Many trading companies rely on technical and fundamental analysis to make decisions. Jigsaw Trading, however, offers a unique perspective.
This platform uses various tools to help you, whether an experienced or retail trader, grasp the essence of using order flow charts for making trades. This Jigsaw review expands on what the platform has to offer.
Jigsaw Trading Review
Peter Davies, in 2011, founded Jigsaw Trading, a privately-held entity aiming to deliver groundbreaking solutions for those delving into day trading stocks and futures markets.
Garnering the trust of over 3,500 global customers, Jigsaw stands tall, rated as the premier software product amidst a vast sea of over 280 trading applications.
Success in stock market trading leans heavily on having excellent brokers— a cornerstone for your distinct trading style.
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Unveiling a Little Secret
This review unravels a subtle secret: markets operate on a cause-and-effect model, with the “cause” triggering a move and the “effect” manifesting in the charts.
Astoundingly, many professional traders divert their focus from the charts, zeroing in on the “cause” to capture the move pre-emptively.
Level 2, or the order book, emerges as a “leading indicator,” revealing activity before a trade materializes, while moving averages and charts are “lagging indicators,” showcasing information post-trade.
Jigsaw Trading’s Unique Solution
No trader aspires to be the one making ill-timed decisions. However, without delving into market order flow, pinpointing the optimal entries and stops can be stressful.
Quick response to trading opportunities is pivotal, and understanding the order book is vital, especially for retail traders.
Here, Jigsaw’s philosophy shines, aiding users in aptly anticipating market “causes” and timing entries. The platform identifies stocks poised to “move” based on volume profile and order flow.
Depth of Market Data
Depth of Market, a window into the number of buyers and sellers for a specific security or currency at varied prices, is a barometer for supply and demand.
Also known as the order book or level 2 data, it displays pending orders, with more orders indicating greater market depth.
Real-time access to this information allows traders to leverage short-term price volatility, using it as a compass to gauge stock price direction.
How Jigsaw Identifies Order Flow Patterns
When it comes to trading, identifying order flow patterns is paramount. You will find that Jigsaw aids in this by offering real-time order flow through its Depth of Market (DOM) tool and an order book heat map.
Additionally, it presents a historical representation of the order book, providing a more comprehensive view of trading activity.
Jigsaw Trading DOM Tool
The clarity of the DOM tool is essential. In this aspect, Jigsaw holds a notable strength. When pitted against its competitor, BookMap, Jigsaw’s DOM exhibits a more visually appealing interface, which is virtually customizable in appearance.
This feature proves beneficial, especially when you are engaged in day trading and staring at the screen for extended periods.
Historical Representation: A Glimpse into the Past Records
Remarkably, most data feeds do not provide historical bid x ask data, and when they do, it often appears unorganized or “unbundled.”
Jigsaw stands out by recording and seamlessly stitching this data together using an algorithm to re-bundle orders into the executed market size.
This capability is unparalleled in the market, equipping you with powerful information for backtesting trading strategies.
Trading Capability
Jigsaw’s DOM is highly customizable and allows the entry of OCOs and custom smart order types, adapting to its operating platform.
While the platform might not present groundbreaking features, it remains an efficient trading platform, serving active and passive traders in making smarter trading decisions.
Educational Support
Jigsaw offers extensive educational materials on its site, including a free Order Flow Foundation video course, arguably one of the best basic training available online.
This course is structured into four modules, covering theory, practical exercises, and benefit-specific lessons such as trade management, reversal trading, scalping, and trade location.
Notably, various Proprietary Trading firms utilize Jigsaw’s educational content to help interns understand Order Flow concepts.
The Community
Peter Davies, the CEO of Jigsaw, highlights the uniqueness of Jigsaw by emphasizing the encouragement of communication among customers.
The platform offers a ‘Jigsaw Chat Room’ where traders, from seasoned to high-frequency traders, discuss market action and share trading strategies.
Additionally, many contribute to the Jigsaw Blog, YouTube pages, and various trading forums, explaining their methods and usage of the products.
Jigsaw actively contributes content and trade recordings to the site and partner sites, fostering a community of learning and sharing.
Is Jigsaw Trading Legit?
A simple internet search reveals that they were voted the “Trading Product of the Year” by the Futures io community in the “True Edge Awards,” representing a commendation from the largest futures trading community in the world, encompassing over 85,000 traders.
Furthermore, they clinched the number one spot in the “Trading Software: Forex/Futures” category at Trader Planet.
The Foundation of Success
Peter Davies, the CEO of Jigsaw, elucidates that it’s not just about having quality trading tools; education is pivotal.
More crucially, traders, whether apex or independent, need the confidence to persevere through the learning curve of a day trading career.
This learning aspect is vital, as having access to fellow traders and resources for day traders helps build confidence and fosters more effective trades.
Pricing Structure
- Peering into the cost, you’ll notice various pricing tiers.
- The Independent package is priced at $579,
- Professional at $879,
- Market Maker at $1,499,
- Institutional at $1,799.
A subscription fee of $50 a month or $500 annually is also applicable. This tiered structure accommodates everyone from the ATC trader to institutional traders, offering a balance of trade options.
Is it the Right Choice?
With accolades and a suite of tools and resources, you might wonder why one would consider other trade platforms. Jigsaw offers a comprehensive free training course, modern trading tools, and a vibrant community, making it an attractive option for those with book trading experience.
For an experienced order book trader, the basic subscription could be a worthwhile investment. However, for those new to order book trading seeking advanced tools, starting with the basic package and scaling up with experience might be a more prudent approach, especially considering proprietary trading strategies.
Final Thoughts: Is Jigsaw The Best Day Trading Platform For Beginners
With its visual tools and educational resources, Jigsaw Trading stands as a robust trading platform catering to beginners and advanced traders. The platform integrates advanced order flow training, offering a glimpse into institutional training and realistic slippage.
Whether you’re exploring flow trading, book order trading, or simulated trading, Jigsaw’s trading software adapts to your unique trading method, making it a preferred choice for professional traders seeking a comprehensive market approach.
The platform, while basic, is adaptable and provides a foundation for developing proprietary trading techniques and efficient exit strategies in the futures markets.
Remember that assessing subscription fees and evaluating the wide range of offerings is essential in aligning with your trading strategy and making the most of the available trading opportunities. Click here to use our Jigsaw Trading Coupon for a discount.
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