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Jigsaw Trading's Peter Davies - Ask Me Anything (AMA)
Started:March 9th, 2013 (12:29 AM) by Big Mike Views / Replies:67,463 / 306
Last Reply:October 25th, 2016 (05:35 AM) Attachments:63

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

Old July 11th, 2014, 12:22 PM   #71 (permalink)
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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

Last edited by RichardHK; July 11th, 2014 at 12:52 PM. Reason: Update comment...
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Old July 11th, 2014, 01:09 PM   #72 (permalink)
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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...

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Old July 11th, 2014, 01:29 PM   #73 (permalink)
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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!
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Old July 12th, 2014, 11:52 PM   #74 (permalink)
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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.

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Old July 17th, 2014, 10:24 PM   #75 (permalink)
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Futures Edge on FIO

Are you a NinjaTrader user?

 
@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.

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Old July 18th, 2014, 04:45 AM   #76 (permalink)
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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!

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Old July 18th, 2014, 12:33 PM   #77 (permalink)
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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...

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Old July 18th, 2014, 01:55 PM   #78 (permalink)
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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


Last edited by hadamkov; July 19th, 2014 at 01:44 PM.
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Old July 19th, 2014, 01:40 PM   #79 (permalink)
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Relation Between Index Stocks and correlated instruments

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.

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Old July 19th, 2014, 02:43 PM   #80 (permalink)
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Great question...


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.

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