The Best Trading Platforms for Reading the Order Flow

The Best Trading Platforms
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There are a lot of trading platforms for Futures, Stocks, Options and Forex; yet I dedicate this article to the best trading platforms for reading the order flow in 2018.

First of all, what is order flow? Order Flow trading has a lot of meanings for traders all over the world, but for me the order flow is the right way for viewing as well as reading the markets, and finding out the flow of smart money.

According to Andrei Kirilenko, the order flow trading is used by the Aggressive High Frequency Traders who control the E-mini S&P 500 future market.

To fully understand who this aggressive HFTs are, you need to read my previous articles (click here).

Note that I am not going to mention the big trading platforms like X-trader or Thinkorswim, simply because they don’t focus on order flow tools like the depth of market from Jigsaw Trading or Atas.

According to my expertise in trading the order flow in future and stock markets, the best trading platforms are:

  • Jigsaw trading
  • ATAS Order Flow Trading
  • Book Map

Let’s identify the pros and cons for each order flow trading platforms:

Trading Platforms: 1. Jigsaw Trading

The Best Trading Platforms Jigsaw Trading
Jigsaw Trading

I have been using Jigsaw trading for 5 years, and I believe it is a good trading platform.

Pros:

  • Educational courses about how to use it, and some strategies about how to trade. However, you need to adjust it depending on your style of trading.
  • A better view of order flow compared to the standard Depth of Market in many trading platforms like NinjaTrader, X-Trader, Firetip, OEC, etc.
  • Auction Vista (another view of the market in chart with level II and all the markets’ orders).
  • A very good technical support.
  • Iceberg alert.
  • Reconstructed tape.
  • 14 days money back.
  • Many features that can help you trade better.

Cons:

  • The price starts from $579 (life time). It is expensive compared to other tools.
  • You have to pay another $500 per year or $50 per month for trading live.
  • No automated algorithm for reading the order flow knowing that the markets are full of High Frequency Traders.

Trading Platforms: 2. ATAS Order Flow Trading

The Best Trading Platforms ATAS Order Flow Trading
ATAS Order Flow Trading

Pros:

  • A very smart DOM with many parameters to adjust.
  • A very good chart with a lot of features ( I like it so much).
  • One of the best footprint I have ever seen.
  • Spread tape.
  • 14 days money back.
  • No additional money for trading live.

Cons:

  • Almost $2000 for a life time license.
  • No automated algorithm for reading the order flow.
  • No educational courses.

Trading Platforms: 3. Bookmap

The Best Trading Platforms Bookmap
Bookmap

Pros:

  • Iceberg tracker.
  • Full market depth heatmap.
  • Advanced education.
  • A Fair price.
  • Recording and replaying data.
  • You can create your own automated strategy.

Cons:

  • No standard depth of market( like Jigsaw Trading and Atas).

 

We conclude that all these three trading platforms are great but they all have some negative points I wish they will change soon.

The best trading platforms, for the order flow, is the one that can gather many trading styles.

The trading platform that I daily use is Jigsaw Trading because it matches my trading style.

Let us know in the comment section which trading platforms you think are the best for order flow trading.

 

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