yiehom
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yiehom
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I just bought the book + video NO BS trading, but still difficult to follow. How did you get started reading the dom?
what broker do you use ?
Balthazar
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I use Velocity, TT for free.
I highly recomend to come to the John's webinar, you will probably never understand what's about just from the book and the video. The only way is to see someone trading and listen the reasons behind every decision.
Then you have to spend lots of time just watching the DOM and place small trades. Nothing can shorten the screen time you need to start to understanding something.
And after loosing enough money if you manage at last to finish your week even, you will start the real learning. Because you will start to know when not to trade (the most important). The rest comes along.
It's a long way
yiehom
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Will try my best to follow your recommendations.
Meanwhile, I find it difficult to spot the "icebergs". What's the trick?
Meanwhile, I find it difficult to spot the "icebergs". What's the trick?
Balthazar
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Mate, you can't really say there are icebergs or not. If you tired the TT platform, you know there is an advanced order form, where you can send packets of lots, set up the time, volume, wathever you want.
There is institutions getting rid of they positions during days and weeks, those are icebergs too.
The only thing to pay attention to are the price levels, and how the price action is goin on those levels when approching them for the second or third time. YOu will see if the people are interssed, dump size on them or just ignore them.
Those price levels are important, not the indivdual hiden orders. Everybody watch the same things.
Commodity_Trader
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i trade 6A , 6C , 6E , 6J , FGBL ,YM on NT sUper DOM
Commodity_Trader
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the reason is that their intraday margin is low & their price is presented in decimal points
DionysusToast
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Old thread but I'd personally like
EuroStoxx
Bund
e-Mini S&P
Last one is perhaps the toughest without a good handle on trade location.
EuroStoxx
Bund
e-Mini S&P
Last one is perhaps the toughest without a good handle on trade location.
Commodity_Trader
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it seems euroStoxx ticker fesx , is just ame as fgbl but in opposite direction while maybe fgbl has more trading volume because in 5 minute timeframe candles looks better
DionysusToast
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FESX is a lot less volatile than FGBL, although there is an inverse correlation with FGBL most of the time.
With it being less volatile, you have smaller stops, less need for a chart (volume profile will suffice) and a lot more time to weigh things up.
yiehom
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It would be so easy to just wait at price levels, say at resistance to go short as you see momentum/volume lessening. But there are 2 issues for me to deal with:
- which level am I to watch? is it one S/R line on a chart, a step on the profile, yesterdays/weeks Hi/Lo ? a big round number ? which one trumps all?
- having determined the right level, you still have to deal with the "flippers" who might be working orders on both sides. No to mention when there are more than one big guy fighting against one another for the control of the situation.
- which level am I to watch? is it one S/R line on a chart, a step on the profile, yesterdays/weeks Hi/Lo ? a big round number ? which one trumps all?
- having determined the right level, you still have to deal with the "flippers" who might be working orders on both sides. No to mention when there are more than one big guy fighting against one another for the control of the situation.
DionysusToast
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No levels trump all but I would start by using bounces off levels to set bias only - there's a LOT of reasons not to trade the levels themselves. Once you have bias, then measured moves are a great way to get on board a move.
Also - waiting for a pause in momentum and then (for a long), seeing the offers about to break for a long entry works well.
Flippers aren't around all the time. Only when markets conditions are right for them. Flippers are one reason not to play the key levels themselves. These areas provide opportunity for manipulators and so tend to shake people out of position.
FESX, FGBL, FGBM and ES, 6E
FESX suits for GMT traders since time frame is good and i switch to S&P in afternoon.
6E on nos economic indicators and news.
When nothing else to do trade the FGBL for bracket trades only. I dont like trend days on FGBL. Its thin compared to FESX and ES.
FESX suits for GMT traders since time frame is good and i switch to S&P in afternoon.
6E on nos economic indicators and news.
When nothing else to do trade the FGBL for bracket trades only. I dont like trend days on FGBL. Its thin compared to FESX and ES.
yiehom
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By looking at market profile. If only 1 GOOD recognisable VPOC then most probably it will be bracket. If it contains single prints it can be a double distribution or a trend day if it breaks the 2nd temp vpoc.
Then again there are lots of other factors which can help in predicting about what the overall market is trying to do. this can be gauged by looking ahead the week for economic indicators or any press conf or any other market mover news expected. Where market is positioning. Its not straight forward way to say its going to be a trend day or Bracket.
I hope you will agree with above. let me know what your view on Trend day and Bracket Day
DionysusToast
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Good points Eurex
I also look for
- lower than normal volume/low overnight range on the ES
- thicker then normal depth on the DOM
Markets tend to move, consolidate, move consolidate. Whilst I do agree with the philosophy of trying to understand the day type, I tend to see it more as figuring out current market conditions which can change through the day.
If there's 10am news, we often range off the open. Sometimes we take a bi move up and then consolidate for a few hours.
The key is how the volume profile builds out once you start seeing 10k+ contracts at 5-6 consecutive prices, it'll probably rotate around that range for a while.
Here was the one from the Globex today which created some ranging behaviour in the pit session before it eventually broke out and we then got a trend to jump on.
I also look for
- lower than normal volume/low overnight range on the ES
- thicker then normal depth on the DOM
Markets tend to move, consolidate, move consolidate. Whilst I do agree with the philosophy of trying to understand the day type, I tend to see it more as figuring out current market conditions which can change through the day.
If there's 10am news, we often range off the open. Sometimes we take a bi move up and then consolidate for a few hours.
The key is how the volume profile builds out once you start seeing 10k+ contracts at 5-6 consecutive prices, it'll probably rotate around that range for a while.
Here was the one from the Globex today which created some ranging behaviour in the pit session before it eventually broke out and we then got a trend to jump on.
