I was looking at material by John Grady at nobsdaytrading and agreed with a lot of what he was saying about how markets worked and the types of traders populating the markets. Firs off, I'm not a scalper so using the DOM for that doesn't interest me. I do think that using a GOOD DOM and looking at the price action around key levels might be useful for entries and exits. A few questions for those with good DOM experience.
1. Has anyone actually used a DOM to trade the open or close on, say, the ES? I've been watching the DOM and T/S for a long time and when you add Trades columns to the limit order columns, there's too much information moving very, very fast to determine what orders are real and what orders are being pulled and to determine what the influences are on the markets behavior (JG says that he and most pro's don't even use charts, just the DOM to trade. I'd personally like to see that when the ES is going warp speed. That would be useful). After the OR and IB are established and the market calms down, I can see some utility.
2. How about periods of intense activity like we had a couple of months ago? John advises standing aside during this kind of activity.
3. Is it just me or is the NinjaTrader DOM useless?
4. I was looking at the Jigsaw platform and comparing that to the DOM offered by Tradingorderflow. Anyone have experience with either?