 Good morning traders. This is Bruce at Vloxpro. If you can hear me and see my screen just type yes into questions and We'll get started Alright, thank you. Good morning everybody all right, so See quite a few people in here this morning, so just want to know get get a feel for anyone new New new traders out there in the room here. Let me know Okay. Yeah. See you already a few of you guys. Okay. Good Well, welcome. We're gonna go through the basics and book map and we're gonna go through the live order flow and And show you what book map is showing you and then how to start to understand it and Integrate it into your trading. Okay So let's start off with the risk disclaimer here trading futures and Equities involves substantial risk of loss and it's not suitable for all investors past performance is not indicative of future results Book map.com. Let me show you This is where you can find book map for more information and you can become a member here in the members portal And when you become a member you'll have access to free resources so let's click on explore and Come down into book map and then click on pricing here And this is where you can find book map. Okay, so I Let you guys read the basics, but you can see two different versions of book map Now these two versions over here. They just include the DX feed. It's the access for us equities We're not a data provider, but we have a partnership deal With DX feed to provide you NASDAQ total view and you can see the price differences there now the Nice thing for for you new guys You get a 14-day trial period here with book map. Okay, it's free Give it a shot attend these webinars ask questions access a lot of the educational resources and You should be up and running pretty quickly in book map. Okay, let me just show you quickly the user portal here Okay, there's under features. There's videos for getting started Understanding book map. There's educational videos here. You can also follow us on Twitter and then you can also Subscribe to our YouTube channel and let me just show you the playlist here. So go to our YouTube channel and go to playlists Okay, all the recorded webinars are here now. Unfortunately last Friday's recording did not work. So Apologize for that. We don't have a recording from Friday's Okay, then Here is the new educational course from book map. There's parts one through four They're about an hour each if you want to understand some of the phenomena in book map and how to put this together into a trading plan so That is there's that And understanding those markets features and components here for the new guys I would recommend watching some of these and understand what what it is. You're looking at in book map and then The order flow video snippets. These are very concise usually about three minutes long Each that go over a lot of the phenomena that we see in book map. So these can be very helpful They're very quick We go over them in detail here during the webinars. All right. Well, let's just jump right in and look at book map Okay, and Let's see. I'm going to Go over What it is you're actually looking at here in book map. Okay, we're gonna start with this candlestick chart It is a five-minute candlestick chart or Yeah, that's correct and And So most of us understand a candlestick chart. We're very familiar So you can see that, you know, open high low close and you see the wicks you see the body though is the The open and the close and the wicks are the extent that price went to so you can start to gauge some of the pressure and order flow However, there's a problem here. There's so much data that you're just not viewing in a candlestick chart Okay Number one is is volume. Okay, so what we do have a volume sub chart here in book map So you can see the and most people do so what you can see The volume on some of these candles where they occurred We're already getting a lot more insight just with a sub chart here due to the volume. However, we have a no idea Big big problems here with the sub chart. We have no idea what type of volume it is Was it aggressor buy or aggressor sell? We also don't know where this took place within this five minute period and We don't know how much. I mean you have how much here in the total of the five minute period But you don't know exactly where and how much Okay, so some of the details in the volume which are just critical are not within the candlestick chart okay, so Let's just start to add layers of information here to the chart Okay, and I'm gonna first just Input the best bid and offer. Okay, so now all I've added here to this candlestick chart is the historical best bid and offer okay, so The the green line is the historical best bid and the red line is the historical best offer Now you can see the current Market right here the the dashed green and red green is the best bid and red is the Best offer last traded volume is this little number right here. Okay, that takes place on the on the bid or the offer Okay, so that's all I've added into this candlestick chart, but just this alone is already helpful All right, I mean we can see the speed at which some of this price action is moving we can start to understand where the volume might have occurred within some of these candlesticks, but That that alone is already starting to break open that that time frame and helpful, but Let's add on the volume dots Okay Okay, now we're getting a lot more information. We're really starting to understand the order flow All right, and let me zoom into this little area right here because it's kind of a swing low And we'll zoom in and let me show you what you're looking at Okay, so within this five minute period here you can see how bookmap solves that issue With the volume you can see exactly where it traded. Okay, we have so much more information here the candlestick is We had a low test here many times and then that broke by a tick And and went down lower Okay, and then that failed and we went right back up. Okay that retest here You would not see in the I mean you would see price dip on that candle, but then that that information is lost Okay, this is captured now here in bookmap. Okay, and any of you out there that are trading footprint charts you want to just let me let me know because You're gonna see all of this volume data here In a footprint chart However, the details are going to be lost. Okay, because a lot of most of the footprint charts are either time-based or some candlestick rotation base So they aggregate the data Okay, that's a problem with the those those charts That data aggregation It loses the detail So here you can see that that problem is solved Okay, because for example this little swing low and then you can see we are we are exhausting out here You probably even lose that data. Well, you wouldn't in the footprint chart at this point here You would not see the exhaustion And but then that would be gone and you wouldn't see it here Right because this data can't comes in and aggregates and fills in the the information here Okay, but you would see of course the swing low and the the Exhaustion now it's not complete exhaustion, but look at the selling down here very little Okay, so I better explain the dots and what we're showing in book map So let me quickly do that and with a very simple example You can see the historical best bid is the green line and the best offer is the red now a red dot That is painted here in book map when an aggressor Hits the market sell button. So that's the type of volume we're displaying is the aggressor classification They are market sells and market buys Because they wanted to pay up. They were aggressive They they paid for the spread and crossed it and they took liquidity off of the best best bid Okay, green line green dot is a market buy. Okay, same same story right, so Now we've captured this data here and you can see the dots But if I hover over this click on the hand tool and hover over this area and I zoom in Okay, and we're gonna pull apart every single transaction that took place there Okay, so book map is capturing every single market event that unfolded here Okay, if you look down here at the timeline You can see that we're down at microsecond level Okay, now this is excellent for those of you who are Trading algorithmically and you want to understand some of this behavior and how your algorithm is Performing within this environment. Okay, because it's gonna you can record your trades here in book map And you're gonna see everything All right, but that's actually originally why book map was developed by us to test algos and we thought that this was a good idea for a Product okay, so now Let's take a look at this you can clearly see look at how mechanical This selling was here and look at the time and the spacing All right, this is clearly algorithmic activity All right, so we can identify and we can start to now no one trades off of you know Human a human does not trade off of microsecond levels So if we start to zoom out though notice how the volume dot is still giving you is giving you all that granularity and detail of what occurred in this area here, but it's also showing you the aggregation of it just graphically or visually and We can also understand each let me zoom back in and do this again because What I want to show you is that the rollover tool so graphically we're displaying all this information But you can see exactly with using the data tip tool here We get the date the time What was on the bid at this price level and the volume at that very specific? Microsecond time okay, that's on the second line there at the time Okay, so this was for a volume of one So now you can understand you can see how this market unfolded here with the algorithmic activity They hit the bid pretty hard here at that very moment, but with small size Okay, but that this all adds up and it's all captured here in book map, okay And now as I zoom out though, let me show you this okay, so this dot is is Graphically aggregating that information and if I hover over this dot now it tells me exactly what that volume was Okay, it's not one it was a hundred and one right, so instead of You know you would have seen a flurry of activity go through your time in sales of like one and two lots Instead we're graphically showing you the the the granularity in the detail, but you're also seeing the The overall picture now here to graphically Okay, now so many trades occur so quickly that we don't have enough space within a specific Zoom to show you all that all that buying and selling so what we do is we will Give you the overall in the pie shaped dot here, and so you can see many of these pie pie shaped dots and They have both buying and selling in it, but you get the overall understanding of that behavior by the Just the the graphics here looking at the pie so you know that more than three quarters of this information here was aggressive buying All right, so now you can also see the granularity how these mark is actually unfolded and You're not going to see that Within traditional footprint charts Okay Okay Right sound check is can everyone hear me? You just type a yes, no Yes, some can some can't Okay Okay, no, it's it's working. Oh, okay. All right. No, everything's good. All right, so All right, so let's see Digby you should log out and log back in so anyway That's the the details here and the volume and now you have much more transparency into what's going on and where Transactions actually occurred in bookmap Now and that's good There's a whole other side to the market though that we want to cover And that is the the auction part Okay, the bidding and the offering and that occurs outside of this chart that none of none of the none of the information here yet In this chart is displaying that information and that information is traditionally shown in a dome Okay, so the bookmap columns over here. This is the dome and The Cob column it stands for current order book and we can see Exactly what is on the best bidder offer. Let's go back to that current market Okay, so these numbers change all day long as we know You know more bidders or sellers They come into the market and and these price levels here are where they're willing to deal And we can see the liquidity at these price levels. Okay, and between these two white lines That is the current book. Okay, so here's your best bid and offer and here's your depth on the bid Here's your depth on the offer Okay, now we know that these numbers change all day long and it's kind of difficult to read these and But we're looking for areas of high liquidity. Okay, and we can see the highest in the book is down here And we have a column to the right of it. That's the same Cob column But if you right-click in this column and format it you can choose bars bars and numbers or numbers only Okay, so I'm displaying this one as bars only and this one as numbers only So I also know immediately by the bars the graphical representation of this liquidity at this 63 level All right, so a dome is where we get our information on the auction process typically Okay, for most of us out there that's been the method was to be able to read the dome now reading the dome It can be very tedious especially understanding levels of liquidity how they behave how they Others start to join in or pull What about the areas around it? And then what about the other side on the offer and how might they behaving at the same moment? That's a lot of information to to understand. Okay, the problem with the dome is you don't I mean You get that for a moment and you'd hit that you'd have to record mentally all of that information and maybe you'll remember You know, maybe they were bidding here at 64 Maybe you'll remember some minutes ago, but what about an hour ago? Are you gonna remember that that this the problem here with this dome is all of that is fleeting? It's it's it's only showing here for the moment. It is the current book Okay, and that's the problem here All right, so now let me turn that on in book map and Here we now we can see That behavior and let's just start with this window here Okay This is a graph. This is the current market window to the right of this vertical white line And we can see the liquidity here. Okay, it's it's represented as a heat map of the numeric values here Okay, so in fact, let me adjust it a bit more Okay, so we can see very quickly areas of high liquidity. They're very bright. Okay In fact, there's a cutoff here that we can adjust Because that that 27 is a lot 2700. So if we adjust that white Cutoff you can see now we have a better representation of it. Okay All right Okay, and so that's the current market window and you'll see the Heat map will change to reflect the changes within the numeric values Okay, now that problem of trying to remember that current market state Is solved here in book map because we transpose all of that history onto the chart Okay, so now You can see where they were bidding where they were offering previously or if we start to zoom out We can see every single Auction And the history of it Where they were interested previously how many how much liquidity where was it? What about ticks or you know above it or below it? Did they pull all of these questions can now be answered here emphatically? Using book map. Okay, so let's zoom into this little area here because We see some transactions that occurred and some pretty high liquidity here at 64. Okay, and that was just some minutes ago Okay, as I start to zoom in And let me adjust the heat map again All right Okay, so now we're starting to see the full picture. Okay at this granular level again We have high liquidity here But look how they're pulling the last minute Okay So in this auction and think of it like an auction we're starting to understand This dome information exactly what's occurring. Okay, how they behaved at this price level now historically as well And you can see that they weren't very interested. We see them hit the bid here pretty hard with aggressive volume But they were the liquidity here was that high liquidity with these 1650 contracts previously Is turned into 1500 and then they pulled it and now we're down to 800 and then the selling occurred okay, so pulling that liquidity and Then there's something interesting here Okay, high liquidity very aggressive 1700 contracts on the offer very aggressive because it's just one take away Okay, and and this is more like a spoof It's behaving like a spoof Because they're pulling high liquidity here. They're hitting the bid here and then they come in with high liquidity here To skew that auction Okay showing massive supply very quickly on the offer Okay, and trying to drive price probably down into that 63 level here with those 2700 contracts. Okay. Yep. That was not successful right, I mean You know looks like they got their they got them selling here But they weren't able to get it any lower than here and then maybe gave up here and started to aggressively this little offer Okay, or maybe we're gonna come back and work this area again Okay, now we know how that behaved there previously though and This is allowing you a lot more transparency into this market All right, okay So that's that's book map And now let's start to to read this and we've already started reading it And let's put this into some more context. Okay, we've already started doing that process too. Okay, so we can see that We're still kind of around this area here and We were starting to understand this auction Okay, they're not so interested at 64, but they are they are down here still okay And now look at the behavior one tick ahead of it Okay, we're starting to understand this area a little bit better now Okay, so you can see that they're adding liquidity here note these striations In the heat map is showing it's getting brighter So that's showing more interest at this area one tick above that high liquidity So that's potential front running of this high liquidity Okay, now if they're really interested in buying The behavior we're gonna see now look at how they're layering in here with high liquidity Okay, a larger player is layering in their limit orders. All right So where can the market trade here? Okay a question to you Where where well, what does the market need to trade anyone on that? Yeah, that's that's right liquidity. Yeah, so so, you know, I'm expecting or anticipating This liquidity you get tested Okay, and here we're coming down to it now right and They're layering in with liquidity and how are they behaving around these areas start to answer these questions Because now we're putting the all of these pieces together and we're starting to Anticipate the market trading down into some of this high liquidity Okay, because if it wants to trade this is where it needs to go Right, and we can see where the transaction is taking place and what type of transactions are they? Okay, we can start to see this is a lot of selling Okay, so we have more selling at the lows here. Okay, here come some buyers now But Yeah, okay, so quite a bit of buying just came in let's uh now I it may it starts to Make me ask a question here about what's occurring at this area. Okay, so we see the transactions So maybe these guys are getting their fill and maybe they're getting impatient In their layering the larger players here Okay, so maybe they're going to start aggressively buying instead Okay, and they're going to give up on the waiting for this to occur or maybe we'll see a little bit of both Some aggressive buying some spoofing pushing into some of these areas here Or or here maybe maybe we're gonna they're starting to bit it up a little bit. Okay become a little more aggressive Okay, and then aggressive buying here We'll watch we'll wait and see how this unfolds here but The question that it makes me ask is are there iceberg orders in this area? Are they still getting filled? The way that they want before getting into this area. Okay, so we have an add-on indicator for that Okay, and let's switch on the indicators okay, and No, not really. I see only four here Okay Okay, so this number here this 302 is showing the icebergs The hidden orders that occurred at this area And a hidden order does anyone have any questions on that what an iceberg is or hidden order? Okay? Because the Well, let me let me let me describe it so What this number represents is contracts that actually traded They actually transacted But there were these 302 contracts More than what was on the offer at that moment traded So that's an impossible situation. You can't trade more than what is offered and But you can if they're hidden okay, so our Algorithm can identify that and then display it as a number. Okay, so there are Larger players usually use the iceberg order because they do not want That liquidity that they show in the book to scare the market to skew the auction Okay, that's spoofing type of activity that we witnessed earlier It was back. Oh God, where was it? Um? Let me take the candlesticks off here now So back in this area here. Anyway, what we were witnessing earlier. Oh, no is here. Yeah right okay, um Well, we see 190 here. Okay, 216 here But then 1200 here. Okay. Wow. All right, so Really, I think we're they're still trying to push down down to the downside on the overall here all right anyway the Hidden hidden order That'll capture that that that difference. All right, and Now we're putting, you know, all these pieces together and starting to understand what book map Which is just the market I mean what the what the volume the traded volume how it's behaving where it's taking place the type of aggressor and All of that within the auction process Within the historical limit order book we see the current limit order book here. Okay, but that problem is solved with the heat map by Historically Charting it and recording it and understanding these areas a lot better Okay Any questions on that? All right, there's a lot of traders in here today. So welcome but it just want to Go through for the new traders go through some of the basics And then now we can start to get into much more advanced about The order flow and what's going on here. Okay, so now I'm seeing a kind of a flip than this order flow here Where we're seeing, you know more volume starting to trade up in the higher areas. Okay, so this this maybe maybe this is starting to signal kind of Certainly a slowing down And we can see it's already slowed down here just by the way that you know the markets kind of sideways But a slant to the downside Okay, but this is a distinction here Okay, we see exhaustion and some of these like little lower highs here. Okay points of exhaustion Right, not a lot of volume. There's there's some that volume have traded here But in general and look at this area here There's there's really no or lack of buying interest up in these areas and all of the interest has been on the lower lows and More selling Okay. All right, so usually and that's very indicative of a trending environment And I'll just want to You can draw on the book map chart here using the drawing tools And I just want to outline a few a few different areas here So you can see the channel here Okay, and you can see it coming into the higher liquidity area Okay, but we did I was looking for that flush I was I was looking for that flush to the downside through or into some of that high liquidity and then for those guys to they'd have their fill and then Look for them to lift the offer pretty aggressively after that anyway That is that scenario didn't didn't really unfold at all I mean we see just the a tick or two below 64 here And and very little selling. Okay. Now, it's we're seeing this kind of structure broken We're starting to see more volume trade at a higher area Okay, so we need to keep an eye on it Let's look zoom in a little bit more and get a feel for what's the book telling us Okay, they're starting to bid up a bit as you can see in some of these areas But then they pull okay, so You know, it's not a little aggressive here. Maybe back at 64, but they were here earlier All right, if they're really interested in buying though, they're gonna start to show liquidity at these higher areas here And so let's see we have FOMC on Wednesday last couple of weeks. We haven't had a lot of data this week is well, that's the big big event but You know usually you see kind of You know some sideways action before bigger bigger news events and kind of quiet before the storm Sometimes sometimes you don't sometimes you'll see them anticipate already that activity and Then basically after the event you'll see a sell-off if it's good news, but All right, just Yeah, trying to hear that so what do we see at the moment? Okay, I mean we have our structure broken here. Okay, we have volume trading above it and it's now becoming significant All right, so you know But I see nothing else right now You know, it's the if the Aggressive buyers if they want to want to lift the offer they can hear very easily And all of these sellers down here who were who were Buying the the breakdown they're going to be trapped and they're going to be covering and probably you know look for maybe around this 67 area or above 67 and a half to Start to get filled now one of the things that you can use book map for To help with that is starting to look where some of the larger traders are also starting to target They'll put their targets in Beforehand because they will have their place in line So they'll hold it oh Boy are some issues with my data here. Okay, so Hmm. All right. Well, let me I'll just end on this note. We've already gone for about 35 minutes and Starting to cover Using book map within the heat map for your trade management. Okay, because we have all the data here right, so look for large liquidity to start to On the offer here in and see if maybe they'll be targeting some of these areas up here Okay, and you'll see it if it comes into the book right and then If we see that then look for maybe some of this kind of aggressive Orders on the bid side, maybe some aggressive buys at the same moment and we'll charge right up into those areas Okay, so You know now there now there's different ways to Start to understand The the liquidity within the book and the historical liquidity as well All right. Any questions? Anything in any details we covered quite a bit. I mean there's it's pretty lackluster data here today or You know market action here. I Mean, you know, we've only gone like you know for the day like I think we're you know Some were baton between four and five points. So not not a lot of activity here and It's gonna be slow. I think in it's summer as well, but I'm waiting for that FOMC. Okay, or geopolitical events and Market will be certainly watching those Okay One more thing here and on some of the columns here a lot of traders like to trade from the dome. So we have our volume columns and You can see there's SVP, which is the session range volume profile CVP is A chart range volume profile and I have it split out here Okay, you can either have it as a profile as you can see here or you can split that data out So just right-click and then you choose format Okay, where you can see here this one we have volume chosen here. This is your data type Okay, there are many different data types to look at here in book map And you can open up many columns by inserting a new column Or you can retract those columns by hiding it Okay, once you Select your your data type for volume here. I have some other options I can use a chart range or a session range Okay, and then I can format that column too So let's choose format and you can see I have it as bars and numbers Okay, and I split the data out here Okay, you can have it as a profile if you don't want it split or you can split it out because we have the aggressor classification okay, so a Lot of traders like this view. They want to see the book versus how much volume is trading okay, and So now you have it. Okay. In fact, we can reset that there's a reset option here And we can configure it you can reset now you can have it reset on a double-click Okay, so let me show you what that looks like There you go And then let's bring that back now to a All our data. Okay, or you can schedule resets as well Okay, you can have one every certain amount of hours minutes or seconds or a specific time of day So like 930 Eastern time cash open Okay, and there's a conditional reset here. This is a new feature in 6.0 That if you're very closely watching, you know every single tick and A price moves out of an area and then moves back in well, you don't want it to reset Because it just was outside of that area for a quick test in this right back in The conditional reset if it stays outside of that area for a specific amount of time on milliseconds You know you could be could be one second to an half seconds or five seconds and It stays outside of there, then it will reset right Else if it goes back in It will not reset your data Okay, so you still retain it All right guys if there's any questions let me know and Actually one more thing I want to cover here And that is since we have some new traders in here, you know, we are our initial offer here You know with DX feed through, you know our partnership We want to know about other equity traders here and which broker you'd like to use. Okay, so I'm gonna launch this poll Can you guys see that and if you can Let us know what what broker you're you're using here or prefer. Okay out of trade station thinkorswim or interactive brokers Yeah, this will really help us out and it'll help you out. I mean It's up to you We need to Connect to more data providers for equities So yeah, help us out here. Oh, yeah, this was our original Kind of spoofing activity. I think here Okay, just get a few more of you guys if you could Cast your vote there for either trade station thinkorswim or interactive brokers Hey, I mean it's been a big battle between these three here. So let us know All right guys. Well, let's Let's wrap it up. Let's call it a day and we'll continue tomorrow and Hopefully have a little more activity to take a look at here and cover some more phenomena here in bookmap. All right All right guys. Yeah, thanks, and we will catch up with you tomorrow. Have a good day