 So welcome to the bookmap platform details webinar risk disclaimer trading equities and futures involves substantial risk of loss is not suitable for all investors past performance is not indicative of future results for more information go to bookmap.com. And you can access a free trial which gives you access also to the advanced order flow webinars and other resources that we have for you. That's for the free trial it's a 14 day free trial and that advanced webinar if you sign up it starts at 11 Eastern every day. If you have any questions you can always reach out to us at support at bookmap.com. And let me show you where you can find that trial. Okay, so go to bookmap.com and I'll just go through the website really quickly here once you become a member you can click here. This link here is obviously for the free webinars that you guys are in right now and let's click on explore. There's some intro videos here that you might want to watch they're very short. They give you an overview of bookmap scroll down here you see all the different uses of bookmap and then we get to some of the partners that we have here a little bit further down some of the advantages here and then connectivity. So we are not a data provider we are a software platform you will need a data provider to connect bookmap to them to the live markets and this is who we who we support. Okay, here's where you find the trial basic in advanced and quant. Alright, so to be honest there's one version of bookmap and the rest of these different variations here. They're just different features that are added to bookmap that allow you a lot more robust functionality. Okay, so the basic here is 49 per month is billed quarterly. You get that 14 day free trial. The advanced is 99 billed quarterly and you also get the 14 day free trial. So the differences between the two here are the add-ons. Okay, first off the ability trade right from the bookmap chart. This is a nice benefit because you can see the liquidity in the market and you can manage your trading based on that. That's a really nice benefit. The other indicator add-ons that you see here, these are add-ons that we developed. They're for order flow specifically for these kinds of markets and to give you insight to what's going on in the limit order book as well as the traded volume and the larger players. What are the larger players doing? So our large lot tracker and our iceberg detector give you insight to that. Let's see. Andre, are there also hidden orders in the dome? The iceberg detector, I'll cover that in a little bit. So let me get through some of the housekeeping stuff here and then I'll get to your question. Now for those of you who are quants, you can learn more about it here. Click there. If you want to find out what version works for you, click here to get the complete list and you'll see everything listed here and what you're getting. So the quant, there's some very specific things that quants look at for their data set studies. Alright, let's see. You can follow us here on Twitter. You get most up-to-date information here. And then let's go down to our YouTube page here. You can subscribe to this and this will, you'll see the most, our complete cache is basically here online so that you can access all the videos here. It's also on our website but we have it all on our YouTube page too. Features and components, there's a playlist here. You can see all of them here. This just goes through basically, well, many of the different features in Bookmap but it doesn't get into the trading part. Now the order flow video snippets underneath, these really concise videos here, they do get into the trading part. In fact, this is the content that we cover in the advanced webinars that start at 11 Eastern. So you can watch some of these and get an idea of what we cover and then you can see it in detail in the webinar and ask questions. We also have our ProTrader webinar series that we had just last week so if you want to revisit some of those you can watch some of these professional traders and how they use Bookmap. Some of the selected webinars here. There's just some of the webinars that if you want to get a feel for what the advanced order flow webinars are like, you can watch some of these. We dive right into the order flow and don't go through any of this kind of housekeeping stuff or information about where to find things in Bookmap. It's really all about the order flow. Let's take a look here. We've been looking at oil all week and it's the one that's been moving so it's been good to be covering that. Right from the get-go on Monday when we saw the dollar strength coming in and anyway, oil has been moving to the upside. I'll answer your question here really quickly about the iceberg detector. In the limit order book here in the dome, this is the Bookmap Dome, the COB column here. This is where you find your depth of market. These are traders lined up here to provide liquidity. They want to deal at these specific levels. Now, sometimes more contracts trade than what is here, for example, on the bid. How is that possible? How can you actually trade more than what people are actually bidding? You can't. It's an impossible situation. Well, it is in the markets because you can use a hidden order type. You can hide your liquidity, but it's there. The price will come back down into that area and it will trade more than what is actually in the book. We capture the difference and we project it onto the chart here. 153 contracts here, which is a large size here for crude. 119 here, 48 here. We're getting insight. We're getting insight to where the larger players here are absorbing without showing liquidity. They're getting positioned and they're getting filled here with their hidden orders at these price levels. They are long here. If it's on the other side, they are short. There's also a red number in here that shows the same exact thing in the current order book in the columns here. Don't get confused by that right now. We've enhanced this indicator to show the historical evolution of the iceberg orders. For example, I know this is already getting into the advanced stuff pretty quickly here because even in the advanced webinars, we look at the indicator add-ons lastly as a confluence. In this case here, look how nicely it worked out. We see the position size of the larger players here. We can see that they started to lift the offer here pretty aggressively. We're up above at the top of this range here. This gives a lot of insight, a lot of times, looking at these iceberg indicators. In this case, it worked out really nicely. Let's see, market maker, would it be possible you can explain absorption? Sure. I just covered in detail the red and green numbers, so I hope that helps. That is absorbing. It is absorption. They are absorbing without being seen in the book. Why would they want to do that? Here, let's look at 52.25 right here. 171 contracts. That is showing that there are a lot of buyers here. They want to buy at this area. These guys are getting filled, they're front running that high liquidity here. The market may come down and trade into this area, but they want to make sure that they're getting their position on. You can see very consistently they have been. This is kind of a trick. Think about it, going to an auction. We use this auction analogy all the time. It truly is how the markets operate, and it works well. We can see here at 52.25 there's pretty high liquidity. Guys are getting filled before that. Usually the market knows it can trade here, but it's not going to reach it if these other guys are front running in front of that high liquidity. You can't see them. The sellers might think, I can get filled down here at 52.25 and they hit the bid really hard. They're getting absorbed here by the iceberg. Can you recognize HFT trading in this? Absolutely. Andre, it's all over the place. We can see here. I'm really getting off target here. I need to get into the basics because there's some other traders in here that are new traders and this is more for the advanced webinars. Absolutely. Look at this skew in the book here underneath on the bid, pressing price up into longer term liquidity up here and then they're starting to absorb up here. Potentially maybe some of these guys down here are starting to cover some of their position up here. All sorts of things going on. We'll see algorithmic activity. No question about it. It's really pretty fascinating to see because you don't, although a lot of these algos, they're working on microsecond or millisecond level or even nanosecond level, but you can still witness it here in Bookmap. We can drill into those areas. We're at millisecond level here. We can continue to zoom in and see exactly what occurred here down to micro or even nanosecond. All right. Now, let's back up here and let's take a look at what Bookmap is showing you. I just wanted to answer those questions since you guys asked those right away. We're going to start off here and for many of you who are new here, perhaps that was a bit of a foreign language. Let me start off here and we'll end up with that iceberg order. We'll see how this actually played out, but nice absorption down here, and that's exactly what Market Maker here is asking about. A lot of that's done with the icebergs here, as you can see. Anyway, let's take off some of the layers of information and just put on a candlestick chart. This is a five-minute candlestick chart in crude oil. We can see this downward trend so far. We can also see in a candlestick chart, you can start to look at some of the wicks and the bodies. It's open, high, low, close of a candle, of a time period. In this time period here, it opened up here. It went down all the way here and then it came back up. You can start to infer on this candlestick, well, there's probably buyers down here. There's buying pressure. Well, you can assume that, but we actually don't really know. We don't really know if it was down here. We don't know if it was up here. We don't know if this is exhaustion, lack of trading, and the market could not trade, so it rotated back up to where it could trade. All of this information is completely lost on this candlestick chart. We do have a volume sub column here or sub chart, but it's still not giving us the information and transparency we need. We need to know where the volume took place, where they're committed. What type of volume it is? Was it aggressive buying or selling? We want to see how much and really pinpoint some microstructures within this five-minute period. Let's turn on the historical best bid and offer, and this already gives us insight to microstructural areas. That is lacking here in this five-minute candlestick chart. For example, let's look at this move to the downside and let's see if we can start to notice some microstructural areas. There's a little bit here. You can see this is the beginning of that five-minute period, and here's the end, and this candlestick represents all of this action here. Look how this broke down here. It's pretty interesting, and this is microstructural, and this is what we look at all the time here in Bookmap because it gives us insight and transparency. For example, we came down here, moved back up, and then we had the break right here at $52.48. Look at the retest. Where do we come right back to? $52.48, or maybe $47 here. But basically, no, it's the same price level. It's exactly where we broke from right here. That is lacking here in this candlestick chart. We don't see any of that data. Just alone, historical best bid and offer is helping. Historical bid is the green line. Historical offer is the red line. This is unfolding levels of transparency that help us make more informed trading decisions. This is where you will probably find some sellers interested here. Probably a flip of the book. Liquidity that will be on this side will flip to the other side. Let's get into just the volume now, though. Where did the historical, or where did the transactions take place? Well, they take place on the historical best bid and offer. Let's turn on the volume dots and let's take a look here. In fact, it might have some studies on my volume dots. Let me just double check here. No, okay. I'm all good. All right. So we can see the volume really started to pick up here. Now we're starting to read exactly what type of volume it is and where it traded. This is really helping us here make much more informed trading decisions. We can see the type of volume here. Look at the aggressive selling. There's buying in here as well. But down in this area, at a lower low, we can see more selling than buying. This is giving us a lot of insight here. We come back up, test to where we broke from here and continue on down. A lot of selling down here. A lot of transactions in general. But we can see that, well, there's a lot of buying as well, but we can also see the selling in this area and in this area here. So now we know what comprised this candlestick. We can see that the majority of the selling or transactions took place down here within that five-minute period. That's on the wick. And we can see that we came back up to where we broke from here. And we can also note here, if we zoom in, and I'm going to zoom in precisely into this area here because I want to show you what kind of volume we're looking at. We're looking at here aggressive market buy orders and sell orders. A green dot is an aggressive market buy order. The reason being and why we consider aggressive is they cross the spread, they hit the market buy button, they wanted into the market. They did not provide liquidity. They did not wait at these levels like these other traders with their limit orders. They took the liquidity from these levels instead. And a green dot paints onto the screen. Same with a red dot. That is an aggressive market sell. Anyway, some of this is a VWAP displayed here very, very quickly. That's why we're down here at millisecond level, as you can see. But if I continue to zoom in, we'll really see the details here. This is exactly what occurred. Now we're down at microsecond level. We're looking at millions of seconds here. We can continue to zoom in. We can see every single event that took place. Now we're looking at billions of seconds down here at this level. Now we don't trade off of those levels. But note how we're showing you every single event now. But watch how I start to zoom out. And these dots will start to aggregate just visually. All of the data is still here. It's just visually aggregated. And we're giving you the VWAP here, most of it selling. But it's in between best bid and offer in this case. But it's just the VWAP. Volume weighted average price. And I continue to zoom out. And note how as I compress the timeline as I zoom out, you get these displays where you see the pie display. So many transactions took place here that we give you the overall of what occurred. And just looking at this one, you can see that the majority of it here is selling. Now if you want the actual number, you can use that, this tool, the rollover, data tip tool. And you can see the date, the time, what was on the bid, and then the volume here that traded. Okay, that's the volume. And now we have that clarity and we have that understanding of where these transactions are taking place. All right, now let me get to the limit order book and the liquidity. So getting insight with the volume is excellent. And having that within a microstructure is even better because we can understand the breaks of the structure and where the volume trades within that structure or outside of that structure. You're going to lack that kind of information in a footprint chart. So Bookmap offers the ability to see that microstructure because it's recording every single event. The footprint chart is going to aggregate as well just like a candlestick does within a period, a five minute period. And that's a nice leg up because we can then start to understand more volume trading above a little structure that's going to be lacking in a footprint chart. All right, now, so the volume is good. It's good to understand what's going on with the transactions, but we also want to know the other side of the story. Where are they lining up to deal? Where are they providing liquidity? And we look to the dome for that. And this is the dome and Bookmap, the current order book column. And we can see these numbers are changing all the time. These are sellers lined up on the offer providing liquidity. They want to sell at these price levels. It's on the bid here. Now, when these numbers change, it just means that these players are either adding or pulling their liquidity from the market and they change all day long. And, you know, it's good to see the insight. For example, look at this half figure here, 5250. There's 207 contracts, quite a few. It's really no surprise because it's even or half number here. But when these numbers change, you've lost that data. The dome gives you a really good picture of the current market, but it doesn't give you a good picture of what occurred there previously. So you have to memorize that. And that can be really challenging. So we solved that issue here by showing you the historical evolution of the dome. So, for example, let's look at this 5250 area here. Notice in this window here, which is the current best bid and offer right here with these two dashed lines. This is the highest traded volume. We have this heat map here. And this heat map is actually changing in the grayscale. This is the adding and pulling of liquidity. When these numbers change over here, the heat map changes to reflect that. So now we have an understanding graphically where high liquidity is. Look at 200 contracts just came in here at 44. Now they're pulling. And what does that look like now? Because we'll take this data and we will transpose it on the chart historically. So now you're seeing the tape, not only the tape, I mean the transactions, but the liquidity and how they're bidding and offering in this market. So now we can start to gauge their interest at these levels. So let's go look at that 44 area here. Zoom in and see the striations here in this little area. This is the adding and pulling of liquidity. So we can use this data tip tool. We see here the date, the time, and on the ask is 177 contracts. They bumped up to 188. They bumped it up to 202. Right here, they took a little bit away to 197. They took a lot away here. Now we're down to 180. And then they added back in. This is the adding and pulling of liquidity. And we can start to gauge the intent of these traders at these areas. So price came back up into this area and then they pulled. So did they want to trade? And the answer is no. If they wanted to trade, they would have remained here in the limit order book. So we've just identified fake liquidity. Okay. Here it is again. And Andre, this gets to your question about some of that algorithmic activity. Okay. In fact, if I zoom in here, we can identify very clearly some of the algorithmic activity. Note how they're pulling here and adding one below. It's got to be the same player because at this very moment, same moment, they pull from here and add lower. And then they pull from here and add lower as well. Okay. Just like a piece of a puzzle here. So we are identifying this algo. Okay. And we're identifying them adding and pulling liquidity without the intent to trade here. Okay. They don't want to trade. It looks to us that some of this longer term liquidity up here, though, it's staying in the book. Okay. When price comes up here, we'll see if they continue to stay here in the book. But the longer term liquidity, it appears at this moment, everything we know, they are staying here and they do want to trade. Okay. All right. Anyway, putting all these pieces together, let's end up, I'll get to your questions, but I do want to end up with that iceberg indicator here. And then let's take the candlesticks off here as well because we've gone through that. We see the absorption down here before this high liquidity area and we see the initiated buyers come in and lift the offer up out of this little structural area. Okay. And so far we are accepting above. You can even see the retest here and the exhaustion in these little areas here. And then the move to the upside. Okay. All right. So I know that's quite a bit because quite a lot, but I started off answering the question about the icebergs so I thought I would end up with it there too. A few more questions. How is it possible to see in these big circles who are the market? Okay. Well, market maker, you would use this rollover tool or you can use your data columns as well. Okay. You can put it within the chart range. But I would recommend just using the rollover tool. You see 745 contracts here. If you want more information, zoom in and we'll pull that apart and then you'll really get an understanding of what occurred here. Okay. And then you can look at your chart range volume profile here. This is the volume that traded within our viewable chart range and we can see exactly what traded. Okay. And if you want to split that out, you can just right click here in this column. You can choose format and we can split out the data here with the style options. Okay. And now I have exact data here for what occurred within this range. Okay. 395 on the bid or I'm sorry, aggressive buying and then 180 aggressive selling at 5,240. All right. And then you can just use this if you want to look at the individual trades. You can also do that by rolling over here. Now, you know, this one says 43 for example, but if I continue to zoom in here, you're just going to note how really what really occurred here. All right. And it is 42 trades as we can see here, our trade count or our, I'm sorry, 42 contracts. You can see the volume here. But this is really what occurred and this is just how these markets trade algorithmically. They're not going to show their size by one trade for 42. They're going to break it up into many. All right. Okay. Andre. Okay. This is a good question. Are we planning to show some live trades? Well, we are not a trading room. All right. We're not a subscription service for a trading room. We are a platform. I can, you know, show you some things about some of the, some of the trading activity are, you know, functionality. But, you know, I'm not going to go over a specific trading style nor, you know, specific trades because that is up for educators to handle. You know, we're a platform. Just think of like Ninja. Would you ask Ninja trader? Well, can you show me some, some live trades from a, from a trading style? Well, they would say, no, I mean, you know, there's all sorts of ways to trade. We're providing you a platform. It's up for the user. Now that said, the advanced webinars, which I'm late to, I've got to run. The, we do go through the analysis here, just like we did here. Okay. And what we will point out in the advanced webinars is anticipation of price movement. Okay. By reading the order flow, like right here, this looks good. We notice the absorption down here. And then we see them lift the offer. I'm looking for pullbacks into these areas here. I'm looking for areas of exhaustion. It played out really nicely here. I'm looking for the aggressor to come right back in and lift the market higher. Okay. And that's what happened. Now you can see the sellers jumped in here on the other side, but this kind of analysis is reserved for the advanced traders. Once they've gone through a lot of the platform details and understand what they're looking at. And if you're interested in that, then I'd recommend giving the trial a try. It's 14 days and get access there and ask all your questions there. Okay. All right, guys. Trade station, I'm not sure about that. I know that's one of the big three that we're looking at, JH, but we do not connect to Trade Station at the moment. All right. All right, guys. I will catch up with you tomorrow. And else, if you're in trial, we'll see you just in the other webinar here. Okay. Thanks.