My Problem with No Fill Trades – Update

Last week I discussed my problems with getting no fills at levels and triggers. The article is here.

A summary is that tried splitting my trigger entries in to market orders and limit orders. The results were not satisfactory, the market orders filled me at a worse price and the limit orders still tended not to get filled. Overall I got filled more often but my risk increased and reward decreased.

I do not blindly take triggers off the LTF charts but use the DOM order flow as confirmation / timing tool to get in.

I only traded half days on Thursday and Friday, this gave me some time to mull over the problem. It could be that the problem is a matter of timing, whilst I am reading the order flow on the DOM, that I react too slowly to the new information that I am seeing.

On Wednesday, FT71 gave a webinar on reading order flow and stalking trades, which is relevant to my current problem.

In this video, FT71 is using the S5 Bookmap software, I have already trialled this software once a while ago, and my first thoughts was that it is already providing me with the same information as Jigsaw Trading DOM, so I could not see how purchasing this would pay for itself. Which is my main criteria in purchasing any services for my trading. It has to pay for itself and provide a profit.

Also I read this review by traderunner, another member of the Stage 5 Trading community, who is a professional trader.

I know that I am a visual learner, I have done various tests that confirm this. Also I know from my yacht racing, that when I am watching for headers and lifts on the compass that it takes a second or so for the new information to sink in. That I am a visual learner is one of the reasons that my end of day review is chart based.

There is a plenty of free Visual, Auditory and Kinesthetic Tests, to find what style could be beneficial to you.

As Stage 5 Trading are offering a 14-day trial, my thoughts are that maybe, seeing the order flow visually might enable me to react slightly quicker and enable my limit orders to further ahead in the queue. As I have noticed that a lot of the times is not that it does not trade my price, just that I am too far back in the queue to get filled.

For the next 2 weeks starting the 16th November, I will be trialling the Bookmap software, I will still be looking for the same things as I was on the Jigsaw DOM, just seeing if using this software reduces the number of no fills. If it can then it will be make me more profitable thus pay for itself.

I will update on my progress in the next weekly review and at the end of the trial.

Any suggestions or feedback is always welcome.

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