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
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.
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.
You donít trade the markets; you only trade your beliefs about the markets.
- Van K Tharp
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.