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European index most suited to tape reading
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European index most suited to tape reading

  #11 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: Sierra Charts
Broker/Data: CQG
Favorite Futures: ES, CL
 
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KelvinKing View Post
Hi Daxy,

Yes it does happen, especially around support or resistance levels. Also breakout levels. Basically it's how the institutions get their large orders filled....

so this can happen a 2-3 times per day?

so in theory this would reflect on chart as series of new lows/highs - big enough breakouts to attract the breakout retail traders, as per your example....

i will start looking at the FGBL DOM if this is common occurrence. theres a guy who has done a few webinars on here (braniggan barrett) who trades order flow in the bund - he has some good videos on youtube, if you dont already know, and he will use these order flow areas to build positions iirc for a later anticipated larger move.

In some respects i can see trading FGBL purely off the DOM isnt a bad way to go - though takes intense concentration, and ability to be flexible with methods.

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  #12 (permalink)
Elite Member
Singapore
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage, Continuum
Favorite Futures: FESX, FGBL
 
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DaxyMcDaxFace View Post
so this can happen a 2-3 times per day?

so in theory this would reflect on chart as series of new lows/highs - big enough breakouts to attract the breakout retail traders, as per your example....

i will start looking at the FGBL DOM if this is common occurrence. theres a guy who has done a few webinars on here (braniggan barrett) who trades order flow in the bund - he has some good videos on youtube, if you dont already know, and he will use these order flow areas to build positions iirc for a later anticipated larger move.

In some respects i can see trading FGBL purely off the DOM isnt a bad way to go - though takes intense concentration, and ability to be flexible with methods.


Hi Daxy,

Yes, that's correct. You can spot a lot of these traps if you simple focus on the DOM. Footprints and Bookmap really abstracts too much of the information away from the order flow, and you won't be able to see this as clearly.

It doesn't happen as often as every day, unfortunately, maybe once or twice a week. But good enough, if you can spot them and make a quick scalp....

I mainly trade the FGBL off the DOM and just a tick chart... I have higher time frame charts with volume profile as well, but I don't refer to them much during the trading day.

I used to listen to Braniggan back when he was still in FutexLive. Very informative.

Cheers!

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  #13 (permalink)
Keab
London UK
 
Futures Experience: Intermediate
Platform: TT/Invesotr Rt/DTN.IQ
Broker/Data: LCT/Iq Feed
Favorite Futures: Dax/Bund/FX
 
Posts: 257 since Jul 2013
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KelvinKing View Post
Hi Keab,

I don't use bookmap, so I'm not very familiar with what it can and cannot do.... sorry... But I think reading the DOM is all you really need to trade order flow.... I think all these fancy charts like footprints and bookmap, distract you from what's really happening...

Apologies, thanks for your response-I never saw your reply
Am going to demo bookmap and will see how I get on and see if it can separate the wheat from the chaff.

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  #14 (permalink)
Trading Apprentice
Kazan Russia
 
Futures Experience: Beginner
Platform: Ninja Trader
Favorite Futures: Gold GC, Emini ES
 
Posts: 4 since Dec 2016
Thanks: 3 given, 0 received

Hi KelvinKing!
Tell me, how you trade this strategy on the e-mini SP500? Some futures easier to trade? Thanks.

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  #15 (permalink)
Elite Member
estonia
 
Futures Experience: Intermediate
Platform: Sierra Charts
Favorite Futures: CL, Bund, 6E
 
Posts: 3 since Jul 2015
Thanks: 0 given, 1 received


KelvinKing View Post
Hi Daxy,

Yes, that's correct. You can spot a lot of these traps if you simple focus on the DOM. Footprints and Bookmap really abstracts too much of the information away from the order flow, and you won't be able to see this as clearly.

It doesn't happen as often as every day, unfortunately, maybe once or twice a week. But good enough, if you can spot them and make a quick scalp....

I mainly trade the FGBL off the DOM and just a tick chart... I have higher time frame charts with volume profile as well, but I don't refer to them much during the trading day.

I used to listen to Braniggan back when he was still in FutexLive. Very informative.

Cheers!

well footprint in my opinion is a very good addition to the dom if you dont want to spend too much energy memorizing levels of activity,
also, when trying to get into position trade, footrpint is a very good instrument to see the bigger picture and dom to pinpoint less risky entry.
my limited experience says that you you get killed by commissions if scalping for 1-2 ticks all the time, as you rarely get scratch fill on bund. during my best times I ended average 3-6 ticks per day net of commissions with purely DOM scalping. but these 3-6 are so marginal, that any small psychological failure or a couple of trades where you have to take 5t loss will kill all your effort.
i have watched all available Branningan live trading videos, he is really a guru. but even him cant do it consistently, at least on these videos. Whenever he looks to position himself as per market structure - its a killing.

if you move to less stressful position day trading, market profile and footprint will give you more freedom in terms of risk reward and you can still read orderflow from footprint at reference points.

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The following user says Thank You to sjegorov for this post:
 
  #16 (permalink)
Trading Apprentice
Kazan Russia
 
Futures Experience: Beginner
Platform: Ninja Trader
Favorite Futures: Gold GC, Emini ES
 
Posts: 4 since Dec 2016
Thanks: 3 given, 0 received

sjegorov share his vision for trade using footprint and DOM. Thank you.

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