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do I need DOM to be a discretionary trader?
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do I need DOM to be a discretionary trader?

  #1 (permalink)
Trading for Fun
Boise, Idaho
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: AMP/CQG
Favorite Futures: es
 
Posts: 71 since Feb 2013
Thanks: 28 given, 10 received

do I need DOM to be a discretionary trader?

Someone in the MC sub forum was lamenting the absence of DOM on MC (which apparently has been fixed) and said DOM was crucial to
being
a discretionary trader, which made me wonder if I know what DOM and discretionary trader is. I practice price action trading. I don't use any indicators. I was using DOM on TOS but I found it too


hard to quickly locate the price I wanted on DOM. I switched to NT recently and their platform has something called "chart trader" in which all I need to do is right click the spot on the candle where I want to place a limit order, for example. It is much easier than placing a similar order using DOM. So I don't understand what he meant when he said DOM is a must have for discretionary traders when it seems to me chart trader is a must have. I am considering switching from NT to MC because chart trader comes at no cost with my broker AMP whereas the chart trader feature on NT would cost me $50 a month. Please comment if you can on whether MC is a good choice for a PAT trader who trades the ES. It seems to be quite flashy with lots of bells and whistles. I just want the no-cost chart trader. Thanks in advance for your replies.

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  #3 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
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I can't comment on a NT vs MC comparison. But I can say that you definitely dont need a DOM to be a discretionary trader. Are you sure the person you're talking about wasn't talking about scalping? In that case, sure a DOM is likely critical. But there are countless types of discretionary trading. To say that they all need a DOM is just not accurate.

Diversification is the only free lunch
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  #4 (permalink)
Elite Member
seoul, Korea
 
Futures Experience: Intermediate
Platform: Multicharts
Broker/Data: CQG, DTN IQfeed
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treydog999's Avatar
 
Posts: 894 since Jul 2012
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MC has chart trading and a DOM

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  #5 (permalink)
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Chicago Illinois USA
 
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I use

chart trader because I prefer that visual.

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  #6 (permalink)
Trading for Fun
Boise, Idaho
 
Futures Experience: Intermediate
Platform: Ninja Trader
Broker/Data: AMP/CQG
Favorite Futures: es
 
Posts: 71 since Feb 2013
Thanks: 28 given, 10 received


DarkPoolTrading View Post
I can't comment on a NT vs MC comparison. But I can say that you definitely dont need a DOM to be a discretionary trader. Are you sure the person you're talking about wasn't talking about scalping? In that case, sure a DOM is likely critical. But there are countless types of discretionary trading. To say that they all need a DOM is just not accurate.

Thanks his comment confused me so I am.relieved to know I am not entirely clueless. I will see if I can find his post in MC when I get home from the road I am a truck driver. I have a smart phone but I find them very unfriendly for surfing forums.

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