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##"Markets move up when their are no sellers left at the ask price##
Something is wrong I think here. If there are no limit sellers (offers sitting above the market price) then there is no way market moves up. On the other hand if at a level there are no aggressive sellers meaning there is no one to sell with market order then there is no way market moves lower. Is there a possibility the statement that you read is meant to repfair to other matter or you didn't understood it well ? Because as you write it... it makes no sense.
##"Markets move up when their are no sellers left at the ask price##
Or this example could be simply mean that if market Is offered at price X and there are 1 limit order siting at the offer then the only way to move the market higher is that 1 market order hits that offer so there are no more limit sellers at the offer now and who ever want to buy with a new market order he will be the one that will move the price higher..
Or maybe if you rephrase the statement as
##"Markets move up when their are no sellers with limit orders left at the ask price X and a buyer is hitting the market order button to hit a limit sell order assuming there is one offered at the next level which is X+1##
So it seems like the depth is a pretty good tool for speculation, in a way you can actually see the order prints within the depth itself, just inversed and mixed with people pulling/placing their limit orders.
What benefits do you find in reading the order print columns? personal preference? alot of these newer DOMs are super nice with all the order columns but apparently a fair few prop guys made their money on TT X_trader not all that long ago.
@Revan I find being able to read both together to provide superior insight then either in isolation. That is basically why i made my own software and what is shows me. Right, the problem with attempting to just read the depth is that it is very micro scale and it can be faked or simply highly volatile due to changing conditions: the orders cannot be faked but if you don't have the depth you are only seeing part of the picture. Even though the depth can be faked, I find it to be useful too.
Look up a vendor called Jigsaw trading, find their youtube videos and then watch them as they cover the basics in a very understandable fashion, and provide good detail as well.