Trading with the DOM - how is it useful?

[tech/a]

But how can you spend years rubbishing it without having a friggin clue that it exists? I mean seriously? Are you so all knowing in this game that you are able to discount what EVERY trader of size uses to execute their trades without even knowing what it is, how it works and why real traders use it? I gotta say Tech I am really dumbfounded!! Your words were 5 years ago and this is a quotes,

Trading it or that depth has an influence?

On trading it----many attempt to few succeed.
Sure there are rooms of guys trading "Size" and very few make it.
Id say 90% of people here want to emulate these guys err --YOU--- with the lure of money beyond their dreams.
Few--very few ever attain it and more to the point KEEP IT.
Quants have trading algo's that use it (DOM) all the time.

5 yrs ago my comment was and still is related to DOM in stocks.
Ive not used a DOM screen when trading the FTSE/DAX and done Ok without it.

I and many like me dont want to sit looking at a screen head frying like its in a micro wave and taking 4 hrs to wind down after a session. Not all of use want to (Have to) trade SIZE.

There are 2 sides to the coin.
Not all of the few stay or become wealthy many many blow up---spectacularly.
Even you cant tell me that doesnt happen.

Are you so

all knowing in this game

That you honestly believe that there are
no real traders other than scalpers trading DOM?

 

[CanOz]

Heres a thread to discuss how the DOM is useful.

I'll kick it off by saying that this is the 'coalface', this is the auction market process displayed so it is easy to see all the bids and the offers.

This IS the market in real time.

CanOz

 

[Trembling Hand]

Posted by tech/a

Not all of use want to (Have to) trade SIZE.

Its got nothing to do with size or trade frequency. When you're against the wall you always take this stance. Like in your mind it makes everything you're being told rubbish because I trade a few more time a day than you!!

If you trade a fast market (all futs) and don't use a one click DOM as an order entry you're clueless to what your missing. Ticks lost here and there effect expectancy.

Thats the starting point for futs and the DOM. Whether you want to use it for signals and scalping or not I don't give a toss. But for order entry nothing is as efficient....... by a looooonnnngggg shot.

 

[Gringotts Bank]

Tell us how you're doing it.

What % of money sits off screen? Would that not constitute the real market also?

 

[Trembling Hand]

Tell us how you're doing it.

What % of money sits off screen? Would that not constitute the real market also?

I have no idea GB what you mean.

 

[Gringotts Bank]

I have no idea GB what you mean.

The thread went weird there for a minute while they melded. Was a question to Canoz.

 

[prawn_86]

Canoz and I have created this thread with a few posts from other threads in order to allow people to discuss the DOM in this thread and not get other threads and journals side-tracked.

Continue...

 

[CanOz]

The thread went weird there for a minute while they melded. Was a question to Canoz.

All the trades occur here, bids and offers are are pulled, and stacked ... and stacked and pulled. If i want to drive price down so i can fill my big order for an insto, i can put some fake offers in to show that there is size in the offer. This may scare (spoof) the players back down to a level where i have an iceberg sitting, absorbing all that selling so i can get filled at a lower price and make my clients happy...

Lots of this kind of stuff going on.

If there is size off the DOM, on the sidelines, they can either hit the bid and offer with market orders, or put limit order into the market that will show up on the DOM.

Is this what you meant?

CanOz

 

[tech/a]

Posted by tech/a

Its got nothing to do with size or trade frequency. When you're against the wall you always take this stance. Like in your mind it makes everything you're being told rubbish because I trade a few more time a day than you!!

Que?

you are able to discount what EVERY trader of size

Your words??? thats what your infering.

If you trade a fast market (all futs) and don't use a one click DOM as an order entry you're clueless to what your missing. Ticks lost here and there effect expectancy.

No Im aware of what Im missing. I asked how you guys did super quick entry and you replied.
Ive done ok without it and could do better I know that.

Thats the starting point for futs and the DOM. Whether you want to use it for signals and scalping or not I don't give a toss. But for order entry nothing is as efficient....... by a looooonnnngggg shot.

Yeh got it. Maybe not a member of MENSA.
But Im well aware of how to turn a profit in this game.
Is it the best profit I could possibly get---Not by a long shot.
So I ask questions just like everyone else and expect flack.

 

[CanOz]

Lets try and keep the thread productive, polite and informative, there are lots of ways to trade. Most professional traders are using this tool...obviously its not everyone.

CanOz

 

[Joules MM1]

If you trade a fast market (all futs) and don't use a one click DOM as an order entry you're clueless to what your missing. Ticks lost here and there effect expectancy.

Thats the starting point for futs and the DOM. Whether you want to use it for signals and scalping or not I don't give a toss. But for order entry nothing is as efficient...

+1

there's no more concise point of entry or exit avail to any player (assuming the level is taken correctly)

 

[Joules MM1]

there's a downside to the DOM......but it resides in the traders ability to understand the auction and how it's used against them......and even tho a best-view is avail, what is not avail is how to summarise the players who are not showing their hand......this is the distinct reason that even the best climbers get stuck on the ladder which has nothing to do with efficiency of thought or execution precision......

 

[tech/a]

So in your guys view
Of every 100 traders who attempt to become good at this method of trading.

# How many actually do?
# How many stay profitable over say 5 yrs

How many of those who make it.

# Cant hack it after say 12 mths
# Blow up in say 12 months or less.

What I cant understand is that T/H once said he trades for mates down on luck and picks up a quick $50K
pretty quickly.

If Thats the case why on earth trade for someone else to get size?
100 or 1000 contracts---say?
Just go base jump!

 

[Trembling Hand]

So in your guys view
Of every 100 traders who attempt to become good at this method of trading.

Trade what way? I'm saying the DOM is essential for good entry/exit no matter how you trade. You keep on saying scalping!! I only scalped for a few years when the market suited it. I doubt I will ever have to go back to such size and have a market that will enable that.

What I cant understand is that T/H once said he trades for mates down on luck and picks up a quick $50K
pretty quickly.

As someone who reckons, in fact promotes themselves, as a good business man you're letting your ego get in the way of a good biz idea.

I traded friends CFD accounts over a year when I stumbled across a HUGE inefficiently in the markets and got locked out of trading CFD providers as they would not let me trade under my name. I've been in biz long enough, not just trading, to know when you have a good thing push the hell out of it because it will not last. It didn't.

Got it?

Yet?

 

[Gringotts Bank]

All the trades occur here, bids and offers are are pulled, and stacked ... and stacked and pulled. If i want to drive price down so i can fill my big order for an insto, i can put some fake offers in to show that there is size in the offer. This may scare (spoof) the players back down to a level where i have an iceberg sitting, absorbing all that selling so i can get filled at a lower price and make my clients happy...

Lots of this kind of stuff going on.

If there is size off the DOM, on the sidelines, they can either hit the bid and offer with market orders, or put limit order into the market that will show up on the DOM.

Is this what you meant?

CanOz

I want to see your method in action. I'd like to see TH's method also. Some video maybe?

 

[boofis]

I want to see your method in action. I'd like to see TH's method also. Some video maybe?

Haha join the queue GB. Screen sharing on skype is the easiest way to accomplish this it seems.

 

[CanOz]

I want to see your method in action. I'd like to see TH's method also. Some video maybe?

I would be happy to share my screen with you GB. PM me and we can arrange a skype call. Boofis would be better, the ES has some greater bergs...

The Kospi has a few nice ones too but she's a little bracketed at the moment.

I can't upload video but you can Google it. Looks for Trading with the DOM, or icebergs on the DOM, scalping with the DOM...plenty of videos on YT.

CanOz

 

[Trembling Hand]

I want to see your method in action. I'd like to see TH's method also. Some video maybe?

Its like a merry-go-round. Except its not fun!!

I use the DOM to squeeze a few ticks out of each entry and exit, open a stop a few ticks if it needs some room, and MAYBE the odd scalp if there is nothing to trade on a larger timeframe.

SOMETIMES I can see when the locals are being given the ar$e by insto bots on the DOM when they switch on a crude buy/sell program. Sometimes. That is it.

There is no method!!

I've done 8 trades this morning on the HSI. For an action packed market that would be no more setups taken than your average intraday punter.

 

[Gringotts Bank]

I would be happy to share my screen with you GB. PM me and we can arrange a skype call. Boofis would be better, the ES has some greater bergs...

The Kospi has a few nice ones too but she's a little bracketed at the moment.

I can't upload video but you can Google it. Looks for Trading with the DOM, or icebergs on the DOM, scalping with the DOM...plenty of videos on YT.

CanOz

Thanks for the offer. I'm actually at work now, so I'm whipping away from my chair all the time. Will check youtube keywords, thanks.

 

[Gringotts Bank]

Its like a merry-go-round. Except its not fun!!

I use the DOM to squeeze a few ticks out of each entry and exit, open a stop a few ticks if it needs some room, and MAYBE the odd scalp if there is nothing to trade on a larger timeframe.

SOMETIMES I can see when the locals are being given the ar$e by insto bots on the DOM when they switch on a crude buy/sell program. Sometimes. That is it.

There is no method!!

I've done 8 trades this morning on the HSI. For an action packed market that would be no more setups taken than your average intraday punter.

I bet you do have fun though.