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Information on how to trade Order Flow

  #20 (permalink)

Brisbane, Australia
Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: AMP/CQG
Favorite Futures: ES, ZN, Currency Futures
Posts: 15 since Oct 2013
Thanks: 2 given, 83 received

DOM + Market Footprint

I find market footprint really practical during the slower sessions (for eg. US products during European sessions) and to just spot setups for larger moves.

If you stare at the DOM for more than a couple of hours it feels like your brain is about to melt. MF allows you to settle back a bit and trade more comfortably I feel.

So- MF for history/ context and DOM to perfect timing/ entry. Thats what seems to work for me. Always good to see the DOM as well to watch the games that they play (pulling/ stacking orders etc.)

On the MF make sure you watch for divergences. Eg. More people selling at market than buying yet the bid not going offer (price moving down.) It is easier to spot this for thinner markets, but the MF makes it quite easy in general. Eventually you will see someone throw a few thousand contracts (to the upside in this example) -in order to make this line break and it will sometimes run.

Best to just set up your footprint and let it run for a couple of days. Then get the data and understand how to use it and it will all come together. One of the other guys said it is just about setups, statistics, and good risk management which I think is pretty spot on.

For me its MF (via Gomi add on), Jigsaw DOM, and chart... All the best!

My two cents..

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