I just bought the book + video NO BS trading, but still difficult to follow. How did you get started reading the dom?
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
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?
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.
the reason is that their intraday margin is low & their price is presented in decimal points
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.
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
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.
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.