 Cast is now starting. All attendees are in listen only mode. Okay. Good afternoon traders Okay, welcome to the Webinar here. This is for trading us equities and the data visualization with DX feed book map. Okay, and What the goal here of this Of this webinar is to show a competitive advantage that you can receive right now using DX feed book map We'll get into it in just a minute here. Let's just go through the risk disclaimer trading equities futures Hold on just a moment I'm sorry just a moment here. Let me just turn something off so we don't get interrupted again. Okay. Sorry about that Okay, so risk disclaimer trading equities futures Involves substantial risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results Okay, a little bit about me. My name is Bruce Pringle. I'm a trader of 10 years in a variety of markets order flow specialists here at book map Lead the trading education and expertise in order flow and market micro structure You can follow us on Twitter at book map underscore pro You can also subscribe to our YouTube page Just look up book map and subscribe and then you can always reach out to us at support at book map comm All right, so starting off this webinar here with get a competitive advantage right now. That's a pretty bold statement And but we're gonna back it up and I'm gonna show you how that is possible with data visualization and Getting superior data using DX feed book map and how we're gonna do this as well We're gonna look at and see all market liquidity and full depth of market We're gonna read the order flow in the mark micro and macro structures We're gonna read the algos and be able to see the larger players I'm gonna show you some examples from book map traders and we're gonna look at some of the live market analysis as well right, I'm gonna start off here with a chart of Apple and This was back on March 22nd And for those of you who are new here, you're looking at something that might be foreign to you Well by the end of the webinar, we're gonna review this chart here and we're gonna go through and Analyze and be able to see some of the advantages that we're Looking at here in this chart So based on this webinar, you should be able to go back and start to see and understand What you're looking at and where there's distinct advantages Okay, so a little overview though of DX feed book map. So what is it? well, it's a trading platform and DX feed is the data provider with book map and you will be able to Connect your DX feed also and trade into an interactive brokers traders Workstation if you want to trade from DX feed book map DX feed book map is a unique visualization software Again, the DX feed is what connects us to the US equities and allows for Futures and digital digital currency connections as well. Okay, so The DX feed book map you can connect to a variety of markets all at the same time. It's it's For us equities for futures and for digital currencies Right, we're gonna start off a poll here because we're gonna be talking about order flow so let's just get some some insight here into the order flow and You should be able to see the screen there if you can just Provide an answer of what is order flow? Okay, is it are you looking at the traded volume or is it is it something else? Is it? The just the order book information or is it both? because traditionally order flow is something different than Truly what it is and there's reasons for that. Okay looks like getting there a few more if you can just Provide your answers here, and we'll go over some of the some of the results here Getting some pretty interesting results. All right, just a few more if they can just answer here And I think we'll be good to go. All right. Well, let's let's go through it then. Okay, so What is order flow? Is it the the traded volume? You know both buying and selling or are we looking at the the resting orders? The limit orders that are in the depth of market, or is it a combination of both? Okay, well the answer is it's a combo and There you know looks like About a third of you thought it was the traded volume And just a few thought it was just the resting orders and about half said It's both okay now traditionally it is known as the traded volume and Just the transactions that occurred in the markets and why is that it was because that was the only data that was available When you're reading the tape or reading the order flow, you're looking at the transactions You're not you're not able to look at anything else That that data wasn't available, but to look at the entire order flow We want to understand not only took the transactions, but we want to understand the auction where they lined up to bid and offer and Not until recently Has this really been available to us? To be able to understand that now in the early 90s. It was available through your depth of market your dome However, the problem is with that dome is that is fleeting data It's only there for a bit when the numbers change in the dome The data is gone Right and so what this is the advantage that you're going to get using book map because we can record and display That auction historically which allows you a lot of different advantages. So anyway, let's let's move on here We'll close up the poll and We'll get back to the screen and let's get back to our presentation here Okay, all right. Well, let's talk a little bit about the market data. Okay, so And and this is what I mean talking about the traditional charts And and traditionally what was order flow? Okay, it's the executed volume And traditional charts show that pretty well Now they also show a period of that data and that's aggregated data Like a candlestick or a bar chart or maybe it's a point-and-figure chart from the old days Whatever it is. These are aggregated periods of time or volume Or some derivative of it and That's that's a disadvantage Because when you're looking at that aggregated period, well, there's all sorts of data that is now closed off to you You're not able to see within a candlestick for example Because you're only looking at four data points open high low and close of that period And that's that's really the the problem there And a lot of the traditional charts try to make up maybe for some of those disadvantages through indicators And there's a lot of problems with the indicators too because they're first off. They're looking at opaque data and they're always a derivative of time price and volume And that is a disadvantage a lot of times these indicators because of some sort of mathematical computation that they must Go through they lag. They're not giving you a prediction or an area where we think price is going to go to so all sorts of disadvantages in those traditional charts and It's really about 10% of the data. It's actually less than that But the data in book map what you're going to get is a hundred percent of the data Out there. You're going to look at the executed volume Just like the other charts, but you're going to be looking at non-aggregated data Okay, every single data point or event in the market is recorded in book map And then you're going to get full depth of market. Okay, and what do I mean by that? Well, it's We're going to show some really good examples of it, but what it is Is there's no limit to the depth? Okay, it's not just ten wide on the bid or offer It is full depth. Okay, so several dollars away all those areas in the book are live Okay, and that allows you to not only understand the current situation with price In the auction, but also the historical Okay, so looking over here to the right to this pyramid We can see these Stratas here in this foundation Everything in foundation that we draw our conclusion from is based on the data So we want as much data as we can get that gives us information Okay from that information that we were going to draw from the data leads to knowledge our knowledge base Okay, and we're starting to put the pieces together and starting to see patterns starting to understand What's going on in an auction And then from that Ultimately we get to the top of the pyramid in wisdom and being able to foresee These patterns play out in the future Okay, and this is a process actually we go through in the live webinars every day Anyway, let's move on to the next slide. So the data makes the difference here Okay without good data everything else is going to be wrong garbage in garbage out is the the key phrase We're used to hearing. Okay, so with DX feed book map what this is going through is it's it's offering all US equities Is offering that full depth of market? Okay, very low latency. There's servers all around the globe and It's a consolidated view choices that you have here you can get NASDAQ total view and last sale or You can get bats or you can get both Okay, and I'm going to go through that at the end of the webinar here. So we can go through some of the pricing and Availability on the on the different choices you have here All right, let's take a step back and take a look at a regular dome that I alluded to earlier Allows you to see the auction. This is great. Okay, so here in this dome. We're looking at the bid over here on this side This is Green Mountain coffee roasters An image off the internet and then on the right side here. We have the The ask as you can see okay, and you know, these are traders lined up here providing liquidity in the book at these price levels Okay, this is good. It allows you to understand the auction of the current auction and what's going on And it allows you to start to optimize your your trade management your entries and exits You know, you can see the larger players where they are in the book very precisely And this is what the pros are using. Okay, this is your level two data that you know came out in the 90s Okay, so Comparing that to book map. Well, let's just go to the top of the book. Okay best bid and offer Well, this is what it looks like over here in your dome for stocks. This is what it looks like in book map okay So it mimics a vertical dome here and you can see the this is your best bid and offer here You can see the price ladder is here and then we have our in the dome this C O B column Which stands for current order book. We see the depth on the offer here And these are contracts traders lined up to trade at these levels here on the offer and then down below here is the On the bid okay traders lined up to trade at these areas down here. Okay now We're not looking at Green Mountain coffee rosers looking at Apple. Okay, so they're not gonna all line up nicely here But anyway, just illustrates the point here Comparing the dome and understanding what it looks like in book map And now let's go over and look at just the the bid side and the depth of market on the bid Well, here it is in your dome. Okay, and then here it is in book map Okay, and I'll now on the offer. Okay, very very simple here You know these these are the closest to the market here Okay, closest to the market over here and as you go further away in price You see the liquidity here offered and then again here as you are close to the market here and the further away you go With the price ladder you can see the liquidity at these specific price levels Now the disadvantages of this dome I alluded to and said that there's no historical view. Well, that's true These numbers change really quickly. This is a static image here but they're always providing liquidity and pulling liquidity and You know, it's quite tedious to read that and start to understand. Well, wait a minute. Where did they go? And where did they pull to how much did they pull? How long were they there? All of these questions It's a lot going on and it's very difficult to read just by looking at these changing numeric values So there's no historical view of it. That's a disadvantage Okay, you're not able to read the the algos You know, it was an algo or was it a real player that was adding or pulling Well, we're going to show in book map how you can very easily read algorithmic behavior And then there's no context here to micro structure nor macro structure You're only getting this current myopic view of the market for this very moment Okay, and advantages using book map is the quick graphical Representation because what we do is we take these areas of liquidity here Let's say here on the offer and turn it into a graphical representation Okay, so the heat map here is how we do it So everything to the right of this vertical white line is the current market Here's your current best bid and offer. This number is the last traded volume. This is your heat map We're looking at Apple Okay, and here's your depth here on the on the offer up above and your depth on the bid down below Okay, so very very simple Consolidated view here. You see all of the liquidity at this one price level okay, it's not broken into multiple market makers and That's the consolidation and so you get all of it at once And be able to see exactly the liquidity there at those areas Okay, and then it's transferred into a heat map So if it's very high liquidity as you can see here some of the areas of higher liquidity Okay, 3,600 2,200 well if it's orange or red dark red is high liquidity And then if it goes it goes down to orange then yellow then white then blue and then black Okay, black being the lowest liquidity now the highest liquidity stands like out like a sore thumb here We have over 31,000 contracts up here at 186 50 Okay, so that's what the heat map allows you to do is understand the liquidity Graphically very quickly very easily without the tedium of these numeric values Okay, now you start you can start to understand though some of the context of this liquidity and look at market microstructure Okay, because we record the data here the heat map as Recorded and projected onto the chart Okay, so here they are You can look at these very specific price levels and note these striations up here Okay, so it went from orange to yellow back to white Etc. This is the adding and pulling of liquidity and it's recorded here. So now we can start to judge These traders are providing this liquidity and how interested they are actually to sell at some of these levels Especially when price comes up to them We can start to identify precisely if they traded or if they pulled And anyway, I've got several examples to go through Let's let's take a look at this is the kind of current snapshot of Apple Let's take a look here at some of the other elements here and then talk about some of the microstructure as well Okay, because the liquidity heat map is just one element on the book map chart There's two other elements here And that's really it is quite simple market data And it's a very objective view of this marketplace Okay, because all we're showing is historical best bid and offer Okay, that is recorded on the chart. Okay, the red line is the best offer the green line is the best bid Okay, and then we're looking at the volume that traded the transactions that actually took place on that historical best bid and offer Okay, so this red bubble here. That's an aggressive seller Okay, right into high liquidity here, too And the green bubble over here. Well, that's an aggressive buyer Okay, they took liquidity off of the best offer. They hit the market buy button Okay, they didn't provide they didn't wait and provide liquidity in the book Okay, and then again, here's our best bid and offer in the last rated volume down here All right, so we're still looking at Apple. It's still that same feed that we just looked at in the previous slide Okay, and here it is again But now let's start to understand the context of the microstructure And we're going to start to put these pieces together Okay, so looking at it. Well, we know we're in a downtrend Okay, we can see it and in the microstructure. Well, why are we well? We have high liquidity up here almost 32,000 shares up here at 18650 Note the the round number as well You're going to see this again and again in the equities especially more than than any other market and then You can also see that well a lot of liquidity here. What was the reaction the buyers? Well, they shied away from it. We found sellers instead. Okay, note the the order flow here or the transactions Is there's more selling to the downside here? Okay, you see you see the buyers start to come in a little bit into high liquidity up here They don't take them on okay exhaust out and we find more sellers down here and the sellers do take this liquidity on here Okay, and especially higher liquidity that that is even more aggressive than up here at 18650 They lowered the offer down to five cents to 145 and and also 146 And we didn't find buyers. We found more sellers. Okay, so we're putting that this context together of Lots of supply up here and getting pretty aggressive Buyers shying away finding sellers driving it lower into lower lows Okay, and this is just the market micro structure that we're looking at and This is a benefit because we're looking at current market in the depth of in the in the dome here and being able to understand now context of that current and recently past market Okay, but the beauty here is and and note this area down here at 18626 or 125 18625 Okay, this is the same chart. Okay, just a little bit later in time Looking at Apple. We're able to use the dome on a macro view now because we've recorded and transposed all of this liquidity And we can see it historically. So all that was was a pullback Down to well this level right around here pushing the market down just a little bit with very high liquidity Okay, to try to reach maybe some of these other areas in the bigger trend then bigger trend is obviously Up at the moment here. Okay coming back up to the open and look at all the high liquidity up here around 186 well we saw it at 18650, but then 60 and 70 up in these areas as well very very high liquidity Okay, and now we're starting to find some buyers Looks like they started to pull some of this liquidity here starting to find the buyers starting to approach these areas Okay, and this is all dome information that we're able to extrapolate and Place onto that historical chart All right. Here's another macro view. We're looking at Disney here And I'm going to go through some of these examples pretty quickly So let me know if you have any questions because I do want to get to the live market analysis and Show you What's going on in that live market? Okay, so what are we looking at here? Well, obviously high liquidity up here 102 in Disney. Obviously high liquidity down here at 101 Okay, but look at the reaction down here Okay, the sellers took them on they traded right into this area at 101 We see the large transaction and they traded through this area Okay, so there was more selling pressure to trade through that area But down here look at this little Low that's made down here and we don't find many sellers. All right Well, the market starts to rotate back up into some of these areas here and well those buyers step right back in Okay, they're still here at 101 ready to absorb more and in fact they did they got tested here We know the larger players are down here. They're at 101 There's no question about it. It's just really objective It trades through a little bit. Okay, but we start to find buyers And buyers come in and they start to lift the offer We start to see clusters of buying starting to go to higher highs here Okay, and then up here we break the high we break the swing and we find more buyers as they swept the book higher Okay, they took all of liquidity off of the best offer for several price levels. That's this as a book sweep 101 they still jump in they're still interested in getting in line and trading down here But look at the the volume start to pick up especially up in this area here at 101 50 buyers are clearly in control Okay, well, where are we going with this originally? I would say you're coming up and you're gonna test into this high liquidity up here at 101 50 well, it they pulled and We kind of went sideways for a bit, but we found more buyers were coming up to 102 All right, and we did but I just wanted to show this example between the Buyers and the and the sellers and the aggressors as well Okay, and this is a reversal in that order flow. Okay, if you want to look a little closer at it Well, here's your shoulder head and shoulder Okay, now we've been looking at those patterns for years But this is why these patterns exist. It's all here in the order flow It's all this relationship between the larger players providing liquidity their transactions And then the follow-through of those transactions and liquidity Okay, so start to see things a lot differently when we start to understand the complete picture of the order flow All right, here's an example with volume profile and We see this all the time in the markets and we can see that Buyers are we're looking at Tesla buyers are lifting the offer There's a bit more buying activity than there is selling especially here. We see the the lift And this book sweep up into these higher areas of liquidity at 30305 And up here at 303 50 And then we kind of go sideways here for a bit. Well looking at the volume profile this CVP Column over here Well, this is your low volume node here in this area around this 302 50 Well, if your volume profile trader you'd be looking for a pullback to that Okay, because you're only looking at traded volume cluster of volume down here Obviously the quick book sweep to the upside Obviously, you're gonna be your low volume node and then volume kind of Accumulates sideways here another volume profile, but the story is not about the volume profile The story is about the book. Okay, the the depth of market. Well, here they are at this 303 like 08 maybe or or 7 somewhere around there very very high liquidity Okay, they're pressing they're lifting that or raising their bids to higher area What's not gonna make it to your low volume node because the story is here. There's more buyers here This is this is the story that's going on. You wouldn't see this if you weren't looking at the depth of market Okay, and very very clearly you can see that the larger player comes in at a very specific time And what was the result? Well, we got our push up into the higher liquidity and the target was up here at 304 30 and right We're gonna go over this example a little bit later as well because you're gonna be able to see the there's a little bit of Potential spoofing in some of these areas on the bid. Okay, because Ultimately, we did we did trade down to that low volume node here, but the story on unfolded. Whoops The story unfolded here though. Okay, so at this point we're looking for this target All right Let's move on and get into Just some basics again Support and resistance but understanding the context of liquidity and a trend here as well Right. Well, look at the layering in of the larger players looking at Facebook here Here's our 930 open down here as you can see the volume obviously picks up, but right away we can see due to this Complete depth of market This is all live this whole chart is live Okay, well look where they started to layer in Okay, larger players here at 180 181 182 and 183 okay all at the big figures all big players and they were here already waiting in line At the market open they already placed their orders Okay, so they're gonna be first in line No question about it and Well the trade the buyers took them on here Traded right into 180 filled that area. We do that was all absorbed. We we Have a pullback here. We come back up and they're they're not here any longer. So where are we going? Well, we're coming up here to 181 Okay, kind of shy away for a bit, but come right back up and and trade through this area Okay, now look at the other side though not on the offer here. Look on the bid Well, see see how they're this this area here that was resistance and absorbed starts We start to see some buyers stepped in on the other side Okay, so They're they're starting to get interested where these areas that were resistance are turning into support Okay, we can see the buying support the same happens here as we trade through the 181 See how they came in here on the bid side. They want to be buyers now instead of sellers Okay, and and you'll see that many times over and over again. So, you know some some really beautiful patterns that start to Show up here 179 obviously was down here on the bid 80 81 and then you know looking for this ultimately in this uptrend here looking for the target 183 and that was reached All right, here's again Facebook. Here's that 183 level and Let's talk a little bit about absorption Right now what is absorption? Well, it's just when it's just like a sponge or or You know some some sort of You know paper towel or something where It absorbs all of the Moisture for example. Well in this case it's absorbing all of the all of the selling or buying pressure But we had 52,000 shares up here. Okay, and here are the buyers They step right into that area. Okay, and we see the big transactions here that take place But they absorbed all of it. In fact, you can see they didn't even trade up through There's still more liquidity up here at this level. Okay, and they they were not able to trade it above it Okay, there's just there's more sellers up here. Well, it all of this buying pressure is absorbed Okay, well, where are we gonna find more buyers? Well, we need to find more buyers to get through this level in this area here at 183 Okay, you can see 52,000 shares. Look what traded here. Okay, almost 51,000. So it almost absorbed all of it Okay, but it didn't we need to find buyers. Well, where are we gonna find the buyers look for the buyers here in the book? Down at this 182.60 and then also this go to that half figure at 182.50 down here Okay, and I started to start to find the buyers down there, and that's exactly where it goes to like like a magnet Okay There's another great example in Apple the other day Traded up here into, you know, 327,000 shares Completely absorbed lots of buying pressure completely absorbed. They're not able to trade through it They still provide very high liquidity up here. We've got to rotate lower And it does and it comes down to an area here where we don't see the liquidity in the book. It's pretty dark But looking for a retest back into where they started to initiate that move on the buy side And it would be right down in this area here And again, what what traded here? Well, you can see only 112,000 Contracts traded. So basically just a third of the liquidity that was up here traded. So there's quite a bit more up here All right now the opposite of that Absorption let's talk about exhaustion in areas of exhaustion here. Where are the majority of the Transactions and liquidity. Well that we we've been going over that here and we can see them on the on the offer The opposite of that would be the on the pullbacks here and look at the transactions that occur in some of these areas down here Okay, very very few. There's there's just basically there's no trading down here The best bid comes down here and nothing trades. This is exhaustion. This is what occurs when When there's no interest in the market it exhausts out. Okay, so what happens at these points here? We need to rotate back up to find liquidity and buyers and sellers and Where are they? Well, the majority of them are up in some of these areas and that's exactly where we go back to Okay anyway It's very indicative of a trending market. You see higher the areas of liquidity here for example on an uptrend The market the aggressor trades up into those areas On the we're making higher highs and then on the pullbacks you're making higher lows but There's no trading therefore, we have to rotate back up into the Higher volume nodes and and where the liquidity is All right. This is an interesting example here of just looking at at the some algorithmic activity and we're looking at Amazon here and In specific we're looking at a an ignition algo here. That's pushing price through this 1,600 level And this is what it looks like and this is what it would be impossible or very difficult to track in your depth of market Your dome and since book map records all of this activity. It sticks out like a sore thumb This is an ignition algo and this is what it looks like and this is what it's doing It's providing high liquidity down here at one or at 15 98 10 Okay, it pulls adds higher liquidity a bit higher here around 98 20 and then 30 40 and then 50 and 60 Okay, very quickly. It's pulling and adding up to higher levels and we we can see it we can record it Here it is and that what is this algos? Game here. Well in this case it looks like it's trying to ignite Orders buyers to the upside and press it through this key figure of 1600 even here in Amazon Okay, and mission mission accomplished I mean you can see that there's very few sellers in these areas here nothing but aggressive buying here and And then they come up into the 1600 and these guys get they pull Okay, they don't want to trade here. Well, where we're gonna go We got to go up higher to find higher liquidity and that's exactly what it does here Okay, so this is trying to ignite buyers to trade up above into these areas here And that's the goal of Ignition algo. Okay. Now. This is a deceptive practice And it is forbidden, but still you can see What's going on here by looking at the Historical limit order book in book map All right skew of the book here's another example looking at JP Morgan in this instance Well, high liquidity up here around 114.50, you know 29,000 shares, but then look how aggressive they got here in the skew Okay, very high liquidity. We know that this got to be Very high probabilities the same actor high liquidity that pops into the book around this one 14 46 And then at the moment that they pull it they add it lower being very aggressive here Okay, again pull add lower pull and add lower and and look at what it does to the The price and the traders. Okay, the buyers start to shy away from it a lot of supply showing here The buyers aren't interested and we start to rotate lower. Okay, which was an uptrend Okay, but you can see the effect that it had here Okay, now this is called a skew of the book and you need to think of this example here as you would an auction Okay, larger players coming in into an auction with a lot of supply okay, and If there's a lot of supply and we don't have enough buyers to be interested in that supply We're gonna rotate lower. All right, and that would be very difficult to see With if you're just looking at transactions and traded volume, it just wouldn't be there okay the The spoof and skew this is that example in Tesla that I showed earlier I just wanted to cover it again. The story remember was this area here at this 303 10 High liquidity here not looking for a pullback to the low volume node yet Okay, they skew the book they even show higher here and higher here to reach their target which is up here at this 304 30 area once they get up here. They start pulling Okay Objective done this can come back and try to exhaust out into that low volume node and then rotate back higher up into some of These areas again. All right now. I'm gonna wrap up here pretty quickly. I do want to go over this one example looking at Liquidity in regards to the news and geopolitical economic events right, so this was Waiting for Well, it happened, you know kind of out of the blue We don't know when these events are going to happen But the market here is telling us and we're getting this information free basically in book map Look how they're pulling liquidity across the board here all levels Hey And this is around Just before 245 Eastern time. We see big transactions that takes place here probably at the news event. This was Tenge Tariff or I'm sorry tariff protection That was announced by Trump against China so You know it was a speech and or maybe it was a tweet and We can see immediately Everyone starts to pull but we're getting insight here and we're getting insight for free of evaluation that You know larger players spend millions of dollars trying to understand evaluation of a specific instrument in this case with Tesla Where would they still be willing to be sellers and here's your answer? This is what is worth is up here, okay? And that's exactly where we go to actually someone even front ran it a little bit here. You can see around this 31850 area But it comes up into 320 and in 10 cents and that's where it trades Okay, so they stayed in the book and we're getting that insight here Right now. This is a very curious example because look at the very very strong Auction here in the transactions. Okay, nothing but buying pulling this almost like at an exponential rate Okay, due to the news and Traders a little bit of you know Anxiety a little bit of back and forth here, but the traders put it together and start to understand. Okay tariff protections This is bullish for Tesla. Okay, this is a US company And they're getting protected Looking for this to be evaluated higher Okay into where someone else is going to take the other side of that trade All right, so now let's compare that same example Okay at the same time here with Apple Why is Apple going down? Is it a US company? Well, technically it's not it's an Irish company, I believe but There's relationships with trade in China were for components and for assembly So the completely different reaction here. Well, tariff protection is not really going to help them that much then is it? Okay, so actually It's going to be worth less and we see the traders start to jump in here and Trade to the downside that this is this news is going to hurt Apple Okay, due to the globalization. So we're getting you know two different insights from the same economic news But putting the pieces together and understanding the evaluation of these instruments Where where are the traders willing to buy it? 174 no question about it. Here they are Okay, look at the trade through here This 175 and then sellers through if they're they're looking for a pullback here to 175. They're interested They'll be they'll be happy to provide liquidity up here, you know 54,000 contracts up here Okay, now something interesting about this due to globalization And just putting these pieces together if you're a fundamental trader. Well, you know, you can use this to your advantage Okay, a lot of fundamental stock traders out there, but start to understand valuations of these instruments when these news events occur and you're getting it for free Okay, well look at the sell-off here compared to the The the rally in Tesla. I mean that Tesla is not not Reliant on a lot of components coming from China and we can see it clearly in the price action in the trader's activity Well, you know here we can see that You know, they're not so not so sure on that sell side. Okay. It is going lower. No question But it's not at the same exponential rate that Tesla was going up Okay, so we can see and start to understand and extrapolate meaning from this that well, you know maybe maybe it would be a Good opportunity to buy at some of these lower levels then And maybe it won't hurt Apple as much as the initial reaction traders had Anyway, just extrapolating some of that economic and geopolitical events Into the specifics of the company and then being able to see it here all displayed in the order book All right Take a look at Amazon now what I'm gonna do here is I want to take this same Example here of the news, but then what we're gonna do is we're gonna we're gonna Make an analogy with the opening of the market Okay, so this is the market open in Amazon and this is no different than that geopolitical event Okay, because we're looking at pre-market data here and we already know What larger players think this is valued for for the day and they spent millions of dollars on their analysis to be able to You know start to provide liquidity with high confidence at some of these levels So this is all pre-market. They're already lined up in the market with their orders ready to go They're up here at 1580 on the offer. They're down here at 1545 on the bid This is all pre-market and then here is our 930 open right here with this vertical yellow line Okay, well, you can see that the buyers stepped in already and are trading up in the pre-market They're looking for maybe a slight pullback into where they initiated down here looking for this 1570 to trade and I would be targeting 1580 okay, just based on what we already know and see in the marketplace Okay, and here's here's the action after the 930 open. Well, we did we did get a pullback here and Then we see that the buyers did initiate Again down in these areas here. You can see them start to initiate here pulling it higher and target the the 1580 Okay, these larger players usually get what they want Because they're the one that they're holding all the liquidity the market needs that to trade Right, okay a few examples from some book map traders some interesting examples here Using in this case some correlated markets looking at SPY this trader He's looking at his candlestick chart here. Yeah, he sees that the the market SPY starts to go down a bit Okay, well, he's he jumps over to book map and he's looking at the VIX He's he's making the correlation here with the VIX the volatility index and he sees that well that's going down, too Well, something's wrong here then I mean light nice big wall of liquidity here on the offer in the VIX But volatility is going down okay, well Price should be going up if volatility is going down and we can see that actually price is going down so he sees that Misaligned correlation and then he jumps in okay, and he's actually jumping in and into the Options market here. So you can see here at 2 55 p.m. Okay. He trades he buys one S&P E-mini option at 1325 Okay, then he notes that price starts to climb back up back to the top of the range here or even close back up to the swing here Okay jumps over and looks at his Volatility index again, and he sees that price is going down Okay, so he's looking to cover then is starting to get into some areas of higher liquidity as you can start to see in the current book down here at the low And yep, it looks like the the correlation is all matched up pretty nicely now And decides to cover okay at the top of the range in that S&P so six-minute trade and sells it and And captures a dollar 75 Okay, so 175 bucks in six minutes a very simple example of simple trade and just one option Okay, here's another example of a trader looking at VTV T pharmaceutical And we're looking at he well. He was eyeballing this 150 figure here. We're looking at some penny stocks now And we see the yes strong auction up through the 150 area Okay, and starting to bounce up above in that area here, but look at the book It just some really great insight here in the book You know that support or resistance becoming support idea. Well, here they are okay, and they're absorbing You know we can see you know 29,000 shares here and then up above they're even getting more aggressive in these areas here We see 26 27,000. Okay, even more here, you know 28 or 29 maybe So getting very aggressive in that book He also knows this little spike here in some of the volume right in this little area here on the buy side He's looking to get in Looking for a pullback into that high liquidity looking at to carry it up higher up into at least Some of the higher highs here and then areas of other high liquidity and actually this actually shot up for quite a few days afterwards this was a big a big pivot in the market for For this instrument Okay All right, so we've gone through now all sorts of examples here looking at full depth of market being able to understand all of the market players providing liquidity and Starting to get some examples here That that show that advantage that we're receiving with this full depth visualization Okay, so being able to read that mark micro and macro structure being able to read the algorithmic behavior and clearly seeing the larger players Layer in to these markets really works well with DX feed book map for the US equities Okay, we looked at a few examples of some traders. Let's jump into the live market analysis and then let's field some questions Okay, how do I get out of this? Hold on just a minute. There we go Okay Yes, so this this webinar is recorded so it will be available to you guys Let's take a look at well. Let's see what's going on here. We're looking at Twitter All right and Twitter coming down into Here's the you know the market open you can see the the little bit of the pre-market and the volume really picks up here Well, this looks just like some of the other examples Higher liquidity is up here lower, you know on the bid the liquidity is down here trades into these guys down here We see it rotate back up Where's it trade to the other side of the of the range here that you can see right into high liquidity? Where is it at 33? You know just just like just like some of the other examples We get big sideways kind of, you know Slow kind of grind back down to where again the low liquidity is down here I'm sorry the high liquidity that's down here at this lower 3250 area. Okay. Looks like they traded and there's still still back in here with high liquidity Okay, so what we're coming up about you know almost at 2 o'clock here. So Let's say we'll see if this is going to accept down below or not else I'd be targeting this area right up here at at 3275 very high liquidity up here Okay, so anyway, let's have a quick look at here at Twitter. Let's take a look at Apple And jump back a nice trade through here in Apple around Just before 1245 as you can see very high areas of liquidity here now. This is an example of a flip right Here they are Very high liquidity and they trade through them. No question about it. Look at the transactions that take place and and and still see this brought down to lower levels and Then they jump on the other side here. Okay a little bit higher not equal. Okay, not not at the same areas where they were Providing a high liquidity on the bid. Hey, the offer is a little bit higher here around the 77 level as you can see about 10,000 contracts but Still showing some some some bearishness here here comes the move and the sweep down into looks like 187 the figure here Okay All right, so what trending Lord? No question about it here in Apple looking for this to trade down into this 187 figure And looking looking pretty good for that that area to get tested right now Okay, look at them also on the offer see the high liquidity here. Okay, this is a better example This is a reading a little more of the microstructures really not that micro But look at the flip here. They were on the on the bid Flip now to the to the opposite now. This is even more aggressive than what we looked at up here at 77 Okay, they're at the same price level right, so Someone's saying here larger players are telling us that the valuation of this instrument now Is going to be down in new into a new trading range and new level below this 187 25 area Okay, and looking for it to test into 187 even right same thing over here on a macro view as you can see Okay trading through this area. What was a support now is basically resistance We don't even trade back up above it as you can see we only trade up to this big volume cluster here Which is going to be a high volume node And or at least it is here I should say it's actually going to be a low volume node in the in the bigger picture of things as you can see here but Back to this little cluster of high volume is what I should say That's as far as it goes on the buy side or rotate lower sellers are in control Okay, start to note clusters of selling at lower lows Targeting higher liquidity down here on the on the bid All right. Well, anyway, I've Kind of extended my time here and gone too long We can look at many more if you guys have questions. Let me know Else I want to get to some of your questions and answers here And let's take a look Alright so, yeah, ah Wanted to end up here with our Example in Apple now. This is what we led off the the webinar with this example here and in Apple and promise to come back here and analyze this and start to understand all the bits and pieces and put it together Okay. All right, and let's let's do exactly that. All right. So here's our our 930 open right around right around this area here and Where's the liquidity at that time? Well, they're up here at 176 50. They're down here on the bid at 175 Okay, and we rotate lower test down below here the swing rotate back up When we start to find buyers and we're trading back up into the range I'm looking for the other side of the range and I'm looking for this high liquidity to trade here at 176 50 Well, it doesn't right what happened that they came in here and got aggressive On the on the offer and they lowered it with very high liquidity just at the top of this range The buyers don't trade through them and we they're starting to shy away from those areas we start to find some sellers hit the bid Looking then for this liquidity down here to trade and it comes right down to it like a magnet. Okay trades down here Rotate back up and we see again more aggressive selling seems to be the trend They're they're lowering the offer here. They lower it again here and here And then this was that fundamental news or that geopolitical news that came back into the market at this time Right. This was that China Chinese tariff protection That was announced by by Trump or US protection, I should say against China and Looks like in in fact We can maybe even allude to that. Maybe someone knew a little something here Because we see this high liquidity on the offer Anyway, it makes me a little suspicious But we see the follow-through on that our flip again That we just even saw in the in the live market from 175 on the bid is obviously now on the offer Looking for the lower areas here to trade and comes right down to it also very curious on this one on this Apple example, we noted how well traders weren't they were not as sure as they were with Tesla To the upside as with Apple to the downside here And this is after the market closed and look at them layer in here. So very very curious example to you know some buyers larger players layering in at 173 70 80 and 90 Okay, with very high liquidity after the market. Okay, so they're looking to scoop it up down here right So that's We can get to the questions and answers now and Let me know it's I see a few already in here So let me start to get to it. Oh Thank you Caldoon Yeah, yeah, you can get the point of control indicator it it comes with book map. Okay, so no problem there Can I explain a little bit about the CVD and the POS and if possible some examples? Yeah, well the CVD You know looking at the cumulative volume Delta Let's go back here Take a look at book map. I closed it up for All right, well here was our target right at 187 obviously we traded through that but that was the the target here for for Apple and If they continue to come in and you know hit the bid hard. We're looking at 186 50 down here is the next level Okay Anyway Yeah, we'll see if any any sort of like shenanigans start to pull up here But it's still looking pretty bearish here because we see high liquidity. They're jumping in see these guys jumping in higher here Okay, no, it's they're the sellers are taking them on right so if the sellers are taking them on here and trading through these areas They have a lot of selling pressure. So still, you know targeting targeting 186 50. That's what I'd be looking for Okay, based on what I see in the transactions Compared to what we see in the book. Okay, putting those two pieces together And reading it CVD well, I turned it off on purpose Jose because I don't want to make it too complex and understand all the different Indicators or add-ons that we have when we do have many that offer more Understanding correlations and Confluence at some of these areas in reading the order flow. Okay anyway, the Cumulative volume Delta very very simple indicator And not to get complex because we don't need to is all it does is take the aggressor If it's an aggressive market buy for a hundred shares your CVD lead or read is a hundred Okay. Now, let's say The next transaction that takes place is someone sells For 200 shares. Well, that's going to be a negative number And it's added to that first number and the overall Read then is negative 100 at that point for your CVD and that's how it works Okay, so it's just reading the the aggressor Okay, and you can see the aggressors who's clearly in control here, right? We know it's a seller Let's see here Is it possible to go over Delta ratio? aggressor buyer Yeah, I'm Caldron maybe maybe Maybe ask this in the webinar tomorrow if you like And I can go over the CVD and a little more It might be a more proper time to go over that Okay, if you don't mind All right guys, we're just hovering above and look at them starting to come into the book now Look at the buy interest. Okay. This was our target was 18650 they're coming right to it here. Okay, just like a magnet And but look at them starting to front run in here. So we're starting to find some buying interest, right? Hey, they're starting to absorb some of that selling pressure as well. Hey, the battle is not over yet. Okay, there they go, okay? into our our target here 18650 and Starting to trade through a little bit and see if we maybe You know, I haven't looked at any higher time frame analysis here whatsoever So, you know, I'm just looking at what I've showed you so far. I haven't been watching Apple all day at all but You know starting to get a little little curious now We've absorbed several times on the way down and if we exhaust maybe down here on that sell side Okay, and we start to find some buyers come in and then we can maybe even see It trade back up into some of these levels where it dropped from Okay Brett you're looking at SPY and see a nice rip to the downside. Okay Yeah, we can maybe take a look at that if you guys want Let me jump back and I want to show you guys As you get your questions in here How to how to get book map DX feed? Okay, it's pretty straightforward Your first your first step here is you're gonna need to go to book map calm And what you want to get is the book map seven and you want to get the global or the global plus Okay, so Click on at book map calm click on the packages. Okay, and then that'll bring you down to the Global and global plus versions here now. You can subscribe yearly or monthly. It's up to you But these are the two versions that you're gonna need if you want to trade from the chart You're gonna have to get the global plus version and this is what comes with all of the add-on indicators that I Didn't really talk about too much in this webinar All right. So anyway, select one of these and the next step is once you go through the payment process log back into book map calm Okay, and then click on this button over here on the left margin on add-ons Okay, once you click on add-ons take you to the third and final step here is You subscribe to the package you want for DX feed Okay, and there's three options available here one is for Nasdaq total depth Which is $69 a month and you can read it's as Nasdaq Total view last and last sale and it includes 24 hours of historical depth data, so When you subscribe to book map in the morning, you'll get up to a full day of data already loaded into the chart All right, so that's one option. You have another option here for edgex depth. Okay, that's that's bats or CBOE All right, same thing full depth 24 hours historical and it's 59 a month now We're offering a special right now And you can get a bundle of both of those together Okay, the calm the combo view for $59 a month for the first month. Okay after that though It's 119 for each month Okay, but this is all inclusive here and you get the the discount upfront so you might want to try that one see you know how how that compares with Maybe your your dome looking at equities and see if you like You know both of them edgex and Nasdaq and then it's up to you after that You know choose if you want to stick with the bundle bundle or if you want to jump into maybe one or the other here Okay All right any more questions Any questions about how to get this? Let's see here is one better than the other No, I mean, they're they're both Good they're both strong You know you're gonna You know it depends on the instrument, you know the stocks is a lot more complex than looking at a consolidated feed Or consolidated Book in the futures market. Hey the futures market. It really is centralized where the Stocks and there's many data providers or market makers. Okay, or liquidity providers, I should say And that's why Nasdaq total view is a combo right away So is edgex? But the two together you're just getting more and more data. Okay, so I hope that answers your question, Brett Let's see Caldoon How to demo trade on book map longer than two weeks monthly payments Yeah, I mean I would recommend going trying book map that there really is no trial So try it for a month at a low price and and see if that is something that works for you and and then yeah, just subscribe to the to the to the data here and probably best to go with that Consolidated feed that bundle for that first month and you should be pretty pretty well set up to see if this is something that works for you Okay All right, well, let me I want to jump over and show you something else as well So if you do have other questions We can take a look here Most of you guys probably came through this page to get into the webinar And you can scroll down here to get more information. There's a small video here as well a short video Get through some of the main features, but then the The Q&A is down here if you want to look at some of the you know the costs involved You know, etc. How to purchase and Yeah Anything here basically these are you know some of the the bigger questions that we have answered already for you But any specific questions is this is your time now Okay all right Well any questions on the I just wanted to deliver to you guys like the understanding here of The advantages that you're getting okay, so if you have any questions about this because basically you can subscribe now And you're gonna get it. You're gonna see it Okay, so you get it immediately And let's let's just jump back and take a look at our Apple example. Okay, we read this in real time Right, and we also started to read that this potential reversal was starting to take place, right? Okay, why why did I think that right? Well, we saw the absorption on the way down Okay, we're targeting these areas. They've been in the book a long time Well, they're gonna absorb a lot of that buying or selling pressure Hey, we actually came down a little bit further as you can see but now now you can see we traded into this area here And now they're starting to bid Bid up a little bit in some of these areas, right? They're even back in here at 186 50 Okay, now, I don't think it's a very strong reversal whatsoever Like I'm not seeing a lot of buyers come in here lift the offer and sweep that book hire with a lot of buying pressure And not at all, you know, so we're just getting kind of a pullback and a bounce Back to where we broke from over here in this area around this You know higher liquidity around this 186 75 area Okay, so maybe we'll see the sellers re-engage here now right around this point And I see them actually hit the bid down into this 186 40 Right, that's kind of what kind of what I'm looking for leaning to at this point Okay, but Yeah, we saw the easy moves take place. Just you know, they really broadcasted their Their targets to us now now we're seeing a little bit of back and forth here Okay, but Anyway, let's see more questions. If you buy the combo with the difference Will it give different levels then like Nasdaq No, I mean you're you're getting it from Nasdaq total view, which is a combo But if you get the combo with with edge X You're getting Nasdaq total view last sale and edge X altogether Okay, so more data more more information to draw knowledge from All right Okay, let's see. What is this CVP and SVP? Yeah, sure Very very easy very straightforward CVP stands for chart range volume profile SVP stands for session range volume profile. So the session range, this is all of the volume that I have here That has been Recorded at specific price levels for the entire session. I've had my book map open Okay, chart range volume profile is only the volume that I see within my viewable chart range here Okay, so I'm going to zoom into this little area right here Okay, and now you can see my chart range volume profile reflects the data. That's only within My chart range. Okay of the of the transactions that have taken place. Okay, only that All right, it looks like they're gonna hit the bid here looking for Yeah, this one No, no they're gonna shy away here. Okay Never mind right back into the range here Yeah, let's take a look at SPY, you know, SPY is an interesting one Brett Yeah, wow, it did it did sell off pretty nicely here It's an interesting one that look at the map. I mean look at the liquidity map. It looks a lot different, right? You don't see like these really big areas and targeted areas here in the book I mean if I zoom vertically, you'll see them at some of the you know higher price ranges as you can see at 273 and and 273 50. Okay, but what why what's going on here? Well, this this instrument is heavily hedged Okay, that's why This is why it looks so different. Okay, because you know, they're offsetting some positions with and providing high liquidity Areas very very close to current price Okay, if you if you went and looked at the the bonds for example It would look a lot like this as well Okay, or if you looked at Let's say during rollover in the futures markets And now you don't have to worry about rollover in in stocks, but What they're doing is they're rolling out of one contract month into the next Okay, and you'll see this kind of behavior here in the book Right so different markets, you know different Book and different behavior. Okay, so anyway still a lots can be gained from this area In the book or in this view You know like look at them. I mean it's battling it here, but looks like the We found a lot of sellers up in these areas in the book Okay, so let's let's take a look here at maybe the book skew Yeah, I mean they're still pressing down here on that on that sell side How do you add a CVP, okay, that's easy just right-click here Insert a column Okay, and then right-click and and then change it to volume Okay, and then chart range. Okay, select chart range here as well as volume. Wow. Nice Brett. Okay So you just pulled 60% Geez Yeah Yeah, I mean, um, no, I mean I know a lot of a lot of traders that they look at the SPY and You know, they're so accustomed to it. They understand it like, you know, look at the you know the buy side now is starting So pretty pretty strong Right, so they're supporting it here on that buy side Okay, are we finding sellers? Well Maybe if yeah, we're finding a few like you know back and forth here Okay Anyway, here's here's where the buyers really stepped in on the auction here And they are still supporting it above at this 71 50 level or so All right, so if we can get a few more buyers to step in up at these areas here Then then you might be able to Lift that offer up into a higher area. Okay. I mean this is pretty steep pullback, right? So maybe it's not justified. We may see a pullback To this area here, which is around this 71 90 or so, let's say. All right, let's jump back to our Apple and see what's happening here Not too much not too much Yeah, yeah, it was was kind of convoluted at this point here We now now we're getting a lot more insight. We see that one 86 50 showing quite a bit more And here they are up on the on the offer at 186 80 I don't know three or four or something like that Okay, just kind of channeling right now between these two areas of high liquidity All right guys. Well, if there's no more questions, then let's let's wrap it up And hope that I've demonstrated for you This competitive advantage just alone just end here with the advantage of seeing full depth of market is is something I think immediately you'll be able to Use use to to an advantage Just being able to understand where that high liquidity is especially here using equities Because they really stick out And you can really start to understand the targets of where the market can trade Okay, so anyway, I'll leave you with that and if you are interested in and purchasing and you want to go through this you can always reach out to us At support at book map comm or feel free to reach me as well at Bruce at book map comm and And happy to help you out here. Okay. Oh, thanks. Thanks guys. I really appreciate the comments really nice comments here Really good to hear just Yeah, you know think that this is quite quite an amazing thing to be able to see and Use to your advantage and profit from it. Okay. All right guys. Have a good day and we'll catch up with you the next time Take care