Depth of Market: what is it, who uses it?

trendie

Legendary member
6,841 1,400
hi,

There appear to be no Depth of Market threads here for quite some years.
Whilst waiting for trades, I get YT adverts.
One is for G7FX, a guy called Neerav.
He purports to be a former institutional trader, who now offers training in the use of DoM.

Anyone heard of him? Is DoM viable?
I get the underlying principle, ie, Order Flow, locations of orders and sizes, etc.

Is this still a thing?
I seem to recall a thing called iceberg orders which skew the perception of Order Flow, as well as Algos with spoof orders.

Any ideas?
 

BigDeal

Active member
113 55
Whilst fascinating to look at, I don't think it's possible to really benefit enough from the order book. I don't get involved in FX any longer, but used to get the level 2 feed from MoneyAM (which is no longer going I think) for shares, but most of the time it moves so quickly, (unless you are looking at less liquid instruments) you don't really have a chance to react to what it's showing you. Plus, as you've said, iceberg orders, dark pools, the splitting of large orders, or allowable hidden trades make a mockery of it, at least from my simple point of view.
It's like the live ticker / order book at bitcointicker.co - great fun to watch, but really doesn't help with trading decisions IMO.
 
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trendie

Legendary member
6,841 1,400
Thanks for the insight, BigDeal.
I suppose it's like anything, any successful pattern gets over-used then disappears as it gets corrupted by too many participants.
 

new_trader

Legendary member
6,665 1,489
Thanks for the insight, BigDeal.
I suppose it's like anything, any successful pattern gets over-used then disappears as it gets corrupted by too many participants.

No, the point @BigDeal is making is that DOM was never really a useful tool due to the practice of spoofing and other manipulative tactics.

IMO:
DOM = Fake News
Time & Sales = FACT
 
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McQuant

Member
71 80
No, the point @BigDeal is making is that DOM was never really a useful tool due to the practice of spoofing and other manipulative tactics.

IMO:
DOM = Fake News
Time & Sales = FACT
Agree, spoofing is a big disadvantage for using DOM. It can be maybe filtered algorithmically, but I'm not sure if it is worth an effort for retail traders.

hi,

There appear to be no Depth of Market threads here for quite some years.
Whilst waiting for trades, I get YT adverts.
One is for G7FX, a guy called Neerav.
He purports to be a former institutional trader, who now offers training in the use of DoM.

NV is not a bad "investment", he is explaining a lot of things for trading newcomers. His whole trading concept is based on Volume profile and VWAP. Do not know if the institutional history is correct or not though.
 

sheridanmurray

Newbie
5 0
ive been trading for years but found footprint market profile ect .. its the only way to make 7 figures but it takes time and effort to get good at it . I have done the full circle in trading and have thrown most of what ive learned in 10years out the window > I have numerous courses and books if anyone interested in cutting the journey in half ... I started with retail educators in fx then onto institutional with indexes did a diploma in financial markets learned how spread trades work and using a squawk box for news and info .. the only way to be a pro is to learn how the markets function and how order flow is made a start would be free videos on youtube axia futures ,jigsaw and smb capital to see if its for you then if you dont want to fork out on expensive training b4 you know the basics contact me at [email protected] i have the beginner to pro trader journey mapped out i could save you years of heartache . I have the knowledge strategies and books needed to become a pro .. ive got numerous 5-10k courses cant name here >>>>>>>d and created my own stratagies which you will need to do on your own journey but if you would like to be pointed in the right direction and given the courses needed let me know I also have all the books recommended for trading phycology ,both market wizard books ,reminissance of stock operator ,peter stedlemer ,linda rashke , mark douglas books , books on gaps ,candle sticks ect but really all you need is to learn how to read the tape and become an expert at just a couple of strategies you will need nothing else except to learn money management and dicipline it will take some time and is not going to be easy the joke in trading is that you can press afew buttons and make money not true there are no armatures in trading only the learned diciplnied and experianced and then the ones that dont wont to put in the effort required so will loose money all of it if you think you know where the market is going next you Dont !!!! no one does it only about risk and reward direction and strategies are irrelevant hope this helps from a trader on the road to success .
 
 
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