After around 7 years of chasing after various indicators, systems, reading tens of books from all those “great” authors (that claim to be advisors to hedge funds and banks – I can now see why many banks are on the brink of bankruptcy), spending 100s on various training materials and losing 1000s in the market, I got to the point of calling it quits with trading and thought of continuing with 9 to 5 until I am 70 years old and live off a pension.
Then one day I remembered “the tape”, something that I’ve been very interested in for years, but never could understand. So at the end of 2014, I decided to give my last go to trading and this time to only concentrate on the tape, nothing but. The idea behind it made a perfect sense, but I just didn’t get it. That is until I watched a webinar of a guy who recommended Jigsaw as one of the best tools for reading the order flow.
Now, years of being tricked into buying books, learning new indicators, platforms, markets, taught me a thing or two about the vast majority of vendors in the field of trading – taking money off you is their priority number one.
So, naturally I was very skeptical about Jigsaw tools, hence I started watching what Peter had put on his website as a free set of videos, extracts from his webinars, etc. One thing I noticed throughout all his videos and something that gave a lot of credibility to what he did is the fact that his videos are never a brief idea of a trading system with a conclusion along the lines of “if you buy my software / my trading course / my astrology projection, you will be able to see what this is all about”. He just never does that, he doesn’t push you into buying the tools, he doesn’t say this is what you need to get rich, he simply explains how the market works and what drives it and how you need to approach it. Then it’s your decision to buy the software or to go looking for a magic bullet indicator instead.
I will not lie to you that I grasped the concept straight after buying to software. It took me a while and took (and still takes) A LOT of effort on my part as it is a constant learning process, but in his videos Peter helps you to put structure in your learning, and that is key. So I immediately tried following what he taught and…still couldn’t figure it out… until after about a week of screen-time, while watching Bund I noticed how one very large pending order resulted in a price reversal. That was the “aha!” moment I thought wow, not a single person watching charts will be able to see this huge order sitting there and understand why the price reversed. At that moment I realised that given sufficient time and effort the order flow can be learnt and once mastered will immediately put me ahead of most of traders using conventional trading methods. And more importantly, not many tools offer such visibility of the ladder and such level of customization to suit your needs.
One thing that is very important to understand for those looking into buying any tools related to the order flow – be prepared to put time into learning it and don’t expect some kind of a signal-based rubbish. Compared to other software I have seen, Jigsaw Tools do a much better job at helping you to understand why the market moves in one direction or the other, how liquidity affects the extent of moves, how market can be manipulated. But do not expect (as one reviewer expected) to get an indicator that tells you when to buy or to sell – JT does not create signals, it shows what is happening in the market and it’s up to your interpretation (and quite frankly I would recommend you to avoid any signal-based stuff at any cost anyway) and subsequent action or inaction.
Peter does a hell of a lot to help people to understand the market and really you won’t be able to find even a mediocre trading course for the money he charges you for the software, besides the hours of videos he is giving out for free to get you started. But even though he puts tons of information out there, it is you who will have to do the legwork and learn how to interpret the market. It will take time – slightly longer for some, slightly shorter for the others - but the ultimate result is well worth it when it “clicks”, as it did for me when I realised I wasted 7 years trying to find a holy grail, while it has always been there and no other tool except for Jigsaw Tools helped me realise that!
This review is the subjective opinion of an ourinterestingworld member and not of ourinterestingworld LLC
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