I've been posting a few videos on Youtube recently of my trades in the Stoxx. I thought it would be worth posting them on here too for anyone in particular who is interested in scalping off the DOM.
I have been scalping the Stoxx for the last month or so from previously solely focusing on the Bobl before the summer. For some reason the book thickened up in the Bobl and basically became algo heaven and totally untradeable for discretionary scalpers.
I use Market Profile and volume profile for my prep just to keep me out of trouble spots during my sessions. Also on another screen I have a 1,5,15 min chart for the Stoxx and the Dax just to give me an idea of where the market is moving if I take my eyes away from the DOM for a minute or two.
I've learnt a lot from looking at the DOM and had to change my strategy somewhat from moving from the Bobl where fading it can offer decent R/R to trying that in the Stoxx and getting run over a lot! You'll see a few of my first vids on Youtube of exactly that!
Now I mainly wait for larger volume to enter the market perhaps on a breakdown or breakout and judge whether it will be a sustained move and look for trade locations on pullbacks where either longs are liquidating or shorts covering from the initial push and I'll wait for new money buying or selling to enter in on second/third wave moves.
I'm really against selling the breakdown or buying the breakout level as a lot of the times in the Stoxx the market will headfake to suck in more of the other side and then push further which has shaken me out of a lot of trades. It has been an emotional weakness of mine in the past to take these trades but now one of my rules.
I'll monitor the ladder in the Dax as well to gauge the validity of the move as usually when they're are in sync, you'll get a sustained move. If not then they are potentially being controlled by spreaders buying one and selling the other which will either make me take trades off quickly or keep me out of trades altogether.
Descriptions of my trades will be on Youtube.
I also post the trade videos on Twitter for those that use the site:
Oh and apologies in advance for any quirky music that comes on, sometimes I hate the shuffle button on itunes or Soundcloud.