Should the DOM have 10 levels

[osorico]

Quote from fearless9:

Well I am with you Osorico.

No matter what traders do, they have to pass through the T&S gate in order to enter the arena and I prefer to watch the action here. (obviously with a filter)

Yea. I was going to mention T&S is THE reliable volume indicator, but tape reading is a different topic.

 

[whitster]

i don't care if the DOM was 20 levels deep (i trade cbot so i see 10)

there is a lot of fakery and gaming in the dom. a lot of hidden depth etc.

simply put, the utility for most people is not there. cause the dom doesn't show real buyer and seller interest, only what people put up as orders to create false impression

time/sales (tape) shows actual transactions, and is thus much more useful than DOM (or level II)

level II was prolly pretty useful for a while in the 90's, but has caught on too much to the extent that the smart money uses it to try to trick retail traders.

 

[Tums]

my excel worksheet shows 10 deep, but I seldom look at anything beyond 5.

 

[2006]

10 Deep useless IMO. There's already enough bullshit on 5 deep. Trade structure and setups.