Live YM tape reading scalping - daytrading for a living

http://www.thedaytradingroom.com/tapereading/
While analysing some of my trading from Q4 of 2009 I came across this live trade I captured and thought I would share. I was scalping with 10 lots, scaling out to manage risk. Holding a core position and then re-rentering when the tape confirms.
See how sellers reload on the DOM, and how reading the DOM is just as if not more important that the time and sales window.

http://www.thedaytradingroom.com/

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[ImC00LyourNOT]

hey im sure you answered this somewhere but what DOM software are you using i use infinity AT i need a faster data feed though

[TheDaytradingroom]

@ImC00LyourNOT Hi that was Interactive Brokers DOM with tradestation in the background. I find tradestation pretty quick though these days for data.

[TheDaytradingroom]

Thanks Josh, I actually used the DOW cash 8300 level as my final target in this case and stuck my bid at the futures price equivalent. I like to use the cash market where possible to keep an eye on key levels.

The initial setup was based on a closing drive taking out the earlier days low causing traders to exit quickly. Even more fuel to this fire was the false breakout higher at 20:11 London time sucking in buyers who now become disappointed as the low gets taken out.

[talebi818]

True Market Technician, very nice trade

Can you do a vid on combating HFTs and Algos in the Futures markets? Been hard finding them since there is no level 2 for Futures.

Thanks

[TheDaytradingroom]

@talebi818 Thanks. A vid about spotting algos, nice idea.

[pipercolt1963]

You would think that 300 would have held, I wonder if he pulled that order before it hit it.

[DayTradersWin]

You may be interested in day trading, day trader, day trade videos - technical analysis - for wealth building

[joshdance]

Thanks for another great video-- at the end you show the dow chart--did you use this as your setup for your initial entry, and then you went to the DOM to scale out?