Can any one recommend a course that teaches you how to read the footprint | Trading Reviews and Vendors - futures trading strategies, market news, trading charts and platforms

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Can any one recommend a course that teaches you how to read the footprint

  #20 (permalink)

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London, UK
Trading Experience: Master
Platform: sierra chart, Jigsaw Trading, Bookmap
Favorite Futures: 6E futures, Cable
Posts: 93 since Aug 2012
Thanks: 3 given, 123 received

trendisyourfriend View Post
Thanks for taking the time to prepare and share your video.

I have a question regarding the DOM...

You said that limit orders in the DOM may be real or fake. It's kind of a game played to trap traders in the wrong direction. How do you differentiate between what's real and what's false? And if you assume this may be a game to trap people would it not be better to avoid looking at it and just consider the footprint as it shows what really took place.

Also, i see you have bookmap, that makes quite a bit of information to look at in terms of numbers. BM shows liquidity in a visual way but you still look at the DOM. Is there a reason you keep both tools? With BM you could get rid of the tape as well as the DOM, no?

You never know for certain, but after you've been watching the DOM for a while you tend to guess fairly well and be able to tell to some degree.It is this realtionship Limits Vs Market that makes the market move so you can't really ignore what can possibly be gamed. So you have what really took place (Tape/Footprint) and the Poker table.

The reason why I keep Jigsaw is beacause I am used to it, and it gives me info BM doesn't. I am also used to placing orders on Jigsaw so it's a question of habits. BM is really good indeed to spot algos activities, real or fake. It is very visual so in one screen I have most of the info I need to execute and manage orders really.

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