If you are new to order flow, two tools will teach you more about market mechanics than any indicator: the tape (time and sales) and the DOM (depth of market). This beginner's guide explains what each shows and how to start reading them.
The tape (time and sales)
The tape is the live list of every transaction: price, size and whether it hit the bid or the ask. Reading it teaches you to feel the market's rhythm.
The DOM (depth of market)
The DOM shows the resting limit orders above (offers) and below (bids) the current price. It reveals where liquidity is sitting.
How to practise without risk
Once the tape and DOM feel natural, footprint charts and delta become much easier to interpret — they are just an aggregated view of the same information. When you are ready, our order flow indicator puts it all on the chart for you. New to this? Introduce yourself and ask questions in this forum — everyone started here.
Educational content only. Trading involves substantial risk of loss and is not suitable for every investor.
The tape (time and sales)
The tape is the live list of every transaction: price, size and whether it hit the bid or the ask. Reading it teaches you to feel the market's rhythm.
- Trades at the ask (often green) are aggressive buyers.
- Trades at the bid (often red) are aggressive sellers.
- Large prints flashing through tell you a big participant is active; a cluster of big prints with no price movement is absorption.
The DOM (depth of market)
The DOM shows the resting limit orders above (offers) and below (bids) the current price. It reveals where liquidity is sitting.
- A large resting order can act as a wall — but be careful: spoofed orders that vanish when approached are common.
- Watch how the book refreshes. Orders that keep replenishing as they are eaten signal genuine intent.
- Thin areas in the book are where price can move fast.
How to practise without risk
- Open a simulated/replay account and just watch the tape and DOM on a liquid instrument for a few sessions before placing a single trade.
- Start on one liquid market (an index future or EUR/USD futures) so the tape is readable, not chaotic.
- Keep a journal: note what the tape did right before a turn. Patterns will start to repeat.
Once the tape and DOM feel natural, footprint charts and delta become much easier to interpret — they are just an aggregated view of the same information. When you are ready, our order flow indicator puts it all on the chart for you. New to this? Introduce yourself and ask questions in this forum — everyone started here.
Educational content only. Trading involves substantial risk of loss and is not suitable for every investor.