GOM Ladder vs Order Flow Analytics? | Trading Reviews and Vendors


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GOM Ladder vs Order Flow Analytics?

  #4 (permalink)

Elite Member
South Lyon Michigan USA
 
Futures Experience: Intermediate
Platform: Ninjatrader, AMP, tradeking thinkorswim
Favorite Futures: CL, TF
 
Posts: 61 since Sep 2012
Thanks: 617 given, 106 received

Not that useless

I'm not sure of the ES but with the CL I have finally found some context in the foot print chart. Delta, volume, points of control, commitment of traders, low value nodes, bid or offer clusters are all relevant.
Everyone evolves into different trading styles, but you have to use several building blocks start the "structured" learning process. Just like lawyers and doctors that are in "practices".
If anything the footprint may give hints of areas to avoid in scalping, like the chop of a new POC.
IMHO every trader should learn to scalp. Not saying it is the way to trade, but gives you the orderflow action of the workings of the auction. You should always do in sim, of course. But if you scalp train and you start out at a 30% win ratio and then after a period of time you are up to 45%,(still losing) the awareness of the market action is embedded in the peanut and more emotional capital is built. Also this forced learning with only a Volume ladder and Dom will bring so much more context to longer timeframe charts which you will be jonesing for.
And besides, most traders that scale out are in a way scalping for T1, which gives the monkey some breathing room and less wear and tear on the emotional capital.
There are so few good training videos for the volume ladder. I looked high and low, spent hours coming up with only tidbits. Had to do the grunt work to be able to see for myself.
Brett Steenburger said all traders need to find their niche. So true and many years in the search of it.

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