well as the thread starter...In summary, it seems as if using the DOM truly is a "landmine" that can blow any account...thanks all for your help!!!...I'm more learned now!!...synopsis...stay away from it and use the MACD :D
if you were daytrading since 2004...what is different now that you are going to trade fulltime...does not daytrading require you to do it fulltime?...or was it "in between" while working a normal job?...please explain...
When considering the ES...here is why DOM "depth of Market" is deceiving...let's say that the "wall" if you will is +4,000 at the "ask" side or "buy orders"...well that can mean 2 things:
#1-orders to buy believing that market will go higher
#2-orders for shorts to cover/lock in profits and no...
great question...YES is the answer...click on this link for more information on the 1 ES point reality...
http://www.elitetrader.com/vb/showthread.php?s=&threadid=95542
yea but, you need HUGE $$$ to trade the SPY and make any money...100-200 of SPY would mean like $10,000 to $20,000 etc....for about $2,000-$5,000 you can be trading the ES and make BIGGER $$$...this is my opinion...
ah, but you do not know if they were buying the 10,000 (hoping SPY rises) or writing the option (hoping SPY tanks)...SO, bottomline, one does no thave a clue if the 10,000 represents a bearish or bullish sentiment...sorry, wish it was this easy