correct..even on 1 min charts..if you remove the time frame and price legend then there is no difference..in reality..the difference is of course range..which is also equal to volatility.. fwiw..i have been spending some time on my trading setup..and as i am not married to anything but a woman..i have gotten rid of MT5 and AMP data for PC trading..have now subscribed to IB basic data for $10 per month (refunded once commissions exceed $30).. plus another non refundable $5 per month for Globex depth of market..which is required for trading.. so.. everyone will keep talking mostly about things that really do not matter..a small few will take the time to test and perfect their trading setup so that they can take some money from others..it really is that simple..and the most important thing..of course..is..TIME
woulda..coulda..shoulda all is not what it seems..but..all that matters is the outcome..we can talk until the cow's come home about things..but that won't change anything for anyone.. in order to get a result..action is required..before you take action risking your money..unless you spend time perfecting your setup and method..then the odds are you will just start the hoping and waiting game..which of course can have a positive result..but in the long run it will not allow you to keep the money you take from others..and if you can't keep the money..then why even bother..it is just a total waste of time and effort.. back to what i think matters..which has been discussed many times..sometimes it feels like you are just talking to yourself..as the questions by some are the same old story.. profit = low risk + ample (not adequate) opportunity low risk = not risk too much per trade ample opportunity = plenty of trade setups the key here of course is the "trade setup"..in order to see the trade setup you must have an adequate "trading setup".. this takes a bit of thinking..practice..and most important..actual trading with real money.. there is no other way..if you want to listen to Gobshites who want to sell you shovels for digging gold..then do not expect much if..on the other hand..you buy a 32" x 4k monitor..turn it to portrait mode..then you can have a very long depth of market (booktrader in TWS software) as per my last screenshot..and have all your other required charting on the same screen..then..it is just a matter of being able to read what is happening..and react to it.. it is that simple..no magic formula..no mystics..no voodoo..no nothing but price action and volume.. of course..if you don't..or can't..for whatever reason.. interpret what is happening right in front of your eyes..then the answer is simple..FORGET IT..as my old friend RN used to say.. "you might as well be pissing up a rope"
i don't know the chap personally..nor have i any interest in what he says..i like to keep my posts as short as possible..as a long post usually means "rubbish"..the introduction in the post is the key..if the intro is not worth reading then i don't read the rest and just ignore it.. have i learned anything from others here..to be honest very little..and what i did learn has not helped me hold on to the money i take from others..that only happened by many fuck ups..many sleepless nights (no more)..and being in a position where i owe nothing to anyone..not a cent..apart from the standard utility bills which are automatically paid on time.. your biggest obstacle is staring at you every morning and night..each time you brush your teeth
Why is the DOM introduced after 7897 posts...? Does the DOM just offer you sharper entries; based on the Obvious principle?
i would say this is not the first time the dom has been mentioned..or displayed..as.. it is an integral part of the Obvious ! you are familiar with the saying.. "the more things that line up..the better" this has also been mentioned many times in the past.. your job..as the one risking the money..is to ensure that when you put on a trade..the odds of it moving in your favour are good.. we all know the bla bla bla in relation to anything can happen at any time..but as the one risking the money you HAVE to allow some play for movements up and down..otherwise you are just getting sucked into the newest fad of "order flow analysis" and trying to compete with the algo traders..which..of course..is a complete waste of time and effort.. TIME is your best friend..so pay it the respect it deserves..and it will look after you.. comprendez vous ? btw..the histogram on the dom is not there as a fancy picture...as should be the case with all of your charting setups..if you are looking at something that offers no benefit to your results..then get rid of it.. everything you look at..and use..MUST be contributing to your results..otherwise you are running the risk of "distraction" from what you need to be looking at..and what you need to be doing
Obviously there was a long signal over there. It is just that I ignored long signals in MES on Friday. To me the risk reward was not in my favour. Time, range and most importantly context are all very important to me.