No offense B_M_S, but if your edge is/was based on the DOM, the "edge" is less of an edge than you want to believe. I won't hijack this thread into a debate about the usefulness of the DOM, but your closing statement regarding 5 levels of price meaning nothing can be said about ANY of the US index futures. It is not YM specific. Good trading to all Osorico Osorico, I didn't say that DOM is my edge but it is a little piece of it. and moreover I don'l like the fact that people trading directly from globex see a lot more than us. Regarding the fact that 5 levels are the same in every index futures this is very far from the true imho. If you trade you will know that the book moves in a very different pace if you are looking at TBond or S&P or EMiniNasdaq etc, you can't say that 5 levels in the bond are the same that 5 levels in the minidow, the speed is completely different good trading B_M_S
one other thing not to forget is that ecbot did not support stop limit orders, only stop market orders. globex only supports stop limit orders, no stop market orders. so i guess from today on, you can only trade ym with (native) stop limit orders, if you want to continue using stop market orders, you will have to simulate them through your broker.
Ok, it's couple of weeks that Globex offers 10+10 DOM on CBOT stock indexes instruments but some datafeed vendors such as Zenfire on Ninjatrader or Pats do not show that change on their DOMs.
Does the DOM convey any useful information? Recently I have watched the ES DOM, and where the index found support/resistance there weren't many ES buyers/sellers. Often you can see 2X or 3X imbalance in the DOM, yet the index price slices right through. The index moves ES; ES doesn't move the index! I know that old myths die hard, but you really must not place any confidence in the DOM. For instance, did you know that there are many types of buyers/sellers in the DOM that have a different goal/timeframe than you have? For example, an ES seller may be hedging a buy of the basket while you are merely making a directional bet! Wake up! Smell the coffee!
You are correct in some things you wrote, but the situation you described above can easily move the market 4-5 ticks, and this could be enough for sort term traders.
It's been postponed the NYMEX and COMEX to April 19 from the original April 5 scheduled date. Currently on X_Trader you can access to 10+10 DOM for instruments such as CBOT ZB/ZN and YM. Again also Strategy Runner with Dorman feed offers the 10+10 on CBOT stock indexes/interest rates instruments (while SR with Pats shows only 5+5). Again, its seems Zenfire and Pats did not upgrade their software to the new market depth change to 10-Deep (for the Globex supported instruments).