NexusFi: Find Your Edge


Home Menu

 





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


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Jigsaw Trading with 176 posts (350 thanks)
    2. looks_two matthew28 with 38 posts (39 thanks)
    3. looks_3 Big Mike with 31 posts (120 thanks)
    4. looks_4 paps with 29 posts (25 thanks)
      Best Posters
    1. looks_one Big Mike with 3.9 thanks per post
    2. looks_two Blash with 2.4 thanks per post
    3. looks_3 Jigsaw Trading with 2 thanks per post
    4. looks_4 matthew28 with 1 thanks per post
    1. trending_up 319,170 views
    2. thumb_up 840 thanks given
    3. group 373 followers
    1. forum 731 posts
    2. attach_file 91 attachments




Closed Thread
 
Search this Thread

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

  #71 (permalink)
 RichardHK 
Hong Kong
 
Experience: Intermediate
Platform: NinjaTrader, TWS
Broker: IB/Kinetick
Trading: ES
Posts: 236 since Jan 2012
Thanks Given: 132
Thanks Received: 340


DionysusToast View Post
No worries.
... ...So my guess is - replay won't ever give us the same feel as a live market and a screen recording will always have the edge.
Plus a screen recording you can go back and forwards without having all the screens refresh.
So my preference is a screen recording anyway - for those that use order flow extensively and want to replay setups.

Thanks again Pete,

I will setup screen recording soon as upgraded CPU/board/more RAM on PC runs very well. Plenty of spare power.

Not sure if you were following yesterday's market closely but there were many extremely interesting order flow happenings throughout the day. Many times the D&S looked just like it does before the NYSE close with massive orders each side. I scratched a short soon after placing, as 8,000+ orders appeared at same price after placing order! But as many times before, and I didn't want to trust it, the bids were pulled after 2,000 or so were eaten up and it went down 2 points as expected. Weird stuff. I might just review over weekend and drop a video here, but don't bank on it.

Update 11:50 EDT Friday: That bizarre D&S action just started again! Spoofs, super-spoofs, and whatever else.

Richard
Hong Kong
Thanked by:

Can you help answer these questions
from other members on NexusFi?
Online prop firm The Funded Trader (TFT) going under?
Traders Hideout
ZombieSqueeze
Platforms and Indicators
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Futures True Range Report
The Elite Circle
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
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
  #72 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393


RichardHK View Post
Thanks again Pete,

I will setup screen recording soon as upgraded CPU/board/more RAM on PC runs very well. Plenty of spare power.

Not sure if you were following yesterday's market closely but there were many extremely interesting order flow happenings throughout the day. Many times the D&S looked just like it does before the NYSE close with massive orders each side. I scratched a short soon after placing, as 8,000+ orders appeared at same price after placing order! But as many times before, and I didn't want to trust it, the bids were pulled after 2,000 or so were eaten up and it went down 2 points as expected. Weird stuff. I might just review over weekend and drop a video here, but don't bank on it.

It was my wife's birthday yesterday. Trading would have resulted in castration.

Here's a couple of things to look for as you replay it....

1) Say you get an iceberg on the bid - say 4000 contracts hit into the bid at 1960.25 BUT the market chews through it anyway and you tick down.

So now you are Bid 1960.00 and Offer 1960.25 - now there's an iceberg on the offer and 4 or 5000 or more trade there.

Bidders stepped up, sellers sold through it then the sellers stepped up on the offer and held it. That's good from a short perspective - quite often on only a very shallow pullbacks.

2) But let's face it - shallow pullback suck most of the time - so sometimes you look up and there's a step above but only 3 ticks. Leaning on those can often be disastrous. So for me it's best to let go through that close step which is often just part of a 3 tick cluster. Anyway - let it come back 6-8 ticks (or what is average for the day), to the next step up. Anyway - when it gets to that step - just look for nothing instead of looking for something. The nothing is 600 @ offer tick up, 700 @ offer tick up, 500 @ offer tick up - then 23 at offer, pause. Maybe a tick down and then back to it and 40 trade. You have the step - you have a full swing and you get no-one hitting into the offer @ a price. This is more seeing stuff no longer there in the order flow that seeing obvious things like an iceberg.

Just on the offchance you are not watching for these things.

Hope that makes sense...

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
Visit my NexusFi Trade Journal
  #73 (permalink)
 pipandrun 
Cologne, Germany
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader 8
Trading: ES
Posts: 721 since Jul 2013
Thanks Given: 2,154
Thanks Received: 1,215



DionysusToast View Post
It was my wife's birthday yesterday. Trading would have resulted in castration.

@DionysusToast

lol...so your wife is thai( like mine)? Sounds familiar!

Waiting, Discipline and Patience Pays!
Visit my NexusFi Trade Journal
  #74 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393


pipandrun View Post
@DionysusToast

lol...so your wife is thai( like mine)? Sounds familiar!

Yes she is - she's an Asian woman and therefore 'obviously' subservient, I make all decisions in my household.

me "where shall we go for dinner honey?"
wife "up to you"
me "OK - let's go for an Indian"
wife "no - mai aroi"
me "Ok then, where?"
wife "up to you"
me "Italian?"
wife "no"
me "English?"
wife "no"
me "French?"
wife "no"
me "Chinese?"
wife "no"
me "Thai?"
me "OK - honey, if that's what you want, we'll have Thai".

See - Lord of the Castle, he who wears the trousers, ultimate maker of all decisions in the Toast household am I.

A little culture clash always keeps a marriage interesting.

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
Visit my NexusFi Trade Journal
  #75 (permalink)
 haljordan 
LA, CA USA
 
Experience: Intermediate
Platform: ToS, SC, Jigsaw
Trading: Index and Energy Futures, Forex, Options
Posts: 53 since May 2014
Thanks Given: 18
Thanks Received: 14

@DionysusToast

pete, sort of a request/enquiry. VWAP, VA and POC are already included in the volume profile. have you ever considered including the "Mid" as well? (HOD+LOD/2). a simple but awesome functionality to have. just a thought.

thanks for the chop webinar today. big jigsaw fan.

  #76 (permalink)
 
Jigsaw Trading's Avatar
 Jigsaw Trading  Jigsaw Trading is an official Site Sponsor
 
Posts: 2,988 since Nov 2010
Thanks Given: 831
Thanks Received: 10,393


haljordan View Post
@DionysusToast

pete, sort of a request/enquiry. VWAP, VA and POC are already included in the volume profile. have you ever considered including the "Mid" as well? (HOD+LOD/2). a simple but awesome functionality to have. just a thought.

thanks for the chop webinar today. big jigsaw fan.

What we will do - is give you the ability to add in your own levels.

So we wont do it but we will let you do it - but we are working on a major release now, so don't expect anything this side of 2015!

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
Visit my NexusFi Trade Journal
Thanked by:
  #77 (permalink)
 haljordan 
LA, CA USA
 
Experience: Intermediate
Platform: ToS, SC, Jigsaw
Trading: Index and Energy Futures, Forex, Options
Posts: 53 since May 2014
Thanks Given: 18
Thanks Received: 14


DionysusToast View Post
What we will do - is give you the ability to add in your own levels.

So we wont do it but we will let you do it - but we are working on a major release now, so don't expect anything this side of 2015!

nothing this side of 2015 ...

thanks pete...

  #78 (permalink)
 
TIFONTrader's Avatar
 TIFONTrader 
Prague Czech Republic
 
Experience: Beginner
Platform: Sierra Chart, daytradr
Broker: EdgeClear
Trading: Eurex Futures
Posts: 517 since Nov 2011
Thanks Given: 1,338
Thanks Received: 451


DionysusToast View Post
What we will do - is give you the ability to add in your own levels.

...we are working on a major release now!

Any time soon? Any time soon? Any time soon?
Cannot wait...

OK (a loooong sigh), take your time, I do not want a rushed thing .

Happy Friday.
Hana

Follow me on Twitter Visit my NexusFi Trade Journal
  #79 (permalink)
 
tinkug112's Avatar
 tinkug112 
Vizag+india
 
Experience: Intermediate
Platform: NinjaTrader
Trading: Nifty
Posts: 90 since May 2012
Thanks Given: 110
Thanks Received: 89

This question had been puzzling me for quiet some time.
Note: I trade Indian index only excuse me if some errors

1> I understand Index is derived from set of stock. Example ES --> Citigroup, Microsoft so on.
Index will change when these stock prices change. How can Bids/Ask prices in Index futures effect index future price ?

2> Why do correlated instruments move with such precision (ES,NQ). Even if some diversion is seen for some time, they catch very soon.

Thanked by:
  #80 (permalink)
FalseProphets
Toledo, OH
 
Posts: 41 since Nov 2012
Thanks Given: 16
Thanks Received: 46


This is a thinking man's/woman's question.
All derivative instruments generally have a few banks who have been charged with arbitrage responsibility. The intention is to keep indices, ETFs, options in line with the underlying basket of assets. I would advise you read some white papers on ETFs available online to see how this done. This would answer question 1.
As far as index correlation is concerned, this is largely the doing of market participants and self fulfilling prophecy. If you have access to wealth mgmt. firms who trade actively, I would advise that you seek an opportunity to shadow, if they will let you, of course. Its common practice for a portfolio manager to buy known correlated "Risk-On" instruments together and dump them together during "Risk-Off' modes. The herd mentality feeds this to some extent as well. The correlation breaks down when a fundamental news on Apple will cause Nasdaq, for example, to totally run on its own for a few days causing a mixed market scenario. During these days, NQ will look nothing like ES. They will resume the correlation again in the absence of any significant underlying fundamentals.
Hope this helps.


Closed Thread



Last Updated on April 13, 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