I have done a trial. I couldn't figure how volumes were calculated most of the time, which can be slightly annoyng as it could imply the market ordres coming through are either not correct or volumes aggregated incorrectly.
I don't know, I never managed to get an answer on that matter. Perhaps there is one.
Overall it is too mechanical for me either way, I prefer looking at order flow in a much more "natural" way.
It tries to do what my other tape/Dom tool does very well, only it costs a quarter what mine cost for a lifetime license.
I participated in an in-depth webinar, perhaps hosted by a futures.io (formerly BMT) member, (I can't recall) when Gomi first achieved his legendary status here. It was about 3 years ago. That was the first of my many brushes with his tool.
Dom, thanks for your feedback. However, I do want to add -- if I can -- that I had extensive discussions with with Dominque and went to great lengths to alleviate his concerns -- even providing graphs and charts. His concern was that some of his volume bars weren't matching his other products. I ran tests against several products and found that ours were generally as or more accurate then the products I tested against. The discrepancy he noted was that we allow custom sessions and different start times will change volume aggregation. Basically, our bars are accurate but not aligned with his other product likely because we allow custom start times. In fact, our constant volume bars were more accurate then some other products I tested.
The only other thing I would add is that our product is not mechanical at all. I haven't heard anyone describe it as such. It is a very intuitive product and doesn't lend itself to "mechanical" strategies, at all (for better or worse). For those interested we have a NinjaTrader sponsored webinar this Saturday. You can find it on their site.
Our product does have weaknesses (legitament). It doesn't (currently) work well for historical analysis and its not a fancy charting program. There are better programs that do that. However, I feel for actually trading in real-time it is the strongest. The design was driven by unique real-time trading needs. We offer free trial for anyone who wants to try and compare.
(Note I'm vendor of OFDP. If you have questions please email them to me.)
Last edited by tpredictor; February 21st, 2013 at 05:08 PM.
When a brand new product has figures that don't match those of tools that have been around for a while and are well known to do what they do correctly, it is because the brand new tool is correct and other are not and better than everything else than has been around all those years, is the explanation you gave and are giving now. I find this to be a little bit far fetched, but if might seem perfectly reasonable and plausible to everyone else, I don't know.
You did spend a lot of time and effort answering my queries, answering my question I give you that.
As I said, I feel this is déjà vu, and didn't feel I was getting anything else than I am currently getting from my tools, so I couldn't see any reason to pay a high monthly subscription to add very little to my setup.
Again, obviously this is my opinion and setup, and everyone is different, but as this is a place to share our experience on something we have tried, this is my view on it.
dom64, I'm not claiming that we are not doing things in a non standard way. However, that doesn't make it inaccurate. I've tried to explain how volume aggregation results will be different if you start aggregating the volume at a different start time. This is generally a problem with all volume aggregation methods. We allow the user to define custom start time, and I still suggest that if you define your custom start times to match your contract specs then it may align the bars. It is not an issue we're ignoring but we've researched extensively and tried to explain. Having said that, I have tested our product against several other programs when the results didn't match and in every case was satisfied with our results.
There are many research papers which identify this same problem with any sort of volume measure which is the sensitivity to the start time. If you start aggregating perfect 5k volume bars and you do that 3 contracts off then every bar will be different. And, as I mentioned to you, we'll continue to research how we can better align our bars but based on my research, I'm satisfied they are accurate. Also, I thought we both agreed that this was a non issue for our tape reading, and that you felt our product was "very good" in your own words. Obviously, you decide it wasn't for you in the end.
At any rate, it is understanding our product will only appeal to a "niche" market. We have many customers who are completely satisfied. Sorry it didn't work out for you.
Last edited by tpredictor; February 22nd, 2013 at 04:08 AM.
I don't think this is the place to debate whether or not volume displayed on your tool is correct . I am well aware that volume will differ if you look at different time period, I am talking about comparing apple to apple, there is no need to make it sound like you tried to explain that, but I was too thick to understand it.
I am delighted to see people are totally satisfied with your offer, this was not for me indeed, as when presented with the options of equal things, I go with the much more reasonably priced one if there is such an option, as there are much cheaper and just as good alternatives out there.
This is just my opinion, as this is a place to review vendors and products, and I am therefore entitled to say what I think on the matter and anyone interersted should check for themselves as opposed to believe what I say, as I might well be some crazy guy who doesn't know anything I am talking about as it has been seen before on the Internet.
This a brief review of Order Flow Dash Pro following my free trial period. I happened onto this before the product was released after experimenting with the 1LotDOM and previously the jigsaw trading tools.
I would say that it's a nice package that combines a more robust DOM than the stock Ninjatrader DOM that gives additional options to change how data from the order book is displayed. Mainly by using histograms and color shading to highlight high volume areas for possible breakouts or reversals as I understand it. As it states on it's website it is not intended to be a replacement for a full charting package such as market delta, sierra chart in that the delta profile included in the software does not provide historical analysis of data. It is meant more as a real time order flow analysis tool to take advantage of real time data to make trading decisions IMO (which is pretty much what any worthwhile trading software is supposed to do).
Depending on your trading style this product can be helpful to you since there are so many different ways to perceive and read data before pulling the trigger to open a position and the software is very customizable to fit individual preferences and needs.
Although I find it hard to justify the advertised monthly fee of $150.00 based on the fact that it is a Ninjatrader add-on and not a stand alone platform. Compared to a lifetime license of $349 for Jigsaw it's a bit high in addition to the fact that it doesn't yet have the ability to display live trades on the DOM as Jigsaw currently allows you to do.
I recommend trying it for yourself and seeing what you think. In my personal experience it's better to take reviews and recommendations at face value and see for yourself unless it's going to cost you. In this case there is a free trial so the risk is minimal to decide for yourself if this is something for you.
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IMO the features list is mostly covered by other tools at a lower cost. Although the footprints on the ladder look similar to Market Delta Traders Dom. Unfortunate though that you cannot yet/still trade on OFDP's dom.