Another day trader bites the dust

[londonkid]

would this be the main reason topsteptrader is so badly considered

I dont think so. The main reason for topstep bashing is that the trader cannot pass a combine then go on to blame everyone/everything but themselves. Successful people dont generally do that they stfu and fix the problem and strive for improvement. Others see opportunity or dont comment as they have no reason to act out.

 

[wartrace]

That is such stupid thinking in this day and age of spoofing. The order tape is a fraudulent depiction of real intentions. Now if you can profit from the fraud, then you now have a good system on your own.

Fine. Call it "stupid thinking" if it makes you feel better.

Do you honestly think the only use of the DOM is to see how many contracts there are (might) be?
I use the DOM looking at these three things.
1) Is the book firming up following a move?
2) Are limit traders pulling their orders when the market moves against them?
3) Is a large trader adding to the inside bid or offer "fighting" a move? (iceberg order)

Why would I make a trade decision based on what is likely a spoof? If I see unusual large size four or five levels from the inside I start looking for #3 in my list. Is that spoofer trading opposite his spoof? Even if someone attempts to spoof close to the inside you will see them pull their order and add back in so the are at the end of the order queue. I trade the 6E and after watching the DOM you can see these things pretty clearly.

Could I trade off the DOM alone? No. I use the DOM, two tapes and a footprint chart. When used together it helps me see the order flow.