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

  #29 (permalink)

Elite Member
Wartrace,TN usa
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: 6E
Posts: 72 since Nov 2013
Thanks: 45 given, 47 received

In your opinion what does Bookmap have to offer a trader over Jigsaw? Since Jigsaw has added a similar feature (Auction vista heatmap) it looks very similar to bookmap. I have just started using the heatmap with Jigsaw.

I agree with your statement "It depends on the context. There is no "rule". Either liquidity is pulled and price goes through, or it remains and depending on the volume and momentum of marker orders, it either reverses.. or goes through.. I know this is not useful info but there is no right/wrong answer. You can easily take a chance and risk very little with a tight stop, so not very risky trades with decent potential reward."

Just because there is absorption happening doesn't mean the market will reverse. Once you get burned once or twice it is a lesson learned. I think it is wise to let it play out and like you say enter with tight stop.

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