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I don't know what to make of it. Spent a long time trading retail forex and watched the markets change drastically in the last ten years. So now getting my feet wet in futures and I find myself back full circle to my equity days as a stock broker sitting at the desk staring at the tape for six hours......
I find this ironic.
I guess I should take it as a grain of salt cause scalping is what helps you stay in the game and is the life blood of your account away from longer momentum and trend plays.
Anyone else through this?
Can you help answer these questions from other members on NexusFi?
Never touched Forex market because of the un-centralised nature of it.
When I read the Tape reading book, I can't remember who was the author may be Livermore, I got hooked. Another member of this forum is the great DOM reader he also added fuel to the fire. So since then I've been on the mission to make it work.
So I've been staring at the DOM for last 14 years on and off. All I can say I am an addict DOM reader.
In my humble opinion you should grasp it in about 6-12 months. You should see the trades. With a current market volatility 5-10 ticks is can be easily done.
The hardest thing I found is being discipline. What I mean by that is seating and waiting for what you need to see. All this years I've been dealing with a demon in my head that knows how to push the buttons to make me go off. This is why I am still a beginner.
I am keen to hear what exactly you do.
This is examples of my trades that I took based on DOM. What's funny with a stat's like this I still blowing up accounts when DEMON takes over.
This is not to show or anything. This is to relate to your other post where you mentioning that algo's taking your stop order. All you need to do is to understand when to get in and be a discipline about it. The longer you watch it the easier it becomes.
Let me also recommend you to watch the "NAV - the bedroom trader who outsmarted the Wall street".
He figured it how to read the DOM and took the algo's to his advantage's. Something to thing about right ?
Day1
My thought is You got to LOVE IT and enjoy the journey.
misc... Jigsaw youtube videos. Gary Norden has some talks about OF. Jigsaw used to offer a money back trial period, don't know if they still do or not.
PriceSquawk uses sound effects for certain OF movements. 'Fat Cat' has youtube videos about tick drills.