Order flow basics - What is the DOM? Why is it useful? What do the numbers mean?
No BS Day Trading No BS Day Trading
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 Published On Aug 14, 2016

Part 1 of this video covers the absolute basics of order flow. It explains what is shown on the DOM (a.k.a. depth of market, ladder, order book, depth and sales). Many new traders want to learn more about order flow but they don't even understand the basics of limit orders vs market orders, uptick/downtick, why price changes, etc. Part 1 explains all of this in great detail and after watching it, you should clearly understand what you are seeing on a DOM.

Part 2 explains why the DOM is useful.
Part 3 explains the impact of unnecessarily giving up the bid/ask spread

Experienced traders who understand the DOM and price movement may want to jump straight to Part 2.

Intro
04:11 - Part 1 - The Basics
42:55 - Cumulative volume profile
46:45 - Placing orders
55:20 - Part 2 - Why is the DOM important? How is it helpful?
1:23:11 - Part 3 - Giving up the bid/ask spread and its effect on P&L

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