Trading with the DOM - how is it useful?

[CanOz]

Whats a white print?

These....

The problem is they don't actually show up on the DOM...

CanOz

 

[tech/a]

Tech my point still stands. You have been knocking the DOM trading forever. Yet you have never done it nor know the benefits. Further I've been saying since about 2009 that I don't scalp 100s of trades a day. You just haven't wanted to hear it.

Not my fault if a ducks ears are full of water.....

Yeh guess I have.

DOM has been until a few posts ago seen by me as simply trading off it without anything else.
Attempting to fade volume blocks or trade to big blocks.
In itself I still see it as no more than punting. BUT you and others seem to do better than 50%

You disagree but as a stand alone method I dont rate it from what Iv seen.
BUT as an adjuct to trading and squeezing a few extra pips you and other exponents obviously have something.

How would you go just purely DOM?
I reckon thats what a lot here are trying to do! DOM ONLY

Hence my stance.

Perhaps I should read more of your posts to get up to speed or stay south in winter to keep up!

 

[Trembling Hand]

These....

The problem is they don't actually show up on the DOM...

CanOz

Contract roll over. Off market transfers by brokers if they are large numbers not showing up.

 

[CanOz]

There are plenty that use the DOM only, search on youtube for "nobstrading" thats John Grady. He trades treasuries with only the TT DOM. 3 DOMs actually, one for each instrument. You can see how they do it.

CanOz

 

[boofis]

I reckon thats what a lot here are trying to do! DOM ONLY

I don't think there's alot of people anywhere trying to do much with the DOM. My 2c.

 

[CanOz]

I don't think there's alot of people anywhere trying to do much with the DOM. My 2c.

I think that all successful intra-day futures traders are using the DOM. Intra-day Equity traders are also using a depth of market but its looks a bit different.

All the squiggly lines and indicators are just being sold as HOPE.

I struggle to use the DOM on the DAX and the HSI, but a volume ladder help to see the action!!

CanOz

 

[Trembling Hand]

How would you go just purely DOM?
I reckon thats what a lot here are trying to do! DOM ONLY

Like I have said very often recently no matter how you do scalp I have no idea why you would in this market. Huge intraday volatility makes it a dumb idea to scalp. The last three days on the HSI we have had over 1% intraday moves. DAX the same. Its like picking up when there is $100 bills laying on the ground.

And no I wouldn't do just 100% DOM trading. Maybe if you were a spreader on bond yes but equities nope. You'll just enrich your broker...... at best.

 

[prawn_86]

Cool that will cost you a beer and payment must be made in 3 days or less.

Heaps of useful info in this thread. I'll throw a frothy in too

 

[bidsandoffers]

Heaps of useful info in this thread. I'll throw a frothy in too

Here's a video of using the dom to trade. The market is the Emini S& 500

 

[CanOz]

John Grady has now switched to Jigsaw!

He gives a pretty good explanation why the DOM is useful...



Jigsaw will be available for other platforms soon too apparently.

CanOz

 

[tech/a]

John Grady has now switched to Jigsaw!

He gives a pretty good explanation why the DOM is useful...



Jigsaw will be available for other platforms soon too apparently.

CanOz

Now that I follow!

If T/H and anyone else can read Course of trades without this
then they are damned geniuses.
I'm sure this would improve even the most experienced guys.
Their win rate would have to improve.

Thanks For Sharing CanOz

I can certainly appreciate the many posts T/H has put up with regard to
Sim accounts.

http://www.jigsawtrading.com/try-buy/

 

[CanOz]

No worries Tech, thanks for posting the link, i completely forgot...

CanOz

 

[DJG]

I look forward to learning more from this thread. Hopefully we can keep the DOM traders v. non-DOM traders argument at a minor pace. As I'm sure many newbies such as myself will benefit from the education rather than arguments.

I'll have to start reading up on the basics

 

[CanOz]

I look forward to learning more from this thread. Hopefully we can keep the DOM traders v. non-DOM traders argument at a minor pace. As I'm sure many newbies such as myself will benefit from the education rather than arguments.

I'll have to start reading up on the basics

Its like a religion Dan, just got to get them to see the light:engel:

 

[dionysustoast]

Yeh guess I have.

DOM has been until a few posts ago seen by me as simply trading off it without anything else.
Attempting to fade volume blocks or trade to big blocks.
In itself I still see it as no more than punting. BUT you and others seem to do better than 50%

You disagree but as a stand alone method I dont rate it from what Iv seen.
BUT as an adjuct to trading and squeezing a few extra pips you and other exponents obviously have something.

How would you go just purely DOM?
I reckon thats what a lot here are trying to do! DOM ONLY

Hence my stance.

Perhaps I should read more of your posts to get up to speed or stay south in winter to keep up!

DOM only trading is possible.

There have been periods over the past month on the ES where that's been pretty much all you can do to make money. Volatility went so low that instruments like FESX and ES spent lots of time in tiny ranges.

What do you do when that happens? You can of course sit on your hands. You could also wait to get to an extreme and tke a blind punt at it. You could also wait to get to an extreme and then look at how that extreme is being 'played'.

When you get into a range, that area becomes rife for scalping. It's a bit like a game of ping-pong. The market is being batted from one end to the other with anyone trading in the middle taking a coin flip and lots of them getting their asses handed to them.

As you get to the extreme, you are in an area where there is absolutely no problem whatsoever with large players screwing around with the market. It's not as if it's going to zoom off 30 ticks is it? So they nudge it outside the range to get the breakout players in and then drive it back to the opposite end. Of course at some point, it will move out of the range but then start another range 10 ticks up.

At those times, it's not much more than a game.

So - not only is DOM only trading possible, I'd put it to you that there are times when it's the only game in town.

Or course, at other times, maybe a bit of news has hit and the market runs one way. Then (as bidsandoffers eloqeuntly put it to me recently) you just pick up your balls and go with it.

It's not as if you have to pick a technique and stick with it no matter what, is it?

 

[dionysustoast]

Like I have said very often recently no matter how you do scalp I have no idea why you would in this market. Huge intraday volatility makes it a dumb idea to scalp. The last three days on the HSI we have had over 1% intraday moves. DAX the same. Its like picking up when there is $100 bills laying on the ground.

And no I wouldn't do just 100% DOM trading. Maybe if you were a spreader on bond yes but equities nope. You'll just enrich your broker...... at best.

Indeedly.

 

[CanOz]

For the scalpers out there!

Scalpers Anon...

 

[CanOz]

Scalping - Playing the Lean

I found this article again by John Grady, very useful for those wanting to know what to look for in the depth of market...

 

[CanOz]

Here is a new webinar on trading without charts by the guys at Jigsaw...

 

[RADO]

Thanks for putting up the JigSaw webinar CanOz, this is my kind of stuff! along with John Grady's vids on YouTube.
I thought I'd put up this link http://www.9gtrading.com/ its an add-on DOM for Ninjatrader just like Jigsaw with heaps of different skins, I haven't used it so I can't comment on it. But there's also a forum on the website which might be useful to some people.