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SuperDOM analysis
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SuperDOM analysis

  #1 (permalink)
Trading Apprentice
Australia
 
Futures Experience: Beginner
Platform: NinjaTrader
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SuperDOM analysis

Hi,
Iím a newbie for this forum and the future trading. Iím currently practicing through demo account on Ninja Trader. Everyone is saying that DOM is important, but I was staring at the SuperDOM constantly, beside those obvious numbers sit on each side, I couldnít get anything out of it. The support and resistance is not that clear; sometime when the sells side has more volume, but the price is moving up. Itís very confusing. You properly have discussed this before; Iíll appreciate it very much if someone can give me a hint.

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
virginia
 
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Dqueen View Post
... I couldnít get anything out of it. The support and resistance is not that clear; sometime when the sells side has more volume, but the price is moving up. Itís very confusing.....

Well Said!

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  #4 (permalink)
Market Wizard
Houston, Texas
 
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cory View Post
Well Said!

I just found this e-book that explains what traders are supposed to be paying attention to on the DOM when trading. The book describes very well in easy to understand language what prop traders and heavy/institutional/wealthy type traders do during the day when they move price around. It was a real eye opener for me, and put a lot of missing pieces of the puzzle together for me. It shows me how to use the DOM together with volume to base a lot of my trading decisions from.

I am also learning market profile and wish I had learned that 10 years ago too. A lot of traders base their trading decisions on MP with the DOM.

If you just have a good concept of support and resistance areas and chart patterns; wait for a chart pattern to appear on a tick chart for instance; and then watch for a breakout of that wedge or triangle or trend line; and then watch for volume and the DOM. If you are buying the breakout; then you want to see the offers diminish as the bids move up to take over the offers as volume increases. If you are shorting the breakout; then you want to see the bids diminish as the offers hit the bids and volume increases.

Read the e-book. It is a very quick and easy to understand book; and again, it finally helped me understand the game much better.

I have been told over and over again - the money is made in the outer ranges. Just stay out of the middle ranges/chop. Easier said than done. Right.

http://protradefutures.com/wp-content/uploads/2011/09/Trading-with-depth-of-market.pdf

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  #5 (permalink)
Market Wizard
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Dqueen View Post
Iíll appreciate it very much if someone can give me a hint.

I suggest you check out other types of DOM packages. Some of them have free or demo versions.

A recent webinar on futures.io (formerly BMT) has a type of DOM.
https://www.youtube.com/watch?v=viBGTEGFF1k

John (in the video) mentions that you should stare at the DOM for a month before you will understand it.
That may or may not be true but my experience is that it takes a bit of concentrated effort to understand the DOM.

But once you understand, it changes your trading (or at least it did mine)

Jigsaw, 9G and others offer DOM's or similar products.
I created my own and I like it better than any I've seen but that could be because I can modify it when I want to and as my trading changes so can my DOM.

Here is an image of mine. No DOM is the Holy Grail, and they all have a learning curve.
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  #6 (permalink)
Trading Apprentice
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Thanks jlwade123 and DavidHP. Got the e-book, will have a good read about it.

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  #7 (permalink)
Market Wizard
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DavidHP View Post
But once you understand, it changes your trading (or at least it did mine)

No DOM is the Holy Grail, and they all have a learning curve.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Looks like a great system to me. Good luck with this.

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  #8 (permalink)
Padawan
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i'm also very interested in this topic, there's not so much material out there about it and i will appreciate everything i can learn from.

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  #9 (permalink)
Ophtalmologist
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DavidHP View Post
Here is an image of mine. No DOM is the Holy Grail, and they all have a learning curve.
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

That looks really interesting.
Where can I find this (if it is available anywhere)? I have looked in the download section.

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  #10 (permalink)
Market Wizard
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jayeye View Post
That looks really interesting.
Where can I find this (if it is available anywhere)? I have looked in the download section.

I'm sorry but it is not available.
I custom programmed most of it.

You can find similar systems with Jigsaw Trading and 9G Trading.

This one uses special charts along with a custom dom

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Knowing it's not about Clouds or Wind. . .
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