Out Today Market Making Scalping Manual

Discussion in 'Announcements' started by JigsawTrading, Jan 30, 2020.

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  1. ZTrader888

    ZTrader888


    "Videos would be quite pointless for a number of reasons - but the biggest is that people lean on them to bypass the process of getting experience. Mostly though - videos would just show you getting in and out, whereas the book covers the different facets you need to consider - some of which wouldn't even be on the screen.

    Traders are incredibly lazy, most aren't even close to being serious. So we try and put people off as much as possible while still giving those willing to put in the work the things they need. We do the quarterly Q&A sessions (2 so far) to firm up any potential misunderstandings based on feedback."

    I don't understand your rationale about videos. A picture is worth a 1000 words. Seeing is not only believing but also understanding. Words are useless in this business unless the instructor can demonstrate how it's done. I think Mr. Norden is avoiding the obvious: he's afraid he'll be caught in the quagmire of "it doesn't always work".

    You're not "giving those willing to put in the work" what they really need. What they need is to learn from an instructor who's not afraid to demonstrate real time experience.

    The traders that you assign as being "lazy" are probably more frustrated with the lack of proper instruction. Relegating the instruction process to 500 pages in a pdf is not instruction. It's a cover up.
     
    #51     Jun 4, 2020
    Scalping_Padawan likes this.
  2. What type of information wouldn't be on the screen (DOMs, watchlist, quote board) that a trader would use to filter trades? Are there extra technology requirements?

    I can't help but wonder if this is really market making. Tons of quoting up and down the book, pulling, playing the queue?

    How do you handle toxic order flow, or is this not a huge issue because you are trading at slower times or in markets that do not go on too much price discovery?

    LOL I wish you had more of a detailed FAQ on the jigsaw site for this offering.
    Traders need to know what they are getting themselves into, and if it fits their style.
    Why market making over what Axia teaches?
    Axia seems to post examples of their trades, and they also appear to have some large traders.
    Which style has a greater chance of a higher profit?
    What type of volume are people doing with this market maker style?
     
    #52     Jun 4, 2020
    Sekiyo likes this.
  3. I'm going to write my own Market Making Manual. I believe that I have learned enough to share ideas with the world. Mine is going to be around 10,000 words, and I might include images. I will likely only sell it for 99 cents with the Amazon advertising deal thingy. I will talk about my journey from a padawan to fighting my Jedi master Norden as the force awakens within me.
    Peter will make an entrance as Obie-Wan Kenobi.

    upload_2020-6-9_19-15-3.png
     
    #53     Jun 9, 2020
    prorealtimetrader likes this.
  4. Sekiyo

    Sekiyo

    I’d like to make markets but I’d need rebates or even be paid for it. Usual retail commissions don’t allow for this kind of activity.
     
    #54     Jun 9, 2020
  5. Sekiyo

    Sekiyo

    Usually when order flow is toxic (Adverse selection) then the liquidity disappears. No one’s willing to take it because spreads became tighter with all the competition. Since the business isn’t as profitable and monopolistic as before then the liquidity tends to disappear when we need it the most. Most of the time the market makers are just stepping in front the order flow imbalance. You can see it on the ES, when the delta is positive you’ll see more offers than bids.
     
    #55     Jun 9, 2020
    Scalping_Padawan likes this.
  6. This Norden person seems interesting but as others stated $1k for a manual that likely has nothing new in it and will likely say practice and watch the market essentially. A video of live market action would greatly increase interest and decrease the scam factor a tax return or audited brokers statement even better but even with that it just shows that the person selling and marketing somethig for people to buy themselves at least is able to make money..(which i guess is important) this doesnt guaranteed you will be able to pickup what he does or even is a good enough educator

     
    #56     Jun 10, 2020
  7. One issue I have is figuring out who is the guide's intended audience. Is this a guide for price ladder (DOM) newbs. Is it for people who have price ladders skills, but not 'market making skills' and would someone who has put in the time to learn market making on their own be disappointed with the guide?

    The biggest fear is that this is all just stuff that anyone who has worked hard on their own would have discovered.
     
    #57     Jun 10, 2020
    ZTrader888 likes this.
  8. Market makers go for the bid/ask spread by placing limit orders in the book this isnt somethign that is difficult to get like with any strategy the issue will be execution. Thats why im guessing the book is basically a work hard and you will get it type of thing. My issue is that this likely isnt possible with our connections unless your sitting in the book for very long periods of time your queue will likely be last whenever price is near where you want to enter so you are basically always going against what price is currently doing getting out for 1 or 2 ticks while going for 1 or 2 ticks minus commissions seems like a losing strategy. $1k for a manual I've never seen a statement a live trading session or even a video with him analyzing the market I've only seen him bashing technical analysis and saying that only the current price matters. Im very suspicious of people who tout the i used to work on the floor in 2020 the way your trading is different you have no idea who is playing the orders if they are entries or exits. Its like that big money options trader ad that comes up on every trading youtube video i watch. If you watch Jigsaw youtube videos im sure most of that order flow type of stuff is there anyway why pay $1k to hear work hard and you to be a trader?
     
    Last edited: Jun 11, 2020
    #58     Jun 11, 2020
    Scalping_Padawan likes this.
  9. I have always thought that the core of these techniques was shared in the following videos, just not fleshed out: (1) Scalping - The Read Deal (2) Getting Started in Scalping (3) Using Market Correlations in Day Trading. The rest is up for the trader to figure out.

    Learning more evolved ideas around when/how to use the spread hasn't seemed to be shared much, but those conversations are out in the wild (Internet) so perhaps this manual is for lazy traders who haven't taken the time to do any research?

    These replies also seemed to share a bit.

    upload_2020-6-11_9-49-20.png

    For people who have done their homework, I do not understand where the value exists.
    I disagree with you about 1-tick trades. I've done these quite successfully since studying that reddit dudes DMs. Mostly in ZB, NKD, Silver, Soybeans, and sometimes ES when it is quiet early early mornng. I don't like ES.
     
    #59     Jun 11, 2020
    prorealtimetrader likes this.
  10. lol that exchange is literally all there is the rest is up to you to get the instinct. Personalize help would be the edge in learning this but something tells me that for $1k that isnt part of the deal. I was looking at ES mostly since that will be the most likely contract traded by people yes ZB could work i think those offers and bids mostly stay and dont pull like they do in NQ and ES.

    I like jigsaws product though i dont use it anymore because of the 1 product per market data thing bookmap contains more data though i really prefer the jigsaw DOM compared to bookmap but the visual of bookmap is much better. I think software companies really should stay away from pushing educators bookmap and Jigsaw are similar Jigsaw gives trading advise free thats better than most educators so does bookmap they have a free daily live market analysis and education for their customers.
    You really tarnish your company a bit associating with educators. Bookmap has "pro webinars" and none of said pros ever analysis anything live its always replays and screenshots but will mention their training course.

    Listening to the new interview and Gary says that he will never post his trading on youtube and that his training video will be different that the person thats being interviewed and the person interviewed said that you have to put in the work. So basically your getting basic information and its up to you in order to learn it. He is using the excuse that he doesnt want people copying his trading.

    Clearly there are people that will buy it(probably people that are newer to purchasing orderflow stuff) I think people should lookup orderflow and market making strategy's before buying this simply look at jigsaws stuff. Queue position, correlation and momentum that is retail market making the rest is what he will tell you put in the work and save your money.
     
    Last edited: Jun 12, 2020
    #60     Jun 12, 2020
    Scalping_Padawan likes this.
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