What is the best DOM out there and why?

MotiveWave said:
How important would you say it is to view your estimated position in queue?
More...

For markets like the CME that report actual position in queue it's imperative that this information is provided. For other markets that don't, an estimation is fine.

PIQ is crucial for short term trading thick markets like the ZN, GE or BOBL. Not so much for volatile stuff like ES and CL
 
MrMuppet said:
For markets like the CME that report actual position in queue it's imperative that this information is provided. For other markets that don't, an estimation is fine.

PIQ is crucial for short term trading thick markets like the ZN, GE or BOBL. Not so much for volatile stuff like ES and CL
More...

There don't seem to be many broker/gateway connections that offer actual PIQ (CME market by order). Is there anyone else other than TT and Rithmic that are able to connect to a third party platform?
 
Last edited:
For manual scalping with a mouse ?

TT X-Trader hands down.

But you need to set it up exactly like their IT Department and your FCM tells you to. Read the TT hardware and software requirements carefully. If you are truly scalping spend the $500 per month on a dedicated symmetrical fiber line. You will also help yourself out by clearing a major Chicago FCM with collocated servers. Don't use an Introducing Broker - you are adding a layer of ECN risk checks and messaging. (sorry, I mean no offense to some sponsors)

YMMV, I wish everyone good fortune !
 
MotiveWave said:
How important would you say it is to view your estimated position in queue?
More...


Depends on strategy and instrument. As someone whom takes liquidity and in larger timeframes outside hft parameters; not-so-much.
 
MotiveWave said:
How important would you say it is to view your estimated position in queue?
More...

There are standard vendor features in addition to a plethora of custom plug ins for X Trader regarding order queue.

Queue position is more important in some markets than others. As was mentioned by another poster, queue is more important to some traders than others.

Queue is also dependent upon an exchange’s rules for a particular product - FIFO or Pro-Rata.

I would posit that queue is more relevant to less volatile markets with large sizing in the bid/ask. With CL outright, queue is largely irrelevant because the market will certainly trade through you. But with a CL March-April Spread that might be 300 bid by 425 offered - queue is more important and exploitable for a day trader.
 
We've added more advanced DOM features and enhancements in our latest version (v6beta1)...

  • the DOM will now re-center automatically based on a user defined amount of ticks that it’s trading away from the center point, as well as new columns:
    • Bid and Ask Volume
    • Bid and Ask Delta, which will show if traders are adding or removing liquidity from the order book
    • @Bid and @Ask columns, which will show recent trade totals at the bid and ask, with the ability to clear these columns when you choose
    • A Delta Volume column will show the delta at each price level
    • Improved volume profile column with a value area
    • A new option to have a single Orders column instead of two, so you can save space
    • A Notes column that can be used to add your own text notes for all important price levels. You can change the background color of these Note fields, move them to different levels and also add chart guides that will show up on an attached chart
  • You will now be able to save DOM templates, so all of your customizations will carry over to other DOMs
If there are more enhancements/features to a DOM that you would want to see, please keep posting the specifics.
 
MotiveWave said:
We've added more advanced DOM features and enhancements in our latest version (v6beta1)...

  • the DOM will now re-center automatically based on a user defined amount of ticks that it’s trading away from the center point, as well as new columns:
    • Bid and Ask Volume
    • Bid and Ask Delta, which will show if traders are adding or removing liquidity from the order book
    • @Bid and @Ask columns, which will show recent trade totals at the bid and ask, with the ability to clear these columns when you choose
    • A Delta Volume column will show the delta at each price level
    • Improved volume profile column with a value area
    • A new option to have a single Orders column instead of two, so you can save space
    • A Notes column that can be used to add your own text notes for all important price levels. You can change the background color of these Note fields, move them to different levels and also add chart guides that will show up on an attached chart
  • You will now be able to save DOM templates, so all of your customizations will carry over to other DOMs
If there are more enhancements/features to a DOM that you would want to see, please keep posting the specifics.
More...

You guys missed the easy, big money by a couple decades - but then again, Harris Brumfield knew that in 1996.
 
I'm board because Globex is down. I think because of dark pools and various order types, DOM no longer has value. See Chat with Traders episodes 171 and 156 about how Five Points Capital scalps the DOM.
 
MultiCharts and it's not even close. You can drag the price on the DOM ladder. And it gives PnL on the Price ladder too (which I know motive wave has that feature too)
 
You must log in or register to reply here.
Back
Top