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Important is your profit or loss? And from this point everything starts? When you have a lose you must exit and it will help to move price futher in that direction. Other guys see it and exit also. So the speed will be faster
Can you help answer these questions from other members on NexusFi?
Price movement and situation. Price movement AFTER you enter.
And how market behave AFTER you enter.
Based on that you have a list of decisions. Cover, partly cover, add, reduce stop loss value and others
Just to make sure I'm getting it right: when you say buy/sell is irrelevant, it obviously means we only care about price reaction to that volume. Is that correct? If yes, isn't it usually late to react? Somehow we have to place our bet before any movement starts. Or are we talking about reaction in DOM (increased limits, pulled orders etc.)? Confused here.
1. Am I correct that monochrome tape reading works only with DOM? Otherwise it seems we can get only "speed of tape" information.
2. When we talk about "Lure" effect, is it mostly used to deceive other Pros rather than a crowd (since few people are really watching the Order book)?
3. When you say about the context, can you give some brief push in the right direction here? Up to what extent/time you consider it so to speak... For example context could be what happend 1 hour back, but you won't see that on the DOM/tape (but you already forgot what was happening 1 hour back, too much time and action has passed since then).
I think this question corresponds with the initial one.
1. No. OHLC and swings are usefull too
2. Yes
3. OHLC and conjuncture - watch my vids. What happened 1 hour back so much matters as what happens yesterday.
Example today and yesterday at ES