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Level 2 best platform?
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Level 2 best platform?

  #11 (permalink)
Elite Member
Gothenburg
 
Futures Experience: Advanced
Platform: ninjatrader
Favorite Futures: 6E, 6B, 6C, 6A, 6S, 6J
 
Posts: 31 since Mar 2016
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Thats great, i understand that all traders trade differently so no worries if you cant answer this. I feel like the market internals you use are really good but something ive wondered for a while is:

Internals can be very useful when trading futures, but do they work on currency futures aswell?

Anyway, a bit of topic.

If anyone know about a good platform offering a good level 2 screen please tell me

Happy weekend everybody!!!

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  #12 (permalink)
Market Wizard
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davethetrade View Post
Thank you so much for all the answers

I dont want to offend anyone using jigsaw, if it works for you than keep on with it. I feel like the good thing with jigsaw is that it has a function which detect iceberg orders for you automaticly and show an arrow on the chart which is very useful for beginners.

Personally though i think tradestations level 2 would be even better since i can see what kind of market makers that have limit orders on various levels, because then we can follow the market maker that dominate the stock volume vice.

If ive understand things correct tradestation is free for the first two months and than if i havent made any trades (or not enough) through them i need to pay 99 dollar each month for the platform? Does anyone know if i have to sign up to get the first two months or can i signup after the two month period and start paying? Because i would really try it out before deciding

I will try sending them an email but if anyone know i would love to hear. And hopefully it can help others aswell
Thank you

Level 2 for stocks is a slightly different kettle of fish. You can see MM there but I don't know that you can do the same with futures.

If thst's where your edge is I suggest you ask in a specific thread for equities. A minority on FIO but there are a few.

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  #13 (permalink)
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davethetrade View Post
Thats great, i understand that all traders trade differently so no worries if you cant answer this. I feel like the market internals you use are really good but something ive wondered for a while is:



Internals can be very useful when trading futures, but do they work on currency futures aswell?



Anyway, a bit of topic.



If anyone know about a good platform offering a good level 2 screen please tell me



Happy weekend everybody!!!



I think there might be a EUR VIX as an internal for the 6E also an OIL VIX I know for sure for CL but IMHO they aren't the quite the same as using the VIX for index futures and specifically for ES.

The internals I mentioned earlier won't work IMHO for currency futures.

Ron


Sent from my iPhone using futures.io

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #14 (permalink)
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Futures Experience: Advanced
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Im very openminded on what instrument to trade Ive been looking at stocks, but i also really like to trade on the currency cash market (spot fx) using currency futures as a guiding instrument.

Even if i cant see the marketmaker it can probably be used in the same way, slight advantage too have market makers id but could work without aswell i think.

Is anyone here using ninjatraders level 2 + time and sales. Is it accurate or is it a neewbie tool? ^^

Ron you where using the jigsaw right? Have you tried the function that plots arrow on the screen automaticly when theres an iceberg? Does it work or is it better/more accurate to still compare the time and sales with the Dom? Ive only heard about that function but really curious to know

And thanks to all, i wasent expecting this much answers haha, suddenly i dont feel alone trading over here

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  #15 (permalink)
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Level 2 best platform?


davethetrade View Post
Im very openminded on what instrument to trade Ive been looking at stocks, but i also really like to trade on the currency cash market (spot fx) using currency futures as a guiding instrument.



Even if i cant see the marketmaker it can probably be used in the same way, slight advantage too have market makers id but could work without aswell i think.



Is anyone here using ninjatraders level 2 + time and sales. Is it accurate or is it a neewbie tool? ^^



Ron you where using the jigsaw right? Have you tried the function that plots arrow on the screen automaticly when theres an iceberg? Does it work or is it better/more accurate to still compare the time and sales with the Dom? Ive only heard about that function but really curious to know



And thanks to all, i wasent expecting this much answers haha, suddenly i dont feel alone trading over here



IMHO definitely not a newbie tool... exact opposite... yes newbies play around with it and don't understand and can't use it ...much like my kids loving to watch SpongeBob SquarePants but not getting, in the least, the underlying adult humor peppered throughout.

Even better is Peters's (Jigsaws creator/owner) Auction Vista.... here is the circles are set to their least sensitivity or where you get the most of them on the chart.
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Four years ago I was using the iceberg alerts and their great if you have the right setting set up for the current market conditions but still only at key areas not for every alert that might pop off. These order flow tools, like time and sales, DOM and delta etc need to be utilized at very specific times. Most of the time it's just noise. I know some guys that spent years trying to understand and jump around buying different order flow tools thinking it will somehow be better. Trying to make sense out of it every single minute and be totally frustrated and thinking they are just not "good" traders.

I now trade bigger timeframes.

I love FX. I trade value. Toward it.

Ron

Edit: grammar

Sent from my iPhone using futures.io

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)

Last edited by Blash; January 8th, 2017 at 08:58 AM.
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  #16 (permalink)
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I can recommend JigSaw and ATAS (Advanced Time And Sales). Last one is independent platform which requires datafeed also. You can register Demo with cqg datafeed by default

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  #17 (permalink)
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Futures Experience: Beginner
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xplorer View Post
Hi Dave

The two I personally use are CQG QTrader and Jigsaw which is a NinjaTrader add-on.

QTrader costs 40 USD/month but there's a free trial available

Jigsaw costs 399 USD but NinjaTrader needed to use it is free (later on this year Jigsaw should also be available as standalone).

In terms of functionality Jigsaw is superior as it gives you the split volume of bid/asks, both for the short term timeframe and as cumulative. This is in addition to the volume profile, which is also included in QTrader.

QTrader on the other hand is faster in terms of info displayed. I also like that in QTrader the inside bid/ask are surrounded by a rectangle which helps with reading the pace.

In terms of tape, both are similar, but Jigsaw has a reconstructed function which pieces back together the trades that might be split at CME level.

Hope this helps.


Hay mate, very nice to be here.
I have a question for you about Jigsaw as I am thinking about start using it but I have 1 concern about it and you might help as you familiar with it. Im trading exclusively stocks and a lot of times stocks without a lot of liquidity, I saw it happening on my IB BookTrader, there is huge gaps between each price because of the low liquidity, and it make it almost impossible to trade only depend on the DOM , the DOM jumping up and down between prices. I basically can see the offer @ 5.00 and next offer is @ 5.30. (30 tickes between offers) so there is no way to see those offers at one time, I wonder if Jigsaw have some solution for it? or there is none because it's basically build for futures where there is a lot of liquidity and this is not an issue there.
Hope to hear your thoughts or suggestions.

Thank you! Have a nice Weekend! (:

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  #18 (permalink)
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MrN1njaTrader View Post
Hay mate, very nice to be here.
I have a question for you about Jigsaw as I am thinking about start using it but I have 1 concern about it and you might help as you familiar with it. Im trading exclusively stocks and a lot of times stocks without a lot of liquidity, I saw it happening on my IB BookTrader, there is huge gaps between each price because of the low liquidity, and it make it almost impossible to trade only depend on the DOM , the DOM jumping up and down between prices. I basically can see the offer @ 5.00 and next offer is @ 5.30. (30 tickes between offers) so there is no way to see those offers at one time, I wonder if Jigsaw have some solution for it? or there is none because it's basically build for futures where there is a lot of liquidity and this is not an issue there.
Hope to hear your thoughts or suggestions.

Thank you! Have a nice Weekend! (:

Hi MrN1njaTrader and welcome!

As far as I know Jigsaw works with trading platforms for futures instruments only so it would not apply to trading stocks. But my knowledge of availability may be limited - @DionysusToast owns the company so he may be able to confirm when he's back from holidays.

But from what you write it appears that the main problem is lack of liquidity to the stocks you are looking at. If that were to be the case, no tool would be able to solve that: it's simply a matter of stocks with low liquidity. And if that is an issue, would looking at more liquid stocks or a different type of instrument altogether help?

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  #19 (permalink)
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Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
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MrN1njaTrader View Post
Hay mate, very nice to be here.

I have a question for you about Jigsaw as I am thinking about start using it but I have 1 concern about it and you might help as you familiar with it. Im trading exclusively stocks and a lot of times stocks without a lot of liquidity, I saw it happening on my IB BookTrader, there is huge gaps between each price because of the low liquidity, and it make it almost impossible to trade only depend on the DOM , the DOM jumping up and down between prices. I basically can see the offer @ 5.00 and next offer is @ 5.30. (30 tickes between offers) so there is no way to see those offers at one time, I wonder if Jigsaw have some solution for it? or there is none because it's basically build for futures where there is a lot of liquidity and this is not an issue there.

Hope to hear your thoughts or suggestions.



Thank you! Have a nice Weekend! (:



In addition to @xplorer stated Jigsaws Summary Tape or stape would be a good fit for stocks I feel.

Ron


Sent from my iPhone using futures.io

It is an axiomatic fact that while you meditate you are speaking with your own spirit. In that state of mind you put certain questions to your spirit and the spirit answers: the light breaks forth and the reality is revealed.
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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  #20 (permalink)
Elite Member
Tel Aviv Ha'merkaz Israel
 
Futures Experience: Beginner
Platform: Jigsaw, MultiCharts, NT7
Broker/Data: CQG , AMP futures
Favorite Futures: futures
 
Posts: 16 since Dec 2016
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xplorer View Post
Hi MrN1njaTrader and welcome!

As far as I know Jigsaw works with trading platforms for futures instruments only so it would not apply to trading stocks. But my knowledge of availability may be limited - @DionysusToast owns the company so he may be able to confirm when he's back from holidays.

But from what you write it appears that the main problem is lack of liquidity to the stocks you are looking at. If that were to be the case, no tool would be able to solve that: it's simply a matter of stocks with low liquidity. And if that is an issue, would looking at more liquid stocks or a different type of instrument altogether help?

Thanks for quick reply, yes I thought the same but want to be sure there is no real technological solution for this. I like to trade stocks with lack of liquidity and very low float as those are the most profitable for me because of my small account, I can't really trade AAPL or SPY or any other super liquid contract because of the very small moves they make. 1$ move for SPY is a daily move and with my small account to buy or short 40 contract to make 40$ it doesn't make sense.
Thanks for approve my thought, I guess I will have to relied just on tape to try found entry points for those low liquidity contracts. (:

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