How to use market depth to determine trend and more?


#1

I have seen buyers are more than sellers so we can assume that price will go up but it goes down many times so how can I interpret this market depth …(which often misguides)


#2

its fake news


#3

Had it been that easy to trade depending on number of sellers and buyers, every trader would have been millionaire


#4

You are scratching at a surface of an old school skill call tape reading. Well, you know the word now, good luck, scaling the everest. Yes you can, it’s in your mind.

And never assume in the market. Assumptions, opinions are best left for novices.

You think price ll go up. Don’t think. Thinking it’s for novices. Oh, then you assume, this ll happen. Don’t assume, assumptions are for novices.

Well then, everyone starts somewhere. Even pros start as novices. You being here, signifies your interest in market, you trying to snatch a meal from the sharks.

It’s never easy. But not impossible.
Damn! What am I typing. Market depth, yeah, it’s a totally different realm of looking at the psychology of the participants. No, it’s not fake. It’s in front of you.


#5

Could you please elaborate on your way of looking at market depth, could you elucidate on what you meant by " realm of psychology" ?


#6

I agree. I am on a similar path but not exact. Just that data in itself will not help. It has to be studied further. Will take a lot of work to arrive at the top of Everest. But I think it will be worth it. Win probability increases very much !


#7

Market Depth provided at this level is useless. You need full orderflow to rely on that data.


#8

Its not useful , learn about market profile and volume profile , you can be one hella trader.


#9

If U know support, Resistance Along with Break out then u can Do proper trades
Else u can’t predict whats going to happen next
So First learn Technical Analysis


#10

More buyers doesn’t mean prices will move up.
It is opposite most of the times. Buyers don’t want to buy at higher price. They buy low. Buyers keep adding positions when prices move lower.

But you shouldn’t trade based of this value. Since most of the traders are intraday, they are in for short moves. Their positions don’t add any value to the overall trend.