Day Trading and Order Flow
Order Flow is a classic among day traders and is gaining popularity ( still don't know what Order Flow is? ). Many trading schools include it in their curriculum, and more and more platforms allow us to read the 'Order Flow' ; among these platforms, Jigsaw Trading stands out among day traders . Here's why.
Jigsaw Trading Analysis:
Jigsaw Trading offers a set of Order Flow which are: The Tape (time & sales), the DOM (Depth of Market), an Order Map and recently also Volumetric Candles.
These are the basic working tools, but that's not all. Jigsaw Trading also offers courses (only in English for now), an online community, and the possibility of trading directly from the DOM, all depending on the plan you subscribe to.
So, what is the tape? Since there's a lot of literature on the subject, I'll just say it's the number of buy orders versus the number of sell orders executed. It's the most basic and rudimentary tool in a trader's arsenal (pure numbers and no charts), and while every trading platform includes some version of the tape, Jigsaw Trading to others simply because it sums up the orders that come in at each price level (this is the Summary Tape , and you can see it in Example 1).
Example 1: Summary Tape Jigsaw Trading
Due to CME regulations, the tape has long shown only the orders executed by the same buyer/seller at each price level, usually one buy or one sell order per level (you can see this in Example 2; Jigsaw Trading calls this Reconstructed Tape ).
Example 2: Reconstructed Tape Jigsaw Trading
While Jigsaw Trading 's tape displays the total of all orders, the default NinjaTrader version only shows one contract per row or those traded in a block. If you trade with the tape, you'll definitely notice the difference.
Jigsaw Trading 's DOM also offers a substantial advantage over the DOM we have in NinjaTrader . The main advantage is that in Jigsaw Trading 's DOM we can see the number of orders that impact the bid and the number that impact the ask , while in NinjaTrader 's we only see the total number of traded orders .
Is the DOM difficult to read? A little, it takes some time, but it's much harder to trade without it once you've gotten used to using it. Below you can see what Jigsaw Trading's DOM looks like.
Finally, we have the tool called Auction Vista (I use it quite a lot in my intraday operations). This is basically an Order Map. If reading the DOM and the tape seemed very complicated, with Auction Vista you will see this task significantly simplified (because what you will have in Auction Vista will be the same information that you can see in the DOM, only in a more user-friendly format).
Believe me when I say that if you're used to entering the market by only looking at Japanese candlesticks, you'll discover a whole new world when you try this tool. Of course, it takes some time to learn how to use it, but once you've done so, you'll be trading at another level.
Conclusion:
An essential tool for those seeking to delve deeper into trading with the Book and the Tape , as well as for those who find in Order Flow the answers that candlestick analysis alone does not usually provide.
I personally use Jigsaw Trading 's tools in my daily trading, and while it's true that it doesn't guarantee I'll be right on every trade, the fact is that once you get used to the tool, it's usually easier to identify the market trend or intention.
I sincerely believe it's worth the investment (although the learning curve isn't the easiest, you need to be patient).
My name is Norberto. I've been investing and trading for over a decade. I'm also the author of the Topstep Experience trading course. If you want to learn how to invest and have any questions, feel free to contact me.
Which is the BEST STOCK BROKER?
GUIDE TO CHOOSING A SAFE BROKER TO INVEST IN STOCKS AND ETFs
BEST FOREX BROKERS: YOUR REGULATED TRADING
Hi...excellent post. I have a question that you might be able to answer. I saw that you can buy the "basic" platform for $570, but do you have to pay an annual subscription of $500?
Thanks.
Hi Fabio,
The subscription is for those seeking training (I'll check, but I don't think this has changed). You don't actually need to pay for it if you've already taken a course that covers Order Flow.
Greetings
Thank you so much for replying!
I was asking because the product description has two asterisks (**), and those asterisks indicate that you need a subscription to use the product. If you could look into it, since you'll understand better than I do, I'd really appreciate it.
Thank you.
Hi Fabio,
Now I see what you mean. The subscription you mentioned is for trading directly from the Jigsaw Trading platform. I use the platform to view the order flow, but I place orders with NinjaTrader, so I don't pay a subscription fee. However, if you're interested in placing orders with Jigsaw, you can do so by paying for the subscription. I hope that's clear now 😉
Greetings
Now I understand perfectly. Thank you so much for everything!
Good afternoon. While searching for a book map, I came across Jigsaw. Since you seem to have experience with it, could you give me some guidance? Which package do you recommend, the Independent or the Professional? Also, is it compatible with Ninja 8? By the way, thanks to your comments, I discovered Enrique Valdecantos and Ferran Font—they're fantastic! Many thanks; they've changed my perspective on the market. Cheers!
Hello Agueda,
I have the most economical Jigsaw Trading package and it's always been more than enough for me. The professional package is only worthwhile if you're interested in the training they offer, which I haven't found sufficient to recommend. The software works flawlessly with NinjaTrader 8, as well as with many other platforms. As you rightly say, Enrique Valdecantos and Ferran Font are two experts in this field, and I'm glad to know my small contribution led you to them 🙂
Greetings
Hi Luis, I know that Jigsaw will eventually incorporate more comprehensive charts into its platform, including Market Profile. I also know that Tradovate offers Market Profile, but only as an external plugin that costs an arm and a leg. Right now, I feel like I'm trading blind without it. On top of that, I'm trying to win the funding challenge, and I'm running out of money.
That's why I wanted to ask if you know of any platform that offers Market Profile for free?
Hello José,
I don't know of any that are completely free. It's a shame because it's a tool I really like and it's not difficult to program; trading platforms could offer it in their demos. Even TradingView only offers it in their paid account. Sorry.
Greetings
Thanks, and sorry for changing your name. I'm looking into using MQL5 and getting into CFDs on futures. Cheers! ;D
Hello,
It's a very good option. Not only for indices but also for stock CFDs.
Greetings
Hi, for MT4 and MT5 you can use ClusterDelta which offers volume and profile indicators at a low cost, the premium version is only €7.50 per month, it works quite well, I'm only using the demo version at the moment.
http://my.clusterdelta.com/download
Hi, I wanted to know if you know of or have a Jigsaw manual in Spanish, or how to configure it depending on the asset you trade. For example, I trade S&P and I'd like to know how to configure it. Thanks
How are you? We exchanged a few emails a while back, and you gave me some great advice. I wanted to ask you about Jigsaw.
I currently trade using price action and volume, and I wanted to add order flow to my trading, mainly to be more precise with my entries and have a broader understanding of what's happening with the main chart and the order chart. My question is this: In NinjaTrader 8, you can only get Order Flow by paying for a lifetime license, which is out of my budget at the moment. But my main question is what tools does Jigsaw's Order Flow include? Besides the order chart, the main chart, and the order map, does it include anything else like volume candles or vertical volume?
I'm sending you a big hug and thanking you again for your help.
Best regards.
Hi Facundo,
I remember the emails, I'm glad they were helpful :). Jigsaw Trading doesn't offer volume candlesticks similar to those in the lifetime version of NinjaTrader; if that's what you're looking for, you're better off looking at ATAS. Both Ferran Font and ArmagaFX often use ATAS in their scalping strategies (I should clarify that Ferran doesn't only scalp; it's one of the strategies he teaches).
Greetings
Hi! I have a few questions. I use cTrader and my broker is FXPro. Which one do you recommend, ATAS or Jigsaw?
Greetings
Hi Miguel,
Regardless of platform integration, I must say that ATAS and Jigsaw are very different tools. Jigsaw is essentially an order map that also includes a very good DOM, while ATAS primarily (though not exclusively) offers what are called 'volume candles' (also known as 'footprints'). They are different ways of trading, so it's not that one is more recommended than the other; rather, some traders prefer the order map, while others prefer zooming in on each candle. Many people combine both tools depending on the timeframe they are trading. I don't know if this answers your question.
Greetings
Hello. This week, the CME fees for non-professional and professional traders have changed. I've read that if you use more than two platforms, you're considered a professional trader, and the fees increase considerably. I wanted to ask you which futures trading platform you recommend (NinjaTrader, I assume, initially) using in combination with another that provides market profile, volume profile, and the Order Flow tape? Thank you very much in advance
Hi Javier,
Sorry for the delay, I hadn't seen this message. I use Jigsaw Trading and NinjaTrader (I mainly use the DOM and Volume Profile), but many people I know prefer to trade with ATAS. It all depends on your strategy. It's a very personal matter, really… you should test the platforms before deciding.
Greetings
Hello,
I have a question. I'm thinking of buying this platform. My question is, can Jigsaw be purchased as a standalone platform (like Multicharts or Atas), or is it only used through plugins within other platforms?.
Thank you very much in advance for your response.
Hello Alejandro,
You have the option of accessing a standalone version called 'daytradr'. However, I think it can be somewhat confusing to use unless you combine it with a more traditional chart. Or perhaps it's just a matter of training your eye. Look into it carefully before buying it.
Greetings
I understand, thank you very much. I wanted to recommend a course that I think is fantastic, so you can check it out when you have the chance. The website is http://www.tradingenprofundidad.com. In my humble opinion, it's a hidden gem among trading courses. The price is very competitive, and they primarily teach you how to trade with the DOM and Order Flow. They also cover Market Profile, specific strategies, and are very well structured. Take a look when you have the opportunity, and it's great that this website supports courses that, even if small, demonstrate that they have something to add and teach to our journey to becoming profitable traders.
Hello Alejandro,
If I remember correctly, a colleague here had already mentioned this course to me. I haven't had the chance to look into it in detail, but what I've seen looks promising. Thanks for the recommendation! 😉
Greetings
Hi, good afternoon. My head is spinning. I took Ferran's course, and thanks to you I've been trading on IG and XTB. Now I'd like to buy Jigsaw, but I don't know which broker to use. Could you advise me?
By the way, do you know if they let you try Jigsaw with this demo account? https://demo.ampfutures.com/jigsaw-cqg-demo-registration-form
Hello Aitor,
Jigsaw Trading integrates very well with NinjaTrader and AMP. However, if you've been trading with IG and XTB, you might not be day trading. Before buying the software, I recommend carefully considering whether this is the type of trading you're looking to do. I like Order Flow tools, particularly Jigsaw Trading, but the type of trading required with these tools is usually quite demanding in terms of concentration and time. If you think this is for you, then go for it.
Greetings
Could you tell me the costs for accessing real-time data for markets like the mini S&P 500 and crude oil, or where I could find the different costs for real-time trading, as I can't find it? Thanks.
I have a PRT real-time account, but from what I understand, Jingsaw doesn't work with this platform. What I really want is to practice with a demo account and Jigsaw until I can learn it and then try to implement it in my trading. Thanks
Hi Luis,
The truth is, I don't have the information you're asking for, I'm sorry. I'll email you Peter Davies' contact information, CEO and founder of Jigsaw Trading; it would be much better if you asked him directly for this information.
Greetings
One buys the license, and then has to pay for real-time data for each market? Thanks
Hi Luis,
If you have a broker, no, because Jigsaw works as a plugin, drawing data from your trading platform. However, you can also purchase the platform as a stand-alone version; in that case, you won't need another platform, but you will have to pay for the data.
Greetings
Can I see volumes for the S&P 5000 and other indices?
Hi Isai,
Of course you can. I use it with the CL, YM, and 6E.
Greetings
Hello
Which jigsaw plan do you use? The jigsaw is used within NinjaTrader, correct? Thanks
Hello,
I bought the cheapest one and that's enough for me. It works like a NinjaTrader plugin, and I really like it. Keep in mind that using it properly requires a slow learning curve, I'd say several months.
Greetings