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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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  #571 (permalink)
London, England
 
Experience: Intermediate
Platform: NinjaTrader
Broker: IB, Kinetic
Trading: Stocks
 
Posts: 512 since Oct 2010
Thanks: 21 given, 225 received

Have things moved on ?

Hello Peter.

I know this is a "Futures" forum now, but a quick query on US Equity trading. I am a jigsaw member and after a spell out I just wanted to catch up.

Previously I used the following:
IB for execution
NT7 for charts + Kinetic data feed.
On NT7 > used the summary tape and Recon Tape.

At the time I took a break, I think a new stand-alone product Daytradr was just coming to the fore.

So, in terms of US Equity trading, just wanted some advice on the best arrangement to use. E.g. Is the above still workable? Does Daytradr offer more ?
Are there better data feeds than Kinetic ?

Many Thanks.

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  #572 (permalink)
Richmond Virginia
 
Experience: Intermediate
Platform: Ninja Trader
Trading: ES
 
Posts: 310 since Feb 2013
Thanks: 289 given, 150 received

I was wanting to learn more about the circle tuner in Auction Vista.

What would be the recommended settings depending on market volatility?

Is there a way to tell what price the circle tuner is representing?( I use the crosshair and the circle seems to cover 2 or 3 prices in CL)


Thank you

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  #573 (permalink)
Los Angeles, CA
 
Experience: Advanced
 
Posts: 35 since Nov 2019
Thanks: 38 given, 3 received


Glad I checked back in on this thread. Looks like things at Jigsaw are going in quite the direction I was trying to figure out a workaround for (lack of charting).

In terms of data for Jigsaw; maybe this is a really dumb question but if using Kinetick or IQ for data, is this considered multiple connections requiring more than one data subscription?

Also, I'll add a vote for the previous posters question regarding "So, in terms of US Equity trading, just wanted some advice on the best arrangement to use. E.g. Is the above still workable? Does Daytradr offer more ?
Are there better data feeds than Kinetic ?"

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  #574 (permalink)
Canada
 
 
Posts: 4 since May 2020
Thanks: 0 given, 0 received

New user to Jigsaw. Training is better than Bookmap. More emphasis on order flow DOM vs Bookmap which is over stimulating and gets one to focus too much on the visuals and volume dots which I found had me over trading. Made better trades on Jigsaw than Bookmap.

Some suggestions / requests

1 - Plug In for TD Think or Swim (they offer customers FREE level 2 market depth) This would be a huge bonus for North American customers.

2 - Full candle stick charting capabilities (RSI, Moving averages, etc)

3 - Visual Indicators - Would be nice to add some logos to the auction vista (Icebergs for Iceberg order, Stop Signs for a stop run etc....) Bookmap has a new MBO add on which includes this data. I think just adding some images of stop signs or icebergs on the chart would add to the point or perhaps add this into one of the gauges.


What would be ideal would be full charting capabilities with the auction vista built into 1 chart. Perhaps Candles that still show in background colors the market depth areas of liquidity and and the volume dot's that show exceptional volume..

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  #575 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
Bangkok
 
Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker: AMP, S5, IB
Trading: ES
 
Jigsaw Trading's Avatar
 
Posts: 2,975 since Nov 2010
Thanks: 821 given, 10,262 received


Big Mike View Post
Do you have a mechanism in place to refresh and then fill in the "missing" data that was dropped for whatever reason? Backfilling it after market close for example.

Speaking of data, getting off topic, do you have data servers to pull historical data from on your side, or is there no need -- simply using NT's existing infrastructure?


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Right now, no - we are an "in the moment too", with very little history beyond the historical VP & what Vista collects in real time. On a disconnect, we do refresh the intraday VP and more importantly - fills/positions

With the upcoming release, we have charts and caching with catch-up - standard stuff. That's only for direct data feed connections. When we piggy-back a trading platform like NT8 or MT4, we don't use that for chart data. No point really.

We don't have servers or plan to because we can lean on other people's (e.g. CQG, Rithmic etc) to provide the data. If we went the server route it would be for execution initially - but that's another story...

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  #576 (permalink)
Los Angeles, CA
 
Experience: Advanced
 
Posts: 35 since Nov 2019
Thanks: 38 given, 3 received

Any anticipated rough date on the release of charts for Jigsaw?

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  #577 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
Bangkok
 
Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker: AMP, S5, IB
Trading: ES
 
Jigsaw Trading's Avatar
 
Posts: 2,975 since Nov 2010
Thanks: 821 given, 10,262 received


jitasb View Post
Have things moved on ?

Hello Peter.

I know this is a "Futures" forum now, but a quick query on US Equity trading. I am a jigsaw member and after a spell out I just wanted to catch up.

Previously I used the following:
IB for execution
NT7 for charts + Kinetic data feed.
On NT7 > used the summary tape and Recon Tape.

At the time I took a break, I think a new stand-alone product Daytradr was just coming to the fore.

So, in terms of US Equity trading, just wanted some advice on the best arrangement to use. E.g. Is the above still workable? Does Daytradr offer more ?
Are there better data feeds than Kinetic ?

Many Thanks.

Yeah - except you no longer need NT or Kinetick.

IB got their act together with the L1 data - so the data is good and we now connect directly to TWS from daytradr.

From an L2 perspective Kinetic was always base level 2 - best bid/ask per MMID. With IB you can layer on the subscriptions to get a much deeper appreciation of actual depth, which we consolidate on the ladder to give you the totals. Only issue is - it's hard to get an answer from anyone at TWS about exactly which subscriptions you need - so we put it here: https://blog.jigsawtrading.com/interactive-brokers-data-for-us-stocks

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
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  #578 (permalink)
Warsaw, Poland
 
 
Posts: 28 since Apr 2020
Thanks: 10 given, 10 received

Hi,

Recently one of other trading platforms has implemented stop&iceberg order detector. It uses Rithmic data to display the amount of stop limit orders being executed at given time

I think it can give a bit of an edge in terms of detecting a stop run and using this information to trade setups that depend on stop run concept

Do you have such a feature in Jigsaw? If not, do you plan to implement it?

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  #579 (permalink)
Legendary  Vendor: www.jigsawtrading.com 
Bangkok
 
Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker: AMP, S5, IB
Trading: ES
 
Jigsaw Trading's Avatar
 
Posts: 2,975 since Nov 2010
Thanks: 821 given, 10,262 received


matzero View Post
Hi,

Recently one of other trading platforms has implemented stop&iceberg order detector. It uses Rithmic data to display the amount of stop limit orders being executed at given time

I think it can give a bit of an edge in terms of detecting a stop run and using this information to trade setups that depend on stop run concept

Do you have such a feature in Jigsaw? If not, do you plan to implement it?

No. Mostly because what we already have is better because you can't hide from it.

It's not as if we didn't consider it. When MBO was announced way back, we spoke to a lot of professional traders and the consensus was that it wouldn't be of practical use to the retailer. Mostly because it's very similar to the old L2 totalview on stocks in the early-mid 2000's. That game died out a long time ago and it's hard to see how MBO would breathe life into it. (more here: https://blog.jigsawtrading.com/mbo-the-new-holy-grail-or-just-another-gimmick-for-retail-traders)

MBO does give you a way of detecting native icebergs. By native, I mean icebergs that are sitting at the exchange using the CME "Display Qty" order parameters. These iceberg order types at CME are quite unsophisticated. On the other hand, the leading Instutional trading platform (TT) has far superior iceberg order capabilities that are co-located at the exchange and not visible via MBO (and the 'other' platform you mention).

So first thing you have to ask - which ones are most widely used? The unsophisticated ones that are now visible via MBO or the highly tunable ones that MBO can't show you?

Second thing you have to ask - which icebergs do you want so see? All of them or some of them?

The platform used by the majority of the traders you want to track are using a platform that has had amazing iceberg functionality for years & that just happens to be invisible to MBO. See for yourself here: https://library.tradingtechnologies.com/trade/tto-order-types-overview.html

Seeing an iceberg isn't rocket science. It's simply a lack of liquidity/limit orders when you get to a price but then a lot of size ends up executing. Just means people added more size. MBO does not show you each time this happens. It just shows you when it happens with a simple, native order type. If you only include native/MBO icebergs - you will miss much of this activity. On the other hand - you already know where there's no depth but a lot of size, right. That's still what you are looking for.

Every time something new comes out, there's always going to be people pushing it as the new "holy grail" or the solution to "they" that are causing all your losses. MBO isn't new to trading, it's stuff we had 15 years ago. It does help algos understand why they don't get filled but it's not the droid you are looking for.

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
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  #580 (permalink)
Warsaw, Poland
 
 
Posts: 28 since Apr 2020
Thanks: 10 given, 10 received



Jigsaw Trading View Post
MBO does give you a way of detecting native icebergs

Actually I can notice icebergs with no additional visual aids, using either DOM or footprint

I'm more interested in the "stop" part of the stop&iceberg detector

They now visualize the number of stop limit orders being executed at any given time. I know that experienced traders can recognize this without additional help, but for the rest of us without such skill it's very helpful

Do you plan to add some kind of stop run detector to Jigsaw?

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June 1, 2020


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