I am currently learning tape/DOM reading and Jigsaw Trading products have aroused my interest.
All the more as they have been recommended to me by a full-time DOM trader.
Is anybody using Jigsaw products and willing to share his/her view?
In which aspects to they make a difference compared to "normal" tape and DOM?
(Of course, I have read the description of the products, but which features have you found to be a real "bonus" in your actual trading?)
Do these tools also help in the learning curve of tape and DOM reading (more useful screentime)?
Do you use the tools alone, or in combination with other things?
I bought Pete's stuff and i believe it was worth every penny. First i thought i would use the reconstructed tape exclusively to confirm entries in my own plan. But i have recently shifted toward using his version of the DOM which is a bit overwhelming when you first look at it...there are a ton of numbers and it is intimidating at first. But i started watching it around my setups and what i found was that the change in the limits in the book - which his tool shows in real time - was very valuable information for me.
Without going into mind numbing detail, it allowed (i have been sidelined from trading for the last month for personal reasons) me to really cut some trades short that ultimately would have hit my stop. This aspect worked great on the currencies (6A, 6B and 6E) and some of the indices (NQ, ES, but not TF or YM fyi) for me. I use it to confirm entries and assist in my money management on trades.
I now watch Pete's DOM and Summary tape on each setup and am still leaning. He also has lots of good free learning in his forums. for 300 or so $$$ its a no - brainer. When I bought it, i did so with the mindset that i was buying a "tool" that would take me years to master/learn. being a 'part timer' i found it added value within thirty days.
Watch his DOM around key levels for several hours a day and it will make sense. Now what would be astounding would be if you could actually trade on his DOM ....cmon Pete - i know you can do it.
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I bought the Jigsaw products about 4 months ago. Only get to trade live at this time about one day a week but Pete's
products are basically all I have on my charts. The DOM hasn't helped me as much as the reconstructed tape has but
that's probably because I trade a thin market. I use 2 recon tapes and just a couple of lines of the summary tape .
Pete has answered any questions I had promptly and has a ton of free info on his site.
Still struggling to understand all its potential but of all the indicators I have purchased in the last 3 years, this is
the only lot I would purchase again if I had to.
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tried the product, after awhile your eyes go crazy watching all those numbers go up and down, same for my trading buddies, better idea ! some programmer should attach the prints and the dom sizes as they change on the actual chart, something like the GOM delta ladder only for T&S prints and DOM bid ask volume size
Is your comment (too many figures going up and down) targeted at Jigsaw products in particular or tape/DOM reading in general?
By design, it seems to me that there are less figures on Jigsaw tapes compared to "normal" tape. Simply because the reconstructed tape is an aggregation, and the summary tape is... a summary.
With respect to the Depth & Sales, for sure there is more information than on an "usual" DOM. But isn't it the reason of the very existence of this tool? (bringing relative persistence to the DOM). When we buy a product which gives information, it is not abnormal that... it gives information. By the way, all columns may be hidden in order to keep only the additional information that you need.
Do not misinterpret me. I am not criticizing your criticism. Just trying to see if your feeling is coming from the tools or from the field (tape/DOM) in general.
For the sake of transparency: I am not associated with Jigsaw but I am a (recent) client.
Last edited by Nicolas11; September 18th, 2012 at 03:10 AM.
Reason: correction of typo
its not a tool you can look at for a week or two and fully comprehend it. You really have to be committed to using it to find it valuable.
After 6 months of watching it around every one of my "setups" i have found patterns and "feelings" from watching it. It has kept me out of some full stops and kept me out of some winners. However, i can now sense when my entry is going to stop me lowering my average full stop from 10 or 11 ticks to 5 or 6 ticks.
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Today my biggest winner on NQ was "almost a setup" on my charts. By that I mean it was not quite an ideal entry that i was watching and, exercising good discipline, i was holding myself back from entering.
I was watching Pete's DOM and the rhythm of the bids and offers being pulled. All of the sudden it just "felt" very heavy and I knew it was going down. Entered and had a nice runner.
I also took another trade that by my rules would have been a full stop. Using Pete's tools I did not like the action on the DOM when it was in my favor by a couple of ticks and I limited my way out. Without Pete's tools i would have just sat their waiting for my stop to get hit.
Disclaimer - I have spent A LOT of time staring at these things.
When i first bought Pete's stuff - my monitor was 90% charts and 10% Pete's stuff. Now i am 50 - 50 as i stare more at Pete's tools than my charts.
I actually think the 6A and 6E are the easiest to use these tools on.....they are not as jumpy as NQ or TF.
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As I said in an earlier post, I bought the Jigsaw package for my PC. Due to my wife's health, we will be spending the next couple of months in Houston, Texas. I emailed Pete, explained my situation and asked about purchasing the indicators for my laptop. He emailed right away and gave me the new indicator package.
Thanks Pete, your a class act.
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I usually code all my own indicators, but became really interested in Pete's Depth&Sales tool. I contacted him and he set me up with a free trial. After using the products for a couple weeks, I decided they were worth every penny he charges (This is the ONLY tools/indicators I have ever spent $ on)
Reconstructed Tape: There are many "reconstructed" TS tools out there, and a lot of them are great tools(@vvhg 's aggregateTS comes to mind). This tool has a couple features that gave it the edge in my book. The first feature is being able to see the size of the Bid/Ask when a trade is reported, and the second is the ability to split Bid and Ask in separate windows. I personally have 3 TS windows open, 1 with all trades,1 Bid, and 1 Ask. Sometimes having the trades split this way make it easier to see size and levels being penetrated. The window with all the trades gives me the "flow" of the tape, which is pretty important during active periods.
Summary Tape: I don't really use this tool too much because I can't feel the flow like the regular tape. Maybe I'm just used to a regular tape, but I can't get used to this tool. However, I do use the tool. The iceberg feature is the main reason I use this tool. Maybe seeing it used in a live trade might sway my opinion, but for now I keep this window minimized and use it as an iceberg hunter
Depth&Sales: This is my favorite tool in the package, and is in a tight race between it and MP for my favorite tool. If Pete added VA levels and VWAP to Depth&Sales, it would win my award for the best tool out there This tool is a DOM on steroids. It is a combination of MP, DOM, T&S, and Delta. I'm sure this much information can be overwhelming, however if you already pay attention to MP, LII data, TS, and Delta, this puts it all on one screen.
I consider this package a set of tools, not an indicator package. There is no buy here sell there signals, just A LOT of information that can be very useful if you are used to using that information. I am no pro, and do not claim to be one, but I can say that these tools add to my trading rather than distract me from what the market is actually doing.
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