Thanks. My opinion is that the tool doesn't give you an edge.
It just makes reading the order flow easier.
The edge is still in how you apply your knowledge/skill to what you see on the screen.
Very true indeed, applying what you see is very different. However, I think that to create such a product, you have to have a very good idea of what you are looking for and what you want to read FIRST. Otherwise you have no inspiration to create it. So you must be very good at reading the order flow already. All the time that you spent learning that, you've now shared with the world and shortened the learning curve for everyone else who (if they do learn to apply it) will fight for your liquidity. Since you trade ES maybe its not as big a deal but still i think its relevant.
You're saying that reading the flow and applying what you read are two different things and the latter is where the edge comes from. But I reckon that theres just as much edge in the first ( learning how to read it ).
I would say I'm the perfect example. I've read the NOBS book but it was hard to grasp. I've watched the video. I've watched other dom videos. I saw your link I think on traderslab or maybe here and bookmarked it. When I finally got around to watching your demos and reading your training posts, something clicked. Now I don't know if I can attribute that to having read a lot of dom stuff and sleeping on it and letting my subconscious absorb it and finally get that "ah ha", or if it was from directly finding your stuff. It's been over a month of hard work for me so I would be remiss to completely credit it ALL to you, but you still desereve A LOT of it. So believe me, I am very grateful! And I'm a brand new trader who hasn't even gone live yet so you don't have to worry about me taking over. But the point remains, I've gained.
I know these dynamics very well. I am a professional poker player who used to play online. About 3 years ago some of the top players got the idea to get into the internet marketing business and started up "poker training" websites where they would post videos and strategies and explain concepts in depth for a low $30/month subscription. This skyrocketed and many competitors joined in. Obviously there was good money to be made in this niche. But the effect on the poker games was horrendous. Within a year, the ability of the average internet player increased exponentially. While many people were just mimicing strategies without understanding them, they still had a hugely negative impact on the games and decreased the overall profitability greatly for EVERYONE. Now a days the beginner stands no chance to win playing online, unless he puts in tremendous work, simply because there are 8 other professional grinders at every online poker table, who've learned enough from the "training sites" to make it not worthwhile.
I know trading is similar, I see some people guard their edges with their life. And very few are reluctant to even teach because ultimately it only hurts them. The thing is I just don't know the game of trading well enough to judge when you're giving away too much and when you're not. I thought I'd just chime in because I benefited greatly from your material. Member since 2006 but you inspired me to make my first posts.
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So thanks
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