If you’re a day trader or aspiring to become one, it’s crucial to have the right platform that aligns with your trading style and objectives.
As you navigate the dynamic world of order book trading, Jigsaw Trading has made quite a name.
Let’s delve deeper into our Jigsaw Trading review, shedding light on its features, pros, cons, and whether it fits your trading endeavors.
Jigsaw Trading is an impressive platform designed for day traders, offering an array of tools and educational resources to aid in effectively trading using order flow charts.
Order flow trading differs from the conventional technical analysis that most traders might be accustomed to. Yet, it’s rapidly gaining favor due to the rise of high-frequency trading and the sped-up nature of modern trading.
Jigsaw Trading caters to both the greenhorn and the veteran’ tape traders,’ cementing its position as one of the most popular resources for order book trading. Traditional trading relies on technical and fundamental analysis when initiating a trade.
In contrast, Jigsaw Trading flips the script and employs a variety of tools to instruct traders on utilizing order flow charts to make trading decisions.
Founded in 2011 by Peter Davies, Jigsaw Trading is a privately-held company offering innovative solutions to traders dealing in stocks and futures. Out of more than 280 trading software options, Jigsaw Trading is the most preferred, serving over 3500 customers globally.
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Jigsaw Trading is a comprehensive platform tailored for traders who value precision, swiftness, and efficiency when navigating the markets. Built on the principles of proprietary trading techniques leveraged by institutional traders, the platform presents data in an accessible, trader-friendly format.
Here’s a rundown of some of the key features:
- Platform Compatibility
The software operates effectively on Windows and Mac (with Bootcamp/Parallels emulators), making it adaptable for many users. It offers two distinct versions of the tools: the Daytradr Trading Platform and the Jigsaw Bridge/Plug-in.
- Daytradr Trading Platform
This robust standalone platform is explicitly crafted for day traders of futures and exchange-traded spreads. It connects to various data feeds and platforms like CQG, Rithmic, GAIN Futures (OEC), Tradovate, Interactive Brokers, and IQFeed.
- Jigsaw Bridge/Plug-in
These award-winning tools integrate effortlessly with your existing trading platform and can connect the Daytradr directly to platforms such as NinjaTrader 7/8, MetaTrader 5, MultiCharts.NET, and MultiCharts.NET SE.
- Daytradr Charts & Jigsaw “LTF” Charts
The platform boasts a comprehensive charting package designed to work with minimal setup, saving you the trouble of juggling multiple apps and potentially escalating your data fees.
- Depth & Sales (Depth of Market)
This indispensable tool illustrates the interaction between passive traders (limit orders) and active traders (market orders). It provides insight into trading activity, highlighting where traders are getting caught, likely locations of stop orders, areas where orders are being canceled or piled up, and the overall market momentum.
- Auction Vista – Order Flow History
Auction Vista offers a detailed view of real-time and historical order flow, underscoring areas of high volume, iceberg orders, and pivotal market turning points.
- Trade Simulator
This feature delivers realistic fills on limit orders and realistic slippage on the market and stops orders, making it ideal for learning new strategies and trading techniques.
- Pace of Tape (PoT) Smart Gauge
This tool assists you in gauging the pace of trading activity in a market relative to recent historical averages, useful in assessing the strength of a pullback, the likelihood of a market breakout, and effectively managing trades.
- Reconstructed Tape
This tool provides order flow event alerts like an iceberg, block trade, large trade, and divergence alerts.
Of course, pricing is an essential part of any algorithmic trading software. Let’s delve into the currently available paid offerings.
At present, Jigsaw Trading offers three distinct paid plans:
Independent ($579) – This basic platform plan includes access to the Daytradr platform, Journalytix, trade calendar, leaderboard, chat room, trade simulator, support, and basic training.
Professional ($879) – This plan incorporates all the above benefits plus advanced order flow training.
Institutional ($1,979) – This plan encompasses all the benefits listed above, plus institutional training and 12 months of group therapy sessions.
If you’re keen on using Jigsaw Trading for live trading, you’ll also need to pay for data, which costs $50 monthly or $500 when paid annually.
- Engaging visual tools
- Abundant educational content
- Daily trader chat room
- High costs for software and subscription
- Exclusively caters to book traders
- Absence of market replay feature
If you’ve decided to base your day trading career on order book trading, then Jigsaw Trading’s efficient platform and resources could be what you need to succeed.
With a focus on teaching proprietary trading strategies, offering simulated trading, providing a wealth of educational resources, and boasting a live chat room for connecting with fellow traders, Jigsaw Trading arguably stands as the top choice for order book trading.
However, its effectiveness hinges on its specific focus on order book trading. Hence, traders interested in other types of trading may not find much value in this platform.
If this resonates with you, it might be worthwhile to explore alternative trading platforms.
But, if you’re eager to master order flow trading using proprietary trading techniques, custom trading tools, and insights gleaned from advanced traders, then Jigsaw Trading is your best bet.