Is the DOM worthless?

TradingPilot

TradingPilot

I think the DOM is worthless for a small trader.
The only purpose I see with it is as a method to gauge liquidity at certain price levels.
 
Quote from TradingPilot:

I think the DOM is worthless for a small trader.
The only purpose I see with it is as a method to gauge liquidity at certain price levels.
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It depends, its all about what you are comfortable looking at. If you prefer an L2 style or a DOMS style. Whatever makes you money. I like order management using the DOMS approach.
 
I agree in that the DOM is useful for managing the trade.

But I can't find a use for the limit order information at the price depths.
 
Maybe if you look at it from a different light...

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1489644">
 
I only find it useful when huge size shows up because you know where a handful of inexperienced traders just got positioned... being able to judge if its real size or not definitely has an edge.
 
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