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congratulations!! to know with a 1 tick certainty if you're right or wrong is truly an amazing edge.
even more so knowing that the price ladder (especially inside bid/ask) is very often just an approximation at best. if I'm not mistaken, the exchange is sending 2 different feeds. 1 for executed trades and 1 for bid/ask (what you see on your dom). often those feeds can't keep up with each other. a good example is when you see trades above or below ask and bid. or in between of course. the only dom that shows correct data is the one at the exchange.
me personally, I prefer to go with the facts. like the executed trades on a footprint chart. also I certainly don't need an arbitrary 8-12 tick stop to know if I'm right or wrong.
of course this is just imho, and like always, to each his own
I'm a volumeladder (footprint) chart trader and you can use the same stop 2-3 tics than trading with the dom. If you know how to read them, no difference.
There's no point saying this is better than that because it all depends how we look at things.
Every order flow tool shows the same thing. The data is the same, how much volume traded or is trading at this exact price.
The DOM add to the reading the limit orders that are in the market and forever changing which for many people is just noise, hence the reason they prefer footprint charts.
Others don't like footprints because it can add too many price points with HVN/LVN for them to follow, hence the reason they prefer the DOM.
When talking about John's course and DOM trading we need to take notice that we're talking about Jigsaw tools and not a Ninja alike DOM.
We can say that a Jigsaw DOM is capable of giving us footprint information, something that a standard DOM can't.
They are similar tools, showing the same thing but in different ways.
Knowing in 2 or 3 ticks (or 1 tick) you're wrong in the trade... it all depends of the market you're trading.
US treasuries, for sure, slow market, ZN can create very defined areas/steps in the profile that you can use a 2 to 3 tick confirmation area because that is the way that market trades.
But in other markets, such ES or even worse, CL, a 2 to 3 tick range for an area of confirmation is suicide because they are fast markets and can easily run 4 or more ticks in a single blow.
If I become half a percent smarter each year, I'll be a genius by the time I die
Agree with you, this is why I use a footprint chart with Dom information. Both systems are really good tools to take professional decisions. There are good tools out there, that can help to see what John's course teaches.
In the intermediate course he does have trades from TT which he used to use prior to switching to Jigsaw. Personally I found XTrader much more difficult to follow. The split prints on Jigsaw are much easier to follow and give a better sense of market direction.
Indeed. And Peter says he just could not follow what was going on trying to read the DOM on other platforms such as XTrader, which is why he thought of it.
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
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Peter @DionysusToast first created Jigsaw Depth&Sales in Excel hooked up to Ninja 7 way back when ...2010.... for himself...later it became what we now see..... he did not know anything about C# back then....
All – I got a bunch of data off this forum yesterday which I will be using to do some probability analysis of some of the setups I use. This is excellent stuff and in return I would like to give something back.
First – let me tell you …
I'm very grateful for Pete. Thanks bro...........
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)