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I agree with you Mark, apparently we are in the minority on this thread! :D

What would you call them then?

good luck and remember trading is a marathon and not a sprint. Take the proper time to learn this game, be humble and try and learn something from each and every trade, good or bad.

Cant ever underestimate the importance of discipline, I agree wholeheartedly.

I beg to differ. TA, even the classical patterns in books gives you a basic idea of patterns that the mkt prints time and again. BUT, learning to trade them I think works really well AFTER you've learned to read price action. For instance, you see a "cup and handle" forming. Now TA alerted...

Liquidity isnt an issue, if you can trade 5 lots, 50 lots should be mechanically the exact same (no slippage). My guess is either this guy is just content with his current level of earnings or he tried sizing up and, even though the trades were the exact same, he couldnt trade size the same way.

I dont know about sims but you can use camtasia software to record your screen during the day (ie your trading platform, charts) and then replay the day when you get home from work to get accustomed to the mkt as if it were trading live. This is a great way to learn if you cant spare the time...

Dont knock the scalpers, a very good scalper can out earn most anyone with the least amount of risk :) That being said, I am powering down, only because I am going on vacation tomorrow for a week. If I wasnt, I'd still sit here and trade trade trade :D

When is the "airing of grievances"? :D

For a beginner, I'd say the leverage is fine, as I am sure they will bump you up as you progress. Honestly, 1 penny a share is high but 98% payout is fair. If I were you, I'd try and negotiate like half a penny per share and offer them like 80% payout (instead of 98%). Believe me, your payout %...

Mike is correct, DOM=depth of market

Its a tool (through Quote Tracker) that projects out the volume of a given bar while its forming, it will decrease or increase as the bar becomes more mature in response to the amount of volume being printed. The last bar with the checkered volume is the bar that is currently still forming...

I'm not sure I understand, maybe I am using the term "DOM" incorrectly but what I am posting is my MDTrader (market depth) which shows five levels of bids and offers vertically. This doesnt cost me any money to have, I get it free because I trade on the version of Xtrader offered by my broker...

which is why I always tell people, if you want to get into trading fulltime, you HAVE to be 100% commited and passionate. Otherwise, you wont be willing to put in all the hours of work required.

Just watch the DOM and/or record it for the next full year and study it everday in conjunction with the chart of your choosing (1min, 5min) and see what patterns you see. If you have good pattern recognition skills you should get giddy once you realize how the two (chart and DOM) work together...

Whoa, you sound like the one assuming that the DOM is ONLY used to see placed orders. I told you specifically that I dont use it for such and find the DOM very valuable. Ebb and flow of price action is seen here, in its purest form.

Personally, I use the DOM and it works for me. I dont focus on bids/offers, I focus on the tempo with which bids/offers are moving up and down. Given the proper context, its movement makes good sense to me. Think of a defensive end in football, trying to time the cadence of the quarterback...

DOM patterns repeat over and over again, just have to make sure you are in the right context to make the correct trading decisions. Really hard to explain but staring at all the action on the DOM and also knowing where I am on the chart allows me to understand how to jump in at the right times...

I use: 5 min ES bar chart w/ volume Pro rated volume tool DOM (to gauge price action/place orders) thats it :) oh and live news feed for econ releases, news etc

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