Hey, I just found something that looks interesting, and I’m wondering if anyone has used it or knows if it’s worth it. it’s called “OrderBookFX”. Supposedly this software allows you to see real market depth on FOREX majors on a global scale. Sounds a bit hard to believe, but if it’s true, could be an interesting little tool.
P.S. I just learned about Market depth, but I can’t seem to find anything for FOREX, that’s how I ran into this site. So if anyone knows of a better way to watch Orders for FOREX, than please post here. I tried Superdom on Ninja, but doesn’t show Orders, just price.
P.P.S. I’ve watched some Apex videos where Darrell mentions the SuperDOm in E.P.C trading. But is there a video that explains exactly how to use the Superdom in that kind of trading. I mean how do you know where the Resistance/Support levels are. I’m still trying to figure all of this out.
There software is having major issues not even allowing signups right now… at this point i would not trust it
They would have to pulling all the liquidity providers - ie via bloomberg etc… plus other data feeds from the major retail firms - to get a true view -
Its possible… but not likely that is is as broad as expected. Looks like its down for all subscribers at the moment as well. I will reach out to the owner and see what i can find out. If i hear anything i will let you know.
In the meantime use the futures fx data for DOM. ie 6e 12-13 for EUR/USD (the distance between spot fx and futures fx should be failry consistent throughout 1 day (the difference is due to the swap carry insterest) so
just account for the difference and you should be all set
The DOM is a style thing its not pure system… you have to watch it a lot (make assumptions) log those assumptions - then see if what you thought was correect - do this over and over for few days and you will have it down
For it to be really useful you have to see a major order block difference ie normally 100 contract - butyou see a 1,000 order block on a price - that is what is important
I can do some training on advanced reading of doms in the future if that would be helfpul
thanks for the reply. Yes if you ever do a advanced reading of dom, please let me known. It’s still difficult to even understand what you said in the last sentence about the 100 contracts, and block orders. I really appreciate your help. Thank you.
