DionysusToast
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DOM aka Depth of Market
Almost all prop traders start out trading exclusively from it.
Have a look @ this.... http://www.youtube.com/user/GuyBower/videos
Still fancy it?
Almost all prop traders start out trading exclusively from it.
Have a look @ this.... http://www.youtube.com/user/GuyBower/videos
Still fancy it?
DionysusToast
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I wouldn't advise against using it. I use it myself.
Sort of depends which markets you trade. For example forex has no market depth so it would be useless in that market. It's mostly for future and stocks with smaller spreads.
Sort of depends which markets you trade. For example forex has no market depth so it would be useless in that market. It's mostly for future and stocks with smaller spreads.
They are not created equal. You need a good data feed, A broker and software to get a good DOM, but it is well worth the money. I trade exclusively from the DOM, and only look at charts at the beginning of the day for 5 mins tops, just to get an idea of the previous day open close, week high low, and general direction, but that is it.
I use, Kinetick (data Feed), and Ninja Trader (Trading Platform) with Jigsaw Trading's (Depth of Market). Some people use X-Trader very good DOM, but expensive.
Hope this helps. Good Luck
DionysusToast
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Well - they are sort of hard to avoid. Most platforms have one.
If you are coming from the forex/spread bet/binaries world then it will be new...
DionysusToast - Very true, but I would trade off the Ninja Trader DOM, you can see the bids, and offers, but no market profile, and you would mentally have to keep track of what was being bought and sold and bids and offers pulling etc. Even with a time and sales up, it is hard to do.
If he wants to trade from the DOM only, he needs a good platform.
DionysusToast
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Sure - I agree with you 100%
OrderFlowDashPro
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DOME stands for Depth of Market with Execution. The DOME is just a way to place orders. However, many short term traders find that "reading the tape" or the orders to be a fundamental advantage. I'm the developer (vendor) of one such platform, AlphaReveal, which is technically called a DOM because we don't offer order execution yet.
Make no mistake, a DOM or DOME is not at all required for success. It helps with some forms of specialized trading. A lot has to do with how one trades and how one learns to trade. Some traders might do better with calling out their trades verbally then hitting a button.
Make no mistake, a DOM or DOME is not at all required for success. It helps with some forms of specialized trading. A lot has to do with how one trades and how one learns to trade. Some traders might do better with calling out their trades verbally then hitting a button.
neil
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This clown is posting everywhere, has a vendor badge despite having a demo account which indicates he is no experienced trader-and he flogs trading systems !!
Apart from the futility of buying a trading system ( would you sell a winning trading system -let alone publicise it?) this sort of crap detracts from the better (we have a few) trading related threads.
NVP
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peter_anders
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