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Thats great, i understand that all traders trade differently so no worries if you canīt answer this. I feel like the market internals you use are really good but something iīve wondered for a while is:
Internals can be very useful when trading futures, but do they work on currency futures aswell?
Anyway, a bit of topic.
If anyone know about a good platform offering a good level 2 screen please tell me
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
I think there might be a EUR VIX as an internal for the 6E also an OIL VIX I know for sure for CL but IMHO they aren't the quite the same as using the VIX for index futures and specifically for ES.
The internals I mentioned earlier won't work IMHO for currency futures.
Iīm very openminded on what instrument to trade Iīve been looking at stocks, but i also really like to trade on the currency cash market (spot fx) using currency futures as a guiding instrument.
Even if i cant see the marketmaker it can probably be used in the same way, slight advantage too have market makers id but could work without aswell i think.
Is anyone here using ninjatraders level 2 + time and sales. Is it accurate or is it a neewbie tool? ^^
Ron you where using the jigsaw right? Have you tried the function that plots arrow on the screen automaticly when theres an iceberg? Does it work or is it better/more accurate to still compare the time and sales with the Dom? Iīve only heard about that function but really curious to know
And thanks to all, i wasenīt expecting this much answers haha, suddenly i dont feel alone trading over here
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
Thanks Received: 4,518
IMHO definitely not a newbie tool... exact opposite... yes newbies play around with it and don't understand and can't use it ...much like my kids loving to watch SpongeBob SquarePants but not getting, in the least, the underlying adult humor peppered throughout.
Even better is Peters's (Jigsaws creator/owner) Auction Vista.... here is the circles are set to their least sensitivity or where you get the most of them on the chart.
Four years ago I was using the iceberg alerts and their great if you have the right setting set up for the current market conditions but still only at key areas not for every alert that might pop off. These order flow tools, like time and sales, DOM and delta etc need to be utilized at very specific times. Most of the time it's just noise. I know some guys that spent years trying to understand and jump around buying different order flow tools thinking it will somehow be better. Trying to make sense out of it every single minute and be totally frustrated and thinking they are just not "good" traders.
I can recommend JigSaw and ATAS (Advanced Time And Sales). Last one is independent platform which requires datafeed also. You can register Demo with cqg datafeed by default
Hay mate, very nice to be here.
I have a question for you about Jigsaw as I am thinking about start using it but I have 1 concern about it and you might help as you familiar with it. Im trading exclusively stocks and a lot of times stocks without a lot of liquidity, I saw it happening on my IB BookTrader, there is huge gaps between each price because of the low liquidity, and it make it almost impossible to trade only depend on the DOM , the DOM jumping up and down between prices. I basically can see the offer @ 5.00 and next offer is @ 5.30. (30 tickes between offers) so there is no way to see those offers at one time, I wonder if Jigsaw have some solution for it? or there is none because it's basically build for futures where there is a lot of liquidity and this is not an issue there.
Hope to hear your thoughts or suggestions.
As far as I know Jigsaw works with trading platforms for futures instruments only so it would not apply to trading stocks. But my knowledge of availability may be limited - @DionysusToast owns the company so he may be able to confirm when he's back from holidays.
But from what you write it appears that the main problem is lack of liquidity to the stocks you are looking at. If that were to be the case, no tool would be able to solve that: it's simply a matter of stocks with low liquidity. And if that is an issue, would looking at more liquid stocks or a different type of instrument altogether help?
Thanks for quick reply, yes I thought the same but want to be sure there is no real technological solution for this. I like to trade stocks with lack of liquidity and very low float as those are the most profitable for me because of my small account, I can't really trade AAPL or SPY or any other super liquid contract because of the very small moves they make. 1$ move for SPY is a daily move and with my small account to buy or short 40 contract to make 40$ it doesn't make sense.
Thanks for approve my thought, I guess I will have to relied just on tape to try found entry points for those low liquidity contracts. (: