Experienced futures scalpers: Chart or DOM

Quote from Specterx:

I trade ES and use the chart only for order entry, generally going for targets of a few points (2-3). It works for me, but ES moves extremely slowly and I generally pre-place my orders well in advance. On something like CL you might take a little longer to adapt, or find that using the chart trader doesn't offer enough precision.

My question is, how are you finding ten trades a day on ES?
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I'm only trading ES in the last 30-45 mins, usually 1 or 2 trades. Most of my trades are CL, and you're right, while testing I found it quite tricky to get initiating stop orders placed quickly and precisely, but I was practicing 4x replay and using a 1min chart for the entries, so under real market conditions it probably won't be an issue.

If I was trading ES all day the way Handle (or PA Buster) trades it , I think I could find 40 trades a day. :cool:
 
Quote from Mercor:

Its amazing how so many of the posts misunderstood what you were asking about. You were not opening a thread about trading DOM only and no charts. You were just asking about a different way of entering your orders, directly from the charts instead of through the DOM.
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Exactly, no matter how I eventually enter my orders I will always have both the DOM and the chart on screen.

I appreciate everyone's input regarding the topic. Since I haven't heard any horror stories about placing orders on the chart itself, I'm pretty sure I'll be switching over in the near future :)
 
There really is zero difference trading from the order entry dom or from the order entry imbedded within a chart as long as each require a single click.

Donna: I still say CL has far less "rhyme or reason" for intraday swings, granted, CL is better for scalpers like yourself. CL would be a great choice for longer term swing trades if that was a style to be used.

ES is more predictable (rhyme or reason) so a kick-up in size will more than make up for less volatile intraday moves.

As emg might say about ES........... "when it works, it just does" Have a great day.... :)

EDIT: Would it not be better to have charting seperated from the order entry dom? I have seen charts in X go out and order entry dom still working as expected. That is where a second account with charting comes in handy........one on DSL one on cable.

Sorry to get off subject.
 
I am only recently a futures scalper (after 5 years escape to spot FX :)), but now find DOM very good tool for quick order entry/adjustment. So my vote is for DOM.
 
Must clarify that DOM is mostly used by me to quickly enter orders at the desired prices, not for analysis. Charts tell everything that happens in the market. Throw in some volume and delta and you get the whole picture. :p
 
Quote from cornixforex:

Must clarify that DOM is mostly used by me to quickly enter orders at the desired prices, not for analysis. Charts tell everything that happens in the market. Throw in some volume and delta and you get the whole picture. :p
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Wow, with this type of over confidence & market ignorance combined, I am surprised your account hasn't been slaughtered-----

Order flow is by far the most important aspect, Order Flow is just one thing not shown by "charts"--- how someone can say post transactional data has value because it tells everything that happens in the market is an oxymoron. It does tell what happened, but by then you are merely betting that whatever happened continues to happen or stops---pretransactional data happens while there is still time to effect the outcome which is your profit or loss, Everyone has the computer power to analyse the right data, but they would rather use it in a backwards way. I AM DISMAYED, but now know where the money comes from. surf
 
Quote from marketsurfer:

Wow, with this type of over confidence & market ignorance combined, I am surprised your account hasn't been slaughtered-----

Order flow is by far the most important aspect, Order Flow is just one thing not shown by "charts"--- how someone can say post transactional data has value because it tells everything that happens in the market is an oxymoron. It does tell what happened, but by then you are merely betting that whatever happened continues to happen or stops---pretransactional data happens while there is still time to effect the outcome which is your profit or loss, Everyone has the computer power to analyse the right data, but they would rather use it in a backwards way. I AM DISMAYED, but now know where the money comes from. surf
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No overconfidence here, just practical evidence as opposed to your theoretical assumptions. :)

If you know exactly how to read order flow, why don't you make consistent money with this technique yet?
 
Quote from marketsurfer:



.....how someone can say post transactional data has value because it tells everything that happens in the market is an oxymoron. It does tell what happened, but by then you are merely betting that whatever happened continues to happen or stops---pretransactional data happens while there is still time to effect the outcome which is your profit or loss, Everyone has the computer power to analyse the right data, but they would rather use it in a backwards way. I AM DISMAYED, but now know where the money comes from. surf
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I should say that a chart it's only tracking the past; it does not predict the future. You have to use your own intelligence to draw conclusions about what the past activity of some traders may say about the future activity of other traders.

People think that chart data analysis is unreliable because they tend to pick the one thing they are comfortable with. The problem is that no single technical approach works all the time. You have to know when to use each method. It is experience and gut feel what makes one know when to use each approach.

I should say that a chart helps only those who can read it or rather who can assimilate what they read.

Correctly reading a chart is not something that can easily be taught. and over time I'm under the impression that it is more of an art form than a science.

Best Regards
 
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