Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hello Traders, I want to help those of you who have considered MultiCharts as a platform explore it's DOM capabilities.
I want to do it in a slow process so it can give a chance to both beginners and advanced traders a chance to participate.
What you will find along the way is that MultiCharts has automated a process that allows you to take advantage of almost every market bias that you may have. I suggest to flow this while you have a demo for MC, which you can get from our site.
I will do it one at the time until such time we cover the entire capability of the DOM.
Ok, so this is lesson one:
1) You can drag the buttons from the DOM directly to the Ladder and place your order.
2) If you don't know what a certain button does you can hover your mouse over it and see what is the functionality offers.
Like mentiioned above, we will place more each day until we cover it all. Also, I will add screen shots and/or movies to illustrate it.
Questions always welcomed.
Matt
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
The first button on the MC DOM is BreakOut Down Fade Strategy.
This is when you have a bias on the short side, and you want to take advantage if it breaks on the downside (breakout) or think the market has a limited potential on the upside (resistance), and you place a limit order.
This is an OCO order and one order will get canceled the instant that one order is filled.
You need to specify the number of ticks on the upside of the Limit order and the number of
tick on the downside of the stop order (Sell-Stop).
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
The Second Button on the MC DOM is BreakOut Up Fade Strategy.
This is when you have a bias on the long side, and you want to take advantage if it breaks on the Upside (Breakout) or think the market has a limited potential on the downside (Support), and you place a limit order.
This is an OCO order and one order will get canceled the instant that one order is filled.
You need to specify the number of ticks on the upside (Buy Stop Order) and the number of
tick on the downside of the Limit Order (Buy Limit Order)
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
The idea and education behind the MultiCharts DOM is not only to show you the functionalities that the platform is capable of, but rather to show you guys that are chart trading that you can for the most part automate your entries and exits. These automation would translate to your chart trading the minute it is applied as well and you can continue from there.
Having said that, the next button is a Breakout Strategy. This is when you you have no particular bias unless there is a breakout on the upside and/or breakout on the down side.
You Place a Buy Stop Order on the Upside and a Sell Stop Order on the DownSide. Upside means ticks away on the upside of the market and Downside means ticks away on the downside.
Let me know if you guys have questions.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
A Fade Strategy is an OCO order consists of two limit orders above and below the market.
You place a Sell Limit order above the market, and a Buy Limit below the market.
Typically, you would use that if you can identify a range market.
Whenever one is filled, the other one gets canceled.
You will see in the image that you can actually save this strategy, and under "More Parameters, you can actually specify the number of lots applied.
Let me know if you have any questions.
Matt
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I think I have covered the majority of "Place Order" on the MC Dom.
Now I want to get to the second half of the DOM which are the "Exit Strategy"
The first is "Bracket Order"
This is where you set a your "Profit Target" and "Stop Loss" upon entry.
The offset is done via ticks or the price upon entry
So if you have a limit order you can attach the profit target and stop upon entry.
Your stop can be "Stop Market" or Stop Limit
Thanks,
Matt
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
The placement of contingent orders by you or broker, or trading advisor, such as a “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
I know this thread is a bit dated but wanted to post and see if there is still any interest in exploring the DOM capabilities further?
I have used Depth of Market as a mainstay in my trading. I believe with some additional work I might be able to perfect some things that I've been perseverating on. Specifically, I'm interested in order flow analysis and how to better visually represent this within MC. I find the typical DOM presentation cumbersome and hard to follow, I'm not referring to tradability from within the DOM window only how it appears and what information we can glean. Volume and volume differentiation between the Bid/Ask side can be confusing at best. I have been working on some ideas centered on changing this display to one of a mean and a standard deviation from the mean. In doing this the DOM would than show a stable/unstable trend as in, total volume flow change or total volume distribution between Bid/Ask changing. By varying the measurement period the mean could be adjusted to whatever time frame chart being traded. Anyway, just a quick hit on some ideas that I have had and thought I would ask if anyone else might have an interest in brain storming this concept. This explanation only covers about 25% of what I'm looking at and thinking.
I look forward to hearing from some other traders.
