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Simple order book, depth of market or time and sales?
People who trade off of market orders do you prefer simple order book, depth of market or time and sales? I am interested in using the tape to supplement my trades and keep up with the ticks, but am not sure really which one I should focus on. I use tradestation and all 3 represent the data in usable ways. What do you think is the most useful method?
Can you help answer these questions from other members on NexusFi?
@TheManWithNoPlan, let's hope you get some suggestions for next steps that you can put to use.
One simple thing is to use the Search function for your topics.
I hope others will have their suggestions for what has worked for them. Read a lot of posts and ask questions. You will uncover a lot of material here on them.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
@TheManWithNoPlan you may find the thread below on microstructures useful. It had an incremental impact on my trading, one of the building blocks informing my methodology (such that it is).
Coincidentally, there is also a link to a poll link on that OP asking traders which trading method is best. You might find that interesting as well, but I urge you to focus on what iantang found in their experiments. Let your curiosity lead you down the rabbit hole. I found other scholarly articles written on the topic of syncing t&s with the order book by searching on Google.
There is a ton of misinformation out there about the usefulness and utility of a lot of trading concepts. A recent poll on here is showing that there is more interest on the topics of order flow / and scalping than all the other trading …
Thank you for your insight, this should be a fun rabbit hole to jump down, hopefully there is no red queen to shout off with his head and just a caterpillar who likes hookah lol.
