Experienced futures scalpers: Chart or DOM

[marketsurfer]

Quote from Daring:

Chart trader, there's nothing of value in the DOM anymore, those cummulative #s and flashes don't mean a thing anymore.

Chart trading is moronic-- -charts only serve to make you feel good about what you should have, should not have done. Price Drivers move before price, charts are the past price only by default.

To see the Price Drivers working in the DOM, this software is the closest thing you can buy www.jigsawtrading.com . Its very close to the same way we read the DOM pre transction-- don't waste your time with charts. surf

 

[marketsurfer]

Quote from NoDoji:

I'm an intraday scalper trading CL and ES (10-25 trades daily) using a DOM to place and manage trades. I'm considering switching to trading directly on the chart.

I'm looking for feedback from experienced (>3 years) intraday futures scalpers who've traded on a DOM and directly on a chart comparing the pros and cons of the two methods.

You are going backwards-- the chart is an hindrance and not needed---- if you can't do it mentally without chart, use software similar to what we use for a component of Price Drivers www.jigsawtrading.com

Per the site: The bottom line is this: A change in Order Flow will appear before a change in price.

surf

 

[NoDoji]

Quote from marketsurfer:

Chart trading is moronic-- -charts only serve to make you feel good about what you should have, should not have done. Price Drivers move before price, charts are the past price only by default.

To see the Price Drivers working in the DOM, this software is the closest thing you can buy www.jigsawtrading.com . Its very close to the same way we read the DOM pre transction-- don't waste your time with charts. surf

Let me clarify:

Using charts to identify trade setups and pinpoint my entries/stops/targets has been working beautifully for several years now. However, I place all my orders through the DOM. I'm testing out placing my orders on the chart itself potentially to simplify the process and allow me to focus on one thing on my screen (the chart). I very rarely place trades based on what I see happening on the DOM, though it occasionally entices me, and I often hold a position for extra profit if I see large size at a level, knowing that more often than not price will go and test that size.

Surf, the price pattern on the chart is very often the price driver for me, allowing me get positioned before a large move takes place. There are ways to identify this environment using only a price chart. Bob Volman's Forex Price Action Scalping provides an excellent course in the market psychology behind high odds price action environments.

ADD: Regarding the jigsaw link, seeing what orders the big dogs have placed doesn't benefit me, IMHO. I prefer to learn to identify areas where trading at a particular price will initiate the power of greed/fear, or to put it in a slightly different way, will trigger algos to drive price significantly higher or lower. I especially like to see weak hands shaken out of the market and contrarians sucked in, then see price trade through a level where the contrarians have their stops and the weak hands chase the market to get back in. That, to me, is the ultimate price driver.

 

[oldtime]

Quote from NoDoji:

Let me clarify:

Using charts to identify trade setups and pinpoint my entries/stops/targets has been working beautifully for several years now. However, I place all my orders through the DOM. I'm testing out placing my orders on the chart itself potentially to simplify the process and allow me to focus on one thing on my screen (the chart). I very rarely place trades based on what I see happening on the DOM, though it occasionally entices me, and I often hold a position for extra profit if I see large size at a level, knowing that more often than not price will go and test that size.

Surf, the price pattern on the chart is very often the price driver for me, allowing me get positioned before a large move takes place. There are ways to identify this environment using only a price chart. Bob Volman's Forex Price Action Scalping provides an excellent course in the market psychology behind high odds price action environments.

you seem to place in high regard what men said, especially if it was in a book, like they know something more than you do, or anybody for that matter

 

[NoDoji]

Quote from oldtime:

you seem to place in high regard what men said, especially if it was in a book, like they know something more than you do, or anybody for that matter

When someone who has a lot of experience with something is kind enough to share their knowledge, whether through a book, a video, or a one-on-one conversation, I'm nothing but thankful for it.

 

[slugar]

Totally disagree about the charts there are rules to follow and if you follow the road map a chart gives you there is clearly an advantage with charts. I have never traded off of strictly dom but wouldn't dream of not using a chart and trading off of pure price action!

 

[Daring]

Quote from marketsurfer:

Chart trading is moronic-- -charts only serve to make you feel good about what you should have, should not have done. Price Drivers move before price, charts are the past price only by default.

To see the Price Drivers working in the DOM, this software is the closest thing you can buy www.jigsawtrading.com . Its very close to the same way we read the DOM pre transction-- don't waste your time with charts. surf

Nein, moronic is how you trade.

 

[oldtime]

Quote from NoDoji:

When someone who has a lot of experience with something is kind enough to share their knowledge, whether through a book, a video, or a one-on-one conversation, I'm nothing but thankful for it.

you are welcome, glad I could help, you already have more knowledge than most of the people you are talking to and buying books from and videos and one-on-one withs. It's just you chose trading and they chose writing books. Hope it works out well for all of us.

 

[marketsurfer]

Quote from NoDoji:

Let me clarify:

Using charts to identify trade setups and pinpoint my entries/stops/targets has been working beautifully for several years now. However, I place all my orders through the DOM. I'm testing out placing my orders on the chart itself potentially to simplify the process and allow me to focus on one thing on my screen (the chart). I very rarely place trades based on what I see happening on the DOM, though it occasionally entices me, and I often hold a position for extra profit if I see large size at a level, knowing that more often than not price will go and test that size.

Surf, the price pattern on the chart is very often the price driver for me, allowing me get positioned before a large move takes place. There are ways to identify this environment using only a price chart. Bob Volman's Forex Price Action Scalping provides an excellent course in the market psychology behind high odds price action environments.

ADD: Regarding the jigsaw link, seeing what orders the big dogs have placed doesn't benefit me, IMHO. I prefer to learn to identify areas where trading at a particular price will initiate the power of greed/fear, or to put it in a slightly different way, will trigger algos to drive price significantly higher or lower. I especially like to see weak hands shaken out of the market and contrarians sucked in, then see price trade through a level where the contrarians have their stops and the weak hands chase the market to get back in. That, to me, is the ultimate price driver.

Clearly if it works for you, I have no argument---I guess you have a way to get there the OLD FASHION way------I simply KNOW FOR A FACT that charts handicap data, there IS so much more there that is obscured by a chart. surf

 

[marketsurfer]

Quote from slugar:

Totally disagree about the charts there are rules to follow and if you follow the road map a chart gives you there is clearly an advantage with charts. I have never traded off of strictly dom but wouldn't dream of not using a chart and trading off of pure price action!

Charts are remnants of the pre-PC way of doing things. They have lost their relevance to everyone but the very very unsophisticated.

Back in the old days charts are all there were--- now, using computers to draw charts rather than using them to analyse the pre-trade data is an exercise in stupidity. I can tell you what will print on a chart prior to it printing-- who has the advantage? surf