 Okay, this is Bruce at BookMap. Welcome to the BookMap platform details webinar risk disclaimer trading equities and futures involved substantial risk of loss. It is not suitable for all investors past performance is not indicative of future results. For more information, you go to bookmap.com. There's a free trial for 14 days and this also opens up and allows access to the free resources that come along with the trial or current customers. That being the educational course as well as the advanced order flow webinars that we have at 11 Eastern every day. Okay, so in fact, I'm going to give that link out to you so you can get a peek if you're not a current customer or in trial and you want to see what we cover. Then you'll have to stick around until 11 and we will. We'll start the webinar then. Okay, so in another half hour. And yeah, let me get that link for you in just a minute here. I'll put it into the chat and. Okay, so the trial how to sign up for the trial if you're interested here and check out book map come to bookmap.com and we you can sign up for the free webinars here that's that's these webinars right now. Okay, the platform details webinars and then members can sign in here click on explore. If you're new here, you might want to check out some of these intro videos. They're very short. And we'll just continue to scroll down here as you go through some of the advantages and benefits of book map. Some of our partners and then connectivity, which is down here. If you're connecting to the futures or equities, we offer both the but we're not a data provider. Okay, so you will need to connect via one of these data providers or brokers. All right, there are many other brokers out there as well that offer these data feeds. This is what you need to connect to book map. Okay, so scroll down a little bit further under the pricing here. This is where you can find the free trial. Okay, so in general there is one version of book map the book map basic. Okay, it is the basis for the other featured different. There's different features for the other offerings here. Okay, so if it is the same book map, the difference are well, for example, between the advanced and the basic. Okay, it's the add-ons, it's the ability to trade from the chart, the one click trading. And then also these add-ons here. So the large lot tracker, the volume and order book and balance, the iceberg detector, the correlation tracker. These are proprietary add-ons that we created that allow insight to these markets. Okay, we come from the high frequency environment and an order flow. And these are proprietary indicators that look for these kinds of imbalances in the limit order book that give you that kind of transparency. There's a quant feature as well. You can connect your own data and do your proprietary studies with the quant version. If you want the complete list, the comparisons, you can click here. That'll take you right to it. And you can take a look and see the differences. Most of the differences are going to be down here. All right. Okay, let's see here. You can follow us here on Twitter if you want the most up-to-date information or retweets from other book map users to see what they're doing. And you can also subscribe to our YouTube page. And any videos that are updated or uploaded, you'll get alert if you'd like. And this is where you'll find all the videos here. So if you're new here, I would recommend going through the features and components to get an overview of what book map is, what it's showing you. And then start to dive into the order flow video snippets here. Now these are very concise short videos that just go over a lot of the phenomena that we see in the limit order book or in the volume. And we go through these in detail in the advanced webinars. And answer questions and really get into the analysis of it. These are very short and concise here. That just gets to the point. But the deeper analysis will be in the webinars. You can see our ProTrader series that we had in September here. If you want to look at or watch some of these videos, some of the professional traders that use book map. And there's some selected webinars if you want to take a look at the advanced order flow webinars here. And there's also platform detail webinars here. Alright, so let me get you the link for today's advanced webinar. So you can register and then attend that. I'm going to put this into the chat box for you. Okay, there you go. So if you want to click on that link, then you can register for the webinar. It will start in about 18 minutes. So 11 Eastern. Okay, so we had non-farm today. So some volatility comes into the market. And let's take a look at, we've been looking at the NASDAQ. Why don't we continue on with that? The ES really hasn't been moving too much. Although we do see some movement today. It's really not a lot. But yeah, let's check out the NASDAQ here and see what's going on over there. Alright, let me zoom out here. Okay, now you can see here I don't have the data from the 830 economic release of the non-farm. So here I have the cash session. So I opened my book map and started collecting data just before the cash session right here. So here's our 930 Eastern time. The cash session opens and then you can see the price action since then. Okay, so just a lot of sideways action for a while. And then you can see the move here to the upside. Okay, I'm sorry, this is the 6E. What are we looking at here? Okay, I'm sorry about that. Let's take a look. Here we go. Alright, here's our NASDAQ and here's our 930 open. This looks a lot better because you can see the volume that comes into this market. Any of these stock market indexes here in the futures. And just a tremendous amount comes in at 930 and basically dwarfs the overnight session within 15 or 20 minutes. And we see reaction here. Nice move to the upside immediately. Pullback and continuation. Another pullback and continuation. Okay, up into some pretty high liquidity up in these areas here. So now before I get into, I see there's actually quite a few guys in here. This is a nice trend that's evolving that are currently in either the trial or current customers that have been with us for quite a while. Attending the platform details webinar, which is great because that's what these are for is to go through the details in this webinar and answer your questions. What about the functionality of this? How does this component work? What does it show? And what are the advantages of it? Then once you've you've gained that understanding, it's great to get into the advanced analysis of the order flow. All right. Yeah, Jack, I'm addictive. Thank you. That's that's funny. Well, let's, let's take a look here. So, you know, before I get dive into some of the order flow here and we will take a look at some. But I want to explain what book map is showing you. All right. And then then we can start to understand some of the order flow here because if you're new here and there are there are quite a few new guys in here. And, you know, I'll welcome you to the webinar to begin with. But secondly, you know, this this look may look very foreign to you. Okay. There are visualization of the market. Now it's actually quite straightforward and simple to be honest. What we're really showing you here is historical best bid and offer, the volume and where it traded and the the historical view of the limit order book, the dome. Okay. So what's going on outside of the volume? Where are they bidding and offering? Historically, we have that recorded here. Okay. Now just to simplify that, I'm going to strip off these layers of information. We're just going to put a candlestick chart on here. Okay. We go through this process every day here. All right. Just to show you guys what what book map is displaying and how to understand this data. Okay. Because we all know what a candlestick chart looks like and what is displaying. All right. So you can see open, high, low, close of a five minute period here and and the next five minute period. Now, the problem with this candlestick chart is, well, there's there's many. I mean, it's nice to be able to see the the wicks and the bodies and start to understand a bit of the buying pressure or selling pressure based on that. But at best, I mean, it's, you know, it's it's like reading the tea leaves here. We don't really know. There could be all sorts of other things going on within these candlesticks that we just don't know about. So, for example, the volume, where did it trade on these candlesticks? Where's the majority of it? What about exactly when did it trade in this five minute period? What about some micro structures that were broken and then we see a lot of volume pour in and what type of volume aggressive buying or aggressive selling? That's all not here in this chart. Okay, we just have a sub chart of volume and we're accustomed to that view. So we just know that there was, you know, in this area here, a little bit of a spike in volume, etc. You know, that's that's all we know. So that's a problem. We're making financial decisions here and we want to understand this important data. Okay, so let's first just turn on historical best bid and offer. Okay, that's the red and the green line here. Red is the historical best offer and green is the historical best bid. Okay, and I really like turning on this this view here because already you start to see the differences. Okay, you start to see microstructural areas and they're really not that micro. For example, look at this kind of head and shoulders up here. All right, this is a obviously a pattern that we were all accustomed to. Well, it's lacking here in this five minute candlestick chart and we see the breakdown here. Okay, and we see the retest of this area and then it breaks down again. Where does it go to into this structural area down here that's in the chart? All of that is lacking here in this five minute candlestick and we rebound off of that. And come back up, retest these areas and finally the aggressive buyers, they come in in this area here and pull price up into new highs. Okay, so we're going to see really what unfolded here. All right, we're going to see them lift the offer pretty aggressively I imagine in this area here. I'm very curious to see what the limit order book looks like down here. I imagine we're going to see some bids in here supporting price and I imagine we'll probably see some aggressive volume in maybe initiate in this area here. Let's see, so let's turn that on. All right, here's the aggressive buying, pulling the price up as you can see. But this area here is, let me kind of make these dots a little bit smaller here. All right, there we go. Okay, yeah, we see some aggressive buying that start to start to pull price up here. But as a little bit back and forth here, you can but you can see, look at this area down here. This is where you can see the buyers started to get very aggressive. Okay, pulling price up. All right, majority of these dots here, it's aggressive market buy orders. Okay, so let's zoom in here and what do we mean by market buy orders and market sell orders and aggressor volume. Okay, so this is really how these markets work. Best bid here, the green line best offer the red line. Okay, we see a green dot here on the red line. This is a market buy order. Okay, it's aggressive because they cross the spread. They wanted into the market immediately and they took liquidity. They made an agreement here to take the next level of liquidity that is offered in the limit order book. And that was right here, these six contracts. Okay, and they took liquidity from this area here. They did not provide it. And that's an aggressive action. All right, it's the same here when they're hitting the bid with the market sells. Okay, they're taking liquidity off of the best bid. All right, and we're just recording all of that data here for you. Okay, so it's really quite simple and straightforward. Now, where it gets interesting is, and let me zoom into some of these areas because I want to show you something. If we can just zoom in here. And a little bit of latency, as you can see between best bid and offer and the traded volume, but continue to zoom in. And we're going to pull apart every single trade that took place here. All right, this is how these markets trade. All right, we're down at microsecond level. We can continue to zoom and look at nanosecond level. You know, if we look at the timeline down here. Okay, and we can see this cluster and flurry of activity that took place. Okay, and most of these are going to be for a small lot size. And you're going to see in your time in sales, look at this is for a volume of one, we can use this data tip tool. We can hover over this dot. It gives me the date, the time, what was on the ask at this price level. And that's the liquidity. So 15 contracts and then the volume. This was for one. This is a one lot. This is a one lot. This is another one lot. So you can see like algorithmically what's going on here. Like, you know, there's just a flurry. You're going to see a string go through your time and sales of just one lots. And why is that a lot of these guys in the algorithmic environment, they don't want to show their size. So instead of large block orders going through, you won't see that. You won't see like 21 trade for 25 lots. You'll see 25 trades for one lot. All right. So now as we continue to zoom out, though, this just becomes a bigger dot. Right. And we're giving you the overall says this is for a volume of 21. Okay. And as I continue to zoom out, I continue to just visually aggregate this data together. Okay. It's it's not all the data is still there as I as I displayed, you know, and we continue. We'll just zoom in back again. So it's all here. Right. Every single market event is recorded. Okay. We have a central complex event processor engine that can handle all of these data points and plot them for you. Okay. And we get a real clear objective view of what happened here. But as I zoom out, you can see the overall effect here. Now this volume dot here, we see actually a little bit of selling in here. That's the pie display. Okay. And it's for a volume of 47. As I continue to zoom out, you're going to note some of these other areas in these pie displays here. There's buying and selling. There's so many transactions that took place that we're showing you the overall delta of it with the pie display. Okay. So that's that's the traded volume. And you can see, for example, one of the things that we cover in order flow in the advanced section is look at this uptrend here. Okay. Look at the order flow, the transactions in this uptrend. This is indicative of the uptrend. Okay. We have more aggressive buying at higher highs. We broke out of this little auction right here. We accept it above it. And you see more aggressive buying at higher areas. Look at the pullback here. Okay. This is it does breach this little area right here makes a lower low. But look at the amount of aggressive selling down here. 12 contracts. Right. That's not enough compared to over here 167 113 plus 97 here. The buyers are overwhelming the sellers is exhausting on the Excel side here. And we continue to the upside. Right. That's how order flow works in a trend. Typically. Okay. And this is not a bad example of it. Okay. We can see a distribution up in this area here in the order flow. I'm getting ahead of myself here. We're going to cover a lot of this in the in the advanced. But what do I mean by the distribution? Well, you know, we see higher more volume at these higher highs, little less up here. Okay. Nice little peak here. But then look at the sellers start to come in and look at we make a lower low here and we see a lot of aggressive selling here. Okay. That is different than what we saw these little areas of exhaustion on the uptrend. Right. Okay. We're seeing a distribution in the order flow. Okay. So I'm anticipating lower lows. And that's exactly what we get. And look how we can see here more volume trading at lower lows. And now we're starting to exhaust out a little bit. I mean, there's a little bit of buying in here as well. But for the most part, there is less aggressive buying at these lower highs. Okay. All of that's lacking in this candlestick chart. There's no question there. So in fact, let's let's just take the candlestick chart right off. Okay. All right. So now we've just covered one aspect here. And that is the just the traded volume. And that alone, we're already seeing like some pretty nice advantages with this visualization of it. And why, why do I say that? Because if you have a footprint chart, it's going to be similar to the candlestick. It's going to rotate within an area of a period or of a rotation bar. And it's going to aggregate that data until there's either a new time period or it's met its rotation requirement and a new bar is formed. Okay. We don't do that here. We show every single event with the historical best didn't offer. Okay. So you can see now these little structural areas and flurries of activity. And you can see where the buyers come in here. Okay. We this auction in this little area here has now been breached. And we see buyers are starting to take control. Look at the poll back here and we see these little exhaustive areas. All this kind of data is here. And we can read it and use it to our advantage. And this is what's lacking in that footprint charts due to the aggregation. Okay. All right. All right. So that's just the traded volume. Okay. Now we also want to know another side of the story here, the auction. Where are they auctioning for this product? Okay. On the bid and on the offer. Well, usually typically the way that we access that data is in the dome. Okay. This is your dome here in book map, the depth of market. Okay. It's called COB, the current order book column. And you see these numeric values here. Okay. Between these two white lines, this is the lit book. Okay. This is the dome. We have 10 deep here on the offer, 10 on the bid. This is your best bid and offer right here. Okay. These values display traders lined up providing liquidity. They want to be buyers down here. They want to be sellers up here. Okay. So look at these, look at these areas here. We see what 45 here, 104 contracts. Okay. So they want to, they want to buy down here at 6045. Okay. And we'll see though, as we come down here, if they stay in the book. Or is it fake? Is it fake liquidity? Okay. And we'll test this area and we'll see if they remain or not. And if they get filled. Okay. Now the dome gives a nice snapshot of the current market. But when this data changes, and you can see these numbers are rapidly changing right now. They're adding and pulling liquidity. And you have to remember these areas. Remember how much they had before. And, you know, are they still there? What about areas around it? Are they bidding in front of it? Or are they pulling their bids and adding it to lower levels? What about the offer? That is a lot of data to keep in your head. All right. And we don't know if, you know, they may pull or not. Okay. So the problem here with this dome is that this is fleeting data. Okay. Once it is updates, that data is lost. Okay. So the problem, that problem is solved here by book map by showing the historical evolution of the dome here. So let me explain. Okay. I'm going to turn on the heat map here. All right. So, and let's zoom in here. Okay. So these numbers here are given in this window here. This is your current best bid and offer right now, the dash lines. Okay. And this number is the last traded volume. Okay. So these numbers here in the limit order book are given a graphical representation in the heat map. Very bright areas are high liquidity. Okay. So if it's darker is a lot less liquidity. Okay. And when these numbers, you know, when they add and pull liquidity, well, you're going to see the heat map change to represent that new state of the limit order book. Okay. Where this gets interesting is we record that data and then project it onto the chart. So these little striations that you can see in here, this was the adding and pulling of liquidity. Okay. And so they were showing some interest here on the bid and then they show it a little bit more and a little bit, then they pulled a little bit and then they added back in. Okay. So now we can start to gauge and understand these traders and answer those questions of how long they stayed in the book and their intent to trade. What about the areas around it? Well, it's all here. Okay. So let's zoom out. All right. And we can start to gauge and understand larger areas of liquidity that have stayed in the book. Look at this area here. Okay. At 6045, we're looking at it earlier and we see the breakdown here. Okay. This is actually a nice flip of the book. And what do I mean by that? High liquidity here on the bid flips to the offer. All right. Now it didn't stop these guys. They're still trading through it at the moment. But some nice battles kind of going on right now. But look at the areas down here between 6040 and 41. High liquidity. Okay. The sellers didn't even take them on. Okay. We see the nice move to the downside, but they did not go any further into this high liquidity down here. Okay. In this auction, they saw the buying interest here and decided not to take them on. We rotate up to find more sellers. We find them up here in the limit order book. We go right to them like a magnet. Okay. Yeah, JH, I think I covered this when you were in the room the other day. Understanding the high liquidity first and then understanding their intent to trade. Did they stay in the book or did they not? Okay. And we do show that. We show it very clearly. And just click on the move tool here, the hand. And we can zoom in. And let's take a look at this area right here. Did they trade or did they not? Well, it's pretty obvious, right? They polled. Okay. Although we do see transactions take place later. And we do have, you know, it's kind of fast and furious after this non-farm. But there's some latency here. And just let's just zoom out a little bit and just keep it in mind, though. So these guys here, they were waiting, right? And then they polled. And where do they pull and add to? Well, I mean, they were already here. They look like they pulled from these areas here and added here down below. Okay. So they're not interested in trading here. They're interested in trading here. Okay. We just found out a lot of information about this market. Okay. This was fake liquidity. I mean, they showed interest for a long time. And this is long-term liquidity, right? They stayed in here for quite a while. Okay. But in the end, they did not have the intent to trade. We just answered that question. Okay. And we also got a lot more insight to their behavior. Okay. Not so interested here at these levels. They're interested more at these levels down here and then down here. Okay. That's how this auction played out. Okay. And we made a distinction between longer-term liquidity and shorter-term liquidity and their intent to trade. Okay. Now, what we... I defined here the longer-term liquidity. What about that shorter-term liquidity? That's high liquidity that may jump into the book here like these guys here. But... And then they pull, right? They did not trade in this area here. Although we do see some transactions, they pulled in this area here, right? And here. And that shorter-term liquidity, it just stays in the book for a brief moment. Usually, we note that... Well, it's a lot of market-making activity between these areas of higher liquidity. And it's also these... They may have other... Well, they may be getting filled on micro-levels or for smaller moves. Or a lot of times, you see this kind of fake liquidity in these areas. Okay? Like in these areas here, they added, they added, but they're pulling as well. Right? And it skews the auction. And that starts to answer your question about the intent of these traders. Okay? That they're not really interested here. They're more interested here. Okay? And let's look at this area here. Okay? So, J.H., this answers your question very nicely. High liquidity, they stay in the book and they're getting filled here. Okay? The transactions are taking place within their liquidity. Did these guys have the intent to trade? Absolutely. Okay? There's no question about it. They're getting filled. Right? So, we know that they're interested traders here at this price level. Okay? And we saw that we didn't even... The buyers, they traded into them and they kind of, you know, it trickled off. Right? It kept them from trading through and taking these guys on. Okay? Now, here, they finally took them on and they traded through. Okay? They just took all of the liquidity. Right? And we see the move to the upside. Okay? So, anyway, I've gone over my time. I gave you the link here. I'm going to put it in here again. And you guys can join us now and we're going to jump over to the advanced webinar. There's the link if you came in late. And we'll continue on with the advanced analysis. Okay? All right, guys. Yep. See you there. Bye.