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Bookmap vs Jigsaw Daytradr


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Bookmap vs Jigsaw Daytradr

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  #21 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
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Flyer873 View Post
>My main screen using SC DOMs (which are quite good except for a couple of irritations) is exactly this (7 side by side).
Is that Bookmap? Cause I'm not sure what a SC DOM is. (Sorry)

I never could figure out how to place just dom's using bookmap but on the other hand I didn't spend a lot of time on it because I already knew how to use Jigsaw. Plus I have this theory that when you learn something, something has to be pushed out. I took a James Dalton course once and forgot how to change a tire.


Hah! Good stuff. A brief digression: it's easy to get too cerebral in trading. Learning is critical, but when a workshop is dedicated to MP (or most anything) and takes days, it's really too much. We need time to learn a chunk, absorb it, put it to work, and then go to the next piece. Someone who doesn't know what a TPO represents is going to have too much info after the first hour or two of info on MP. It has to all be learned though, and then reduced/distilled to the principles, and that just takes time and practice. Digression over.

SC = Sierra Chart. The DOM is really phenomenal; I haven't tried Jigsaw or Bookmap, but SC's ladders are very similar to those.

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  #22 (permalink)
London
 
Experience: Master
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Posts: 13 since Jun 2018
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I use both. In a nutshell, Jigsaw is a DOM based platform with an optional heatmap, Bookmap is the opposite. So you can't really say that one is better than the other, it completely depends on how you like to source your information. If heatmap, then Bookmap. If DOM, then Jigsaw.

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  #23 (permalink)
Warsaw, Poland
 
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Flyer873 View Post
I can't figure out how to post charts in private chat so here you go.
This is how I saw my first trade this morning. zoom up on the chart and you might be able to read the notes. Let me know. The simple truth is I drew a profile on the over night low's 2 bottom bars. When the market comes down to test the level I start looking for liquidity, Icebergs bigger volume etc to take the trade. This is what I did. Look at the time on the Bookmap chart around 8:40 and you can see 3 times we tried to get through it and each time that big buyer was there to take everything the sellers were able to sell.



610

OK, but that kind of clear action happens very rarely

I stare at bookmap every day for a few months now

Unfortunately I found this kind of scenario absolutely random. Sometimes price hit area of high liquidity and bounce. Other time it hits it and trades through. Other times it reverses just before reaching the level of high liquidity. Sometimes it hits more than one levels of high liquidity and continue. Complete randomness

Same for icebergs. I've seen veeeeery large icebergs and the price went through. Sometimes it continues. Sometimes it reverses after a few ticks. Sometimes it bounces from iceberg and never returns. Random outcome, random direction after iceberg hits

One thing I can confirm that generally levels of high liquidity are like a magnet. But those magnets are both on the bid side and on the ask size. Sooner or later price will hit them, but again it seems do be done in semi-random order

After months of watching this stuff I'm only getting more into conclusion that at the end of the day only price action matters

Do we have some heatmap users that found their edge only by looking into heatmap? Please correct me if my above statements are wrong

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  #24 (permalink)
Warsaw, Poland
 
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Dianoia View Post
I use both. In a nutshell, Jigsaw is a DOM based platform with an optional heatmap, Bookmap is the opposite. So you can't really say that one is better than the other, it completely depends on how you like to source your information. If heatmap, then Bookmap. If DOM, then Jigsaw.

Why do you use both of them while both Bookmap and Jigsaw have DOM that can be configured in similar way. And both have heatmap. Isn't this redundant?

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  #25 (permalink)
Chicago, Illinois/United States of America
 
Experience: Intermediate
Platform: Sierra Chart, Daytradr,MW
Broker: AMP, ADMIS, Gain, Charles Schwab. Data: CQG, Open-eCry
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Posts: 5 since Jun 2013
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I had the same question a few years ago & felt the same apprehesion about which to choose- I liked features about both; however, paying to have both just wasn't wise & not really feasible in my case, either. I found that Bookmap seemed to be useful if someone wants to zoom in to a granular level, & identify HFT's a little more easily, but Peter's Jigsaw Tools provided multiple ways to look at order flow (and all you need is one which works for you), & Auction Vista seems *somewhat* less graphicly smooth than Bookmap, but is absolutely more than adequate for that kind of visualization.

Since you now know that basically Jigsaw does what Bookmap does, there's some other very important considerations:

#1) Peter's education that comes with the Tools. Bookmap used to do daily 1 hr. webinars when I tried it for a month, but it seemed to be mostly on how to 'read the dots' & navigate the software. Peter's very generous with his knowledge & is a trader himself, with clear experience, & his training is much more comprehensive as to understanding what is happening, as well has how to understand the information the tools provide. The software is continually updated, & there have been cool new features since I've owned it. There is also a chatroom that Peter himself participates in daily, with traders of all levels of experience, many who are very helpful if you have an immediate problem or question (although there is a support ticket system).

#2) I don't remember what Bookmap cost at the time (a few years ago), but Peter's 'one & done' purchase option was & likely is 'best value'. For me, like many traders, I was underfunded for this journey to become a trader, & this was one of the best decisions I have made along the way. The downside is, to trade live through the Tools, there is an annual subscription. I somehow did not understand that when I bought it. I do not know how Bookmap works in this regard.

#3) Journalytix is part of the deal, & a few years ago I purchased Edgewonk to journal. However, I found it's too difficult to remember or stop & enter all the details of a trade using Edgewonk (it seems more suited to those who do not trade very frequently during the day, or are more positional or swing traders -I will use it someday I am sure). Journalytix is really great- it has a speech to text feature, prompts you to journal after each trade (if you want it to), & comprehensive analytics. Journaling is a key tool in development & performance enhancement.

#4) JS has a real-time news & economic calendar feature (if your broker data feed supports it) & that's very helpful. I don't recall that Bookmap did, but I might be wrong.

#5) Jigsaw has real-time alerts (icebergs, block trades, bearish/bullish divergence) that can really help to understand what's going on at a given price & moment in time, as well as help you either stay in a trade, or get out.

**There are some people on here who seem to use both platforms. You are likely going to need some kind of charting platform as well. Realize that you need logins for each platform, & we (as I understand it) are now limited to two logins per data feed, essentially, or the CME will deem you to be a 'professional', which jacks up your costs, unsustainably for most, especially those just starting out. So you need to check with your broker as to how many logins/platforms you can actually use, without getting an additional broker and/or data feed. Almost no retail trader needs both - it's more of a luxury for those who want the sleek "heatmap" of Bookmap & can afford it.

If I was teaching someone the ropes, & they wanted order flow tools, Jigsaw would be the one.

Hope that helps.

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  #26 (permalink)
London
 
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matzero View Post
Why do you use both of them while both Bookmap and Jigsaw have DOM that can be configured in similar way. And both have heatmap. Isn't this redundant?

They both have a heatmap, but Bookmap's is way better than Jigsaw's. And Bookmap's DOM is inferior to Jigsaw's.

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  #27 (permalink)
queens, ny
 
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Platform: NT7,NT8,Sierra,Ensign
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It is not always about what a market does but what it doesn’t do. If the market moves into liquidity are those resting limit orders turning into market orders? Is liquidity being pulled, absorbed, etc.? I actually came across a bunch of video’s by some kid ( a kid to me anyway) on YouTube the other week that does a pretty good job of explaining these things. Look up “Bit Coin Challenge” and give it a look. As the name implies he concentrates on bitcoin, but from the limited amount of video that I have seen gives a fairly cogent explanation of how this form of analysis works and might be helpful.

As far as your primary question is concerned I can only say that Bookmap in my opinion delivers on what it is designed to do. I have never tested Jigsaw. In the past whenever I had such a question I would test both programs side by side. After a period of time I would find myself gravitating to one over the other. That was the winner.


Best of luck in your endeavors.

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  #28 (permalink)
Vilnius Lithuania
 
Experience: Intermediate
Platform: Exocharts.com, Jigsaw, MW
Trading: BTC, MGC, ES
 
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If you're DOM scalper then you have only 2 choices TT or Jigsaw, if you're not DOM scalper then anything than those 2 is better.
However sophisticated and overblown Bookmap is it does not show DOM dynamics.
With Bookmap you see when market tanked, with Jigsaw you can see when market is tanking, so you are 1 step ahead.
To my humble opinion mixing DOM analysis with Heatmap is overkill, and DOM with charting, where you can switch to TPO's, Dailies, Weeklies, Minutes in instant, mark levels, draw profiles etc. is just perfect combination. So Bookmap is neither good at DOM neither good at charting.
Jigsaw with Ninja or Motive is very common combination.

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  #29 (permalink)
London
 
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I agree with Tandem that TT and JS have the two best DOM solutions. But I respectfully disagree with his/her view that "With Bookmap you see when market tanked, with Jigsaw you can see when market is tanking, so you are 1 step ahead.". I think you actually extract more information from Bookmap than Jigsaw (I use them both daily and have been for a long time). This is also a matter of trading style. How do you make money and what type of information will help you in this process? The only sensible way of figuring out if a tool works for you (or not) is to actually try it out.

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  #30 (permalink)
WHEATON
 
 
Posts: 6 since Apr 2016
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matzero View Post
Hi

I'm looking for someone who has tried both of Bookmap and Jigsaw platforms

Can you compare them? What finally you choose?

So far I found that while Bookmap is probably best in class in terms of heatmap functionality, really that's all about it

I'm wondering how Jigsaw built-in heatmap compare with BM

In Jigsaw they have also auto-adjusting large volume dots. Are they as useful as advertised?

I’ve been using Bookmap for strategy development for years. It goes way beyond just the heat map. It uses open source code that is incredibly user-friendly, and they happily work with you to customize it. Highly recommend.

Jim

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