 OK, risk disclaimer, trading futures involve substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. So Jean-Marc is, well, I'm sorry. Let me go through a few more things here. If you guys want to give Bookmap a try, this is where you can find it. It's going to be under the Pricing tab at bookmap.com. Our special is over. So we had a lot of requests about the special. So I just wanted to let you guys know that it ended at midnight last night. Now, this is recorded, and I'll show you where that is. You can find it here under the Portal, under this Education tab, and then Bookmap, Recorded Webinars. You can click here for the playlist, and that will take you to the YouTube page. And you can find it here, as well, with all of this month's ProTrader webinar traders that we have here, as you can see. I also want to point out, Jean-Marc's YouTube channel here, I'm going to put this into the chat for you. So you guys have it, and I will do it later, as well, and his Twitter feed here. But you might want to check out his YouTube channel. There are hundreds of videos here. Like I said, Jean-Marc was an early adopter of Bookmap. These videos go back to 2014. Very active on his YouTube channel. He is primarily a scalper. So let me get into the introduction here. Jean-Marc, he's a prop trader. Primarily trading his own money, he's self-taught with a scientific background, just a lover of the sciences and math, statistics, and probabilities, and has been trading since 1999. So a lot of experience. He specializes now in the market micro structure and order flow analysis. So he's a scalper, and like I said, Bookmap early adopter. And you'll see most of his positions rarely last more than a few minutes. So Jean-Marc, he speaks English, but he has a student, Coray, on the line here, who will translate to him as well. So Jean-Marc is going to go through his process and then we'll have Coray get on and explain anything that might need a little bit further explanation. All right, guys. So Jean-Marc, thanks for coming and welcome. Let me turn it over to you. Thank you. Hello, everybody. So I don't speak English. I share my screen. Do you see my screen? Yes. Yes? Yes. Do you hear me correctly? You sound great. OK. So I'm French. I'm going to speak French, but hello to everybody. I have a friend who's going to translate what I say as much as I need it. So my name is Jean-Marc Souliu. And I'm an order book trader, scalper. I'm a retail trader since 15 years with my own money. And I have a YouTube channel, Bromson Shop Trading. Like I say on the PowerPoint here, I'm a scalper. And swing and tradeale a little bit. At the end of the day, I'm flat, no overnight and no overweek. I trade on Erex, FDACs, Bund, or stocks on CME, Imini SP500, 500, 6E, 6B, on NYMEX crude oil, and on Sibot, T-notes, 10 years not. My tools are the order book, the time I sell, and market profile, volume profile, footprint, and book map. I will explain why a little bit the market internals, like NYCTX, ECX, Advanced Decline. And that's it. So let's go. Today, we're going to focus on my trading method, the trading method I use. But obviously, the trading must be aware that it's not just a trading method. What makes a trader efficient, profitable, and regular is a balance between four essential compartments, money management, risk management, psychology, and finally, the trading method. If you want Coray... Yeah, so basically, I think everybody kind of understood, but there are four pillars that makes a trader efficient and profitable on a regular basis. And so today, we'll focus more on the method. But obviously, the money management, risk management, psychology are the other three pillars that you have to master. But anyway, that's not the focus today. So Jean-Marc will dive more into the method. OK. So as I said at the beginning, I'm a trader at the order book. I'm an order book trader. The question is, what is an order book trader? What is a trader at the end of the day? What is a trader at the end of the day at the end of the day? Simply put, a trader at the end of the day is above all an expert in reading and the understanding of price action. In my opinion, an order book trader is an expert in the reading and understanding of price action. It's above all the first thing. You see, on the screen, I tried to represent a little bit what the prices are. In real time, in an order book, the prices in an order book... I think you all know the principle of an order book. The prices in an order book go up, go down, go up, go down. A little bit like the arrows. The price is here, it goes up, it goes down, it goes up, it stays a little bit like that, it goes up, it goes down again. So we are experts in the reading of price action. It's the first important thing to know. Coral, do you think we should translate? I don't know, but price action, I think everybody understands. Jean-Marc was just explaining the first thing to kind of master it or expertise is looking basically at the price action. So you see in your dumber price ladder that the prices go up and go down. And that's this reading that Jean-Marc is mentioning as the most important thing in reading the price action. Yes, it's the most important thing. And for the type reading, it's the same thing. We must be experts in the reading of price action. It's really the first really important thing. Ensuite, le price action, donc. En fin de compte, qu'est-ce que c'est? What is the price action? En fin de compte, l'action des prix, de quoi ça découle? De quoi vient l'action des prix? L'action des prix nous apprend beaucoup sur le context marché. The market context. L'action des prix nous montre si on est en train d'en range, si nous sommes dans un marché dirigé uniquement par un flow acheteur ou vendeur, un flow driven market, un boom market ou un bear market. Bref, le context marché dans lequel on se trouve à tout instant et qui est défini par le rapport entre les acheteurs et les vendeurs et leur jugement de l'ajuste valeur du prix, c'est ça l'action des prix. C'est ça le price action. Les vendeurs et les acheteurs doivent prendre une décision sur ce qui pense être la meilleure valeur du prix et on a des phases de range, des phases de trend, des phases de marché très directionnel qui l'une après l'autre. Et notre travail, c'est d'identifier et de comprendre ce context marché en lisant le price action avec le carnèdre et le tape. Koray, si tu veux. Yeah, I'll try to summarize. So basically the price action shows and is part of the market context which is, I mean it's something that's constantly changing but we have to understand and see what the sellers and buyers, how they interact, are we in a context of a ranging market, imbalance market or imbalance market like a driving market, flow driven market, et cetera. So as a trader, we must identify in which kind of context we are. Okay. It's, it's our premier travail, premier travail d'un trader qui trade au carnèdre et au tape. Ensuite, pour nous aider dans cette lecture du price action et dans cette compréhension du price action, on va pouvoir utiliser ce que l'on appelle l'order flow. On doit connaître les mécanismes du principe des enchères, the auction market theory. On doit comprendre cette interaction entre les acheteurs et les vendeurs. On doit absolument savoir décrypter qui agresse qui, qui est plutôt passif les acheteurs ou plutôt les vendeurs et qui devient plus agressif plutôt les acheteurs ou plutôt les vendeurs. Donc l'order flow va nous aider dans cette lecture du price action. On va coupler à la lecture du price action la lecture de l'order flow. Okay. It's in yellow here. Order flow reading. Donc pour dire que la lecture du price action faut la coupler à la lecture de l'order flow. Tu pourrais... So basically we have to... It's a kind of the different parts of a puzzle that we have to put together and the order flow reading, the auction market theory, the auction and the interaction between buyers and sellers. This part is the order flow. Basically it's also part of the understanding of the market context on top of the order book and the previous pages we have seen until now. Et donc c'est pour ça que Bookmap va être un avantage vraiment concurrentiel. Bookmap is your edge. C'est un avantage concurrentiel sur les autres traders parce que sur un seul et unique outil on a le price action sur la map. On a les ordres limites versus les ordres marchés, limit order versus market orders. Nous avons les ordres limites ajoutés et annulés. Nous avons le delta, nous avons le volume profile, le cumulatif delta. Nous pourrons voir aussi les big players with the large load tracker. We can see big players, HFT Algo, Execution Algo. So Bookmap it's an all-in-one. And it's what Bookmap is your really, really, really is your edge. C'est bon Coral tu penses? Yeah, I don't think I have anything to add. So avec Bookmap on a vraiment tout ce dont on a besoin pour faire ce que j'ai expliqué au début du webinaire, lire le price action et confronter, mettre en relation ce price action à l'ordre faux. Nous avons tout sur le même outil. C'est pour ça que Bookmap est vraiment un outil essentiel pour moi je pense. Également je trade directement dans Bookmap avec le one click trading et je connais le carnet d'ordre de Titi, X-Trader. Je pense que vous savez que c'est un des meilleurs carnet d'ordre au monde et je trouve que l'exécution dans Bookmap vaut largement l'exécution dans le carnet de Titi-Trader, il n'y a aucun soucis. L'exécution est au top pour le scalping et même pour l'intrader. Donc voilà, on a un outil tout en un. OK, so maybe I can just add on the execution. Jean-Marc was mentioning he was used to use X-Trader which is a well-known trading platform. On the execution side is very satisfied with the execution. It's at least as well-performing in Bookmap trading in Bookmap than trading in X-Trader. OK, alors je n'utilise pas que le carnet d'ordre et le type. Donc Bookmap, j'utilise aussi d'autres outils pour toujours la même chose pour m'aider à lire l'action des prix et m'aider à lire et à comprendre le context et la structure du marché. Alors quelles sont ces outils que je rajoute à Bookmap? Jean-Marc will show the other tools because obviously for the context for the price action he has other tools and so that's what he's going to show now. Voilà. Donc en plus de Bookmap, j'utilise le market profile, le volume profile et le footprint. Et comme vous voyez à droite, j'utilise aussi quelques autres outils comme les volumes bars, les volumes classiques, le VWAP, le cumulative delta, le delta, les nicetyques, quelques market internals, mais surtout, surtout, surtout le market profile, le volume profile et le footprint. Pourquoi j'utilise ces outils? Pour moi, on va commencer par le market profile. Le market profile c'est une représentation graphique des prix par rapport au temps. Le nom en anglais du market profile c'est TPO Time Price Opportunity. Donc c'est un rapport du price action, c'est le price action par rapport au temps. Plus les prix vont passer du temps dans une zone, plus le profil va imprimer de l'être. Donc cette représentation graphique de l'action des prix, pour moi, c'est la meilleure pour se faire une idée du context et de la structure du marché en inclin d'œil, comme je le disais tout à l'heure, pour voir si nous sommes en train d'en range ou en flow d'arrivée de market. Par exemple, sur cette diapositive, sur la droite, nous avons l'imini SP500 et tout de suite, on peut voir que nous sommes dans un marché dirigé par les acheteurs, un marché bullish. En inclin d'œil, on voit tout de suite que c'est extrêmement bullish. Pourquoi? Je vais prendre un stylo parce que les profils que vous voyez ici avec ces très roses ici, voyez ce très rose ici qui s'appelle le Poc, les très roses ce sont les Pocs, et les Pocs ce sont les endroits où le prix a passé le plus de temps dans la journée. Ça, tu peux peut-être le traduire, Coral? Just to make a quick summary of the market profile, I won't get deep dive into the details, but you know about the time price opportunity with presentation and basically one letter is added every 30 minutes we spent on a price level. So the point of control that Jean-Marc is showing is basically the most time spent on a price and it gives and it's a help basically to understand what the overall stance of the market is in a certain time frame. What he's just showing is that basically the point of control are higher and higher and this clearly indicates obviously a bullish market. Voilà, on peut voir aussi la forme des profils on voit bien sur quasiment tous les profils qu'il y a eu beaucoup de travail en bas et que d'un seul coup on allonge et on clôture souvent tout en haut. On travaille en bas, d'un seul coup on allonge et on clôture tout en haut. On travaille en bas, d'un seul coup on allonge et on clôture tout en haut. Voilà, en un clin d'oeil je vois grâce au market profile si je suis dans un marché haussier, baissier ou en range. Ça va également m'informer sur, alors je vais y revenir après mais nous allons pouvoir voir si le flow institutionnel, si le flow des gros acteurs se déversent sur le marché on va pouvoir également reconnaître des patterns de continuation on va pouvoir aussi se servir du market profile pour trouver des endroits, des zones et des niveaux et des seuils clés où on va pouvoir entrer en position si le carnet d'ordre et le tape et book map nous disent ok on peut entrer. Avec le market profile on va également pouvoir repérer des zones où se trouvent les stops et avec le market profile enfin on va également avoir plusieurs setups d'open au moment de l'ouverture de la session cache il y a différents types d'open market profile qui sont autant de setup de trading qui vont pouvoir nous permettre de savoir dans quel sens et quelle stratégie appliquer des ouvertures. Je te laisse résumer. Ok, let me give you a try. So we left it at the different profiles and Jean-Marc was adding the shape of the profile show as well they are accumulating and spending a lot of time in the lower part and then extending the range of the prices to the upside mostly closing at the tops and the day after in the course of the week or one day after the other this repeats and this shows as well the trend or the path we are following on a midterm. On top so it helps as well obviously to identify the continuation patterns or identify where the institutional flow is driving the market with the big volumes and big interventions those are the interventions that are driving the market out of its current balance or after an accumulation phase. Jean-Marc uses as well the market profile to identify trade locations basically locations where I mean price level where you can enter a position like single print areas point of control, value areas on a daily, weekly or monthly time frame or others but those trade locations are just obviously locations and that's where book map will help to monitor when we arrive on this area of our location if it's worth to give a change to the trade or not according to what he sees in the book map. Market profile helps as well to identify the stop zones the areas where the stops are accumulating and when we will go there we will probably see a short squeeze and obviously as well it helps on a daytime frame to monitor and identify the kind of open we have and there are different open setups in order to take trades more on a short time frame or daytime frame. There's a question on the brown rectangles there on that chart There's a question on the brown rectangles The brown rectangles are the Boeing in-Tales the Achia or Vente as it's a trend also it's the Achia and the Single Print which are left behind us. These are the places where the prices have passed very quickly by only making one single print impression. And often, when we come back to these areas, these are areas that react very well to scalping. I'll let you translate. The time-price opportunity print left on the profile. I think for the market profile addicts, it's a kind of day-to-day business. So this market shows that we have left single prints on the lows, which will react and which are very good trade locations for scalping in particular. On the top, of course, this will be more areas left as selling tiles. So this will be more areas to fade if the market goes up there. Yes. D'ailleurs, c'était avant-hier, on voit très bien un très bel exemple. On n'avons pas touché la single print, mais on s'est arrêté juste en dessous. Vous voyez, cette single print laissait derrière nous le 21 mars 2017, ici. D'accord? Nous sommes venus, on s'est arrêté juste en dessous, pour ensuite repartir au sud. Donc on n'a pas touché la single print, mais par contre, on s'est arrêté juste en dessous, ça pouvait donner un signal de vente avec, évidemment, en confirmation avec le reste de nos outils, c'est-à-dire en confirmation avec le carné d'ordre, le tape et book map. Je voulais rajouter aussi autre chose, Corail, c'est qu'on utilise beaucoup la convergence, la confluence de niveaux que t'en as parlé du Market Profile Daily, weekly et monthly. Et c'est bien d'utiliser aussi la convergence de niveaux entre ces différentes timeframe pour avoir des zones, des points durs. Yeah, so just to add on the different, what's important, and Jean-Marc wants to focus on this, is the confluence of areas which come from a different timeframe analyzes, like value areas from daytime frame, but if we have as well at the same place, a weekly point of control or a monthly single print, whatever, the more layers we add and the more confluence of levels we have, obviously the most reliable the point or the area will be. C'est ça. Mais attention, bien sûr, c'est book map qui vous donne le top départ. On appuie sur la gâchette seulement si book map dit ok c'est bon le niveau tient on peut y aller. And once you've spotted the area, obviously this is not a go, the real signal to pull the trigger will be what you see in book map and once the prices arrive there you will observe what you see in book map and that will make the decision. Ensuite, le volume profile, pareil, the same thing, the market structure, non, one thing, j'ai parlé du market context mais il y a aussi le market structure. Le market profile nous renseigne sur la structure du marché, je m'explique. On utilise le market profile en temps réel de cette façon comme vous le voyez sur la diapositive ici, c'est-à-dire en draw developing en temps réel lorsque l'on traite, lorsque nous nous sommes en train de traiter on utilise le market profile comme ceci, l'exact, en draw developing. Pourquoi? C'est très important parce que de cette façon on va bien identifier les endroits, on va beaucoup mieux identifier les endroits où le marché va vite, avec la the fast money le marché passe très vite en imprimant ici, vous voyez par exemple je vais prendre ma petite loupe en imprimant qu'une seule impression on sait que là le marché a été très vite et lorsqu'il retrace ici, nous avons une petite queue d'achat une boiling tails, il continue à monter très vite avec le hash print, très vite, fast, fast, fast et pull back, et sur le pull back on a également ici une queue on appelle ça des que cachés, ce sont des hidden tails et ça, ça nous confirme que le flow est puissant qu'il y a une conviction dans la direction qui est prise, très importante et que les gros players sont en train de rentrer je te laisse traduire Ok, so the market profile you see on the left is an example where the market profile is just compressed, it's a standard way to show it but on a daytime frame and real time Jean-Marc uses the market profile in this mode which is the draw developing mode which means that each half an hour will be put at the end of the other which allow to see all those areas and all those for example buying or selling tails in this case buying tails that we see here which are additional hints showing the market is pushing and big players are coming in and each time the prices go lower there are massive players getting in, stepping in and buying the market and pushing it like drawn here with leaving a single print which will then be not further accepted when the market goes down and there is another buying tails, I mean those are all signals that shows and that basically give you hints about the market context and the market structure Ok, thank you Next, we will go to the volume profile always in this lecture of the price action action action we also have the volume profile The volume profile is a representation of the prices in terms of volume and not in terms of time spent on a zone It's a representation of the price in relation to the volume process not the time So you see on the right chart that we have big volume peaks that we call the HVN, high volume nodes and volume peaks like here or here or here that we call the low volume nodes, HVN These points, these zones will be very important zones for the scalper also So we will use these zones to locate the input in position but also to locate, for example, a output in position because the peaks, the HVN, tend to attract the prices So if we are... imagine that I'm shorting at this point we enter a hollow like that in general, the prices often in the hollows, in the low volume nodes don't spend a lot of time, they go very fast but in general, they are attracted by the peaks So it can serve us as a volume profile not only to have input zones but also targets In addition, the shape of the volume profile is also very important in the input, I will talk about it later and I'll let you talk about what I just said Okay, so another tool is the volume profile so the representation of the volumes made or traded at each price and it's important as you will notice the high and low volume nodes So the high volume nodes are mostly areas acting as a magnet I mean, when the prices don't really know where to go they usually end up there and the low volume nodes are rejection areas where the prices will not spend too much time Okay The shape of the volume profile is also very important when we have a volume profile in the input for example, which shows the succession of balance, imbalance, imbalance, imbalance, imbalance In the input, it also informs us of an extremely directional price action So the shape of the profile gives us as well hints about what the market is doing especially on a day-in-time frame where when you build successive peak volumes and low volume areas it shows that, for example, the market is driving Yeah, I think that was the... what's your market trying to explain? And the last thing, I'll talk about it later we also use the volume profile to help us to see the iceberg orders as well I'll talk about it later And the volume profile shows us as well where the icebergs have been operating more on a day-in-time frame and Jean-Marc will come back to this later on Okay We'll continue Here, for example, in Bookmap a structure of volume profiles So you have the volume profile on the right here Here is the structure of Bookmap showing the volume profile on the right Here, wait So you have here the volume profile in Bookmap You see that it's an extremely austere day Okay And you see that the volume profile has a very particular shape We have this succession of balances A balance, a balance, a balance, a balance, a balance And this is a form of a typical volume profile that we want to see in the very direct market phases So the volume profile also shows us the structure of the market the structure of the price action This is an example of obviously a really driving market, trending market but with fast trending market, let's say And the shape of the volume profile clearly shows that the succession of balanced phases and imbalances and then basically sideways market and then give it a push and another area of accumulation break out next area of accumulation So this kind of profile clearly shows us the kind of market you are in or you are looking at Okay We can also see the periods and the accumulation zones like here, this one, that we see here Okay It also teaches us about the exhaustions and the rejection For example, up here, we have a rejection Okay We see in the volume profile here that we have 28 contracts that have been bought So there is an exhaustion of the buyers And following this exhaustion, we have a rejection and the prices go south Down here, it's more of an accumulation Okay We see the accumulation here on the volume profile that is done So there is a passive accumulation So there are obviously buyers up and buyers down And when we get out of this accumulation zone we know which actor becomes more aggressive Okay And we can put in new set-up of directional input for example on a retest like this one Okay When we see that we get out of this balance and that one of the two actors has become more aggressive than the other following this passive accumulation Okay So this day shows different things On the top, for example, you have a rejection first an exhaustion because you only have 28 contracts traded on the offer at the last row showing clearly that there are no more buyers basically at this level And following that exhaustion, you have a rejection so the market goes lower On the lower part, we clearly see a phase of accumulation with buyers on the low and sellers on the top, of course And at the resolution of this accumulation there are a lot of set-ups that you can put in place to, for example, buy the market once the area is broken and after a pullback you can get long and this is a good probability trade, that's it You can tell them that I just realized that I've written on the screen since earlier with a software, but I don't think they see it when I write No, they see it, I see it You see the red lines? That's good I was afraid Okay Next, we will move on to the next Another tool that I use very important is the footprint Obviously If we practice the reading of the order flow obviously we will use the footprint In addition Small details Personally I use the footprint by looking at the dominant side reading I will show you I read in diagonals Here, for example We have 239 contracts that have hit the bid In the bid, we have 239 contracts that have hit the bid and above in diagonals we have 518 contracts that have lifted the bid What I look at is the relationship between this diagonal reading For example, on the Limini SP500 if I have 5 times more buyers here than on the seller I'm talking about a buyer balance We have some examples of a seller balance here There is one here, one here and one here Here we have 1036 sales on the market and above we have 141 purchases on the market So we have almost 8 to 9 times more sales on the market than purchases on the market Here we have a seller balance The sellers are more aggressive This is the way I read the footprint I let you translate The footprint is the next tool as an order flow trader You have to obviously have a look inside what is going on in the market Jean-Marc uses the footprint with diagonal reading which means the interpretation you make from the figures are made on the diagonal If you can decide again So basically, you just For example, we have the bid here The ask here Here the buyers on the market Here the sellers on the market If the sellers on the market are more aggressive If the volumes are 5 times more important than the purchase volumes on the market The volumes will be printed in red and vice versa for the buyers This is called the volume imbalance So Jean-Marc uses the volume imbalances which is basically this comparison in diagonal which is a comparison of the number of trades hitting the bid and lifting the offer And here at the top where he has drawn the small rectangles you can clearly notice that sellers are more aggressive I think there is a kind of nine ratio nine times ratio between the bid trades and the ask trades showing clearly that the sellers are, let's say taking control of the market at this level So Jean-Marc uses 500% here in this example on the E-mini S&P But we have to adapt this arrangement following the actives, it depends on the actives This has to be set differently according to the instrument you trade So that will teach us to see the aggression the conviction from buyers or the sellers It will help us to find entry points to confirm entry points to the buyer or to the seller This is what I have noted below trade location and confirmation This is for the footprint Of course All these tools are used together at the same time in real time The ideal is to have the perfect signal It is to arrive, for example on a pre-identified level thanks to the market profile and the opening profile And in Bookmap we have a pattern, order flow a signal of entry in position And also on the footprint we are at the same time a signal of entry in position All those tools obviously have to be used simultaneously at the same time and obviously as well The perfect setup is the setup where you have a level identified you know where the market is doing you have a level, you will have an imbalance and at the end of the day you have a pattern in your Bookmap an order flow pattern in your Bookmap and that would be the perfect setup to step in the market Ok Obviously there are lots and lots of pattern order flow that we can see in Bookmap I will not talk about it today because it would be too long but I can show you the list of pattern order flow that I am surveying in Bookmap Where did I put it? There is a flurry of different order flow patterns Chalmark will just show us give us a quick view of the different examples I will show you the list of pattern order flow that I am surveying for example This is my present training that I do in Paris on two days talking about Bookmap Here is the list of pattern order flow that I am surveying that I am always waiting for in Bookmap Absorption, Reaud Rejection, Exhaustion Iceberging, Spoofing, Layering Flipping, Momentum Munition and the Market Context Thread Market, Floater Market or a Market to Side Market to Side Market in range These are the main pattern order flow that must be recognized in Incarnator and in Tape and therefore in Bookmap In Bookmap it is much easier This is also the advantage of Bookmap It is much easier in Bookmap and it requires less concentration effort We are less tired at the end of the day These are pattern order flow Of course I cannot go into the details of all these patterns but notice that there are many patterns to be recognized and these are the main ones I think it is self-explanatory I won't dive into the details Those are the main order flow patterns to know and to be able to recognize if you are pretending to be an order book and order flow trader and he can dive here into each of the examples but I think he will show us one Ok For example we will go back to this one we will go back to this one Here we clearly have an accumulation we have an absorption of the market I will show you with my little loop it works the loop you see you see my loop you see here at the bottom you see that the sellers have aggressed the market have aggressed the limit order but they were absorbed Here we have a pattern order flow absorption and rejection ok and each time we go back to the bottom in the same area we have a small storage here where we have an absorption of the sellers and as I explained earlier once this absorption which is passive once this absorption this accumulation of positions is finished usually there are big banks big market actors once they have accumulated their positions we can see then an aggression and this is what I call the momentum initiation a very aggressive movement is initiated and here we have a set up for example on this little retest pattern order flow absorption then we have an aggression and a momentum initiation here where we can see very well in book map a green dot that aggresses lifts the mask and here we have a set up in a long position for example it's an example a small example like that so in this example you see clearly each time the sellers are basically hitting the bid they are getting absorbed and once and twice and three times so it's a kind of huge absorption or absorption phase and once the actors that are absorbing all those sellers have been basically are happy with the size they have been accumulating they start to be more aggressive and that's then a set up to step in in the long for example in this small in this small help me pull back that you have that you can see around here okay it's very important to be able to see this aggression because you shouldn't forget that a market doesn't only go up thanks to the buyers or a market doesn't only go down thanks to the seller but a market also goes up there is an execution of the market by the buyers but there are also the sellers who liquidate the more the market goes up and the more the sellers go out of position because they are in a delicate position so it's very important to see that in real time in book map thanks to the volume dots that you see the big volume dots green and red that are in fact that correspond to the tape the Taming Cell it's important to identify those that show of course the buyers but as well the sellers exiting their positions okay perfect so then so that was the footprint okay we saw so we will see an example in a video of a trade that I made earlier you can tell them so Marc will show us something he has seen earlier today a trade that I spent one trade that he made yesterday but before looking at that I wanted to tell you that when you have found a coherent method and that suits you with effective tools like book map then you will have to create your own setup and that you specialize in certain setup after the after the method of work how do we say that after the method, the tools the next step it's the creation of your own setups your specializations in some favorite setup I can show you some of my setup for example to show you some examples always in my so wait wait a minute just a minute it's important to to do to do your own research work to do your own setup it it allows you to have a working framework for example I have several setups I have open setup open market profile there are different types open market profile open drive open test drive open auction open in-round open outside the round you can also have setup purely in the working framework like I have several I will show you the names but to show you it's important to give names to these setups then you create your own setup I have between 15 and 20 there are 13 you see there are the first day of the first day of the next day OPEX aspiration day straight setup in short market the close inside the break it's important to create your own setup as soon as you have a working method that suits you with tools like bookmap or market profile then you have to create your own setup I leave you Thank you Once you have your tools and you have your method and everything is set as far as this the next step is to basically create your own setups and specialize in some favorite setups that you will apply Jean-Marc showed a quick list of his own setups 18 or 18 different setups the one based on the opens from the market profile opens inside range, outside range drive rejection open rejection or open test drive etc so you have to specialize make your own research and build your own setups and you will be then later on a specialist and try them then on a daily basis Ok, thank you Conrail So now we are going to look at a concrete example of a trade that I took yesterday on Limini SP500 So as I said at the beginning I trade on the Rex in the morning and on the afternoon I trade Limini SP500 Today I could not trade because of Webinar but yesterday I traded and I took a trade and I filmed it for you to be able to show it to you during Webinar so we are going to look at that and it is a setup called stop running I let you translate that So Jean-Marc will show us an example of a trade from yesterday he used to trade the Eurex instruments in the morning and the S&P Limini on the afternoon and he will show us an example of the trade he took yesterday it is called stop running Ok, thank you So before we are going to look at the graphics to see how I present the day if you can tell them that as long as I play Syrah Chart So Jean-Marc will show us first the context of the market before the open kind of preparation of the day Ok So it was March 23 so it was yesterday So imagine imagine the market is not yet open so we are going to hide what did not exist I hide what was not yet there We were there This is the overnight session of the Limini SP500 It is the Globex session Ok And we can see the first thing we can notice on this session there are two very important things that we can notice on this overnight session that is just before the opening of the hidden session the first important thing is this reaction we had here on the clock of the day You see the importance of the purchase and sale and we see here on the very red here which is the clock of the hidden session of the day that the overnight session is coming So we opened here on the orange print and immediately we came to test the clock of the day and immediately we reacted with this purchase clock of the day it already gives us the first clue it is the first clue for the direction that potentially will take the market I let you already translate that Before the opening we already know that the buyers reacted very strongly on a point of reference of the market important So in that case before the opening we can clearly identify that the market has rejected an area before the open So this is the first information that we see on this screen The second very important information that we see is this bad high There are bad low and bad high or poor low and poor high What is a poor low and bad high It's when we don't have a single print at the top or at the bottom When we don't have a single print at the top or at the bottom we call it a bad low or a bad high Here you see that there is no single print What does that mean? It means that we came to hit the level at several times Look Each time is half an hour for half an hour, 60 minutes 90 minutes, 120 minutes For two hours we came to hit this level which is the front of the veil but we didn't pass So what does that mean? We spent a lot of time here and we made a poor high It means that there is a lot of stop at the top The second important information that we can see before opening on this market profile Here, I knew before opening that I had a stop pouch I'll let you translate The second information this Glovex or overnight session gives and the profile gives is that you have no single print neither at one end or at the other by the way which gives us an additional information which is that the prices have been the market has been trading in this area without any extension for hours So there is an accumulation of stops where Jean-Marc has just drawn it or texted it above So First information, we have this open drive Second information stop sellers here Third information we came back to test the level here just before opening and it reacted again So we know two things We know that the buyers defend this level and we know that the sellers have a lot of stops but a lot more than the buyers have stops here a lot of stops in this area These are two very important things before opening, thanks to the Profile Market Then it opens The Cache session opens at 42.50 and I will show you what I did So the market has started to go up very very very hard and I will show you after in Bookmap, I filmed we will talk about it after in Bookmap The market has opened here it has come to test re-test this hard point that we had identified I will let you translate this, it is important So we had identified an area where the buyers have been massively defending earlier and we know that the initial intention was a drive in the Global Cache session and we know that we have stops above, so the market opens tests again this lower area which has been defended two times already Defended again, the market drives up Very good and here after testing this important and drive in the North on the E-Print we come to do a little test and we have a small queue here before starting to go back and here potentially we have a signal to enter the purchase and we will see in Bookmap if we have a confirmation So here for example we have after the market opens so we have this first test the market drives has this little pullback and according to Jean-Marc we have a first long entry possibility at least in terms of trade location and now we will see in Bookmap how it looks like Just before in Bookmap I will show you the graphic in bougie it is important to make you understand the path of my reflection so I will show you this graphic here too so that you understand the path of my reflection so it was there sorry before jumping into Bookmap just in candles sorry so the opening of the Cache session is here I will show you with my little Tio and you will understand why I am looking for a long entry the opening is here at 42.50 we will test the hard point that we have seen in Overnight session following the test of this hard point and then at this drive on or where we see in Bookmap a lot of flashers we do a little re-test of the opening you see that it is a re-test of the open we just re-tested this opening so here we have a setup of the long entry Corel knows it well because he followed my training after an open drive if not at the first pullback like this important we have a setup here a long trade location that's a typical setup open we test lower we break the open we push higher we come back and in this pullback the first touch to the open is a good trade location to take along and of course we don't know if it will work what do we know I wanted to tell you first we know that there are a lot of stops here above this high swing and here so these stops if never the movement these stops will be the carburetor to accelerate the movement so we will anticipate a stop running that's the setup there are two setups the open test drive and the anticipation of a stop running so it's a combination of basically two setups the first is the one I just explained the open test drive setup to enter along and the long is even more promising as we know there are stops above and those stops will be further than the previous highs the stops will be basically fueling a further move up and that's what makes the trade interesting Ok, so I'm going to show you now in Bookmap what it gave so on a screen I have all these graphs that I just showed you the profile market this graph in point field and the footprint on another screen I have Bookmap to support the graph yesterday I put everything on the screen because I knew I was going to show you so I wanted everything on the screen so what you see here you recognize that's what I just showed you we opened here at 42.50 that's what I just showed you here opening of the Cache session and here we are doing this retest of the Open that's what we do in Bookmap that's what we are doing and at the moment of this retest I see in Bookmap I observe in Bookmap that we form a kind of beginning of Rounding Bottom the sales at the market are absorbed more violently each time that we present ourselves in the zone that we have identified so seeing this I entered here you can see my little rectangle I took 3 contracts here on 44.25 on this graph it corresponds to the VWAP and the mid of the session I let you translate this so that's after those tests lower Jean-Marc jumped in where you see the yellow dot where you have several boxes so it does correspond in the other graph that you see to the VWAP and to the mid of the session on the VWAP and the mid of the session excuse me yeah you're done? do you want me to continue? ok so I'm going to put the video a little bit on the road so you're going to see it's in real time and I'm going to mark on Bookmap my scenario you're going to see so here I'm showing I'm showing my market profile because here I'm commenting directly so I'm not going to put the sound so I'm doing my market context the same context that I made for you at the moment and I see that I'm on a long potential setup and I see that potentially there's also a stop running so I may be able to see further I'm going to move forward you see at the moment I'm going to show you I marked I marked on it stop psychologically it helps I mark my scenario I know there are stops on top so I mark it it helps me psychologically you can translate it if you want so on the Bookmap or draw on the Bookmap and just to identify the area as a reminder that there are stops in here an important thing also the delta cumulative of the big actors that I've set to 200 and positive that's also very important so we're going to continue so I'm already in position now I'm going to check my stock and you see there again here at this place every time we come back to the area as here there's an absorption and a rejection an absorption of market sales and a rejection behind so there's really on this area there's really an intention there's really a lot of buyers we have these rejections so it confirms that potentially I'm in the right direction so the first thing we notice is that each time we test this level we have absorption and rejection which shows the power of the buyers and look here very important at the moment where we are 4725 here we have 822 contracts that have been set on 4725 822 limit with a large load tracker which shows that the three quarters of the 800 contracts are taken by one actor it's very very important that so important when we arrive here we see that one and single major player taking about the three fourth of the size with 850 contracts at the bid just below the prices and pushing them up just for information you recognize well the shape of the volume profile that I explained to you balance, imbalance, imbalance which confirms that we are well in a trend so look the reaction on this large load tracker I surround it I surround it that's in real time it's yesterday where I wrote for you to be able to see I surround this big player we present ourselves on it boom boom boom again the sales are absorbed there is a rejection and there is a reload and this actor is replaced again I'm going to take the loop a second time a second time this actor is replaced again always just below the current bid it's very very important it shows the conviction I leave you alone and once we retest this level he is still and again he is here and taking this position at the bid you see we are going to go back because this is very very important you see I noted here that there are stops as well as I know we started to attack this stop pocket that I had noted here and here we will soon attack the second stop pocket and what makes me hold the trade why I don't get out because I'm already in trouble why I don't get out it's because I observe what I just described we will go back in real time you see this big player this large load tracker which is below the current bid and which absorbs all the sales to the market which is present look you see he hits the bid he hits the bid for now no but every time he hits the bid we see a reload of the limit order boom look 133, 125 contracts hit the bid ok it will reset and we will see that the level will recharge each time the sellers hit basically the bid that the bid is replenished and reloaded and that's a very important pattern it's a continuation pattern here we have a kind of iceberg icebergs that are on the retracement in direct trends like that icebergs are the most important look look at this big actor look it's very important it confirms that we can stay in the trade and in addition I know that I still have stops to go look for so I keep the trade Jean-Marc stays in he knows that we have taken the first couple of stops but there is another area of stops above ok this profile because I wanted to see where we were compared to the port high the port high is here so there are stops here that's why I marked them ok here and the prices are here ok so potentially I know that if we go into this area there will be a squeeze and the fact that this pattern it confirms that we will certainly enter the area I let you translate correct? sorry I was saying do you want me to repeat you? yes please I put my graphic in market profile to see where we were compared to the port high because above the port high we have the stop area ok that I also marked here so I wanted to see where I was compared to the stop area and the fact so I know that we still have stops here and the fact to observe that confirms that I must keep the trade and that potentially there will be a squeeze to the north that's why I put the little graphic in market profile next to it in addition in the footprint in blue there are buyers who are 5 times more aggressive than sellers first before arriving in the area so it's important so you see the combination I mean the market profile shows that we still have a way to go because we still are in the area with this poor high that we mentioned earlier so therefore the trade has still potential on top the footprint showing that the buyers are really dominant all the blue figures are filtered as 500% so there are at least 5 times there are at least 5 times more buyers than sellers at those levels so that's why Jean-Marc stays in the trade we will continue hop and we will start to enter the area and look look at all the stops that are jumping I I got two contracts and I put a stop protection here for the last contract that I have and I noted because there is a third pocket of stops that I just noted here so I know that we can potentially continue even higher and for now I have no reason to take out all my contracts but I still have two but I keep one I'm still waiting because there is nothing that tells me to get out of the trade and we continue sorry excuse me so once we arrive look at the stops that are jumping here and we have so all this these are stops that are jumping each time we have a big volume of dots these are stops that are jumping and look here this layering below the prices which helps the prices to rise more and this resting paper which is a confirmation that you have to hold on to the trade we have a little trouble because I think that the video does not advance at least I do not see it advance no but it's me who advances it each time the stops are taken you see the big volume dots which correspond to those stops so once the first big lots of stops have been taken Jean-Marc takes out two of the contracts and follows up with the rest of the position here and then here I am on two contracts and then it continues it continues and at the end of the day here I took out all my contracts and at the end of the day here it continues you see it continues look here you see we continue and at the end of the day I do not move Jean-Marc I believe here it continues it continues it continues it continues to rise it continues to rise and at the end of the day so we are here I remind you I entered here my trade location was there and at the end of the day we are here so we are 10 points higher that was a stop running and we continued to rise even more here we were up to 56 I entered here there were stops here here here it is the place where I showed you the big player and the iceberg and at the end of the day we were there so we continued to climb the stops were look at this phase where there are a lot of stops jumping the stops were a carburetor to continue this climb so there were two set ups there was the opening setup with this open drive and this open retest and the stop running setup there were two set ups that's all I'm done so that was the setup I think we might have a I don't know if you see the video going on or not ok, no someone is asking that too so I think the video stopped I notice that the video we always see your screen with the footprint on your left your graph on it but we couldn't see it we had to say it yes ok, I'll start again but we don't see your bookmap window if you want yes, I have to stop the powerpoint that's it maybe what a fool do you see Camtasia? no we always see the three screens on the right it's weird shit I don't understand you don't see my video we see the replay the replay but it doesn't go on I didn't put it on the road it's me who put it on the road perhaps I can take the screen for a moment and then give it right back to you I maybe how? I don't understand how do you do that I can do that but why? I can show my screen but here you see my it's my screen with the bookmap on the bottom right the footprint on the left yes that's it that's not what you saw earlier yes but we don't see it at all now we see the video but it's me who because it's on pause but it didn't move all the time it moves ok I have to start all over again ok maybe I just show I think everyone has got the comments unfortunately the video wasn't working but so let it play I recommend I don't know what it is it's weird it was because of point of fix I don't know in short tack tack I'll re-explain I entered in position after at this very open open ok then we had the pullback so we had an open drive the pullback on the open and so all this area the first setup in position is the open drive a potential zone with the VWAP and the 50% in bookmap it's here do you see the rectangles I wrote on the graphics? do you see? yes I entered here in position because we had an input setup and because in bookmap we had an absorption of these sales and a little running bottom which was built a price action and potentially I knew we had a stop running because I know thanks to my market context there are a lot of stops so I enter in position the trade location is here and then I wait and check in bookmap if the trade is still correct ok do you want to repeat this? and then think about it and then I could have checked and the trade starts ok I accelerate a little there you see I accelerate a little bit, we are a little bit later and we see again again a rejection every time we do a retracement like this boom the sales are absorbed and we have a rejection and it goes back to the north so this is a price action extremely bullish there is a pattern order flow absorption of sales in the market a price action bullish and in addition I know there are stops above so I enter in position long ok so again we have seen all those rejection absorption phases that's why Jean-Marc was long additionally to the setup on the open with the test and drive and so here you see the stops are identified on the top so that's why he's long ok and then I I always check my carnage to know if I'm still in position and what I explained earlier is that at some point I notice here that we have under the price under the price we have a large tracker here we can see the 822 contracts with a big actor who takes the three quarters of the 822 contracts the prices are present and you will see we see a reload of the limits and it confirms I put the video on the road it confirms that we can stay in position I put the video on the road it's good? yes each time the prices hit the 800 contracts we have a reload of the limit so that confirms that I can stay in position there is always a bullish pressure so the presence of this major player just below the prices and each time the sellers want to step in basically this player is replenishing the bid shows clearly that it's a good idea to stay in the trade long in the trade aim for stop running ok and you will see he will be very aggressive he will come back the big actor will come back look well here we hit the bid and boom do you see do you see this large buyer is back each time and that it's very important it confirms it confirms that we can keep the trade we can stay in position and aim higher and in the footprint it's the same we have a lot of aggressive purchase you see the footprint confirms that the buyers are very aggressive so we have a big actor who buys with the limit orders here and who recharge the limit orders we have a sort of iceberg here and we have buyers who come back aggressively so we keep the trade so the footprint confirms that the buyers are dominant so the buyers are aggressive the bid is replenished everything is gathered to keep the trade here we will enter in the second stop here and the prices will go up up until 53-54 at the end of the day when we started I'll let you say that and the prices will go into the next stop area and will accelerate and will end up this movement with an approximately 10 points move on the S&P you see this aggression this layering just under the price this stratification of the limit orders just under the price and this aggression of the buyers who leave the ask in the second stop look this big actor the same who follows the prices just under the current bid and every time the prices come back boom he buys, he buys, he buys and the prices go back so here we have a big actor who buys everything everything that is present at the bid and this is a very important and here the setup is identification of the stops identification of the position of the stops identification of the open type identification of the location of the position identification of the potential setup stop running and then we let ourselves carry by watching the map so it's all here and you see the layering below the prices continuing to push the prices up so everything was here and everything is here from the start with the open with the preparation of the session having shown that we have this poor high we have those potential stops area and so once you jump in then you basically just let the market do its job and stay on board as long as the scenario plays out here it is that's all I will go directly to the end of the video watch it, it continues you see it every time we come back we make small pullbacks the prices, the sales are absorbed here again a small pullback and the sales are absorbed here again and then the buyers come back and the prices will continue and so we are always in the setup and we keep the trade if we are patient and at the end of the day we are much higher I will go directly to the end of the video we pass everything here we are at the end of the day ok we are at the screen where there is only Bookmap we entered here the Poshastop was here we have a lot of smiles on the other hand here, here and we had all this house movement with all our work before the opening of the market context and all our work of reading the price action which makes us able to make a good trade you can translate this and it's over so you see the entry location and what the day has been doing I mean what the session has shown and all this hints and pre-market analysis and combination with what you see then in the order flow etc makes it for a good trade and that was a good day for Jean-Marc that's it that's it ok alright wow that was excellent now Jean-Marc thank you very much it was very very thorough and excellent understanding of what you use what you're looking at the setups yes it's very clear and we have all sorts of questions for you and a lot of people are requesting your your power point if you could get to them I think you know we've been going on for quite a while here so I'm wondering if you wouldn't mind perhaps we can take all of the questions and I can forward them to you if that would be ok that is to say I didn't understand the question since it's been a while actually it's been a while since we started can you send the questions yes that's why I'll put my email you can see it Trader6752 at robasemail.com so for any questions if someone wants the power point they write me to this email if someone has a question they write me to this email and if someone is interested I'm doing a training in Paris live they write me to this email ok I think I got it I'm not sure but I'm just going to go with I'm going to take the email here and I'm going to put it into the chat you can follow up with Jean-Marc via the email and the request for the power point there as well Corré you want to translate my translation oh I think Jean-Marc got it what you told us basically for any question about this anyone willing to have the power point or anyone willing to have more information about the the teaching is doing in June basically use this email ok I'll put that into the chat so all of this information everybody it's in the chat box there so you can see it there and you can copy it and paste it as well I'm going to put my email in the chat I'm writing my email in the chat and I'm also going to do the translation I put my email in the chat ok yeah I've got it in there Jean-Marc and as well here is his youtube page and twitter handle so yeah you can write me under my videos in the comments you can ask anything to me on my youtube channel on the comments commentaries yeah on the comments you can ask me everything you want on my youtube channel ok ok so I think that's it Jean-Marc and Coray, I mean just excellent job Coray I don't know how you I don't know how you did that to be honest I do the same every day so it's quite natural you speak the same language of mine the friend of mine he knows everything about my methodology yeah well that was excellent and very thorough and very solid information a lot of people have commented here this is very solid information that they like very much so you can tell him I stayed simple and very light yeah and I can confirm that's also a comment of mine he stayed really really on the top layer of the comments and kept it as simple as possible it's sometimes much more in depth and much more complicated when you discuss with him I do it on a daily basis on a chat we use together so yeah ok this one was simple let's say not so much in depth it's still though it's so helpful for everybody to understand how to integrate this tool that shows very objective information we can you can tell him that we can do a webinar again when he wants I can talk about many other things with you anytime he's able and willing to make other webinars on other market situation or other setups using other patterns so you have multiple different setups to show, explain and comment yeah yeah in fact I saw the list of the things setups that John Mark is looking for it's extensive you know it's great to have a presentation from a master such as him thank you very much guys it's me thank you and thank you again yeah thank you Bruce, thank you everybody yeah we would love to have you again as well okay no problem okay maybe if I had time maybe a little scalp in real time maybe yeah that would be a treat yeah okay alright well thanks guys we'll wrap it up and everyone have a good weekend and we will catch up with you next week you will put the video on the channel of Velox Pro I will forward the video to you okay thank you okay alright bye bye everybody goodbye everybody thank you ciao