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


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

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  #41 (permalink)
 Big Mike 
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Thanks to Pete for his time today for the AMA.

I'll post the recording when it's ready. If anyone did not get their questions answered, you can post them here in this thread or visit Jigsaw's website at Jigsaw Trading - Day Trading tools, day trading methods,day trading community

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  #42 (permalink)
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Here is the AMA recording (please give YouTube an hour to finish processing):



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  #43 (permalink)
 hlatham 
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Thanks for the webinar, with regard to the requests for other platforms I'd like to add my vote to CQG, would make things easier for me if they could be integrated but I guess that's down to popular demand.

Cheers.

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  #44 (permalink)
 FKtrader 
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Hello PETE

i have some question and ur help will be very appreciated.

1-how is the liquidity15 minute before and after the OPEN of any future market?(especially CL and NQ)

2-its good to take trade around this times or not? why?

3-how we can measure the liquidity of a market in a specific period of time? Did jigsaw tool help on doing it?

4-what is ur best platform for very quick and strong execution? and how we can minimize slippage?

I appreciate ur very precious answers

Regards

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  #45 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
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Adam - I'll go one by one...

1-how is the liquidity15 minute before and after the OPEN of any future market?(especially CL and NQ)

I mostly watch the ES. There's no good answer to this because it never exhibits specific behaviour ahead of the open. It does appear that people back off it a little though. Sometimes it thins out AND slows down as people get out of the way as the open comes up. Normally thinning out would make it more volatile - but it's like everyone backs off a bit.

Then there's other times where it just sits in a tight range or trades a lot of volume at a price into the open and we look for the extremes of that range to hold (at least the first hit) as we open. This is good for a scalp but often it's only the first hit to that extreme that holds and quite often it's that fast you don't get a chance to hit it.

Then there's times where it's ranging around the high volume area of the Globex session. Then 5-10 mins before the open, it'll suddenly move out of that range 6-8 ticks. It can be churning for hours and then it just makes a move prior to the open on low liquidity. With those, I have no clear trade at the open.

After the open - well the first couple of minutes sometimes has a "tell" with a level that trades huge volume and then holds but like the action into the open, every open is different. I tend to look for an open that ranges or an open that makes a definite move and then play accordingly.

Sorry to be so vague.


2-its good to take trade around this times or not? why?

If there's say 4-6 prices with high volume that we are close to at the open - then often the "step" in the globex profile will hold and that's not a bad trade.

For me though - I'd rather let the opening 15 minutes play out nowadays to get a feel for where the market is headed. That's just me though - I found it's all a bit quick at those times & prone to rapid reversals. Like an open that shoots up, hits yesterdays high and then reverses - not a great time to be caught long. I find you can end up "chasing" the market a bit at those times.

3-how we can measure the liquidity of a market in a specific period of time? Did jigsaw tool help on doing it?


Any DOM can show you the stated liquidity - it's just how big the bids & offers are. You get a feel for that - so on ES, if I saw 2500 at every level, I'd think it was very liquid. If it was 400 at each level, it would be really slippy and illiquid. So you get a feel for each market.

Then Depth & Sales specifically shows you what's traded at each level as it goes through - a Footprint chart/GOMI Ladder on a Point & Figure chart would also show the same but in a different way - in that case you are looking to see how much trades through each level and again comparing that to what you normally see.

4-what is ur best platform for very quick and strong execution? and how we can minimize slippage?


I think OEC Trader/S5 Trader is lightning fast for execution but with NinjaTrader based solutions, the platform itself won't make any difference - it'll be the broker feed - CQG, TT, Rithmic, IB etc

On Ninja based solutions, you need to keep your Ninja Database small by clearing it out regularly or you get pauses on entering/changing orders - although I believe these pauses are AFTER submitting your order - so it just feels slow.

Hope that helps...

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  #46 (permalink)
 michaelf 
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DionysusToast View Post
On Ninja based solutions, you need to keep your Ninja Database small by clearing it out regularly or you get pauses on entering/changing orders - although I believe these pauses are AFTER submitting your order - so it just feels slow.

Hope that helps...

@DionysusToast

Hi Peter

thank you for that post I really liked it.

Can you explain a little bit more on this "keep your Ninja Database small", what does that mean and how you clean the database? Thats new for me

thanks again
michael

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  #47 (permalink)
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
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To clear the database:

NinjaTrader Control Center -> Tools -> Data -> Reset DB

You need to be disconnected from your data feeds to do this.

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  #48 (permalink)
 Saroj 
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DionysusToast View Post
We have a 2-part webinar coming up on futures.io (formerly BMT) that will take order flow novices from zero to having an understanding of the concepts that underly all order flow tools (not just ours). I hope that will give people the tools for them to then go out and develop their own approach.

The Webinars will be in May. There's no harm in you having a look at this stuff before that but I wouldn't advise turning yourself into a screen zombie at this point.

I meet lots of traders through Jigsaw. Some can read a footprint and then will ask "how does cumulative delta work?" - to me, that says they don't understand the concepts that underpin all order flow tools. To me a Cumulative Delta/Footprint/Time & Sales/Jigsaw tools - it's all different ways of looking at the same thing. There's a philosophy you need to grasp. I didn't get it myself 'till someone explained it to me. So I plan to pass on the knowledge too.

I have a certain way of explaining this in laymans terms that has so far been effective. That's what we will do in May. Now - regarding the footprint, I probably already answered that in a roundabout way. There is absolutely some overlap between Jigsaw tools and the footprint. The only difference is in how 'zoomed in' you are and the fact that DOMs are unique in showing resting orders, not just executions.

I found one of these, " Order Flow Techniques for Day Trading, Part 1"... but don't see the second one... anyone know where I can find it?

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 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
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Saroj View Post
I found one of these, " Order Flow Techniques for Day Trading, Part 1"... but don't see the second one... anyone know where I can find it?

Here you go: https://futures.io/webinars/july20_2013/practical_application_order_flow/

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  #50 (permalink)
 haljordan 
LA, CA USA
 
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Hi Pete,

I just purchased the jigsaw tools, but i have been eyeing them for quite sometime. I had a quick question for you. I am currently using the S5 trader (oec trader) along with Jigsaw. But i am trying to find a way to get the volume profile on jigsaw to reset at the start of the trading session, that is 9:30 AM EST. I have the option checked "Reset at start of new session. but it does not do that.

The chart where the indicator is attached, I have three options for sessions. 24HR, Contract Setup, and Custom. If i keep the custom option with times 9:30-4:00, i am not going to get after hours information?

any advice on this? I appreciate your time.

Thanks in advance.

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