NexusFi: Find Your Edge


Home Menu

 





No BS Day Trading www.nobsdaytrading.com


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one spideysteve with 12 posts (14 thanks)
    2. looks_two Heph333 with 11 posts (63 thanks)
    3. looks_3 ReeceD with 10 posts (78 thanks)
    4. looks_4 hen322 with 9 posts (23 thanks)
      Best Posters
    1. looks_one BeachTrader with 26.2 thanks per post
    2. looks_two jstnbrg with 14.5 thanks per post
    3. looks_3 ReeceD with 7.8 thanks per post
    4. looks_4 Heph333 with 5.7 thanks per post
    1. trending_up 157,556 views
    2. thumb_up 750 thanks given
    3. group 131 followers
    1. forum 189 posts
    2. attach_file 1 attachments




 
Search this Thread

No BS Day Trading www.nobsdaytrading.com

  #21 (permalink)
 ReeceD 
Brisbane, Australia
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, ZN, Currency Futures
Posts: 15 since Oct 2013
Thanks Given: 2
Thanks Received: 94


KosherTrader View Post
Good info, do you know how Jigsaw's DOM compares to free DOMs, like the ones offered by Open E Cry or MarketDelta?

I have used a number of free DOMs over the years, also have used CQG Integrated Client and X Trader (not cheap by any means.) At the end of it all I believe that Jigsaw DOM is both the most informative about the current order flow and the most reasonably priced. (I am not affiliated with Peter Davies but we have emailed a bit and he seems like a very genuine guy.) I actually emailed just to tell him how happy I was that I didn't need to pay for X-Trader any more!

The first issue is your data feed. Some feeds have trouble distinguishing between if a market order was processed at bid or at offer so this can really affect your chance of success without you knowing it. I was originally on TT but then came over to the CQG as I believe it to be more true representation of the market condition. The DOM can move fast with all the spoofing of orders (and general market dynamics) so I believe this to be quite important. I know a lot of people who are happy on TT, and I was profitable on it too back in the day so don't take this as gospel.

The main advantage with Jigsaw is that it allows you to store short term data for quick reference. Some of the biggest difficulty with learning to scalp the DOM is based on remembering all the data required- what were the important levels, how many traded there, where they at bid or at offer, how many have traded here now, was it more than before? Stare at a normal DOM long enough and you will get it.... maybe. I got it after about a year on X Trader but found it a steep learning curve. Jigsaw has both reduced my stress while trading, and sharpened my entries and exits. Not to mention it is only a couple of hundred dollars to buy outright, not a grand a month like X Trader.

Another thing with the cheap DOMs is gives the big boys (aka guys who swing 5000 contracts) an easier time with icebergs. If I had to buy 5000 lots of something quickly (at market), I would want to not move the market against myself too quickly. So instead of printing a 5000 lot for everyone to see, I could send 100 sets of 10 lots, and then 100 sets of 20 lots, and then more again. If the liquidity is great enough the price would not move, and all the small players who swing short lines would only see a 10 and a 20 print. But this is a specific case. There are lots of games they play (especially on the pending order position.)

There are more reasons, but these are a few of the biggies...

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
Futures True Range Report
The Elite Circle
Online prop firm The Funded Trader (TFT) going under?
Traders Hideout
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
22 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
20 thanks
  #22 (permalink)
 KosherTrader 
Winchester VA/USA
 
Posts: 57 since Aug 2013

I was turned off from Jigsaw because it is $399 to buy and then $50 a month if you want to place trades through its DOM. Has anyone had success using Jigsaw tools for analysis and simultaneously using a free DOM to place the actual orders?

Reply With Quote
  #23 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,399 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,539



KosherTrader View Post
I was turned off from Jigsaw because it is $399 to buy and then $50 a month if you want to place trades through its DOM. Has anyone had success using Jigsaw tools for analysis and simultaneously using a free DOM to place the actual orders?

Ask Jigsaw review questions in the Jigsaw review thread:



If you have operational questions for Peter Davies you can ask in the Jigsaw AMA thread:



Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #24 (permalink)
 ReeceD 
Brisbane, Australia
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, ZN, Currency Futures
Posts: 15 since Oct 2013
Thanks Given: 2
Thanks Received: 94


KosherTrader View Post
I was turned off from Jigsaw because it is $399 to buy and then $50 a month if you want to place trades through its DOM. Has anyone had success using Jigsaw tools for analysis and simultaneously using a free DOM to place the actual orders?


Yes I do this. It takes a little practice to continue to keep the prices level on both DOMs but it can be done. You don't want to enter an order at the wrong price.

It is always a good thing to keep your costs down. I can not comment on live trading through Jigsaw. Better use the Jigsaw thread as Big Mike says for any further discussion.

Reply With Quote
Thanked by:
  #25 (permalink)
TheDude
london
 
Posts: 165 since Jan 2012
Thanks Given: 43
Thanks Received: 162


ReeceD View Post
Yes I do this. It takes a little practice to continue to keep the prices level on both DOMs but it can be done. You don't want to enter an order at the wrong price.

It is always a good thing to keep your costs down. I can not comment on live trading through Jigsaw. Better use the Jigsaw thread as Big Mike says for any further discussion.


Out of interest, if you used to pay for a TT licence ($500-700 pcm minimum), why not pay the $50 per month to trade through Jigsaw? The trouble of having 2 DOMs up for each market you trade seems quite a cumbersome approach just to save $50 pcm.

Of course it's a good job to keep price down, but were talking $50 pcm. That's $2.5 per day. If $2.5 per day is a significant cost saving to a business, one needs to consider the viability of that business - unless you are trading in sim, and dont yet have a business (which is fine of course). However I doubt you are trading in sim still after 10 years???

Reply With Quote
  #26 (permalink)
 
Silvester17's Avatar
 Silvester17 
Columbus, OH
Market Wizard
 
Experience: None
Platform: NT 8, TOS
Trading: ES
Posts: 3,603 since Aug 2009
Thanks Given: 5,139
Thanks Received: 11,527


TheDude View Post
Out of interest, if you used to pay for a TT licence ($500-700 pcm minimum), why not pay the $50 per month to trade through Jigsaw? The trouble of having 2 DOMs up for each market you trade seems quite a cumbersome approach just to save $50 pcm.

Of course it's a good job to keep price down, but were talking $50 pcm. That's $2.5 per day. If $2.5 per day is a significant cost saving to a business, one needs to consider the viability of that business - unless you are trading in sim, and dont yet have a business (which is fine of course). However I doubt you are trading in sim still after 10 years???

I don't think the problem is the $50. it wouldn't matter if it's 5 cents or $500. the problem is why?

I don't know about all the brokers, but with mirus and amp your tt licence is already build in your commission. so why should I pay twice for it? or look at the free market delta trader, no tt nonsense there either. but I agree trading with 2 doms sounds rather cumbersome. so for me, a monthly fee is not justified. even if it's only $50.

Reply With Quote
Thanked by:
  #27 (permalink)
 ReeceD 
Brisbane, Australia
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, ZN, Currency Futures
Posts: 15 since Oct 2013
Thanks Given: 2
Thanks Received: 94


Silvester17 View Post
I don't think the problem is the $50. it wouldn't matter if it's 5 cents or $500. the problem is why?

I don't know about all the brokers, but with mirus and amp your tt licence is already build in your commission. so why should I pay twice for it? or look at the free market delta trader, no tt nonsense there either. but I agree trading with 2 doms sounds rather cumbersome. so for me, a monthly fee is not justified. even if it's only $50.



Basically it is trying to keep my costs down as low as possible. What felt "right" for me was no ongoing costs, and my feed cost added as a small free on top of my commission. I know fifty dollars is not a lot, but at the end of the financial year if someone walked up to asked for $600 I would want to know if it was necessary.

There are heaps of options to cut costs. Fin-Alg and Gomi indocators are other great ways of cutting the trailing costs of programs, or alternatively you can just pay higher commissions and use the programs for free. Its all about personal preference.

A few years ago I scalped a lot more than I do now and X Trader and CQG IC were given to me for no charge as part of the team I was involved with. When I decided to change positions this was no longer the case, and I began searching around for different options to fill the void as X Trader feels very expensive when you are not on the screens full time. With no ongoing costs at NT and Jigsaw I don't feel like I am paying any poinitless charges.

I scalp solely for a little fun money as it is my passion. I have the career position I have now because ts all about managing risk in global sense. (I have a lady who is accustomed to a certain way of life.) Scalping for a living can be very up and down.

P.S. On another note I think its all about picking your trades. I am looking to "plunge" on a sizable short position when the S&P500 eventually corrects itself. Bernanke and his artificial S&P bubble. I am just waiting to go short on the ES in the following 12 months and ride the fall. Imagine a 5 lot position for an 800 point fall to post GFC levels. If I am wrong I will bow out 100 points in the wrong. It will be something to tell the children about. Puts scalping a few ticks each day in perrspective.

Reply With Quote
  #28 (permalink)
 
xiaosi's Avatar
 xiaosi 
Brisbane, Queensland, Australia
 
Experience: Advanced
Platform: JIGSAW/SIERRA CHART
Broker: MacQuarie Futures/AMP Clearing/CQG
Trading: HHI, HSI, FDAX
Posts: 502 since Feb 2012
Thanks Given: 448
Thanks Received: 535


ReeceD View Post
X Trader and CQG IC were given to me for no charge as part of the team I was involved with.

hmmm, Propex?

Interesting that John Grady has also switched from X-Trader to Jigsaw as well.

Follow me on Twitter Reply With Quote
  #29 (permalink)
 jstnbrg 
Chicago, Illinois
 
Experience: Advanced
Platform: Ninjatrader, TT, InvestorRT
Broker: Advantage Futures, Ninja/TT and InvestorRT/IQFeed.
Trading: Treasury futures
Posts: 312 since Nov 2010
Thanks Given: 194
Thanks Received: 911


jonc View Post
does anyone know if this is his normal performance? 100 lots for $1000 profit is not even 1 tick profit per contract if we are talking about ZN/ZB.

For a professional trader this is not unusual, at least for floor traders. I averaged about $5/contract in 16 years on floor, mostly in the CBOT Five Year Note pit. The key was trading thousands of contracts per day. Obviously, the more you trade, the lower your commissions/contract are.

"You don't need a weatherman to know which way the wind blows..."
Visit my NexusFi Trade Journal Reply With Quote
  #30 (permalink)
 ReeceD 
Brisbane, Australia
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, ZN, Currency Futures
Posts: 15 since Oct 2013
Thanks Given: 2
Thanks Received: 94



xiaosi View Post
hmmm, Propex?

Interesting that John Grady has also switched from X-Trader to Jigsaw as well.


Yeah, Jigsaw is great. It just has too much information not to use it.

Years ago I was involved with Propex for a bit. Unfortunately the whole profit share thing isn't for me. Guy Bower is a smart and really helpful guy. This led me to get X-Trader myself and really develop myself as a scalper (huge amount of screen time) while continuing in my original career. The platform cost a bit, but well worth it looking back now. I made my money back gradually on the screens, but there where ups and downs as with everything..

This is probably why I am so in support of Jigsaw. It opens this whole experience to new people (whether demo or live) for a fraction of the cost. I said to Peter Davies that I expect Jigsaw or a similar product to be the new standard DOM in a few years.


What, no-one is going to agree that the S&P500 is overpriced? Maybe I will have to take my contrarian trading picks to another thread...

Reply With Quote




Last Updated on May 16, 2023


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts