 Good morning traders and welcome to the bookmap pro trader webinar today Wednesday and This is free and open to all. This is part of the You know the pro trader series we do every quarter today. We have raggy Horner We've had her a couple times before futures trader Options trader also stocks raggy. Is that correct? Yeah. Yeah a little bit a little bit of everything and And Yeah, so very happy to have her a little bio here Raggy actually started trading at the age of 15 and a half. So this is actually incorrect While still in high school She has a passion for communicating and the message of the markets as well as teaching traders How to find an edge in currency and futures markets? She has three books published by Wiley and Sons Countless speaking events seminars chief currency analysis analysts at IV FX Which has been bought out by FXCM and Trips across the globe raggy shares all she does and has learned at simpler Currencies comm is that that's correct, right? Simple features actually now, but we still have a currency side, but simpler futures if you ask for a simpler trading in the contact information That's perfect Okay, so here is her contact information if you guys are interested in reaching out to her I will be putting this periodically into the chat So that you can very easily reach out to her I need to go over the risk disclosures here and then I'll we'll just turn it right over to raggy general disclosure all bookmap limited materials information and presentations are for educational purposes only and Should not be considered specific investment advice nor recommendations live trading is in simulation Demo paper trading mode and strictly for educational purposes live trading executed in simulation can Cannot accurately represent realistic trading performances risk disclosure trading futures equities and digital currencies Involves substantial risk of loss and is not suitable for all investors an investor could potentially lose all or more than the initial investment Risk capital is money that can be lost without jeopardizing once financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading past performance is not necessarily indicative of future results Raggy, you're not going to go over any any automated trading strategies. Are you? No, I'm too much of a control freak Excellent, otherwise I would have to read out the the hypothetical form is disclosure I'll turn it right over to you raggy. Thank you very much for being here. No, I'm very excited to be here. Thank you gang Let me get my Screen going here, which is always a little bit of a challenge, but let's see here Six no It's gonna find which one of the nine is the one that you guys will see Let's see I Think that is it I see hold on a minute No, I see 4x factory there Yeah, I'm gonna start with the calendar. That's the one. Okay, great. That's it. Excellent All right, so you got all I see is a big old picture of my head. So hopefully you guys can see All right, so let's get to it gang So I'm gonna kick off this session because what I really wanted to do and again big things to bookmap for those of you that aren't Familiar with what I do a book map. I actually purchased book map years ago and I guess it's been about two years now, maybe a little bit longer and so It became and a confirmation of levels that I knew were relevant Which is what we do and what you guys know is important Which is why you've started to incorporate book map into what you do If you know that price alone only tells a quarter of the story We know that price and I'm gonna I'm gonna share these notes with you guys a little bit later, but there's there's four factors And I'm gonna use this little note here on the side So there's four factors for for analysis that I believe in Price is what everyone uses, but then they stop there So kudos to then take the next step which to me is then volume. What is volume? It's conviction It's participation. It's attention. It's commitment, right? So then we know we get to that volume I also looked at time, which is why we're looking at the economic calendar right now and then finally Volatility, and I'll show you how I measure that as well. So there's four factors for all analysis. I think it's even more Intensely important when we're day trading. So we're gonna start this off with the Calendar today. We just happened to be on day two of Humphrey Hawkins testimony from Jerome Powell It started. I don't know if he's actually started yet. I probably should turn the television on This is a time-based Volatility event. Yes, most of what we need to know exists on the charts, but there is a good part of psychology that exists on the On basically the sort of news or the events of the day that are gonna be taking our attention One of the things that a lot of folks talked about yesterday if you watched yesterday's action Boy was bookmap lit up like a Christmas tree. It was amazing In a lot of ways yesterday would have been anything and I don't know who was speaking yesterday But I'm sure you guys saw it as bookmap users, which is as a market was selling off You could see there was just nothing to catch it. No real size. No real bids It was a hot knife through butter. You can visualize that so much better than someone and let me just go to the map here You could just visualize that so much better than someone who did not have the understanding of the support levels that the market could bounce from and Yesterday was all about Jerome Powell. So when the market started to sell off, we knew there's a volatility event It was really interesting. Now when the market midday Started to find some support you could see the bubbles You could see the levels show that we were at a decision point Not that we knew directionally that we were going to keep going lower or higher But you knew there were decisions being made and if you're a momentum trader You saw when we started breaking through some key thresholds. So one of the things you'll probably find It's a little unorthodox, although I don't know How everyone uses it clearly, but a little unorthodox is I do like to from time to time really scrunch my bookmap up I won't always be looking at it like this unless I really need to see a little bit more nuance this view will come into play when I know I want to see more nuance in the Action another thing that I like to do sometimes and I don't have this overlaid because for our presentation here I decided so we'd all be on the same page. I just set my book map back to default Charting so you guys could see just a default setting and then if you wanted to add different layers I think the default setting is a great place to start I think a lot of times when people are new to book map. I know I did this I started getting too granular about all the different levers and dials I could twist And I think spend a good two weeks in that default view before you start adding on any of the amazing Tweaks you can make within the settings. All right, so I figured I'd go back on here to this really good basic Level now. I don't live in the book map, right? So I think a lot of times people get a little intimidated and they'll they'll sometimes lose Out on what this could do to their trading because they just figure well, I'll just look at book map I won't look at anything else and They're trying to retrain their eyes and their and their in their process with a very different visual So what I recommend to most folks Is a combination so I'm going to toggle between different platforms where we have that more Traditional charting which again, I think is very one-dimensional Book map is multi-dimensional. We talked about those multiple factors Price volume time volatility My price my volume my time I can take care with with a look at book map. So what I'm going to do is show you my charts is some traditional charts and there's nothing super fancy here gang What I'm doing is I'm looking at some one-minute candlesticks. I have a Color-coded candle that I call grab completely free after free You can find that on any number of platforms and it colors the candles according to where we are in relation to the 34 Exponential moving average on the high the the close and the low So right now I can see we have a little bit of bearishness on the SMP But I also know that we're near this low right in here from 937 And this area here is a volatility projected low now. That's just historical Volatility, so I hope what you're seeing is wait a minute, Rob You're telling me you've got some lows you're coming up into and then that's when I'm going to start to look at What book map is telling me because my charts can't tell me Where that size is waiting. So another aspect to this is we all have You know sort of more traditional, you know, there's traditional ways of looking at candlesticks So you can look at a traditional candlestick interpretation Maybe patterns support resistance You can you know overbought oversold Even our indicators. I will confirm. I don't want to use that. I don't I think a lot of times people think they have to completely abandon Processes that they were starting to get some Positive results from and they just abandoned it because now they're on book map And that may not be everybody What I highly recommend is if you had a process you liked and levels that you knew just need a little bit of tweaking Start with that start with what I think is probably one of the most powerful Confirmational tools out there, which is the book map start with identifying things that you're probably already comfortable with identifying Maybe use a stochastic. Maybe use an MACD for momentum Maybe use some moving average or moving average crosses. Maybe you're using time-based clearing ranges or initial balance Breaches things like that pretty pretty common place in the day-training world What's not commonplace though is then being able to say well if I think the area between about 38 53 and a half and 3847 3848 Could be a layer of support. I don't know what's waiting there when I look at a traditional chart Bam, that's what I'll switch gears and as we close in on those levels I want to see if in real time I'm starting to get the participation at those levels It would give me confidence to be a fade buyer. All right. I know I've just thrown a lot at you in about Seven eight minutes here So let me take a look at any of the questions that you guys might have and I'll just sort of keep notes I and so what I'm trying to tell you is I confirm all of that with the book map View of it's the way I look at it participation. What are we seeing on book map? We're not seeing other places participation size again Most people stop at price. You're now taking two factors three if you're looking at time and you're looking at those three factors price without Volume to me is an incomplete picture and you guys know I don't care how much volume really occurred at a certain time What are we able to see and I'm telling you after three decades and then you know this? I'm not telling you anything. You don't know You're looking at volume based on price And I know that's rudimentary for some of you and for others you're thinking. Oh, that's that's the needle mover That's the difference maker. So yes What I'm doing is I don't care how much volume happened between 943 and 944 not really what I care is How much volume was sitting at? 3855 how much volume is sitting at? 3865 if I'm going to get a breakout so let's say let me get my drawing tool on the I think this should Allow you guys to see a little bit more of what I'd like to see for a setup So I've got this layer in here, right and this might additionally be where I could see an MACD Breakout, right? Well, this is what I can't see on a price chart not in the same way as I'm seeing at book map So I know that if I'm going to get some sort of breakout and it looks like it would be Potentially through the point of control. So you're already familiar with things like points of control where the most volume has occurred Between a certain segment of time that white line there represents the most volume I've seen since 930 and you can put that on your book map. So I get a little bit of redundancy there Notice how as we're breaking through it. Do you see how I'm looking at a That layer B. What are the what are the what are our side? What size telling us now? These are tiny tiny participation Bubbles, are they? This is what I want to see I want to see and I don't I'm not surprised to see size built here because this is where the market stopped before So what I'll say is it are we responding with the right type of bubble at that level? I like to see the big bubble at that level Volume attention conviction commitment. And so that's that breakout level that I was talking about So we go back on over here. What I'd like to see is either a positive MACD if you want another kind of confirmation By the way, the reality of if you're you know, you watch this live with me or whether you catch this on replay The reality is it's 16 minutes after 10 and we're waiting for Powell day two of Humphrey Hawkins testimony. So I think technicals are Really not necessarily Ideal I don't consider book map a technical and I don't hold Technical in like this irreverence. It's I hold it in high regard But a lot of people are just blind to technicals and they're not thinking about price and volume So I like tools that measure volume. That's why This kind of confirmation Is so important to me and MACD is just arithmetic Around open high low close most indicators that traders use before they start to understand the importance of volume It's just, you know, number crunching the high low close, which is fine We're then taking that step that most traders do not and we're confirming that with size So I hope that makes sense. Let me um, let me tackle a few questions here because I would love for this to be As interactive as possible. I'm live trading. Uh, again, I'm not here to tell you what to do how to do it Bruce gave you guys all the disclaimers Just Look at what I think look at how I'm walking you guys through it and I love that we're doing this after the clearing range So this is when I get to work on the day after the clearing range means After the first 30 minutes after the belt So I like to see the market And what else am I able to see between 9 30 and 10 on book map? One of the reasons I like to keep this View until I'm really willing and ready to get to work is I want to see What the ranges were between 9 30 and 10 Where was the market able to run up to and run it into resistance? Where was the market able to run down to and and find support? That's your clearing range That will be and you can see it overhead. I've already taken one breach By what does that mean? I have this overhead resistance. I'm looking for the market to take it out to the upside What's the next level that I'm going to be looking at if we get a clearing range breach? You can see it right in front of you. Let me highlight it here right here Oh, let me make that a little bit bigger or a different color. That's kind of hard to see Let's make it in white right here And right here, and I'll make that a little bit bigger. Sorry about that gang Let's get these drawing tools visible Bam right bam said the lady that is what I'm looking for So I already have levels that I'm waiting for I know and this is a little bit different. I'm not letting book map or even price tell me what to do I know what I want to do because volume has told me. Well, these are interesting breach levels. That's my pitch That's my pitch now. I'm just waiting for my pitch and when it starts to get closer and closer What do I want to see again? That's when you'll see me do this And I want to see the way that we get up there and the type of bubbles we get when we do All right, so that's that's going to give you my game plan. I've already long I want a clearing range breach now I want to see this market take out a the clearing range high because if we're going to grind higher On the fuel of Jerome Powell who yesterday by the way said hey the u.s economy is nowhere near The 2 percent inflation target, which means we're probably not going to see the federal reserve rush To a tightening cycle or a taper which is something that stocks or stonks Are mortified of if you wonder why this market sold off It's because fed fund futures started to to insinuate that maybe a september december hike Was possible bond market a long bond 30 years started to say look the feds losing control of the longer end of the yield curve And and powell basically came in and said oh bond market. Oh fed funds. You guys forget I've got the biggest bazooka of all I've got monetary policy and I can print for as much as The global economic system will let me because the u.s. Dollar is the reserve currency. That's the macro backdrop That's also the drama playing out in front of us on television now so we're going to have a very tricky day because Every little thing that the federal reserve says every question that's given to him Is going to make the market start to respond to oh is this Dovish is this hawkish is this bullish for stocks? Is it not? Okay, so that's a little backdrop to what we're dealing with right now. This is not a normal day In any way so again until i'm at a level That I want to do something With and by the way, if you're a super active day trader all my cards in the table You're probably not going to like the way I trade and that's okay Um, it's totally fine Everyone's got a different approach if you'd like if you're one of those people that's going to have 20 30 round trips before noon You're you're going to you're going to find what I do slower than molasses like watching paint dry I like to pick a spot Find that pitch and then get in so if I have 4 to 6 trades by 11 30 noon eastern that's a pretty full day for me So realize the way that i'm setting up Trades does have a certain pace and it's on the slower end I will also say that if you keep your book map zoomed in I think you're going to tend to want to over trade So so be cautious about that if you like scalps, then fantastic nothing's going to give you more insight I'm just not a scalper. So I think it's my responsibility to let you know gosh if I wanted to learn how to scalp Probably not the person I want to listen to right so um Let's see first question. Hey there dan Uh, you know people always ask me about dark pools and things like that I'll tell you what I've read a lot of books about it. I don't find and Look, I traded through the system's uh volume of of the you know late 80s early 90s And then of course, you know the algos and the high frequency and everything else I have not found that what i'm sharing with you now Works any differently or works any less Than before I mean our dark pools a factor. Of course, I'm not going to tell you they're not but I don't find because all I can tell you is what I have found through the interpretation of Different volume tools and I've used a lot of them book maps the one that runs on my computer Like I said, I was a I was a customer a paying customer at that long before Bruce and I got to talking All right, so what I need to know is I can trust my tool and I get it right do I think that I trust what I'm seeing volume wise any less. I don't because I haven't seen my results Diminish With what I'm doing remember I'm already identifying price based levels and then I'm asking book map to show me relative to volume that's occurred before whether or not I'm seeing a response at that level and for what I needed to confirm And give me confidence in you know, whether or not the market's going to exhaust at that level Or whether the market has the ability to bust through that level Or whether the market's going to find support at a certain level I'm really looking and here's a really easy way to do it. See how we're gaining some speed I want to see those bigger bubbles into a dimension. That's that clearing range high area This is what I need to see do you see that and and dark pools haven't changed that for me Right, that's what I need to see. I'm not surprised that that's where it's happening I know that's my clearing range high Right see this right here. Let me point this out This is the clearing range high right there. So that candle which most people see is a very one dimensional candle We are seeing The response at that level That's the difference and you'll see I'll toggle back and forth So you don't need to abandon everything else you're doing But I just want to say that as much as I love My charting and most the tools that are running on my screen are tools that I have created But we have to acknowledge the shortcoming of these tools. Now, I will say this area up here Could be some resistance because historical volatility tells me we could struggle But if I want to see that we're going to break through this It's even more important that I continue to see these larger bubbles larger bubbles are a relative conversation relative to what came before so I hope that makes sense and I and I do anticipate the market to struggle just a little bit here One because I've got a historical volatility range in play That's what this is in here This is a calculation that I created many years ago using historical volatility that looks at the typical price moment for a six-month look back So That is there overhead But if we're gonna if we're gonna survive this I need to get above 3880 And I need to keep looking at those bubbles to see if I've got the size Is it a bigger battering ram because that's what I'm gonna need That's what but nothing here is telling me that I'm sort of look at the size of the bubbles Do I feel that as a buyer or a bull that I don't have company? That's another thing You know, let's let's use some layman's terms. I'm not going to get into a lot of volume profile market profile Conversation. Let's just say that You know in some ways Mike makes right size does matter in this context So if I start to see relatively speaking see the bubbles are getting a little bit smaller And we're coming up to that resistance level and I'm sitting in this area I'm I'm I'm sort of losing like, you know, I'm losing some of that size that I need it doesn't mean that I'm going to shore It just means that it might take a little bit more time to attract more buyers I can't see the buyers getting attracted here. Can I on my sort of one dimensional or wonderful chart? And I use this all the time, but I can't see that that psychology This is a graph of psychology Even sociology right understanding mob psychology understanding the behavior of groups That's what we're doing when we're trading right gang book map is what for me Is what is is so important to understand that inside that sort of One-dimensional one-minute candle or however many candles are stacking up You can see the battle raging here and there's still a lot of size. So it tells me there's a lot of Opinion. It's an important level I didn't I didn't I wasn't caught off guard because again, we had this zone Already highlighted. We have this overhead resistance again already right there and then again Notice, I'm not abandoning things that I've used for decades. I'm so I'm not supplanting anything. I'm supplementing So I'm still long, but what does this allow me to do? I'm not gonna most traders get very twitchy here. What is book map allowing me to do? I can see the battle raging. No one's winning. No one's losing In fact, I still think the the the bulls are holding got plenty of support. It brings me a lot of Calm I may not sound calm. I get very excited when I trade. I love I love doing this You know, if someone would have told young rocky, hey, you're gonna you're gonna sit around using these cutting edge tools from your From your home and and and trade the markets, you know, wouldn't have believed them wouldn't have believed it But yeah, I get very excited. But book map actually gives me a lot of calm So I know there's going to be a battle raging here. I'm not going to get shaken out For no reason, but I could put in a trailing stop if that's something that I want to do All right so Have dark pools affected the way in which I Interfered and used this tool not in any way not in any way I know there's always been activity that I'm not going to see till the end of the day before dark pools It was block trades, you know, so you might and kudos for the question Pre-seeding this dark pool, which is I know a different animal But back but back in the 90s, it was a block trade all of a sudden this big block trade would go off that Didn't go off at that moment, but it's something that's already transpired and you know It made you wonder am I really seeing size and yet, you know back in the 90s when I was trading level two and You know looking at the the ECNs and the market makers and so forth I still I still could get the job done because we're still following a certain amount of flow An opinion. Okay and size So thank you for the question And Dan, thank you. I I hope that my talking through this is a more interesting than My throwing this on a PowerPoint and be I want you guys to see this happen live You know, let me let me leave this on on the book map for a minute because we're still battling in this area Isn't this interesting that pretty much that same volatility zone? And this is the other reason I love book map It's confirmed in so many ways where I know this volatility zone sitting overhead Should have size, but I don't know right? It just is an arithmetic calculation based on time of day and typical price movement going back six months I don't know what's happening here, but do you see this red zone is lining up with this? Confidence now I know all right. That's a level that the market's got to contend with and here we are just bouncing back and forth so Um, just again gives me calm gives me confidence uh What else do we have here? Am I currently am I currently long? So it was that level that I was showing you earlier thomas Yeah, when we broke through that first level and then and then I don't know that I'm going to buy again If we break out through 38 80, but you know what I'm tempted to do Is perhaps look at 38 74 with a tight stop If we're gonna and and remember today is not a typical day I don't I want to keep reminding everybody of that because we have The second day of testimony from Jerome Powell Usually when I tell my traders on a day, but Jerome Powell is going to be at the mic It's a caution day and I'll be very conservative about my trades But another thing I want to keep in mind is I don't want a short kapow. That's what I call him kapow Oh I don't want to short him now you saw we also had happened yesterday. So what I'll probably have to do Is what I could do From my previous buy is if we start to break down through here as you can see it's happening right now If we start to build some size and break down to that level I'm gonna I'm gonna pull the plug on the trade. I've already scaled out once and then I'll just take out And this is this is going to represent a trailing stop That's it. What can I do now? I'll wait for the next setup. I'll just wait for the next setup So I'm going to go back to my price charts my next setup And let me see. I'm focused on the es but the truth of the matter is I probably would be better off looking at Let's see NQ is interesting Crudel is kind of interesting Russell is kind of interesting ym is kind of interesting All right, let's go take a look at NQ the NASDAQ has really uh Been hit hard these last few days So let's take a look at the NAS. See the NAS is pulling back down to this area here around 13,050 Let's pull up the NQ here Look at that. Oh darn it. I should have switched on over earlier 13,050 Bottom of that volatility range 21 exponential moving average 13 exponential. So I've got some support in this area and again I in golly. We had that nice layer right there a little bit of size building a lot of folks Like using book map for momentum. Let's let's let's flip the script here for a second When the market starts to drop oftentimes, you'll see spaces between the bubbles and the bubbles get very small That's normal But a lot of times you will ask me well wrong even before we start getting those nice book map support levels how are you interpreting that the market's kind of Putting on the brakes right back to the size of the bubbles If I think the market is moving lower We get red bubbles red bubbles red bubbles and all of a sudden the red bubbles start getting larger I have pullback level I want to interpret that as Not more breakdown because the market's already been moving lower Right if we get a large bubble at a resistance level that to me could be fatigue As we're falling if the bubbles are relatively small to in relation to the bubble that we get At say a 13,050 major psychological level or in this case. I've got a 21 EMA I've got the lower end of my volatility range if the bubble gets large after a series of small ones That's when to keep an eye on so again. It's not just The layers to keep an eye on in terms of those nice Highlighted these little fire levels, right? It's not that these little fire levels that I'm looking at It's also the size of the bubble as we get there So again smaller bubbles leading to a larger bubble. Is it completely different conversation? So this the the size in that regard is it's very important all right, um All right, let's go back to He and if you notice I do I do look at currencies on this as well I will look at currencies. I'm an avid currency trader. I don't have any set up on the on the ozzy uh, so far I am interested in trading crude oil at some point perhaps, but um We'll I'll I'll keep from moving through too many markets. Let me uh Let me grab another question here So I just got out thomas. I'm looking I'm willing to get back in But I just did get out of that. Yes And I'd be totally fine to get back in now. You might say rod, you know, look the market bounced from there And that's fine. I'll just wait for another setup And that is going to be now 38 75 38 75 to approximately 38 73 and a half. So that's what so what I'll typically do Is I'll write that down. I'll write down those levels and that's what I have interest in And then I will so once we get down to that level. Well I'll look at whether or not that's a level that makes sense right now. It probably doesn't Okay, probably doesn't but we know that this is an ever-evolving picture. So uh, potentially Once we get down there if I start to see the small small small large bubble and I start to have Uh, that level it up. It's starting to light up now a little bit earlier than I thought it would see It's 76. I wanted 75 is 73 and a half. But that's okay If that's where it's going to light up that might be where that Size is waiting. So I might have to tweak my entry a little bit. You see that so I have a level based on price in this area And if I need to step out in front of that, this is going to tell me Okay, maybe 75 and a half 75 and three quarters might be a better fine tuning of that of that level But I want to see those larger dots when we get there showing me that the market's responding to What I'm seeing both from the perspective of support and moving averages and volatility and Again, multiple factors that volume is kicking in there too. Okay, so you'll notice I'm going back and forth between price and and My my indicators and volume All right, let's see what else we have here Um, hey there, john. It seems to me that nq deep liquidity levels act as magnets Whereas es operates more support and resistance You know, I love that you mentioned the word magnets john because I I believe I call gravitational polar on the same exact page I don't know that I notice it any differently on es than nq But I will tell you the relationship between es and nq is an interesting one Where I call es the dog and nq the dog walker when you think about the weighting of individual stocks and sectors In the es it's really a second rate nq In fact, tech is the heaviest weighted sector in all three of the major indices down as of course an s and p so I tend to find the n es sort of follows the nq around and More often than not yes that ym can have influence on the es That's mostly when we're seeing financials at work And healthcare But generally speaking if tech is leading the charge and we would know that through watching nq or xl k xl y xl c when nq is leading the charge Less financials and healthcare are just you know getting crushed es is going to move with nq so That's the way I look at it. I I do think that volume Can act like a magnet because as one of my mentors told me many many years ago The market moves in the direction of the most stops Well, we can see that right here, right the market moves and the direction of the most stops Now that's where this sort of insidious interpretation of oh stops or hunting stops I think a lot of people look at the market as this thing that's out to get them And I remind everybody the market doesn't even know we're there. It's like a surfer atop of the ocean Ocean doesn't care. It's going to keep doing what it does. So The way I look at this is The market's job is not to be Demolishing your account or even to reward you the market's job is simply to fill orders And it's going to it's like a heat-seeking missile. It's going to Move in the direction of those orders. That's typically what happens. And so yeah, I agree with you That's that magnetic action that I think you've observed very correctly I think that's a brilliant way to look at it. Most people don't Sort of think about size as being magnets I think it's that way in most markets, but I think the es and q relationship is unique because nq typically moves So I'm getting pretty close to that zone. I told you I want to be a buyer at But notice I'm not getting a lot of help I can't say that the bubbles are giving me a lot of confidence When I told you this area we might look at a buy So I'm looking now to see if we can start to increase some size I want to see relatively speaking a larger bubble. I'm not getting a lot of help though Right. Where's where's where's that volume stacked up for me? It's kind of a thin level here It's kind of a thin level So you might say well, Rob, would you buy if I see a thin level? But the size is there and I already have a level that I think could be valid on on my price chart I'll take a smaller position. I'll take a smaller position. I don't have to pass on it all together But I could take a smaller position. I think this would justify a small long All right, and that's that level we were talking about before Coming down towards 75 and three quarters 74. All right Do I use book map for equities? I do I'm I'm sticking with futures because that's what I trade in the morning the most And I and I and I've I've been mostly focusing on futures in the morning between 9 30 and 11 30 So, uh, yes, it it works It actually works in some ways even better than the broader indices because remember indices are just collections of stocks Right indices are just collections of stocks. And so if I get a better idea granularly at If I get a better idea what's happening at a more granular level meaning the heavily weighted stocks If the es is moving, what do I want to see moving xlf jp morgan apple Microsoft right, so To me it's a great supplement and additional opportunities And sometimes you're going to see better clarity At the sector or individual stock level than you will at the index level So that so yes, and that's the way I look at it and it works Actually really really well in fact if there's a part of book map that I think ends up being neglected And I can't speak on behalf of you know, all the other presenters But I know for me like it's a shame that I haven't done a stock presentation yet because it it really does work phenomenally Well, yeah, absolutely. I like I said, I use it for currencies too when I trade say the 6a or the 6j gold works great Could works great Next up is So Yes, very very confident big fan of that I just don't do a lot for whatever reason in the morning with during these presentations Mostly because I'm you know up to my eyeballs and es and q y m r t y Uh, Daniel asks, wouldn't some of those bubbles possibly stop runs of the uh shorts Yeah, I don't again. I just looked at it as filling orders Who's getting benefited by that who's being um, so somebody else's stop run is somebody else's fill So to your point. Yes, it could be it could be a stop run, but stop runs Of shorts to me. I mean there's there are long squeezes too as much as there's a short squeeze There are long squeezes too So what is one person's exit is another person's fill? I try to keep that in mind But yes, absolutely sure and again if they're running stops down to a level of support We had we had called out that level of support as potentially this Technical base level remember we talked about all this around 38 75 and three quarters down to 30 73 And three quarters 74 so we knew that was a level What five four five minutes before and then what am I doing? I picked the level out here And then I'm just looking for the confirmation Not the best confirmation here though not the best and again Jerome Powell's testifying doesn't surprise me It's going to affect the way the markets are going to respond. So not a clean clean trading day because You know day two of Humphrey Hawkins testimony is a big deal, but So yes, of course, of course, but remember if if someone's Short and they're buying back someone else might just be getting long So for one person that that buy is not a net long, but for somebody else it is But yeah, I like where your heads at I you're exactly right, but what do I want to get opportunistic at for me? I like when those markets pull back love that We talked about one situation where book map helped us through a Resistance level here. We talked about book map Helping us through what was not a strong support level, but it was a support level nonetheless And again, look at the size of the bubbles relative to what preceded it as we get down to the support That's really important and I'm not worrying about it until I get to my price level I think if you're trying to use book map and you're a brand new user Don't Initially that I think the longer you look at this you'll be able to use book map as a standalone more and more and more but I think in the very beginning if you have levels based on more traditional price based analysis or moving averages or What have you maybe there's an indicator that you like uh Let that show you where the price is I walked you guys through that right moving average volatility told me that zone And then let book map can confirm it. So that's a I think a really powerful way to do it um And I actually don't necessarily now. I know we can change The now I'm using the traditional dot now the other thing you guys can do which would be helpful Like I said in the beginning and I'm not trying to make this for beginners only But I think it's a good place to start if you're brand new with book map because a lot of things that Sadden me is if someone starts off with book map starts to over complicate the use of it starts to over trade They don't see the results. They want to see and suddenly they think well book map doesn't work and that's just not true Um volume works, right? It's not a matter of well book map doesn't work No, it's a matter of am I using what it's telling me at the right time? Um and in the right way So just my just my approach to it. So You'll see I'll kind of toggle back and forth Keep it simple at first. Like I said the first couple of weeks Just study the difference the relative size of the different bubbles Study where you would typically make a move sans volume and then add the volume and say Oh, this is what book map is telling me at this level that I would typically want to do something at Is it fine-tuning the level for you? Is it negating the level for you? Is it better confirming the level for you? Okay um next is Currencies, you know, I don't have a trade on currencies right now If I did I'd be happy to show it to Let's see here 70 if you want to keep an eye on one. Um, Peter 79 10 on 6a 79 10 on the 6a Keep an eye on that. So what have I done? I've basically plucked out the volume weighted average price since 9 30 I've got it. I've got a I've got a 7 a.m. And a 6 and a 9 30 a.m. Anchored volume weighted average price I'm sitting right in front of the major psychological level. So yeah, I'd like to get long around that level And then I will see What kind of action I get I already see those levels between 14 and 10 are lit up Now I need to see the response. Let me get down there. So I know they're there I know they're there from a price-based technical indicator type perspective I know they're there from a volume Perspective and now I want to see if and when we pull back Relatively speaking, do I see the size kick in and that could be a level to watch? All right, they move slower though And you know, of course e s and n q are moving pretty swiftly today because of because of palette Okay, so hang on gimme Reggie actually I have some questions for the currencies as well We cover them every now and then in the in the webinars daily webinars we have but Since you're the expert with the with the currencies here and have traded them for so many years You know the liquidity is very different in the currency futures You see a lot of like kind of hedging or You know a lot of arbitraging Every other price level you'll see the like just kind of like this here Like, you know, you'll see liquidity at at every other price level, but they're always pulling You know once it gets up to those levels Sometimes they stay in the book and those are those are really good confirmations But most of the time it kind of comes up to those levels hacks around a little bit and goes back down the other level they pull I just wondering if you have any insights on Trading currency futures with book map So I'll do the same thing where you know, I for example, if we get down to 14 I wouldn't be surprised if they pulled the 14 that's 79 14 I wouldn't be surprised. I would be more surprised if they pull 79 10 Um, and and and if they did pull 79 10, I wouldn't be surprised if they appear at 7906 So, um, I'll look at levels. They were at I'll look at levels They're at right now and I'll look at the proximity to a major psychological level Evolving weighted average price level a level that I would consider important before I then go confirm that on book map So, yeah, I mean forex is a little bit different to beast but um I guess because what I tend to do and you know until you said something I probably didn't I probably wasn't that conscious of it. See that level gets my attention as much as this level And I hope that kind of makes sense gang So if this and and and this level gets my attention too But not as much because it's really the 79 double zero that I think the close we get to we're going to start to build interest that but What I'll do is I'll look at where they were interested before Before where I think they might pull shenanigans. I agree with you although we've had support previously here So one really good way to look at a level like this where there's some doubt is you know, did they step in before? And if they did and their size they might defend that they might defend that um Yeah, oh six would get my attention So does that help does that sort of make sense? I don't know that I was ever sort of consciously competent of what my eyes and brain were doing But that's how I would interpret this particular chart No, that's that's that's excellent. I would agree with you I mean it looks like the guy at 10 is is you know Likely going to stay in there and you can even see the large lot tracker In the order book there is showing probably about I don't know 60 to 70 or one is one individual actor In fact, it's the same guy You can see him down at 7902 And he kind of moved back and forth between that and 06 and then he pulled from 06 and then put it to 10 Yeah, yeah for sure. Let me look at this from here. Yep. You can definitely see When we get a hole here. Yeah, he shows up there Yeah, yeah, and then he then he moved into 10 and it seems seems to like just call it quits for now Or at least he's holding at 10 and Yeah, like likely the same player But and a larger player at that for sure So, yeah, I would I would agree with you on that Okay, cool. So, um, yeah, that's the way I look at So I think one of the mistakes I used to make early on is I wouldn't look fast So a lot of times if there's nothing here, a lot of folks will just tune that out I think it's really important to look back at what has transcribed you know, so Um transpired so as I'm interpreting this you're right if if this were to Disappear it's amazing how often they'll end up here So that I think the previous levels are levels that I sort of Mentally make note of psychopscotch for these guys sometimes Which I think is kind of what you're saying, although you said it a whole lot more intelligently than I did No, I mean I mean, I've been looking at this program for years but It's just the currency is definitely they're they're different um, and You know, I would just um Wondered about your insights on the on the currency futures because of your your background and experience The closer I am to a double zero or a 50 I feel a whole lot more confident It's at 32 that i'm not as happy. It's at, you know 65 that i'm not as I want to see those those double zeros and those fifties are very powerful I have found in in currency trading forex specifically, you know, so If the 6a is a reflection of what's happening in the Australian dollar versus us dollar So a lot of times I'll look at what's happening there as well But the same psychological levels to me, um apply, you know for sure for sure So that's that's what I found if I can gravitate towards those psychological levels I have a whole lot more confidence that while they may step off I'm probably within, you know a handful of ticks of where they want to build their position Interesting Do you can see now that guy did exactly what you said from tan dropped it back down to 06 Yeah, it's just it's just I I remember uh looking at like hopscotch You know, so he's going to jump from here to here and you can kind of see that in the past You were you pointed this out that that this So when when the from here to here, that's one little jump did it again here and then now he's doing it here Yeah, I I hear you. I think you pointed it out. So I'm just I'm just I'm just surfing your way there my friend. I think you nailed it um Well, you know another another thing like um, you covered this in the last webinar you did was it was just excellent and uh Uh, I think it's so important probably I mean in you know my personal opinion, um Uh such an important element, but also probably one of the best kind of indicators that you can use is uh correlation to the u.s. Dollar or You know, um, maybe bonds or something like this, but um your correlations with the with the dollar uh euro dollar last time And and the yen as well. We're we're just excellent. Uh, do you use that in your trading? um Like like today You know, I realize it's been a long time since I think I presented first so since then Wow, so since then and it's all going to depend on central bank activity Right now in the reflation macroeconomic stage that we're in right now. I typically am very bearish dollars So I'm going to be bullish things like copper. I'm going to be bullish things like crude I mean we're in a reflation trade grains have been in fuego on long meats um So in many ways, I think we're just seeing the sort of move Into commodities. I think we're still at the pretty not maybe at the base of that move higher but we're still on the climb in commodities and in that reflation trade the the the Inverse relationship between dollar weakness and the commodities moving higher that reflation trade Gets me interpreting what's happening in currencies differently since most currencies are traded against the dollar So we're never trading Australian dollar futures gang. We're always trading Aussie versus something We're never just trading euro. It's euro versus something. So The versus something is usually the dollar and I'm very bearish dollars. So I'm very bullish Aussie Because of the reflation trade and coming commodity currencies are going to benefit from that So if I'm bullish stocks and if I'm bullish Metals, you know, remember Australia is a huge exporter of of aluminum and iron ore There I believe the third largest Digger of gold So it's hard to want to bet against these calm dolls and then you've got canada energies have been flying So again, canada exports lumber, which I think is right now the relative outperformer amongst all commodities So, you know, I'm bullish canadian dollars. So I'm still very bearish us dollar. I'm bullish those particular currencies So I think since we spoke last We're now in this reflation environment and so I'm quite bearish the greenback Okay, excellent Very cool Let me tackle a few more questions here before our time is up Do I place a stop when I enter trades? is so So, um, Thomas so you can use the support levels just below Well, so for for example, I'm going to go back to the chart here Just like I pinpointed a level that I thought would be support In the es a lot of that was based on the 21 exponential moving average and the 34 ema high closed low So typically my stop will be on the other side of that red moving average, which is the 34 ema on the low But actually just below that I would probably consider a volume weighted average price Reentry I don't mind taking small paper cuts Um along the way and and I think one thing that I omitted from our conversation because I mean There's just so much brain dumping I can do in an hour, but I have an overall bullish directional bias I'm not interested in shorts, you know, I don't I don't believe that fading Powell yesterday was the was the move I think the better path of least resistance is to wait for those nice divots in the market Those nice pullbacks wait for your pitch wait for those lower lows and buy from there Even though we bought an initially a breakout high And then took a small Pullback buy I want to only be a buyer. So if you notice, I never talked about short I stuck only with long positions. So in that most recent conversation we had Where that 75 and three quarters down to 73 zone My my stock would be below the bottom of that buy zone, you know, it might be a half a point It might be a quarter point, but my stock would generally be below that and and I think that Um I always hesitate to say this but again in transparency, I'm not a big fan of Placing my stop in the market. I want I like to place alerts. I like to be aware of what's happening, especially if I'm day trading You know set it and forget it day trading doesn't work. You've got to monitor it to a certain degree I'm only trading day trading for two hours every morning. So I don't think that's a Very high tasking thing to have 120 minutes of focus between my price charts and my book map is not overly demanding but I think that I like to put my limit orders for entries and limit orders for exits So I love conditional orders, but I will not place to stop I will see the way in which we get there Am I getting small book map bubbles? Is it just a wick? Uh, you know, what's happening today, you know in the case of Powell. So there's things I like to assess which means I also have a slightly higher risk tolerance, but um, that may not be applicable and Right for everybody, but I Will typically place my stop below the validity of the buy zone But when I say place my stop, it's not physically at the market. It's an alert typically or I'm watching it or you know, I've written it down on my On my pad and that's another thing Even though I'm tracking book map and all that stuff Right, you know be an active note taker in the market be an active You know take notes take screenshots Uh, I believe in and being very active, you know, I see some day traders sort of kick back and Be active in your maybe not your trading but in your In your your you know taking in everything the market's telling you take lots of notes Take lots of screenshots and taking a screenshot on book map. It's ridiculously simple and that function is so easy. I recommend doing it Uh, let's see here Yeah, actually if I if I can Overwrite for just a second here. Um, you you mentioned something very curious. So um, you're the way that you are trading Um, uh, your trading style is you are looking at the bigger picture And then your day trading and you're you're also in you know, taking larger longer term positions But then your day trading is always within one direction That's correct. Okay. All right. So if you see something set up a nice setup going, you know, the opposite direction You you would not take that So even see all these levels to the upside in my mind Those are all potential targets for longs. I will not short this market Now are there days that I'll wake up and say, okay, I'm in a bearish directional bias Yes, but that happens very seldom because if I if I step back And I look at the overall direction of this market The lower probability side of the market to me are the shorts even you know, you can look at on monday I had two I had three trades set up two that I took. They were all buys And and s and p was one of them. Nice winner yesterday. I think Late afternoon folks who waited for sort of the post powell capitulation Great buy. So, you know, a lot of times people said, well, won't you get stopped out on down days? Absolutely That's a function of it But I think folks who are going both ways through all of this Missed out on the commitment you get when you're playing with the larger trend So my daily timeframe has a huge influence on the way in which I'm looking for setups And I've been bullish only since november 3. I have not put a single day trade short on since the 3rd of november Wow, that's excellent. Thank you very much My pleasure my pleasure All right, anything else I can cover for you guys. I don't want to keep you I know that a lot of you are actively in the market as I am but was there were there any questions that I did not address uh Oh the iceberg tim um Yeah, I do use the iceberg like I said what I did and bruce set me up with the iceberg last What was it september or august the last year? I can't remember bruce. He set me up with that So so tim what I did and I'm a fan of it for sure But what I decided to do for better for worse and to make sure that everybody felt like this is something that's accessible and usable on day one Is I went with the default settings, right? I didn't want to throw too many bells and whistles on here to intimidate or discourage folks who are just getting started So I kind of had in my mind a really good Live discussion using using sort of the baseline of where you could start and build With book map because I know a lot of you have access to very sophisticated book map Users i've seen some of the past Webinars, so I thought you know what let me let me speak to someone who's been with book map for less than a month or three months And it's still trying to find their footing And then can grow from there because I think if you can get this foundation down Yes, you add something like the iceberg I mean you're gonna feel like you've got x-ray vision. I totally agree okay, like People are asking about recordings. Yes, they'll be up on our youtube channel Later today in a few hours in fact Look for it. It'll be in the pro trader webinars you know playlist there and People are asking you raggie about your if you have a trading room, etc So I've been putting your contact information in the chat You have you should have basically everything in there, but maybe you wanted to mention something about that raggie sure sure So you can find all my services at simpler trading I'm in a simpler futures room and then somebody that might so I like some longer term setups I'm in something called sector secrets, which is more of my options trading longer term daily time frame By the way book map is if I'm if some folks ask rock Would you still look at book map when you're putting in a longer term trade in apple? Yeah, if I'm trying to figure out where I want to liquidate or put a bid in on a on an option I think every trader would be benefited from the type of of acute Entry order execution That a day trader has to have but when you have that ability even to apply that to longer term time frame You're just going to be better at order entry And if there's any skill that I find is lacking in folks who are not avid watchers of volume and respecting of size Their order entry is awful And I mean that not to put anybody down But it's just it's something so lacking in our industry where people just get so consumed with the charts And and the price and they forget that order entry has a lot to do with size and understanding size so I think Even for your longer term setups book maps just going to make you a better order I mean an executor of your trade so Um, but so those are the two services a simple futures such a secrets mastery They're all available at simpler trading comm and then I do have a free newsletter It's at the countdown trader comm So if you were interested in some of the conversations we had about copper and crude oil the macro discussion some of my discussions about trends That's free. You can just go check that out at countdown trader comm So hope all that helps and gives you somewhere to to pivot from as we wind if we wind down today Okay, excellent. So, um, there were still some other questions in here. Um, and Guys, I think we're gonna have to have to leave it at that. I'm sorry if we didn't get to your questions Um, I can I can copy them and send them on to raggy. Uh, if you like, uh, raggy And Uh, and plus you guys have her contact information. Oh, yeah, I saw that the after hours thomas Yeah, I'm sorry. I just scroll down to after hours not often and if I do it's after 8 p.m Um, and then some of the other questions I think gang if you watch the replay as far as bubble sizes relative size I think you'll see that in the um in the replay and then Do I care what the color of the bubble is? At that level actually, I don't I'm not as concerned about I'm I'm more concerned I think at the beginning focus on the size of the bubble and then transition into those, um Bruce, what's the name of those pie chart bubbles because that's what I usually have on what is that one called? That's just total volume. Okay. So I mean, but basically we it it's a pie chart because so many transactions happen So quickly or in a small area that we have to give kind of an overall So I don't recommend starting there I'll just say focus on the size and then you can like I said Go into that pie chart looking bubble to get a feel for the the buys and sells at the Then a buys versus sellers at that level, but um, this was designed to be really a good basic Look, if you never went beyond this, I really believe you'd be fine But if you can build on top of this, you're just going to understand size and behavior at a much better level So I hope at least I accomplished that and I really appreciate the questions As far as some of the questions about the other Platform that I was using. Yeah, I'm not going to get into that here again I just want to stay focused on the book map But yes, I do use thinkorswim charts trade station charts as well as trading view Okay, um, we'll let's uh, we'll wrap it up here Thank you so much raggy. It's always always a pleasure having you It's been it's been a while. We're very very happy that we had you back And and look forward to it. Um, you know another time as well You bet Okay, thanks everybody and we'll catch up another time Take care. Be good to each other