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Because Forgiven is going on how dom is used by professiomals.
I then wrote are they using doms "exusively", you then quoted my statement immediately after saying Cqg, tt are all you have seen,
and if one did not know what those were they could believe that all prop firm traders use are dom.
When in effect they use charts and fundamentals and a whole cope of things.
What could be further confusing is some people in this thread through their posts displayed they do not know the difference between the bid and the ask on a footprint chart or what actually moves the markets.
I deleted my recent text cause I felt it was redundant and wanted to be respectful.
I never want to appear arrogant and say my experience is the only experience.
In the past, you had more of "pure" prop guys who may get ideas from fundamentals, charts patterns, etc. while they execution may have come in a variety of ways. Nowadays, I see more quants and spread traders amongst the props.
Spreaders use DOMs. Quants use direct APIs.
Prop business has become difficult nowadays. I saw more prop shops turning to education and "training" (in the last few years) because the pool of talent has decreased.
Matt Z
Optimus Futures
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what foot print charting do you think morgan stanley and goleman are executing from. i am not going on about professionals using doms..there is a reason xtrader does not have foot prints. professional trader do not us them. it just a fact. all the orders on foot prints have already been executed. the are lagging are they not.
There are various grades/levels of professional traders.
I'm sure some do use(d) footprints, I know a few individuals that trade their own money that do, some former floor traders.
I don't know who Goleman is.
Re- footprint lagging
Yes they display where orders occurred. But isn't that a good thing? Knowing where mm size occurred. Then you know where to watch.
you use bookmap it has volume profile to see the HVN or where they occurred. you will not use the OFA foot prints in time. it took me 7 years to let them go. that is GOLDMAN SACS they are not using OFA for order execution. the problem with the OFA program and foot prints is your brain washed that you can make a 4 to 8 tick stop work. good luck with that
according to your logic you can't use volume profile, because that certainly is lagging. is it not? so what you're saying is that professional traders only look at limit orders? as per your logic they can't look at market(able) orders because they're already executed when you see them. lagging again. damn those professionals are in a tough situation.
sorry to hear it took you 7 years to realize you still don't understand footprint charts.
but I do agree with a 4 to 8 tick stop being difficult to make it work. I prefer to use a 3 tick stop.
Yes I use bm and footprint.
Small stops can be used with orderflow. It is also market dependant.
As was said, it's unfortunate you recognized footprints were not for you after 7yrs.
For effective footprint use, you should only be looking at it near key levels, not the entire session.