Your opinion about chart and DOM way

Discussion in Traders Hideout

Updated October 11, 2018

Your opinion about chart and DOM way

October 11th, 2018, 10:23 AM

#11 (permalink)

MichaelFlowTrader

Atlanta

Posts: 152 since Jan 2017

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RDK91

I think these day's it is very difficult to trade the ladder, definitely in fast moving markets.
ES for example might be better if you want to trade that way.

Also, you will need a very good DOM + other in depth information to be able to pull it of, something like Jigsaw for example.

I've been SIM trading NQ/CL faster markets lately after listening to a mentor. I'm coming from slower bonds so it is like a different world. I find that I don't even need to look at the DOM, let alone a chart to trade. Of course, I look at both of those for context. I think that the faster markets are more about getting into the flow of how they move, being able to spot when velocity is increasing and moving in a way to just jump on for the ride. Trading the moment with a filter. Only when it slows down can you use, say, the Jigsaw/Sierra Charts/ATAS extra data on the DOM to make those type of predictive plays based on seeing the market orders print. Looking at resting limit orders pulling/stacking seems to be a fool's errand in faster markets.

My biggest lesson has been to use a bigger stop and equal profit target. 10:10 is what I've been playing with.