 Okay, we'll take a look at the order flow today and how Bookmap can display a lot of this information very clearly and objectively for you. First we'll go through the risk disclaimer. Trading futures involves substantial risk of loss, it's not suitable for all investors. Past performance is not indicative of future results. For more information go to bookmap.com. Become a member there, you have the free resources and you can reach out to us at support at Veloxpro.com. So here's bookmap.com, a lot of information here that might answer your questions. The pricing, if you want to give it a try, is $49 per month for the basic and $99 for the advanced. The difference between the two are the one-click trading add-on as well as some of these other add-ons here. They are billed quarterly, so please note that. You get a 14-day trial period with it. So this is a great opportunity to check it out, see if it's something that works for you. If not, then that's fine. You gave it a try and you're here at these webinars asking questions that you have regarding the software and that'll help quite a bit to get you up and running. What we believe is the quickest way to learn the order flow here, and that's using that replay mode, and I can demo that for you a bit later if you guys like. Just let me know. Okay, well, we're going to take a look at the order flow here, but we're going to integrate it with our macro view. So we're going to start off with a bigger picture, then we're going to look at the micro structure, get an understanding of what's going on out there, and then integrate that micro structure within the macro view, and that'll be the order flow. So let's first take a look at our higher time frames. It doesn't matter how you trade. We're going to just outline some higher time frame levels, and then take a look at see what the book looks like at those levels, so we can objectively understand the order flow, and that's going to allow us to pinpoint the entries and exits. Okay, so we'll take a look at the ES. Let's see, I got a 30-minute chart here. Let's make this a little bit bigger, and let's start off with a daily chart. Okay, so you can see that we had this down day here on the 21st, and we've come up and now we're testing into that area, but we do have a level there of interest that we drew in many days ago, around this 55 area, or 50 maybe. So anyway, we know that's going to be an important number. Around 2350, we can clearly see the move down and the acceptance down below here, but we see buyers coming in the last three days here. All right, so buying interest is coming into the market. And here is the price action on the 30-minute. We can see yesterday the big move to the upside during the cash session, and today 9.30 a.m. looks like probably initial move down and then a move back up. We just had oil inventories and spiked up above the overnight swing, so let's draw in that line there. Be interested to see what that looks like. And also, the high of yesterday during the cash session at 2360. And then we can look at the low of the day here, but I like this line I have here at 4950, somewhere around there, so we'll just keep that. And then let's take a look at the book now. Well, let's actually, sorry, we'll take a look at a five-minute chart and see anything else. Everything looks pretty good. I like it. So let's take a look at the book map. Okay, here's our 60 level off the bat up here. Here is our 50 level down here. I'm going to draw those in quickly. And what else? Something interesting around this 52.5 area, and potentially also around this 54.75 area. So just a few lines of interest in trying to gauge what's going on here in book map. The price structure that we're looking at, taking a look here, we can see the initial move down to the downside, and then we see the swing up above. And at this point, you can note that we have traded to a new level above this 52.5. So this is one of the order flow phenomena we can see on a bigger scale here, but we see it again and again. In fact, we're starting to see this price structure again right now. So let me outline this for you. And we want to understand what the order flow looks like within these price structures. So we have a structure down here, and we have another structure here, and we have another structure here. And note the areas when we break these structures, they usually happen pretty quickly and pretty aggressively. And that'll be a sweep of the price book all the way through that area, and then price will start to either accept or reject in this newly discovered area. And so that's the concept here. We can get rid of some of this noise. So we can see here, and I just want to get rid of this line here, although it does look good. Just I want to look at the chart a little bit clearer here. Okay, so what do I mean by this in this price structure? Okay, so you can see the breakout here to the upside. It's a little muddled with this around 930 or 940, the little spike to the upside, and then the move down again. But you're going to see that these areas are going to be your low volume nodes right in through here. Like I said, a little muddled because of this. But and then through this area here, you're going to have your low volume node. Now we just had a lot of volume trade in there, but we can still see, we can look at my data columns here, and we can see that we have a low volume node. So a lot of traders, if price is accepting above this breakout of this area, and we see this pullback into this area, we want to see if traders are engaged to buy here. And we can see indeed they are. You see the liquidity they're starting to provide at this area. We also see a lot of volume that traded down into this area. Okay, the question is now, is this an area where they want to buy and support price? Or do we have the same phenomena that might be occurring on the opposite side here, where microstructurally, perhaps we're going to see the same phenomena right here. We broke down below here, and we see sellers are starting to line up in this area here between 56 and 57. So we're looking at a battle between those two areas right now. And actually that kind of leads into nicely the first question we ask when we show up to this auction. What is the current configuration of the book? So let's take a look at that. So showing up to this auction, we're asking these three questions that understand the current configuration. Where are the majority of the participants? Where are they buying and where are they selling? That's what makes the market, the liquidity that is provided. And then we want to understand how they behave at these areas when price approaches them. Do they really want to buy or do they really want to sell? And then we're going to look at where the transactions are taking place, which is traditionally tape reading. So let's take a look here. So first question pretty nicely answered. You can see that we have sellers here at 56 and three quarters and buyers down here at 54 and three quarters. That is the current configuration. And how are they behaving as price comes up and approaches them? Well, we can answer that question right here at this 56 and a half. Notice how, and let's just zoom in a little bit. Notice how this high liquidity in these areas here, they start to pull when price comes up into this area. Now these guys at 56 and three quarters are now pulling as well. So where are the sellers now? Well, now they're up here at 58. We're starting to notice them come into the book at 58 and above here. Now we're starting to see a phenomenon here. And let's see if we get a continuation of it, but they're starting to lift the offer with the aggressive orders. And notice how the buyers are becoming more aggressive. The sellers, they pulled and the buyers, they're stepping up their bids. They're now at 56. And let me just, just a very quick adjustment to that heat map. And you can see that now I have a little bit more information at the zoom level to give me insight to what's going on here. So we'll see now if these guys, are they going to stay in here? Do they really want to buy? Is this a deal at 56, 56 and a quarter? Well, it looks pretty good. I mean, so far, so good they're staying in here, but we need to see them. Here we go. Here come the buyers. We need to see these buyers lift the offer. Sweep the book back up into some of these areas here. So we're looking for maybe 59 now. We noticed these guys at 58. So we're coming up and starting to, we're just a few ticks away from testing them. So, and this phenomenon here, we see again and again in book map. This order flow phenomenon, this is a flipping of the book. Now, you usually see this on these breakouts, just like I've been describing, when you see, for example, the break from this area here. Okay, and a return back to where we broke from. Okay, your low volume node right here. And we see the buyers starting to step in. Okay, they're starting to become interested. Okay, they were sellers here. Well, it's a little bit higher. It's not really a flip of the book. A lot of time had passed, but this is probably a better example here. They were sellers here on the offer at this 56 and a half. And now they're buyers, just a tick lower at 56 and a quarter. Okay, and now we're getting, we're answering that second question is, is this flip sustainable? How are they behaving here in this auction? And we can see that they're pulling liquidity. Okay, so it's not so, it looked pretty good there for a little while. Right, pretty high liquidity. And then we can answer that second question. Right, when price comes out toward them, you know, what is their intent? Okay, do they really want to be buyers here? Okay, and they're a couple ticks lower now. Okay, so yeah, we need to see, we want to see that intent to trade at these levels. Okay, and we're not quite getting it right now. Okay, so I'm looking for potentially, you know, more sideways action then. Okay, I mean, this has the opportunity here. Okay, we don't know. Right, but if they were, if they wanted to bid up at these higher levels here, and they thought that this was a deal at this price level, then they're going to support it. It's a FIFO market. It's first in, first out. So if they want to get their size on in these areas with their limited orders, they're going to stay in the book. Okay, and that is helpful for us, and we're reading it here in Bookmap, to understand the intent of these guys, but to understand the liquidity at these areas, like, you know, what is their game here? You know, do they think that this is a deal, or are they looking for lower prices? Are they getting aggressive? We can note the difference between aggressive and passive limit orders. Okay, now let's start to weave into this, the transactions as well. All right, so where is this volume trading? Okay, well, pretty nice cluster of volume down in this area here. All right, also in this area here. Okay, now that's indicative of a down trending market, because you can see we made a high here. We did not breach that high, or maybe we did buy a tick or two. Okay, we see, now we can, we broke below this little swing here, and volume accepted. Okay, we made an attempt to come back up and make a high here, but we did not. Okay, we broke down in fact, and more volume traded below at a lower low. Okay, so now we're starting to understand and read that the order flow and the transactions actually is looking for price discovering now to the downside here. Okay, because we can see that the structure here, at least in this area here, has been broken. But it was this area here, we needed to see if those buyers were going to step it up or not. Okay, and they didn't. All right, look like it, look like they were going to, and we were looking for 58 the next level here, but no, didn't get it. Okay, any questions? So, you know, reading these transactions, okay, I mean, I'm seeing it really kind of, it's kind of both sides. I mean, obviously, really nice volume dots in these areas down here, but this isn't so bad up here. You know, volume traded up here around between 56 and 57. So, it's not decisive. But whereas, let's take a look at maybe some of the trending action if we can. Yeah, it's not so clear today either. But you know, we'll notice usually in that trending environment, is areas like this here before 1030. Now, this is before some fundamental news. Okay, so we had the oil inventories, and you can see the market reacted toward that. But in this area here, you know, you see a lack of aggressive volume here. Okay, these little points down here, there's very little volume trading. Right, usually in that trend, is what you see is these areas down here, you see very few transactions and more transactions in the higher highs. Okay, that's like in this area here. Okay, as price continues to extend into higher highs, you see more volume trading at higher highs. And it continues to pull price up. Okay, and that's just reading the tape here. Okay, but we can also read, you know, the intent of these traders. Where do they want to deal? Okay, so let's start the process over again and take a look here. Configuration of the book at 54 and at 58. Okay, four point range. And really nothing happened in the middle here. All right, so let's see was there were some things I wanted to go over, the volume dots maybe. So for those of you, there's been some questions recently about some of the volume dots, the size being too big, especially during the fundamental releases. Well, let's click back to restore. And we'll just, you know, sometimes you'll see a view like this with really big volume dots. And it's, a booknap is correctly displaying that for you because they're all in reference. It's showing the dot size in reference to other areas. So you understand that there was a lot of volume in some of these areas compared to others. But if it's just too much and just bring that dot size down and then you can read this chart a little bit easier here. Okay, now I have it set with the Pi display. You can also look at solid dots here, which will just be a line going right across the center. Or you can look at the gradient. Now this is originally how we had bookmap long ago was the gradient here. So all green was aggressive market buys. All red is aggressive market sells. And something in between that those two colors would be buying and selling. All right, so I do, I really do like the Pi display. I think it's very clear. I can understand the 50% line very, very easily. So I just keep it on that. I'm also using the dot clustering here for smart. You can look at it with time and we'll input every five minutes. Or you can look at volume by volume and we can look at the number of contracts that traded. Let's input 500. Let's input 1500. So now a volume dot, and you see they're all the same size, because they represent 1500 contracts that traded. So it's not by time, it's by the condition of the contracts traded. A lot of traders like that view. And now if there was like 3000 that traded very quickly, then you would actually see a bigger dot. All right, let's bring it back to smart. Now the smart clustering here, what is showing you is basically a combination of time and volume. So within, and it's not time by a specific number like every five minutes, it's based on the amount of activity within a time zone. So the more activity within a time zone, then you'll start to see visually a consolidation of all of that volume within a bigger dot. But all the data is still there, and I can demo that here. We'll click on the hand tool, and let's roll over this big dot right here. And you'll start to note that the clustering, the algo is still working on it, but as I zoom in, I'm breaking apart all of these trades because now they're not consolidated. The time frame here is that we're looking at a second between each vertical dotted line. Now I can continue to zoom in here and continue to break apart all these trades. And you can see exactly we're showing every single event here. Now we're looking at microsecond level. We're looking at billions of seconds here, or I'm sorry, millions of seconds. We can look at nanosecond level as well. But it's unlimited zoom, basically. We continue to zoom in and zoom in and zoom in, and we can see this is one lot that traded right here in this universe of trades. Okay, so as I start to zoom out, though, note how Bookmap will consolidate that and aggregate it visually, and you can see what exactly occurred here. We have majority of it is selling, but there's some buying. Okay, as I continue to zoom out, the same thing occurs again and again, okay? And that in the end constitutes for this big red dot here. Well, it's basically a little more selling than buying right in that area. Okay, let's zoom back in. Okay, so yeah, nothing shaken here. Good time to go over things with you guys. So ask away with any of your questions, anything that you want to set up or look at. There are just so many tools here, so many powerful tools, just the volume alone. We're just looking at the dot clustering, but we can actually filter out trades as well. Obviously, you're not going to lose any data. They will come right back. But this minimum accountable dot size will allow you to filter out a number of trades. So let's input 500 and you can see I have quite a few less dots now. So the way that this works, let's see, let's bring it back to one and I'll describe it here by going over this setting down below here first. Okay, minimum accountable trade size. So this is looking for a specific trade, a specific event that accounted for, let's say 100 contracts. And you can see that there's not a lot of that kind of activity. So block orders like this don't go through very often in the high frequency environment. Obviously, that's a pretty big order. Let's input 50 here. So there's a few more now. So each dot is going to be at least 50 or more contracts for a dot to be presented. So if I zoom in, all of these dots are still going to be here because that event is, we're looking for exactly that one event. Actually, we can see that this actually constituted for quite a few trades here. And you can see how that was consolidated. So I can use this tool and roll over here and we can see this was for volume 135. Okay, one, it looks like one trade. All right, and I can, I'll make another, I'll show you the columns here. I'm going to make another column. I'm going to insert one. And I'm going to change that to a trades counter. So I know exactly what traded here. This is one individual event, one trade for 135 lots. Okay, as I continue out here, here's one for 66 lots. Okay, let's zoom in here. So you can see it's one trade for 66, which is actually really interesting because we have the, I'm getting a little off the subject here. But you can see that this 66 right here, this is our iceberg detector algo. Okay, this is one of the add-ons you get with the advanced version. And what had occurred here was 66 traded when actually there was nothing, it was replenish the offer. And you can see that 66 traded, but the liquidity here is still 42. So how is it possible for 66 to trade, which is even more than 42, but the 42 to still be here? Well, it's an iceberg, it's an iceberg order. It's liquidity that traded that wasn't in the limit order book at that time. So larger players like to use the iceberg or hidden order types. You can see there's quite a few going off here to get their fill on, their size. That's not what I wanted to do. Let's try to find that area again. That was a good little area. Was it here? Maybe, yeah, yeah, okay, perfect. Yeah, Andrew. Okay, I'll go over the API and then some of those automated strategies as well. But so anyway, we're looking at the iceberg detector, detecting all of these using the hidden order type of liquidity that wasn't in the book. It stayed at 42 the entire time, but 341 contracts traded at this point. And 23 events actually took place. So anyway, it's a bit of a demo of the iceberg, but in general, what I'm just trying to show here and demonstrate is we have filtered the trades out looking for 50 contracts or more to go through the time in sales. In fact, the best bid and offer that you see here, this is kind of like a horizontal time in sales. Okay, but it's so much more visual and so much more powerful because we can filter for so many different things. So anyway, that's the minimum accountable trade size. That's what you're showing. Okay, now let's bring that down to one and we're going to look at every single event. Okay, and now we're going to get into the next one, which is the minimum accountable dot size. Okay, or dot volume, I'm sorry. I'll input 500. Now let's go back to 1500. Okay, all right. So now this setting, you can see we filtered out quite a bit. All right, in order for a dot to present here, and the way that this works is the, let me, I'm going to back up again. Once again, I'm sorry, I hate to do this to you guys. It'd just be easier to explain this. Okay, in this high frequency environment, the way that these markets trade is you won't see a lot of those large lot transactions go through. The reason being is that it kind of tips off traders. You can see large trades go through the time in sales. Okay, a way to disguise that in the high frequency environment is to have the algo instead of have one trade go for 100 lots, you will have 100 trades for one lot each, and you see this all the time. Okay, as we zoom in, we can, well, we see that what will happen here is you get these flurries of activities very, very quickly trade here, okay, in milliseconds here. So, I mean, this is like a 10th of a blink of an eye, basically. And they just, they hit the bid very quickly here with all of these sell orders. And it disguises their position in the time in sales. You'll see all these one lots or two lots or smaller size go through very quickly. But the way that you can filter for that with the volume dots here is we can look for, let's put in 1500, all right. And now this is gonna be dependent on your zoom level, okay. If I zoom out, then what we're looking at here is an area where at least 1500 contracts have traded. But if I start to zoom into this level, now that dot disappears, okay. Why is that? It's because we can only show so much volume within one pixel of our screen. So when that condition comes true, that one pixel, one vertical pixel slice, shows at least 1500 contracts traded, then paint a dot, okay. And so obviously I will need, it'll depend on my zoom level therefore. Because as I zoom out, there's more volume being traded within a smaller and smaller areas within the pixel range in the chart. So they consolidate into a dot and a dot will present, okay. And what that allows you to do is then just look at significant volume, okay. Very quickly filter for it, okay. So this isn't a bad setting actually, this 1500 after the oil inventories. Because it's showing us here where this significant volume took place. You see them lift the offer here pretty aggressively. We see another push, okay. This is that indicative of that trending environment, right. We see more volume trading at the higher highs and less at lower lows, but that changes here, right. And we notice that as well, okay. And we're trading down in this area and we've just been going sideways since. Okay, so yeah, I actually kind of like this 1500 for today, okay. It's going to depend on your zoom level and the market condition. But it looks pretty good and then let's use that for reading the auction now, the intent of traders. And what's going on here in the book. Well, they're still up here around 58, 54 though they're starting to pull, okay. No significant volume trading now at the moment. Okay, so, you know, that has to happen. We need that volume to trade. And or, yeah, there could be a lack of volume, but usually what we'll get is those aggressive orders hitting the bid or lifting the offer up into higher liquidity. Okay, they'll sweep the book higher up into those levels. Okay, just like in here or in here. All right, Andrew, I'm sorry. It's a little late. I'll go over the chase and the escape strategies and the API tomorrow. When will they be released? It will be released in the new version is coming out very shortly. I don't have yet a date though, okay. So, it's going to be a pretty significant upgrade though. So, yeah, I'm very looking forward to it. And equities will be offered as well. Okay, so for those of you who trade equities, this is going to be a real boon for you. All right, all right guys. Well, let's call it a day. Not too much to look at in terms of the order flow. So, we'll, you know, continue on those kinds of days. We'll go over more features and functionality and please, ask any questions here. It's really an opportunity for you guys to get more familiar with what Bookmap offers so it can adhere to the way that you trade, which is really the key here because everyone looks at different things. And I won't know what you're looking at or what you need unless I get a little bit of feedback from you. Yeah, thanks Andrew. Yeah, so anyway, I mean, there's just levels, layers and layers of depth here to go through. I mean, the columns alone, you know, we haven't even touched that. But we'll continue to go over these on these, some of these slower days here, all right, and then ask any questions, okay. But yeah, good example of that iceberg, that was nice to see. All right guys, yeah, take care. We will catch up tomorrow and do the same thing. Okay, bye-bye.