forget about going short for now) at each support level. If the E-mini S&P 500 moves down 1/4 point, then just exit the long position. See if support holds at the next level down, and go long looking for a 1/4 point move upward. {{{Also each profitable move would result in about 12.50 - $5.00 (for commissions) for a $7.50 profit, correct????}}} Anyone can comment. Thanks. Stephen Szpak
I just watched Market Delta Simplified. You can change the colors. Maybe you are refering to some other part of their product. (?) I think I have to watch the other vidoes by them. Hope this isn't a waste of time. It seems incredibly abstract compared to a tick chart. Stephen Szpak