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Interesting thread. The product I use is the S5 Bookmap which is the same as Bookmap. It is my preferred execution tool now because it puts the DOM, prints, depth, my orders and everything else I need in perspective in one spot. There will be some additional improvements that I'm making to it as well. It is the original depth and order flow heat map.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
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Although much of what is in it now comes from Jigsaw - don't forget that Morad
In terms of what Sierra have developed - I would imagine a number of vendors are now developing something along a similar line.
The bottom line though - is that despite the pretty historical depth views - the depth is perhaps the least important set of order flow information. It's fake most of the time. If you were to lean on above average depth each time you saw it - you would lose money. Mostly because the depth is there to entice you to do something stupid.
Footprint charts and other tools that show you where people are positions will always be superior because when a cluster of positions exist in an area, you know with a much greater certainty that people will react to a move away from that area. The same cannot be said about market depth because it does not represent existing risk.
So - on the Sierra screenshots - the execution data is still the most valuable.
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
The SC iteration has more potential than any of the independent vendor products- no offensive to BM or Jigsaw( Both seem like great products), it's just that SC is offering it in a full scale platform.
With SC you can access historical market depth via ASCIL, so there is lots of potential for advanced customization. It's unprecedented in terms of an out of the box retail platform.
The advantage for your average user is that the Market depth historical graph functions just like any other study, thus can be added to a single chart, or combined with multiple other SC studies, making it easier to combine into your current trading. furthermore, without any custom programming you can come up with something that no vendor currently offers Eg a pretty historical depth combined with a footprint chart/ vol profile/ VWAP band Study etc.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
If I remember correctly, SC had future plans to offer historical market depth data via an add on service.
"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"