I definitely have to listen to your advice and dig into longer TF. For longer timeframe, how do you usually find your setup? Does it have to be technical analysis in this case then?Exactly my thoughts over a decade agoYou will evolve. Longer does not mean weeks, it could be hours or a day. You might be thinking that with smaller account (just an assumption), you can earn a lot more on shorter time frame, when the exact opposite is true.
Best of luck.
Resource to learn trading DOM
- Thread starter Traderstan
- Start date
I am fully automated now. Took years to develop it. All price action driven. DOM is fun in the beginning, but it then takes a toll on you. Plus I programmed lots of things to help me, not sure if you have this skill. Also, it is virtually impossible to back-test.
MotiveWave
Sponsor
If you're using Sierra Chart and looking at Jigsaw, I would recommend taking a look at MotiveWave's version 6 platform for DOM functionality. We're very comparable.
Yes futures. Either ES or NQ..
Now you’re a master! I do not think I have the skill set to do that. I’m still new to DOM trading so... a solid beginner
Does it provide education? Jigsaw does education and I believe it’s top notch.
MotiveWave
Sponsor
We don't have education courses, but we are pumping out training materials for our version 6, so all the functionality will be documented.
Opinion from someone who does not specialise in DOM trading.
- you don't want "how to trade with DOM". You want exercises and drills that help you develop an understanding for the DOM, get an eye and a feel for it. Focus on one market, get to know it like the dog you have had lying in front of your fireplace for 6 years knows your every nuance and "tell". My dog can trade my next move just be sensing how I stand up from my chair. You need to watch your DOM for 100's of hours for months to get that kind of sense for your chosen mkt. How you trade the DOM in terms of strategy is up to you.
- Jigsaw is just a DOM, and a nice one. They have numerous intro to DOM tutorials available once you buy their product. They are ok. But just recordings of past webinars to be honest.
- Jigsaw also re-sells Axia courses. So often Jigsaw course feedback is actually Axia course feedback.
- NoBS is not really a course, just a collection of mostly not that useful items, with some good stuff mixed in. I'm not sure what to make of it. I think very over-hyped, very specific to one market/method. Quite narrow minded. But, it is likely very valid and applicable and useful within the scope for which it was intended, despite being quite old.
- Check Price Squawk for some free DOM drills. Spend a month doing them. Everyday, 4 hours a day.
- Check Sierra Chart for a very capable DOM that can be configured in many different ways, and is naturally integrated into a very capable "do it all" platform. The generic DOM that you first see in SC is not a good example of what can be achieved on that platform. In fact, the first time you start SC is very off putting v.s. what is actually under the hood. Get ready for some of the worst customer service attitude in the industry as well. SC = no need to buy Jigsaw, but I think the market figured that out a while ago. Conversely, you wont really know how to set up your SC DOM until you become familiar with some of the functionality in the Jigsaw DOM.
- you don't want "how to trade with DOM". You want exercises and drills that help you develop an understanding for the DOM, get an eye and a feel for it. Focus on one market, get to know it like the dog you have had lying in front of your fireplace for 6 years knows your every nuance and "tell". My dog can trade my next move just be sensing how I stand up from my chair. You need to watch your DOM for 100's of hours for months to get that kind of sense for your chosen mkt. How you trade the DOM in terms of strategy is up to you.
- Jigsaw is just a DOM, and a nice one. They have numerous intro to DOM tutorials available once you buy their product. They are ok. But just recordings of past webinars to be honest.
- Jigsaw also re-sells Axia courses. So often Jigsaw course feedback is actually Axia course feedback.
- NoBS is not really a course, just a collection of mostly not that useful items, with some good stuff mixed in. I'm not sure what to make of it. I think very over-hyped, very specific to one market/method. Quite narrow minded. But, it is likely very valid and applicable and useful within the scope for which it was intended, despite being quite old.
- Check Price Squawk for some free DOM drills. Spend a month doing them. Everyday, 4 hours a day.
- Check Sierra Chart for a very capable DOM that can be configured in many different ways, and is naturally integrated into a very capable "do it all" platform. The generic DOM that you first see in SC is not a good example of what can be achieved on that platform. In fact, the first time you start SC is very off putting v.s. what is actually under the hood. Get ready for some of the worst customer service attitude in the industry as well. SC = no need to buy Jigsaw, but I think the market figured that out a while ago. Conversely, you wont really know how to set up your SC DOM until you become familiar with some of the functionality in the Jigsaw DOM.
Jigsaw starts with more basic orderflow with a price ladder.
They partnered with Axia for the full Price Ladder course which is good...best I've seen.
NoBs teaches more along the lines of context with price ladder orderflow.
Have not seen anything better but have seen a trader from Australia Propex...just as good.
good luck!