Resource to learn trading DOM

[MPxtrader]

I spent a lot of time trading DOM. here is a thread where I lined up some concepts. The issue with this kind of trading is scalability.

My advice is to look at longer term trading.

https://www.elitetrader.com/et/threads/dom-acv-and-bid-ask-wall-used-tgether.103293/

Well if that thread is any indication...that's far from it...sorry.

Trading on dom or price ladder is irrelevant to your chosen holding time.

Some good suggestions given, mixed in with a lot of ignorance though.

 

[RedDuke]

Well if that thread is any indication...that's far from it...sorry.

Trading on dom or price ladder is irrelevant to your chosen holding time.

Some good suggestions given, mixed in with a lot of ignorance though.

Correct, DOM is only good for few ticks give or take. That is why I abandoned it.

 

[Traderstan]

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.

Thank you so much for the valuable information

 

[Traderstan]

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!

Heard about Propex, but don't think they do offer educational course. They offer in-house training for their recruited traders if I am not mistaken. Very competitive to get in too.

 

[MPxtrader]

Correct, DOM is only good for few ticks give or take. That is why I abandoned it.

Yeah only a few ticks..

I guess it just didn't work out for you.

 

[qlai]

They partnered with Axia for the full Price Ladder course which is good...best I've seen.

Which instruments do they trade? I don't think DOM specifically (vs orderflow, volume profile, etc) is applicable to such liquid instruments as ES or NQ.

 

[RedDuke]

Yeah only a few ticks..

I guess it just didn't work out for you.

And your point is? a human can only trade 1 Dom at a time, algos can infinite. I eventually matured to algos.

 

[qlai]

And your point is? a human can only trade 1 Dom at a time, algos can infinite.

I guess the question is - why couldn't the algo be adapted to go for larger moves?

 

[MPxtrader]

I guess the question is - why couldn't the algo be adapted to go for larger moves?

Exactly...a price ladder doesn't necessarily and automatically make you a 2-3 tick 50-100 r/t scalper...many use it as an entry refinement tool for whatever time frame a trader feels most in tune with.

 

[MPxtrader]

And your point is? a human can only trade 1 Dom at a time, algos can infinite. I eventually matured to algos.

Point is...your preferred trade "time frame" has little to do with using a price ladder. Just because many scalpers do really well on a price ladder doesn't make most price ladder traders scalpers.

btw that was not an algo...easily done with KB shortcuts.

another

There are specifics to look for using a decent ladder and no NT8 doesn't cut it.

Unless you know how to read...last trade quantity,bid/offer reloads,flipping conditions and trade velocity...you don't know how to read a price ladder.

Yes I have also added a few execution algos,but the above is what I have been manually executing on for a few years...just missing less now.

My last post in this thread...all the info one needs has already been posted.

Goodluck!