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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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  #591 (permalink)
SpeculatorSeth
Salt Lake City, Utah
 
Platform: Jigsaw, NinjaTrader8
 
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Jigsaw Trading View Post
Yeah - I don'[t think that's going to yield the results you are looking for.

If you look at Order Flow in general - you have to always consider that some people are arb/spreading & some are longer term (and don't react to short term fluctuations)

Not all flow is reactionary - BUT you can often consider everything to be short term because that's who reacts in the short term. Short term players cause short term moves, so you can exclude the ones you don't.

For this reason - counting the orders is problematic because the counting doesn't exclude the arb/spread/long term.

Stops are an order type but you can have stops without them being stops at the exchange legging out of a bad spread would be done on an autospreader, not with stop orders placed at fixed levels because it's the RELATIVE move that stops you out, not absolute moves on 1 leg.

So let's say you have a range where 100k contracts trade and for example:

- 40k are arb/spread/non-directional - any stops they have will be automated based on the entire position - most likely not actual stop orders but not directional anyway
- 30k are long term
- 30k are short term

Now, of course every buy is a sell but put that to one side for now.

When you see stops - you can't really compare the volume of stops to traded qty. Some stops aren't stop orders, so won't be visible in MBO. The Qty you are comparing against has too much non-directional, non-reactionary trades to make comparing the values.

This issue is coming up a lot and we are going to do a session on it at the end of the month: https://us02web.zoom.us/s/89660447494

This will be an interactive session, so you can come along and we can discuss different positions on it.

Isn't this the same case with plenty of things that we see in jigsaw though? Why would this make seeing stop orders useless, but not make things like say cumulative delta useless? Yeah there's lots of noise, but that doesn't mean it can't tell you something about current market conditions.

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  #592 (permalink)
Parsippany, NJ, USA
 
Experience: Beginner
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I'm planning to buy Jigsaw license and use it alongside Ninjatrader 8, which I have lifetime license of. I noticed that Jigsaw has its own market replay connection, however can I use this feature with CQG continuum feed or I need to pay separately for some other Jigsaw supported data feed?

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  #593 (permalink)
Chanute, KS, USA
 
Experience: Beginner
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Peter,

I'm just getting started with Journalytix. I'm using NT8 trading MES live and Sim around my day job (before the open and evenings US time). I have a document defining my daily preparation before trading and another document outlining my trading plan.

What are your thoughts on a end of week/month trade review process with the data from Journalytix. My emphasis is on improving my process and trade decisions, not necessarily making a lot of money in the next day/week/month, etc.

Thanks

Steve

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  #594 (permalink)
Calgary Alberta
 
Experience: Intermediate
Platform: Daytradr
Trading: ES/CL
 
Posts: 6 since Dec 2017
Thanks: 3 given, 0 received

Hi Peter,

I'm a long time Jigsaw fan and user and very much looking forward to the new charting release. That said, I use Bookmap as well and while your points are well taken regarding the usefulness (or lack thereof) of the new MBO S-I indicators, I'm finding their new liquidity tracker pro add-on with order size filter to be very useful. Using this indicator with a filter size of >14 with a market depth of 12 in the ES (for example) allows me to often see the intentions of the larger traders.

Now I know you understand these algorithms much better than myself but I'm curious if you could or ever plan to institute something similar in Jigsaw? I ask because I'd like to use your product exclusively. I think your snapshot power meter essentially captures the same thing but I find the graphical representation where you can see spikes and trends and more nuance to be quite beneficial.

Lastly just curious if you could consider implementing a tab option so that a guy could easily switch between DOMs when trading multiple markets and screen space is at a premium?

Thanks for all of your fine work with Jigsaw. Love the platform and it seems to be getting better and better by the week!

Scott

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  #595 (permalink)
Atlanta
 
 
Posts: 124 since Jan 2017
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When are the charts coming?
What type of charting options will Jigsaw have?
This rollout is slower than The Detox, last season of GOT, the 2 year wait for the new season of Search Party, and the last Harry Potter movie!

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  #596 (permalink)
Sydney+Australia
 
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MichaelFlowTrader View Post
When are the charts coming?
What type of charting options will Jigsaw have?
This rollout is slower than The Detox, last season of GOT, the 2 year wait for the new season of Search Party, and the last Harry Potter movie!

Hi Michael, the details can be found on jigsaw blog.
Follow the link: https://blog.jigsawtrading.com/jigsaw-charting-beta

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  #597 (permalink)
San Francisco CA
 
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Can anyone explain the Live Subscription option of "$50 for the first 4 months, then $50 monthly"?
Does that mean, $450 for the first year, and then $50 monthly thereafter, leading to future payments of $600 annually?
Or does it reset each year to $50 for the first 4 months, then $50 for the rest of the year?

“Successful people ask better questions, and as a result, they get better answers.” – Tony Robbins
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  #598 (permalink)
tampa florida
 
 
Posts: 63 since Sep 2020

I am seriously just blown away at the number of people trying to use jig saw on latent data to get profitable?
it used to be mkt profile 15 years ago with letters now its all colorful same stuff that quit working years ago!!

nothing in time and sales or in the orderbook tells you anything since the orders
can and will be CANCELLED and because you have lot so of hidden orders
that still get cancelled.

the funny thing to me is that people would think smart outfits and algos are not loading up certain areas on purpose to screw with
any and all jugsaw mkt profile volume profile strategies out there because they do same as painting the tape but much cheaper.

If it works for you great but I havent met many huge traders using jugsaw on the regular and i am not here to put down this product I am just
saying all the circles the colors come on there are better ways to work with the mkt.

my question?

why do so many people use jigsaw that are still unsuccessful?
why do the people who "SELL" jigsaw always come up with new latest and greatest gizmos and gadgetry if it was so great before and folks this is an
industry like the GOLD RUSH. sell to the traders but dont trade.

anyway goodluck with it and it is very expensive if you ask me.

THERE is ZERO predictive power or deterministic power in seeing a latent and un hidden order book.
just like tape readers these days.. ahem.. nano second and some pico second changes you never see your computer cannot even
draw as fast as the quotes came into it even if you were DMA. thats why they the real hft use tick farms and jitter stabilizers but what do i know
about any of it. again if it is working for you great but i would get a demo and try it and if during the demo it doesnt blow the doors off of your trading then why add it ?

the only true and proven predictive power has been the 1st level and that is what the hft battle for because if you start filling there then you can keep predicting well and making a mkt based on the orders you are filling. because the hft know what they are filling before anyone else. they know you are filled before you do get it? anyway good luck

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  #599 (permalink)
Malaysia
 
 
Posts: 24 since Aug 2020
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jamrock View Post
I am seriously just blown away at the number of people trying to use jig saw on latent data to get profitable?

it used to be mkt profile 15 years ago with letters now its all colorful same stuff that quit working years ago!!



nothing in time and sales or in the orderbook tells you anything since the orders

can and will be CANCELLED and because you have lot so of hidden orders

that still get cancelled.



the funny thing to me is that people would think smart outfits and algos are not loading up certain areas on purpose to screw with

any and all jugsaw mkt profile volume profile strategies out there because they do same as painting the tape but much cheaper.



If it works for you great but I havent met many huge traders using jugsaw on the regular and i am not here to put down this product I am just

saying all the circles the colors come on there are better ways to work with the mkt.



my question?



why do so many people use jigsaw that are still unsuccessful?

why do the people who "SELL" jigsaw always come up with new latest and greatest gizmos and gadgetry if it was so great before and folks this is an

industry like the GOLD RUSH. sell to the traders but dont trade.



anyway goodluck with it and it is very expensive if you ask me.



THERE is ZERO predictive power or deterministic power in seeing a latent and un hidden order book.

just like tape readers these days.. ahem.. nano second and some pico second changes you never see your computer cannot even

draw as fast as the quotes came into it even if you were DMA. thats why they the real hft use tick farms and jitter stabilizers but what do i know

about any of it. again if it is working for you great but i would get a demo and try it and if during the demo it doesnt blow the doors off of your trading then why add it ?



the only true and proven predictive power has been the 1st level and that is what the hft battle for because if you start filling there then you can keep predicting well and making a mkt based on the orders you are filling. because the hft know what they are filling before anyone else. they know you are filled before you do get it? anyway good luck



But I never seen a video in which they advertise it as “gold rush”. Also, even though I don’t own it, Jigsaw is not an “expensive” platform, unless you are paying subscription to trade live on it, then I might call it “expensive”.

As to whether DOM is reliable or not, I personally (mostly) agree with you. Although it seems most professional futures traders use it.

But if DOM is working for you, don’t see why you would call paying $500+ lifetime for the best tool in the business “expensive ”.


Sent using the futures.io mobile app

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  #600 (permalink)
Montreal, QC, Canada
 
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yolo778778 View Post
But I never seen a video in which they advertise it as “gold rush”. Also, even though I don’t own it, Jigsaw is not an “expensive” platform, unless you are paying subscription to trade live on it, then I might call it “expensive”.

As to whether DOM is reliable or not, I personally (mostly) agree with you. Although it seems most professional futures traders use it.

But if DOM is working for you, don’t see why you would call paying $500+ lifetime for the best tool in the business “expensive ”.


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100% agree with you. I use Jigsaw, $500 is not expensive, its probably the best DOM out there. Just because the other dude can't scalp he decided to sign up here and throw some shade is how he comes off.

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