Which things make that better than a normal DOM? The volume levels?
Wait, is this actually how people scalp?
- Thread starter 1a2b3cppp
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It is a normal DOM. For a basic point and click scalper, Sierra Chart will do the same job. In fact, for my needs I prefer the Sierra DOM over the TT DOM.
LOL ! I dont think it is possible you know me haha
Yes, you have to try yourself to see what works for you, what market feels good for you. But there is so much to choose from, it is great !
Maybe one additional hint... if you are just starting and you want to go the scalping way, you have to know that without low cost structure (total cost per RT) it is almost mission impossible.
If you are just starting and you dont trade high volume (lets say less than 5000 contracts per month), it will be tough to negotiate low commissions with your broker. And it probably does not make sense to lease an exchange seat yet.
The solution to this might be the Eurex. They have the lowest exchange fees around, and even with a standard retail broker, you can get your all-in RT cost down to something like 1.00 EUR for contracts like FESX or FGBL (which are great for scalping), or something around 1.50 EUR for the FDAX (also good for scalping). With such a cost structure, you are very close to what prop trading firms are offering their traders in London, and you will have one thing less to worry about.
If you pay something like 4 EUR or USD per RT... better forget about scalping. You will not be net profitable.
How do they trade at night? I'm in PST and the normal stock market goes really early. Something that flows at like 3pm here would be awesome.
Can you get totals for the orders on the bid side and totals for the orders on the ask side? TT does not have that.
ES
ES
Infinity does not have that, but SierraChart does for the charts but not on the DOM. Well, real SierraChart might, right now I'm using Infinity's version which is dumb and has all the awesome functions removed.
I am in Europe, so it is not night for me when I trade Eurex
Eurex is trading from 8am till 10pm Frankfurt time.If you need something very nice and liquid for later in the day/ night in your timezone, you might try the Nikkei futures. The mini Nikkei future is very similar to the ES, good to trade.
Or you could just trade the last hour in the ES and NQ, usually there is some good action before the cash market is closing.
If you want to make some quick headway, the Jigsaw Trading videos are pretty good and the software parses what you are asking about.
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TY athlonmank8.
I like this too! For even more ticks. But don't you try for more than 1-tick scalping with this method?
But when the trend turns what happens? I guess you know it is turning by how many SL's you begin to accumulate on your extremely short term "slice" of this?
ES
P.S. Athlon..I was rather sad on Friday as I only made 1 tick total off of trading the DOM alone . I need DIRECTION to get confidence to widen my tight stops but I do not trade overnight.
I like this too! For even more ticks. But don't you try for more than 1-tick scalping with this method?
But when the trend turns what happens? I guess you know it is turning by how many SL's you begin to accumulate on your extremely short term "slice" of this?
ES
P.S. Athlon..I was rather sad on Friday as I only made 1 tick total off of trading the DOM alone . I need DIRECTION to get confidence to widen my tight stops but I do not trade overnight.
Scalp in the direction of the Weekly/Monthly chart. Build a system to trade in the direction of those highs or lows. This is going to be your trend
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