How to Use the DOM For Day Trading

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[@TradesbyMatt]

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[@darinvi-trading]

Also orders coming back are important!

[@BuildWealthTG]

you need level 2 data for this, right?

[@arunidiculla5622]

Nice setup, can you please let me know how to look for Level 2 data in tradovate ?

[@7wolfz]

Thanks Matt 🙏🏼

[@legends156]

Is this level 2 data?

[@psychohacks3205]

And that's essentially how you get spoofed. Watching Matt trade is like watching a car crash. It hurts to see but on the other side you just cannot look away

[@Tailong]

The guy has been profitable for years,so I don't know how much a car crash he is... Also spoofing is not that common in the indexes or big cap, it happens but is not like the low float crap stocks

[@orangastang5291]

This dude has made millions live lol

[@psychohacks3205]

@@orangastang5291 no he has not and he keeps deleting my posts in which I show the proof

[@MFG2738]

Sorry you don’t know what your talking about. I’ve seen in real time this strategy being used and working. Maybe you tried and failed because your execution wasn’t good enough due to not enough hours being invested into the craft?

[@joesherry6732]

Another guy posting a random shit post then disappearing forever cause they can't come back when being called out for how dumb they are

[@NeoSteinhoff]

What platform do you use

[@snowleopard9580]

are these numbers on bid and ask side the amount of open contracts?

[@Kaisha888]

Are these limit order are not yet execute or the order that have been executed?

[@fornello123]

The 2nd and 4th columns are limit orders. Leftmost column looks like daily volume profile.

[@honestrob6993]

Cheers Matt appreciate you man

[@frankartale1026]

I found you through Daniel Inskeep when u did the challenge. I been lookin into investing for about 3 months. I think you may be the guy to follow.

[@traderB1505]

Dom Mattness 😛 great short sir

[@johnddonnet5151]

But how do uou trade them?

[@chizoba00127]

Wow! I followed

[@marcelloporzionato1221]

great video but i have a question. take for example the nasdaq futures. what is nasdaq? the nasdaq is an index, an average of the price of the underlying companies. what moves the nasdaq? the quotations of these companies (as well as the monetary policies of the banks, etc.).. so the question is... if the nasdaq moves based on what composes it.. what do we need to see supply and demand for its derivative? the derivative follows the index. no supply and demand on it. Thanks for the reply

[@fornello123]

Great question. Matt is trading the *futures* contract of the index. Market participants are trading what they believe the index will be on the expiration date. anyone who is still holding a contract on that day gets paid or has to pay the difference between their entry price and the actual index close that day.

[@Josh-Jones]

The answer is that the derivatives can also move the index! This happens all the time in a huge market like SPX options. Index options can actually cause constituent stocks in the index to move. For example, if volatility supply is high and the index is pinned, a component stock which moves higher may in fact cause a completely unrelated stock to move lower in order to keep the index arb'd to the component prices.

[@casudhanshuabrol]

Which app is you using for this dom?

[@areenkhokhar]

Cscalp

[@STOCKBOY-fu5sd]

Where do you find these footprint charts what service?Thanks..

[@MindOverMatter____]

Want to know either

[@FUTURES500]

i think he uses sierra chart

[@matus6021]

atas platform@@MindOverMatter____

[@Andrewgamer92]

How do you change time frame?

[@monikajurkova8246]

of what

[@barendvanas1666]

Where do I get that DOM to look at it while I’m trading?

[@shillmonger1]

Did u find one

[@barendvanas1666]

@@shillmonger1 I’m on a different platform now

[@zeeali7463]

what trading platform was that ?

[@wulfW]

Sierra Chart. He probably answers this like 50 times per day lol

[@nc1975]

@@wulfW Can you trade off the DOM on Sierra Chart? I like the way TOS dom works but the fills are terrible.

[@user-zo9oc4zr9y]

What software do use sir

[@wulfW]

Sierra Chart

[@mohankolhe2082]

​@@wulfWhow to see?

[@mrm1327]

Smashing my head into the keyboard would be more effective than this.

[@kiliankraus]

Really? I can understand they shouldn’t be relied on solely, but not even as a little confirmation after everything else is looking like a good trade to take?

[@nickytmusic1004]

Hahaha

[@mayanksingh423]

Whats dom?

[@fabiennevdk7045]

Depth Of Market

[@whimsythecrypto-hippy-wolf1900]

Are u related to mr beast?

[@michaeldunn5156]

Can the DOM be used in place of Volume Profiles?

[@kiliankraus]

In my opinion no. There two main reasons: 1)The Dom is about what orders are waiting to happen in the FUTURE, whist the volume profiles take into account what’s already in the PAST. 2)The Dom doesn’t show where market orders are being placed. The volume profiles may give you some info on where huge market orders and fills are occurring. The Dom only shows were large fills will (likely) happen.

[@kiliankraus]

That said, sometimes they may show similar information at times, and that’s normal, but that’s not always the case, hence why it can be useful to use both

[@institutionalinformant]

DOM and Times and Sales = Better than volume profile. Plus, see them grey figures on the left of the dom? Thats the history, If that was placed on the chart that would be a volume profile

[@vsanden]

I don't understand it, I would expect it to be other way around this market wanted down

[@rbnsWRLD]

people have orders waiting to be filled at those levels so if there is a large amount of sell orders above, it may push upwards to fill those orders

[@institutionalinformant]

It would. This is where context is needed. If a large order of stacked limits sits above you then price tends to run away from these numbers, However if price pushes them numbers and fills the stack, Youd want to be watching the price levels to see if the price that the stacks got filled at hold or not. If it sweeps the Stack and holds above it, Even by 2 points then its a sure sign the markets going to rip. This is where ''spoofing'' comes in (Manipulation) Players place large stacks at a level to protect their position in hopes that price will rip away from it, and if price moves towards the stack they remove the limits

[@sameladlani620]

​@institutionalinformant your clearly really good at using dom please if you don't mind me asking what platform can I use this on eg for the UK also could I implement this into my day trading strategy

[@rayhustles1876]

At least get a better DOM that actually shows order flow as well

[@allan-mccombs]

I'm also looking for volume, you have a $30 microphone and I can't hear you. Listen to other shorts, then listen to yours. I shouldn't need to adjust my volume to be able to hear you.

[@blnkusr]

That's a shure sm7b that's like a $400 mic

[@allan-mccombs]

Then it must be the software. I watch others use iPhones and their sounds are fine. If he uses something like OBS, then maybe the sound settings he has on make it sound fine before he uploads.

[@allan-mccombs]

I have to turn the youtube volume at the highest setting and the volume button on the speakers at the highest setting to hear him. Do that, then change to another short video, it will blow out your ears.

[@ruitheus3778]

boo hoo, if you cant stand it, stop watching

[@blnkusr]

@allan-mccombs the shure sm7b itself is a great mic. It could be quiet if it he doesn't have a good enough audio interface to support the gain volume or if he just didn't adjust it right. A good audio interface for that mic is usually pretty pricey though (mine was $600 and that's the cheaper end of that spectrum).

[@ondrejadamekoj]

This is not how you trade on the DOM 😂

[@jackthegod9988]

Talking to say nothing

[@monke2303]

Spoofing *exists*

[@gulletali8418]

Yeah but when its get very close they should exit or its acually real buyers

[@institutionalinformant]

If you cant see a spoof, you shouldnt be trading.

[@user59371]

@@institutionalinformantI don’t think a retail trader has the tools/programs to tell the difference?