Jigsaw Trading's Peter Davies - Ask Me Anything (AMA) - Trading Reviews and Vendors | futures io social day trading
futures io futures trading


Jigsaw Trading's Peter Davies - Ask Me Anything (AMA)
Updated: Views / Replies:91,910 / 423
Created: by Big Mike Attachments:73

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 73  
 
Thread Tools Search this Thread
 

Jigsaw Trading's Peter Davies - Ask Me Anything (AMA)

  #181 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,598 since Nov 2010
Thanks: 764 given, 8,328 received
Forum Reputation: Legendary


lexxmd View Post
Thank you all for the reply ... do professionals read the price ladder on jigsaw all the time or at certain locations, and do they understand what's happening at any give time by looking at the price ladder?

because I have this expectation if i spend hours just in front of the jigsaw i can eventually understand the madness or see certain patterns that will allow me to scalp the market at any give time IS this realistic goal?

All professional day traders I know have some sort of situational awareness before going into the day.

That's a combination of being aware of the fundamentals - news, auctions etc as well as some sort of technical awareness. Like right now on the S&P - we are close to all time highs were we've failed a number of times. So of course, you can't ignore that and participation will change when you get there.

Those employing market making techniques care the least about charts. They just want to provide liquidity at spots where it's pretty safe to do so and then if they get filled, turn that position over very quickly. So charts are pretty much irrelevant but what is very relevant is correlated markets because it is of utmost importance to these guys whether the market is directional or not in the very short term and you really need participation increases across markets to be assured of that.

Spreaders, similarly don't care too much about charts and there's more pro's spreading than trading outrights. Again, there will be times that a fundamental shift could impact the spread relationship, so you have to have an eye on that (like a Fed rate hike)

As for outright scalpers - it's a mixed bag from what I have seen. At the end of the day, there are areas where participation WILL likely change if you move through a chart level. This isn't so much a guarantee that a level will hold or not in the long term but I do know fairly big traders that watch levels that would be considered "key technical levels" and just scalp the pause that often occurs there.

I think what it comes down to - if you go into the prop world, they will keep you away from charts and have you scalping smaller targets off the order flow until you are in profit. That doesn't necessarily become the end-goal though. As a trader progresses, they can move towards longer term trades which means incorporating the intraday volume profile too.

Most of the trading we see in markets like the S&P500 Futures is intraday speculation. Hence the use of Volume Profiles/Footprints to get a better idea of where people are positions for longer term analysis and trades with slightly larger targets. Bottom line being that the key thing on any day is how this speculative activity is playing out or if there's a relative lack of it.

For thicker markets like US treasuries - there's not much point looking at a chart intraday. There's barely any swings. Crude on the other hand has tons of swings and therefore the charts/footprint (in my opinion) help you to see the stop-out points easier than a straight volume profile would.

So - yes you can scalp without charts. In the retail world - people start off with charts and then some will stumble into order flow/DOM. In the prop world (certainly for futures) - it is the reverse, people are pushed to get to profit without charts and then later (once they know what really moves the markets) may look at incorporating charts.

Personally - I like charts for bias and for swing sizes.

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 8 users say Thank You to DionysusToast for this post:
 
  #182 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,598 since Nov 2010
Thanks: 764 given, 8,328 received
Forum Reputation: Legendary


Blash View Post
My way of thinking/trading is to have areas you want to conduct business in ahead of time you conceive of during your daily trade assumption/thesis creation usually done in the morning taking into account the over night action as well as everything else you have observed over the past months and years. Looking at the DOM/price ladder and trying to figure out what is happening at any moment in time, as if there is constantly a way to discern what is going on, and make tradable sense out of it, is a sure fire way IMO to over trading and a very poor substitute for a clear plan.

IMO focusing on your risk is the only way to go. How much of your account are you going to risk to find out if your idea for a trade is going to work out? How much are you going to risk during streaks of trades both winning and losing? Streaks happen. Take advantage of them. And also protect from them on trades that don't work out. Most think focusing on the entry is the most important. I think focusing on trade management, market context and taking advantage of market extremes and exits is most important.

Don't be in a hurry to trade. Seek to understand what is going on in the Depth and Sales Jigsaw tool at your key locations never mind the rest of the noise.

I often relate to other businesses I am a patron of. For example restaurants. Home Depot. Amazon etc. Not every "trade" they make works out. Warranty work. Cold soup. Item broken in shipment. A poorly seasoned dish. A hair in a taco....lol..... This is the same thing we do just a diff industry. I look to buy peanut butter at the grocery store when its on sale for example. Not when its at the vpoc. Meaning the price most traded or just the regular price peanut butter is normally sold for. I want a good deal. So I wait for a sale. Sales are for short time periods. Then the price goes back to the "vpoc". I then stand in the grocery store aisle and sell all those jars back I bought on sale to the people that like to buy at the "vpoc"....lol.... So this means in trading have areas you will wait for and them watch the DOM to see if you are correct in your thesis about this area. You might end up waiting 2 or 3 days. So what. You are smart about it. There will still be uncertainty but you can stack the probabilities in your favor this way.
I like to think our business is a more pure form of all this peanut butter talk...lol...without all the complications of employees, massive over head etc etc..... our orders are our employees. But for this simplicity there is a price to pay. Namely retraining your brain to think in probabilities.

Ron

Good post

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 2 users say Thank You to DionysusToast for this post:
 
  #183 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
Blash's Avatar
 
Posts: 1,518 since Nov 2011
Thanks: 4,395 given, 2,222 received

Rest Much....?


ahh.......... Just now saw your email Peter


Somebodies been hard at work with the team of skilled coders.......

Looks like an edge of some degree to little old me and I take whatever edge I can. Thanks Peter.

......Just took on a new meaning?????



Ron

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)
Reply With Quote
The following 4 users say Thank You to Blash for this post:
 
  #184 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,598 since Nov 2010
Thanks: 764 given, 8,328 received
Forum Reputation: Legendary


Blash View Post
ahh.......... Just now saw your email Peter


Somebodies been hard at work with the team of skilled coders.......

Looks like an edge of some degree to little old me and I take whatever edge I can. Thanks Peter.

......Just took on a new meaning?????

Ron

Thanks Ron - it was Keng that did all the work - I just take the credit..

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 2 users say Thank You to DionysusToast for this post:
 
  #185 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: Tradestation, Ninja
Favorite Futures: NQ ES & Equities
 
paps's Avatar
 
Posts: 1,448 since Oct 2011
Thanks: 1,885 given, 1,173 received
Forum Reputation: Legendary

Yupp thnx Pete. I had missed yr email on the release and caught it in my twtr feed when saw someone using it.

Got it downloaded last evening just before the drop on ES happened or was happening. So was able to play while trading the move since yester OVN.

Still need to play with it for optimal settings. But seems we have something useful there. Lots of balls bouncing all around .. Sweet

Thnx


Blash View Post
ahh.......... Just now saw your email Peter


Somebodies been hard at work with the team of skilled coders.......

Looks like an edge of some degree to little old me and I take whatever edge I can. Thanks Peter.

......Just took on a new meaning?????



Ron


Reply With Quote
The following user says Thank You to paps for this post:
 
  #186 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,598 since Nov 2010
Thanks: 764 given, 8,328 received
Forum Reputation: Legendary


paps View Post
Yupp thnx Pete. I had missed yr email on the release and caught it in my twtr feed when saw someone using it.

Got it downloaded last evening just before the drop on ES happened or was happening. So was able to play while trading the move since yester OVN.

Still need to play with it for optimal settings. But seems we have something useful there. Lots of balls bouncing all around .. Sweet

Thnx

Great - we have a few more things coming before it goes 'live' - settings, wise there shouldn't be much to set as it's 'self-learning' in terms of knowing where large volume traded, although - we are having to wise that up a bit and you will see that out in the next few days.

The only real settings are the pixels per interval - I prefer 2 or 3 and then the interval - which I like to set about 3 or 4 - but I switch it around as I want to see more/less history. The intent is for the settings you need to use intraday will all be on that main window, so if it's not on that main window, you should be able to use the defaults.

And for the perpetual tinkerers - there's always the settings window.....

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 2 users say Thank You to DionysusToast for this post:
 
  #187 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: Tradestation, Ninja
Favorite Futures: NQ ES & Equities
 
paps's Avatar
 
Posts: 1,448 since Oct 2011
Thanks: 1,885 given, 1,173 received
Forum Reputation: Legendary

Pete luv the way with click of a button... it shows up the chart which is the heat map.

Wish we had similar stuff for drawing up a R / S tape. Not sure if thats possible in a future wish list.

normally have it setup in this config ...as do not use much of the stuff in Depth Window

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
The following user says Thank You to paps for this post:
 
  #188 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,598 since Nov 2010
Thanks: 764 given, 8,328 received
Forum Reputation: Legendary


paps View Post
Pete luv the way with click of a button... it shows up the chart which is the heat map.

Wish we had similar stuff for drawing up a R / S tape. Not sure if thats possible in a future wish list.

normally have it setup in this config ...as do not use much of the stuff in Depth Window

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Actually - you'll be able to run all the tools @ the push of a button soon-ish.

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 3 users say Thank You to DionysusToast for this post:
 
  #189 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: Tradestation, Ninja
Favorite Futures: NQ ES & Equities
 
paps's Avatar
 
Posts: 1,448 since Oct 2011
Thanks: 1,885 given, 1,173 received
Forum Reputation: Legendary


DionysusToast View Post
All of this is possible - it's just not high up on our list right now, I'm trying to add more developers as 3 is not enough for what we are trying to do.

It is ON the list though!

Hi Pete...revisiting original request to see if any on radar now.

"
Wondering if any of the below features or add on's are in the works...as there is a lot of value in the sweeps and the snapshot

a) Is there a way to Alert (audio - based on size) when bids/offers are pulled away...guess a audio of snapshot
b) anyway of plotting a)
c) anyway of alerting how fast the bids/offers are being replenished..and perhaps plots of the same
d) Plotting of parameters tied to Reconstructed tape or Summary Tape
e) Counter to keep track of sweeps at different price levels and maybe plots of the same.
"

Hence thought of checking. Any chance of getting any of this from one of the best OF tool out there.

What I would really love is perhaps a start / stop button which then calculates and display Tape Delta using R Tape. And will be amaaaazziiing if any APIs or functions to get this done problematically based on another indicator in Ninja.

cheers & best

Reply With Quote
 
  #190 (permalink)
Elite Member
Chicago, IL
 
Futures Experience: None
Platform: NT8,NT7,TWS,FOREX.COM app
Broker/Data: InteractiveBrokers, NinjaTrader Brokerage FOREX.COM, IQFeed
Favorite Futures: The one I'm creating in the present....ES, ZF, ZN, ZB, FX pairs
 
Blash's Avatar
 
Posts: 1,518 since Nov 2011
Thanks: 4,395 given, 2,222 received


FYI
To everyone even slightly interested in the Jigsaw tools IMHO the wise thing to do right now is purchase them because the Auction Vista Heatmap, while in beta, is included in the current price which is already an extremely a fair and value driven price IMHO.

The latest YouTube video about the Heatmap beta2 release.

http://youtu.be/Oo9ptC89UGg

Ron


Sent from my iPhone using Tapatalk

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)
Reply With Quote
The following user says Thank You to Blash for this post:

Reply



futures io > > > Jigsaw Trading's Peter Davies - Ask Me Anything (AMA)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Alternative Views on Traditional Tools w/Rhonda Jones

Elite only

FuturesTrader71: TBA

Elite only

Al Brooks: TBA

Elite only

Jigsaw Trading: TBA

Oct 19

RandBots: TBA

Oct 24
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Jigsaw Trading & RapidTraderPro, www.jigsawtrading.com MWinfrey Trading Reviews and Vendors 239 September 16th, 2017 10:11 AM
KJ Trading Systems Kevin Davey - Ask Me Anything (AMA) Big Mike Trading Reviews and Vendors 337 August 27th, 2017 04:28 AM
DeCarley Trading's Carley Garner (Senior Strategist/Broker) - Ask Me Anything (AMA) Big Mike Reviews of Brokers and Data Feeds 28 June 3rd, 2017 05:49 PM
Spot FX Day Trading: The Jigsaw mokodo Trading Journals 242 November 18th, 2013 04:18 PM
DeCarley Trading's Carley Garner (Senior Strategist/Broker) - Ask Me Anything (AMA) Big Mike Options on Futures 1 March 6th, 2013 06:00 PM


All times are GMT -4. The time now is 08:28 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts
Page generated 2017-09-21 in 0.07 seconds with 19 queries on phoenix via your IP 54.198.28.114