Quote from nukethewhales31:
i did answer your question read again
you can not predict the future with accuracy thus you are taking random entries with probability of things happening in the future aka preparing for when price moves in your favor ....................................
one leads to the other quickly... but the other doesnt lead to the one quickly.
so when you look at the chart without anything on it clear your mind watch the next bar form... understand why and how the bar forms and why it ends up looking the way it does in live action not after its closed.
so whats your ultimate goal?
these araes show up on the market profile,they are single prints,1 letter at the top and 1 letter at the bottom, they also show up on the dom,not always,but if avg bid/ask size is 250-700, and it all of the sudden is 5000 bid and 5000 offer,you've hit one of those reversal areasQuote from brownsfan019:
I did not watch the vid's Iron but my guess would be buying/selling at low volume areas could be something to consider b/c historically those areas have shown to be quick rejection areas.
In other words, where this is heavy volume = big players gathering contracts; low volume = areas that typically were quickly rejected due to quick and swift buying/selling and no interest by a counterparty to fight back.
In theory, the low volume areas could show where the bulls or bears have previously come in w/ 100% conviction to defend meanwhile the opposite traders said no thanks.
Assuming that theory is correct, you could attempt to pick off these spots assuming what happened previously will happen again. I'm not sure how you would find these areas (perhaps the videos discuss this) and would obviously require some testing.
Quote from Bingoking:
That market price action you are seeing in the DOM is the same market you are trying to trade with a chart. The only difference is the DOM is present tense and the chart is past tense. Length of bars/candles is a direct reflection of the action that just took place in the DOM. A lot depends on the time frame you are trying to trade and what your expectation per trade is. For longer term moves I would not use the DOM. But for shorter term trades I think it is the way to go.
Gotta run, be back later.
in the statement ,you are not cut out for trading,if you were in a lifeboat surviving a shipwrecka nd you said i'm not cut out for rowing,you would die,if you said i will become the best rower ever,you would surviveQuote from fearless9:
ntw31
You are one of very few people who have written a reasonably clear understanding of the essence of trading.
I would suggest to readers that if it is not clear to you, it is because it is not clear to you.
In other words, you own the problem and you may resolve it through a change in attitude, or most probably you are simply not cut out for trading, and in the confusion of frustration you cannot see that either.
regards
f9
Quote from ammo:
in the statement ,you are not cut out for trading,if you were in a lifeboat surviving a shipwrecka nd you said i'm not cut out for rowing,you would die,if you said i will become the best rower ever,you would survive
Excellent post ... probably the most meaningful post on the thread.Quote from fearless9:
ntw31
You are one of very few people who have written a reasonably clear understanding of the essence of trading.
I would suggest to readers that if it is not clear to you, it is because it is not clear to you.
In other words, you own the problem and you may resolve it through a change in attitude, or most probably you are simply not cut out for trading, and in the confusion of frustration you cannot see that either.
regards
f9
Quote from fearless9:
ntw31
You are one of very few people who have written a reasonably clear understanding of the essence of trading.
I would suggest to readers that if it is not clear to you, it is because it is not clear to you.
In other words, you own the problem and you may resolve it through a change in attitude, or most probably you are simply not cut out for trading, and in the confusion of frustration you cannot see that either.
regards
f9
Quote from IronFist:
What is his reasoning for saying you should buy/sell at prices with low historical volume on the DOM?
Also, watching the vid of his DOM... it updates like once per second... is that normal? When I watch my DOM, it updates like 50 times per second, which is why I say DOM moves too fast for humans to trade off of.