Jigsaw’s Early Black Friday Sale – 100 coupons – Best Prices Ever
Welcome to Jigsaw’s Early Black Friday sale with record-low prices on the institutional packages and great discounts all over.
If you are on the sidelines, now is the time to jump in at the best prices ever.
We are kicking off with 100 coupons. The rules are simple – Only 1 discount per customer (yes, we do check) to the first 100 customers, but ends 20th November 2022.
Not only are you getting amazing discounts – but you also get our all-new “2022 Order Flow Foundation Course” click here for details.
All daytradr packages come with education, so if you aren’t sure which is for you, click here for an overview.
For new customers, you can get:
- daytradr Independent
$579– Sale Price $479 ($100 discount – use code BF-100 or click here) - daytradr Professional
$879– Sale Price $729 ($150 discount – use code BF-150 or click here) - daytradr Institutional
$1979– Sale Price $1729 ($250 discount – use code BF-250 or click here)
For existing customers, you can get:
- Add on Institutional & Advanced Training
$1647– Sale Price $1397 ($250 discount – use code BF-250) - Add on Advanced Training
$349– Sale Price $249 ($100 discount – use code BF-100) - Annual Live Trade & Journalytix (with live news)
$500– Sale Price $400 ($100 discount – first year only use code BF-100)
For existing/new customers, you can get:
- Journalytix Annual
$399– Sale Price $299 (first year only – use code BF-100 or click here) - Institutional Education (For non-Platform Users)
$1347– Sale Price $1147 ($200 discount – use code BF-200 or click here)
The discounts are valid until 20th November 2022. Only the first 100 people that apply will get the discount. After that, it’s back to full prices and a price. It’s even better value when you consider the recent release of the beta of tick size compression, more chart timeframes and amazing new shortcut keys to help manage your trades.
If you’ve been sitting on the fence about buying the tools, adding a training package or signing up for Live Trading – jump on board this great discount before 100 others get in before you. For new customers – use the links above, for existing members, go to https://members.jigsawtrading.com/member/ and click “Add/Renew Products”
FREE BONUS: Take a look into the decision-making process of professional traders with this video training series that helps you make smarter trading decisions. (Article continues below)
Order Flow itself is simply information. Just like charts, it can be used in a number of ways, some good and some bad. But let's first break down order flow into it's components so we all agree what we are talking about:
Order Executions/Tape Reading - This aspect is the real flow of orders. It's the information we see in Time & Sales, Footprint Charts, Cumulative Delta. It is looking at market orders, either as they execute or historically. I guess this is the "true order flow". Every trade is a buy and a sell. We look at market orders because we consider them to be more aggressive. When someone trades with a market orders, they are giving up a price to get an instant fill. Limit orders on the other hand just lazily sit there waiting for a market order to hit them. Often these are market makers with no directional conviction. So we see market orders as being more significant.
But we don't use these in isolation.
Volume Profile/Positions - The tape reading part helps us assess various things like momentum, traders getting stuck, balance of trade BUT the volume profile helps us understand where people are positioned and likely to get stopped out. I sometimes call this "Order Flew". It's important to know when trades will be "washed out" - for example - if we have a volume cluster on the S&P500 Futures and the market moves up 100 points and back down to it, it's unlikely short term traders on either side that were positioned there will still be there. But recent, nearby volume helps us assess areas of positions.
Market Depth - The bids and offers, the lazy passive orders waiting to be hit. This is part of the story but in terms of overall importance, I'd put it at around 20% at most. For example - if you return to the high of the day on any market, the offers will be quite large directly above the high. It means nothing at all. It's just a quirk of the market. It does not help you tell if a price will hold. On the other hand, if you see large depth and as we approach it, we see more added to the depth in front of that price, it means others are front running that depth and that is a useful bit of information.
This is the key - it is all just information. Just like price charts are information. When people look at Order Flow, they consider it to be a technique more than a set of information. They look for things like iceberg orders and decide to make a one rule trading system to fade every iceberg, For these people - yes, order flow trading is overrated because they are trying to ignore everything else going on in the markets and construct a trading system a chimp could execute.
For those looking to improve a decent trading approach, the best thing to focus on in Order Flow is momentum. Once you can read momentum you can:
- Avoid getting into positions when momentum is against you.
- Confirm trades are working after entry when momentum goes your way.
- Exit trades in profit when momentum fades.
That's perhaps the easiest way to use order flow because momentum is easier to read. It's about the market continuing to do what it's already doing. On the other hand, reading a turn in the market with order flow takes a higher level of skill and a little longer to learn.
Order flow can't put lipstick on a pig. It won't help you 'improve' something that doesn't work anyway, which is why whenever someone calls me, the first thing I ask is what they are currently doing and we discuss whether they need a reset or whether it will actually help.
When Jigsaw started back in 2011 - we were one of the first in the space and certainly had the best education. It was always going to attract the underbelly of the trading education/tools world and now we see stuff out there that is so complex but so impressive and futuristic that new traders are drawn to it like moths to a flame.
So here's my advice when looking at Order Flow
- Order Flow can't improve something that doesn't work.
- Order Flow can be used on it's own, without charts to enter and exit the market but you also have to be able to recognize different market states that need different/altered setups. There is nothing magical about this.
- Don't start jumping at shadows and take 50 trades an hour in your first week looking at Order Flow, be selective. It can be exciting to see cause and effect play out in front of you for the first time but don't overtrade.
- Do drills to learn how to read it before you trade it.
- Markets can only go up and down. Don't overcomplicate it. If you have too many Order Flow tools on your screen - you will not be able to make consistent decisions. Less is more.
- Take time to choose a market with a pace you like. Interest rates might send you to sleep, the DAX might give you a heart attack.
It is hard to see how a set of information could be overrated. It is true that some methods of presenting this information are better than others. It is also true that some people simply get on better with different tools (e.g. Footprint vs DOM).
There's a middle ground between complexity and simplicity that will leave you making consistent decisions where you improve over time. For those people, Order Flow will be way underrated because they will be the one's getting the most out of it.
Those that jump in with both feet on day one and those that have 100 different tools up, for those, it's a painful experience.
Keep it simple and manageable. Start with momentum reading and build from there. You will never look back.
0 Comments