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Even if you are too slow, or it's not worth the cost (commission / slippage) to try and nick a tick on every opportunity, you can still learn to read the depth and games to perfect your own entries, run your trades longer, and have a better understanding of how many events will play out that day.
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As a timing tool it probably can't be beat. I would like to say that the reasons you give above are my chief motivation but it is actually more fundamental. Its simply a skill I would love to become proficient at. (I guess I shouldn't say 'master'). Nowadays I do find it physically difficult (especially on something like the ES) to actually take in the info. Last couple of months I have been watching the FTSE and every now and then pull up the T&S or the DoM and watch for an hour. After bumping the font size I can at least see whats going on its just a question of interpreting it!
Guess I am way to old to go and trade in a prop shop but I guess thats would be the place to really learn.
As an aside I used to use the DoM to enter trades but often found that I would be 'sucked in'. I found it hard not to scalp as your focus gets drawn into the wiggles and jiggles.