 Good evening or good morning to you depending on where you are in the world. We are here for another hour on a Wednesday morning New York time. 8am Eastern I'll just quickly do the disclosures. All book map limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Trading futures, equities and digital currencies involve substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. Good morning to you Marius as well. Good morning. We will quickly flick through what we are doing again, same format as recently. Education ideas, ETH setups, I'm going to actually just look back live on that one so that I am not doing any kind of preparation in advance to show you what I saw. I have been out and about doing a few other things today, Australian time. So that is really just my eyes seeing it at the same time as your eyes. You may have traded it. We'll do some live water flow and we'll do some prep context for today. Let's check that the streaming is working okay. That's fine so you've got ES live there. Firstly I just wanted to say that I have done something different in the book map setup for today especially and there is a reason why. If I click across to the book map web page with pricing I'm aware that there are going to be people here that are on a budget. They've got a strict budget that they adhere to for all their trading requirements and so they may not either be willing at this stage or not interested at this stage in all the additional add-ons, bells, whistles, you name it that are in some of the book map additions and add-ons. For example, this global pricing which is 49 per month unless you go yearly and it drops down to 39 per month or lifetime 990. When I first started using book map in 2014 I believe it was and when it first launched I got that global lifetime license so I paid for it with the price at that time. It is an inflation element so it goes up year upon year but that is something I was using basic book map for years and years and you can spend your time, another time offline just looking through all the features and the comparison set between the global and the global plus and I'll just get rid of that web page but what I wanted to do for this webinar was just put ourselves in the eyes of somebody that is just subscribing to book map global, the basic package that covers futures like ES and NQ and not necessarily have all these extra features thrown in to see how it adds value or if it adds value to what they are doing whether they're doing the supply and demand or retesting of key areas like I'm doing or whether they're doing a completely different form of trading. That was my idea so you can see that in these I've turned them all off all these add-ons that are available to me I have turned off. I have also done what a lot of people seem to do in book map which is in the volume dots even though I've got the minimum volume of 40 in ES and 10 in NQ I think it's 10 or 5 I can't remember. I've put the volume delta on just for this purpose because I know a lot of people trade ES and they prefer the delta maybe it's just the maybe looks cleaner for them so I thought yeah let's just do that for this session I am not doing this webinar where we do exactly the same thing again and again I mean one of the things I sorry if the microphone is just in line with my lips again one of the things that I don't believe in is getting into a regime which doesn't benefit your market trading. What do I mean by that? I mean that the market even though they play the same games often they may even do the same game on two successive days they love to vary up those games and so you have to be adaptable regardless of whether you trade just in ETH or just in RTH or both you have to be adaptable to adapt to the overall market conditions the context and also the type of liquidity games that we are going to see in book map which will not necessarily be the same day after day after day. Okay with that said let me reiterate as well that I do answer questions or comments that appear in either the book map Moby ETH Futures channel or in the YouTube channel and good morning Tepeche I can see you're there I've got that on a very small font so I can actually get the whole of the YouTube page in but I can see it and it is working okay. So let the market do what it's doing and let's get some context as to what may be coming up so we'll just switch over to the slideshow and just move across so the first thing is a quick little look at today's calendar I was aware obviously coming into this hour that we've got nothing really major in terms of a red category high high priority we've got orange at 8.30 which is the core durable goods or the durable goods and you've got crude inventories at 10.30 there was an FOM speaker, Kashkari did speak at 8.00 it's 8.06 at the moment I don't know whether he's still speaking but I can't see any major volatility that suddenly appeared in ES so maybe it'll happen while he's speaking but at the moment there is nothing so just really the only really market making move for our purposes is the 8.30 and it is unlikely there will be major major volatility for that one but there may be again we cannot predict the future alright okay context again I have not changed these trend lines this is the ES Daily these are the trend lines that have been in every webinar for the last few weeks I've left them on for a purpose the higher one is the shorter multi-month uptrend which kicked off in May the longer one I can't scroll back because this is a screenshot but it's longer than May obviously and we have now retested it so great we've had a bounce these trend lines are not predictive they are just an objective piece of market generated information the reason why I often use trend lines and I'll use them just as much on a 10 second chart as I will on a daily chart is because they can often be a better approximation of where liquidity is or is supporting price than anything else such as an indicator that people use again I reiterate that I've coded just about every mathematical price derived indicator that there is out there and I do not see any edge in any of those some of mine that I coded are freely available on TradingView and feel free to try them out but yeah so my point is that we are coming to a trend line where there may be some liquidity that appears that trend line has confluence with yesterday's settlement which is denoted as T plus 1 on this chart that's ES and if we move across to NQ broken that not decisively but broken it to some extent that's that lower trend line so yeah there's a good question where's the all-pan let's drag it on here so you know there is a good argument for saying if you're going to start drawing trend lines there's one there's one there there's a down trend in play anyway let's just get rid of that I've left those on maybe next week I will remove those lines and we'll just start afresh if any of you do ever get into trend lines one of the beauties about them is that you can just scrub them and just start again it's actually a really really good habit to get into price will do what price does and if the lines that you had on your screen are not representative of what is happening in terms of price at the moment then get rid of them okay let's move on oh yeah there is a question hold on let's move on to the next screen the epic pen is interfering with my anyway let's read the question can you please show us the SI indicator and how that can help us fall setups I'm sorry I can't for this purpose today if you missed my intro a few minutes ago there's a reason why I am not putting the SI onto the charts today I wanted to demonstrate what book map can look like without any of the add-ons you can have and also in terms of being able to read the liquidity rule that's R-A-W rule it's a skill there is no definitive way of doing it and it is a skill that you pick up with time through experience and seeing how price interacts with liquidity in terms of structure in terms of other context such as what the other markets are doing the key options levels there might be whether they are moving money through some of the ETFs who knows the purpose of the sorry not the right one get rid of that the purpose of having this without the SI here today is to read this liquidity map rule this is assuming that somebody has come in interested in trying out book map they have plumped out for $39 for a month subscription and they want to see how it can go for them and I just want to show them its value or maybe it is not value it's sort of how it might be used for them in their ETH trading and we'll also look at RTH if we get the time so that's why I am not showing the SI in today's webinar excuse me I have been finding a cold but keep on going I may well put it back on Fridays but the idea is we are going to challenge ourselves to have different ideas about the market in each of these webinars it's not just to make them interesting it's also to keep our minds flexible to keep them malleable so today's purpose is we are going to look at microstructure we are going to look at order flow we are going to look at liquidity changing in its most raw version in book map and that's when you zoom right in to the microsecond or the millisecond without any benefit of any indicators I am aware that you have got the book map SI you have got some of the liquidity markers you have got some of the third party add-ons some of the vendors which relate to the icebergs an aggregated picture of the stops over a certain position I am not talking about the SI one I am talking about some of the other third party vendors but there is absolutely no harm to stop for a second and look at the action raw and see whether it helps or hinders you in any way and the only person that can answer that is you you can answer it subjectively in terms of how you are looking at the market and objectively perhaps in some of the results you are being followed by a lot of different things not just by how a liquidity heat map looks let's get back to the slide I hope I answered that question that's why I have not got the SI on the reason why I have got a 15 minutes in ETH is because you have the whole of the previous day's RTH session visible to you remember I have four monitors this is on one of my larger monitors it is not actually near my eyes in terms of line of sight it is more a peripheral vision thing but I would just like to see what happened in RTH and you can see it here and how ETH has related to that purely from a price candle type perspective and the lines that I tend to have here will be the globe X yesterday low will have a line yesterday's high that is the globe X will have a line and yesterday's mid high in the sense that it was lower than yesterday's globe X I will not have a line but it will be marked on the chart so it is to give perspective because when we are in ETH remember we are not trading a true open market and what I mean by that and I have said it before is that the stocks that underlie the ES and the NQ are not fully open there is pre-market trading at the beginning of the Asian session and it appears about an hour into the London session about 4.15, 4.30 depending on the individual stocks about that kind of time here but it is not truly open the real market activity in terms of volume happens from the 9.30 we are moving on NQ same picture really and we will get into the profiles in a second this is just a broad context and the DAX and the Eurostocks did it at the London Open but we will get to that because I can always drag the trading view chart in profiles let's look at the profiles the interesting thing to note on this ES profile is the range i.e. good range the fact that it was pretty skinny as well distributed throughout that range and that we are really smack bang in the middle of it distribution is quite normal in other words it is a bell curve type distribution so we seem to be in a wide ranging value in ES at the moment in ETH suggesting two sided trade in other words that if you found good setups to go both long and to short why wouldn't you take them as long as they were in accordance with your trading plan and that is the most fundamental part of this okay and the NQ1 doesn't look as long as the ES did but one thing to bear in mind when I did these screenshots is that these profiles are not relative so if I drag in let's drag in the ES one let's just go to the display capture card for a second and drag in come on chart let's drag you in let's drag that in and if I go to volume profiles relative so I've just switched those so that all of these the width of the volume profile which is the grey line the little blocks are time and the dark grey line along is actual volume they are now relative to each other so in other words when you see this peak here being fatter than the peaks on any of the other profiles and ignore the ETH because ETH is going to be much less the ETH is always shaded grey for me that is the most important balance or high volume node of all of this range so that's the only reason why I just drag that back in for you and if you go back to individual they're all sized on their own so you don't get that same idea but you get the shape better when you have a look at them individually okay and the stuff here is option stuff that I use I'm not going to talk about I'll leave it to my colleague Doug to do book map options I don't really look at options related stuff in book map I look at it on other platforms okay let's go back to the image slide that's the context for today there's one other slide that I wanted to come to okay hopefully that's on screen now I'm just reading some of the comments on the YouTube channel just commenting on Vixen Spy no I won't be live during the open this is just a one hour breakfast show we cover ETH action I occasionally do the London open live but we don't do the RTH open there are quite a few presenters in book map land that do live webinars during the actual session and Tom for example and Bruce obviously but no I won't be anyway going back to this right I mentioned that I did not have any of those add-ons displayed today but this is actually related to add-ons so I'll read it to you anyway this is in the if you've got access to the beta channels in the book map discord you should be able to find this one under beta channels and then market pulse so we've got a new person here Naomi or Noam and she is working on some enhancements on the market pulse add-on and in particular three new algos our team has developed several new features that you'll be able to test three new algos the ability to combine multiple data sources for the same algo and the point here is that if you go to this channel and you click on any of these three emoticons maybe there'll be four by then but there's currently three emoticons that will then DM you direct message you and invite you to join the the beta so you get to try these add-ons and I cannot stress to you enough that bringing in new ideas for you to think about or for left field thinking in terms of how other people have developed things such as algos can actually be beneficial to your trading there's one thing that I will do when we start doing our visual strategy and drawing a second but education is so important to you and having a close mind means that you are less likely to adapt to a market as it evolves so just just to highlight that that happened this afternoon or morning New York time so if you want to join go ahead it's free to join that beta I did join okay let's go back to the stream okay and let's go back to book map there's not an awful lot that's happened in the last few minutes so we haven't really missed very much so it might well be time to go back in time I put in the book map discord or my book map discord channel that one of the things I saw was this huge liquidity level here in NQ at 14 7 1 6 7 1 5 and if we go back to where it came in it's when there was a low at the Japan open and the markets basically been well above there since then but they've they've flagged it they've advertised it as a level that they love to trade at again 150 resting liquidity is a large number in NQ and it just remains a point of interest even though it is an advertisement I do treat it as market generated information because I am always interested in where these larger players are advertising liquidity sadly in NQ we're now a good couple of weeks into the December futures contract and we've still got these heavy algo bands which kind of I don't know discolor the liquidity picture inside book map for NQ futures and the reason why they discolor it is because you've got 41 and 60 above and you've got 70 and 34 below so basically you've got 40 and 65 on both sides you've got two large liquidity levels which are essentially much bigger than anything else on a thin market so they will come up as bright orange and it is incredibly hard to filter those out from the native settings I mean even if using your own platform it would be quite hard to write and I'll go to filter those out you basically have to specifically identify them as one lot and then hide that one lot but it wouldn't necessarily be easy because you need an ID marker for that each and every day which would probably change okay so yeah just so that let's have a look at the London Opener I think some of the action and I said that I did not trade this I was out and about I've got a few things at the moment and I will get into that in terms of what does somebody that basically trades full time it do for 24 hours a day and I do want to discuss that because it's one of those topics which I don't know I think there's a lot of misinformation about especially when you see those ridiculous YouTube videos that go on about people trading for an hour a day and then spending their life at the beach because I really really get kind of bored I wouldn't say annoyed but bored I've seen those adverts on YouTube time and time again okay let's have a look at the London Open in ES and let's just bring this back in again just as as background okay what we've said I don't think stocks is the best example but the DAX is and the dark green line is its settlement from yesterday and 3 o'clock 3am is the London Open hey Stephen welcome aboard so what I'd like to point out and this is part of this overnight drift that we discussed the other day was the markets for one reason there's just one of the reasons they like to tag home which is and one of those reasons which that drift paper discussed was is likely to be inventory imbalance at this level so that is one of the reasons why they want to tag it so if we come into the London Open and we've gone on a nice down swing in the DAX and then you can see they drive straight through yes they settle in and they kept driving it higher so it's just interesting to note that as we got into the London Open we were on a down swing and we were well below and yet we were inside we were well inside range or yesterday's range on ES and NQ that I showed you if I click across to that one for ES just the low in London split that out you can see the low is still which is about the 3am was still well inside this overall value of yesterday's range suggesting that after 1, 2, 3, 4 really big days down there was a possibility maybe even a probability that we weren't going to have a great big down trending session in London the other thing to note that try to get that one and see if that's exactly the right time note it's not it's pretty best to do it over here on this side here 3am yet where was that that was at 4, 3, 25 so 4, 3, 25 about about there London so that's the London open there we were even though we had tagged settlement not settlement sorry where's settlement settlement has not been tagged so yeah it's here you can disregard what I was about to say I'm talking about any kind of drive towards settlement that has not been tagged yet that's interesting okay I will yeah the only point from looking at this TPO profile is that we are essentially in a value or this value here so if we drew this before we went into the London open we'd have this nice value range which is essentially all the way down that pretty good there down to about there a big big value area on yesterday's and so it could be quite possible that we're just going to stay within that large value area rather than continue any major trend exploration down you know if you if you went off and looked at some of these option support levels you might have found some other reasons why it may not initially explore much further down let me get rid of that and let me get back onto that and let us just have a look I just want to have a look because you can see something happening in NQ now and we've got that liquidity that we mentioned earlier so that even though we are currently looking at the London open drive upwards as DAX tagged its settlement and then higher I'm just curious to see okay since this is something that I have not been showing recently which is these delta dots I don't know I mean feel free to voice your views or your preference feel free to make comments in any of those channels so whether you prefer that so I mean on the swing down I'm talking about the swing or time to draw let's draw hopefully this pen works today because it didn't work the other day yep it is working today on this one of the advantages of the delta may be proven to us here right if you look here all the large dots maybe I'll go back to the mouse for this one all the large dots on this big swing down remember we were I'll just say this we were in a little bouncing micro structure here sort of basically around about there and we've now broken down out of it but all the movement down on this swing down and that's now already out of position so I'll get rid of it were large magenta dots I use cell dots market cells so yeah I'd be interested to know whether people prefer that to the volume base and we should compare them I mean since we can compare them if I get that out of the way I'll turn those into total volume dots I mean maybe you do prefer them maybe it's clearer that on that push down I'll be a bit fairer the volume dots because we'll go up to 10 yeah maybe it's not as clear in that in that move down unless you bumped up the volume to 20 that that was majorly a bunch of cells bringing that down and that's interesting because you know there is a there is a probability theory that if you have a bounce area and you know the break down shows a lot of interested sellers with size there is a good likelihood of continuation you know that's the old Elliott theory second wave kind of concept so it's just interesting to see whether people actually prefer seeing that through the the delta or the yeah so with a volume filter of 10 now so every individual trade is got a volume of 10 not delta of 10 and we're just showing the delta bubbles it's quite clear if we're looking at the larger trades on this move down the vast majority of those were sells and we also have this as an ultimate target here if we are going to get a proper breakdown the any problem here that I see if you do use this is if it's going to come back and retest a particular large trade size it's very hard to see what that is and here we go we have 830 this is the coreable goods news so it's a good thing we are watching it live it's very best to watch this name Q than ES simply because it's not one of the major major news releases I mean if we flipped across to ES it's breaking down a little bit and you've got two liquidity levels you've got that nice one there that's just taken out although it did not interact I don't think there's any interaction there they pulled that liquidity out of the way and it's often a good sign that they want to go a little bit lower and in Q you've got this liquidity they've now adding quite a bunch of liquidity and it's interesting as well that these algo bands which got removed just before the 830 news release have not been put on straight away they've just been put on now but it was a pleasant picture you can see how clean that is if we zoom in how clean that picture is which is the picture of the September contract and the June contract in comparison with the picture that we've been getting of this December contract with these algo borders, it's horrible they did that in crude about two years ago kind of ruined the picture or distorted the picture somewhat for quite a few months I'm just going to go to the YouTube channel Ibert, I'll read your question out what is the by the way, we are having quite a good pullback, so we've basically gone straight back to the scene of the crime and gone higher so far in NQ one of the things that has not changed in any of these webinars is this delta column, so keep an eye on that if you're looking to trap a player, you're looking at the top to have a really big bank of green and at the bottom this one basically is already at bar one level whereas the top level it's got quite a thick red level so there's potential for that red to be trapped I'm expecting some games and eventually it to start heading lower but we are in balance so choppy behaviour is expected going back to Ibert's question what is the best feed to use for a beginner to paper trade futures before going live there isn't really a feed that I recommend if you want to use the SI indicator you would have to use Rhythmic because it's the only one that provides the extra data within the data feed to give you the information on the MBO stops and MBO icebergs so going back to this delta column I was saying when you want the buys to be trapped to get some fuel to go down you do not want to see a big fat seller towards the top which it was very very close to the top there that's the last thing you want to see in that delta column because it means that they are more likely to be trapped and you're going to continue higher before any move down so unfortunately that's what happens so our level way way below is currently irrelevant you can see this as well that they've removed most of the liquidity at this 147.30 and this 147.15 to the extent that they've advertised it from there for hours and hours that could well be an RTH game and it may be something that is not touched for the next 57 minutes and you've got these two liquidity levels up above up at 14800 round number again and the one at 147.97 and they're getting a bit closer to that so we've just got shop within a big value range from yesterday at the moment and you just have to be aware of it or I recommend you're aware of it going across to ES you've got these again I always recommend zooming out to see how these bands look when they're zoomed out and this is especially so because we have none of these other add-ons to help us so you can see here even before price got into this heavy band of liquidity there there was a probability that that could be a support level and in terms of the action that actually happened there it's a pretty good spring you've got a nice double bottom there takes it out an immediate rejection and over here on the right this is what we want to see when we want to see some trap fuel we want to see a big fat red tail all the way to the bottom even better is where it has a lovely little tail which means it could be something in terms of an auction finishing for quite some time you know that's the concept of a strong high and low versus a poor high and low a poor high and low is where the tail is quite fat it doesn't taper off and this one and a strong one is where it does taper off and that one you can see tapers off quite substantially if I was going to widen that column out because I want to save as much space as possible you get the picture and you've got this liquidity up here that they're drawing them towards and this is where having a 3 minute, 1 minute, 5 minute whatever time period you want can be quite useful so you can see the structure up above so you can see this little triangle kind of formation where they broke down they had like a triple bottom spring, lovely clean spring and now they're bouncing and they're trying to bounce as high as they can and they've got this liquidity wall up above that may be both a magnetic target and maybe resistance but we shall see maybe resistance in the sense that if it is a choppy day it could well be resistance and we could just go back down again and chop and chop and chop okay you have no time for the beach yeah I'm going to get into that I too have my own little drawing and we are going to draw what on earth somebody does that does intraday trading maybe swing trading along trading as well but yeah I'll get into that one the action is a tad slow but yeah it's moving along let's have a look at NQ we have not really gone back into the ETH drive sorry the London open drive yet really don't like these argobands I think they're just horrible in terms of how they distort the the heat map but these two levels up here are the interesting ones in terms of resting liquidity those are the eventual magnets you've got these two up here and then you've got the one at 715 below so those are the only ones in terms of resting liquidity that you would pay much attention to at this time of the day of course you're free to do whatever you want to do but just saying that in terms of what I am looking at on this heat map those are the only three resting liquidity areas in NQ that are of any interest to me and these argoboundries okay yeah I do have a drawing page where I was going to draw oh yep I forgot there is in my little ideas section where I haven't really done a 15 minute concentrated session but I just wanted to go through I like looking at tools which are free to all of you if you had a free trading view account this is still there so when we've been looking at this heat map here in trading view and again I'm only showing it to you because it helps you set out the context in your mind before you start your RTH day or before you start your ETH day or both depending on what you do this is a really good way to capture what's been going on so for the month for the last week etc but there are a couple of new features that they've added and you can change it from the S&P to whatever you want like the Nasdaq or whatever anyway well let's leave it on S&P you can always explore that in your own time and I do stress it's free so feel free to do it but in terms of things that are new yeah they've got a couple of new features they've got these three down here which is relative volume so yeah they've tracked the volume of Microsoft say for the last whatever it is that they track it against and yesterday was 1.19 I'm guessing it's against a parameter of 1 so that was significantly above but it's just interesting to note which of these stocks because the idea is to see what might be the flavour of the month in terms of you know this is the thing that is driving the market for example if this had existed when Tesla was the flavour of the month day after day after day and in turn by consequence the Nasdaq but you know if you were trading Nasdaq futures during that period when it was Tesla Tesla Tesla if you had this around and you could see quite clearly that Tesla's relative volume was high or its volatility was really high and you can see where the real volatility was in terms of the stocks yesterday what was up really high those two there, Amazon and Google that would mean that you know when you were trading a Nasdaq futures if you had a Tesla chart to hand that would be the one that you would use in your correlation and confluences both in pre-market and in RTH but yeah I just wanted to show you these new features that you might not be aware of and remember you can always drill down, you can change markets you can even go to Australia you know if you want to see the natural gas and oil place in the world you'd go there but I wouldn't drag that up or bore anyone okay get rid of just going to get rid of that one and we will draw but let's just have a look at the market at the same time I'm aware that we are also a live analysis and commentary hour so I should not ignore that I'm also reading a question in the oh that's a relevant question to what I just have been showing Janice yes I will answer that question straight away Janice is asking is that session volume profile or chart volume profile used for delta split I use chart volume profile simply because if you zoom in and out it changes to reflect what you're looking at so you know if for example we were looking at this little bouncing zone just up here have all of that now you would be looking at that there right this is before the breakdown in ES we saw it was quite a big breakdown and you'd be looking at the deltas and thinking hold on a second that's quite a lot of bi-delta that is trapped in this micro-balanced zone and we've also got some resistance up above you know if they managed to get it down below this and this is before we had that breakout if they managed to get it down you can see they're beginning to try and then they did the idea is that we could move there are lots of theories on how far price can move when it breaks out of a balance I think one of the earliest things I read was like that 200% so I can draw this in rectangles let's draw it in rectangles so if the micro-balance was like that there's some theory that you would then say that the breakout that would be twice as high so in other words that would be 1 and that would be 2 going in the right area that would be 2h so the idea is that's twice as high as that on the breakdown as that your initial target should that breakout of a balance zone again no harm having these theories test them yourself to see how often they do play out and remember that is also that's got confluence with auction theories, blind demand that's why one of the things what do I do now that I've known about that for years and years do I take that too seriously no do I accept that if we're in balance area and we go exploring it can go in a long way yes that's how I play it so I play it in r multiples and I also play it in manual trailing off stops let me get rid of all of that and get back to the cursor so yeah that was actually really really quite nice so you've got this little balance area test right back up to the balance area after breaks down and we're testing almost back into it again but we did have a nice breakdown which was tradable and that's why that was a good example of why I find that delta column useful I find the CVP also useful because it shows you numbers so if we zoomed in vertically you'd get the actual numbers traded in this part of the chart and also you know you can have look at these rollovers or these unfinished auctions that I've mentioned in previous sessions by looking down at the extreme of the profile what has traded down there and that's quite a large unfinished auction because you can add the two numbers up but in fact you've traded both the sell and the buy price down there and you know there is a large number but you have to make sure you scroll out the right part of that yep so yeah so is it likely to come and take that out at some point later yes but does that mean that will happen in the very very near future no again nothing is predictive of the immediate future nobody knows what's going to happen in the next second or two we had more questions than we normally have today so I've been trying to answer them ok so I've answered bellions I've answered oh how is the delta column configured ok it's not is the answer the answer is it is it's like a native column within book map so if we go into configure the column you'll find that it's just as it is so are we including both sides yes are we doing delta only yes and am I doing bars and numbers for the simple reason is I've already got numbers over there and if you have too many numbers on your chart you're going to go mad you can't keep reading them all there's a reason why I've got the numbers in the CVP and I'll just explain why because I'm looking at poor highs and lows and strong highs and lows that's the reason I've got those numbers and that's the only real reason I've got those numbers and that's basically it so it's just you know it's a native column and I'm just choosing the delta option I've ticked it rather than not ticking it you know if I didn't tick it it would go back to the normal kind of CVP stuff you tick it and it becomes delta it's sort of you know you've got to use oh my sorry my opinion is you've got to use every good feature that can help you in a practical sense in your own trading and I do see that one I mean we do talk a lot about NQ in this I mean maybe this is the time to have a look at when it reached its high earlier after this big drive up let's go back in time because I have a feeling that this would have been quite useful it normally is yep is that the high 730 no it's not the high but that's a local high so that's this high here right and you can see even at this high here the 730 high and if you zoom out vertically you've got one maybe two little price levels there but that is a great big block of buy delta at the top my colleague Tom has got a saying and I recommend that you memorize the saying markets go up to go down markets go down to go up when they go up to go down they're going up to collect these buyers as fuel to go down so you'll see that time and time again if you've got a platform and show you this clearly and by clearly I'm talking here in the shape and the color whatever colors you want to if you're not aware of it you can just set those up in color settings up there I set this up as green magenta because I just found it easier to see on the heat map than anything else if you've got something that can really help you and you want to use it in your trigger for your trading here if we look at this 730 high you drill into it so I've really zoomed in vertically and you know you can see here I mean if we just use these delta dots even with this because I've got a price line here you can see that's like a one tick failure so it's a breakup below this previous little high and fails and it fails big you know you can see that price action that's kind of a dramatic you know it probably went through two or three price levels without any trades it's called a sweep it swept the book when you got a vertical price line like that and even if you zoom it right in you can see that that was a vertical price line so that is another way of seeing a stop the SI indicator is great if you haven't got it that's still quite good and that can be a kickstart for a move which it was in this scenario but the other thing that you do with your trigger might have been this big delta profile block at the top sorry I'm just reading Bayon's latest comment delta is not an option CVP or thinkorswim book map okay sorry I've never used that in thinkorswim I've used thinkorswim for options stuff but never looked at the book map so I've always been a lifetime an owner of a lifetime license for quite a long time so I've never had to use it in thinkorswim anyway that was just an example of how that delta block so you managed to get in and we talk about Rs and let's talk about those Rs here so you got in and what we've talked about at this time say you get a six point stop so you get in you might have got in just around about here you never have got in there but you might have got in around about the 76 level and you'd have had to stop up at the 81 level and you're saying but I couldn't put my stop behind this but this is nonsense this is just algo boundaries that's not real liquidity it's just market maker bordering the market so I really would ignore that maybe this is real liquidity but most of this is rubbish so a five or six point stop why? because you want a tight stop because you're going to make more money and at the end of the day why are you doing this to make money and I harp on about this but I believe in equal dollar risk bets so I'm saying that regardless of whether you have a six point stop or you have a 20 point stop the idea is to risk the same dollars you either do that mechanically manually so you multiply you have a calculator you have a set of numbers in front of you so you know how many contracts to put on say you're risking 250 or 125 or 500 dollars each trade you know that if you've got a six point trade that is the number of contracts to achieve that 250 or 500 dollar risk I hated doing that personally so what did I do? I programmed something so that when I do that in Sierra I know if my 1% of my account balance happened to be 250 every time I take a 1R bet I lose 250 when I say I lose it means that I have to mentally accept that if I'm wrong and this suddenly shoots up and takes out that six points that is 250 gone and there's nothing I can do about it because I placed a trade there oh sorry there the 76 mark and say let us draw a line hack where are the lines you have say a stop around about 80, 182 there and you've got that and you've got a six point thing there I'll just draw that as an arrow head so it's clear and then we have a good drop straight away this is literally just under 10 minutes and you can see from 76 down to 56 you've got 20 so essentially that is a 3R and part of the key to that is this delta block as a trigger you didn't have any great resting liquidity you did have structure you had a nice micro balance you had a one tick breakout failure it broke up failed to go any higher immediately came back down you have to devise your own triggers yourself I'm just saying that that is one to look at because it's a fuel based trigger okay and I don't know you can see these things I mean I could do something like that in CRB the way they do it in bookmap and the fact that you can zoom in and out of this one so well and you can drag this backwards and forwards yeah I found it to be a very good practical practical application of seeing trapped players let us get rid of all of that oh question how long have I been using bookmap on already 2014 I had a lifetime license I think it basically had a double launch had like an initial close launch then it had a wider public launch to the world as part of the wider one so and they had a special offer for whatever dollar value it was at the time and I took out the equivalent of a global lifetime license then which I still have because it's a lifetime license then they have honored it okay write any more questions up there no not on YouTube okay so a quick reminder ah so it turns out and remember when we have these resting liquidity levels they are adverts right I do trust them as in the sense that their market generated information because they are they're generated by a large player in the market it does not mean that they will get filled quite often more often than not large resting liquidity in NQ they will get filled but this is not the case on this one it has now been removed okay and they've added something large a little bit lower it's a big round number a hundred at the hundred I tend to ignore round numbers so I'm now not overly focused on any liquidity below I mean some of this stuff that I haven't zoomed in but it's just zoomed out maybe of interest but not much I mean that at the moment is more interesting to me this 76 above and that's only been in there since 8am since we started actually and going across to ES we're really not doing a lot we're just chopping in this you can see that after that break you know we had that little area here it broke down and we've now got a wider balancing zone you can see that so you know if I got the old box out again essentially we are in a really wide balancing area and you can see that as well by the shape of the CVP the chart volume profile over there it really looks quite balanced so even though these people were trapped and to get us to move down and we saw that previously you know sooner or later they may not be trapped anymore we might be up there and then pushing higher who knows anyway yeah there was one other thing I wanted to talk about so maybe we should go and do that we have six minutes so it's really going to be a very quick one where there come on it's not letting me do it because I'm not clicking on the cursor okay alright okay I um yeah I've toyed with this whole question of what is a full-time day trader and I've toyed with that for a few years right I don't think it's something that can really really really be done in the sense of let's just draw an arrow here and another box in the sense of 24 hours per day as in that's all you do is that yeah my personal view is sorry try again okay and the reason why I don't think that's such a good idea is because good arrow would not leave me low I'm still learning that so I love this to work skeletal but so I mean I could just go on and on in that box but there's a reason why I don't think anybody should do this 24 hours a day and by 24 hours I'm just extrapolating I know that none of us are going to be awake 24 hours a day I'm just talking about say you sleep 8 hours a day and you might go for a run or whatever and eat a couple of meals and actually see some people so that 24 hours maybe 10 hours or 12 hours or 14 hours whatever I don't think it's a good idea and I don't think it is healthy what do I think is an alternative right an alternative is you do some contracting you do plenty of education and you have a balanced lifestyle and this means that you do that there trade in short focused blocks ok yep so what I found I mean one of the people that said this was one of my mentors a few years ago Adam Grimes I mean he has some various part time gigs and he sells things so he sells trading courses and books and things which I don't do when I say I contract I contract on non-trading stuff but I don't sell anything in any trading sphere but I do think it's healthy to do other things I think there's plenty of people that still work in the office I don't see that as a bad thing because it will bring you different skills and probably a fresh mindset when you go in and you actually trade I also think there are some people that spend hours and hours and hours reviewing and I admire them but I could not do that myself my reviews are quite a bit shorter than those hours and hours of replay etc but I do believe in education every single day of the week and the weekend but it can be a constant battle to unsubscribe from substacks, newsletters twitter feeds whatever in other words you can drown in stuff and you can end up reading half of it because there's just too much of it and you can't see any real practical application of it to what you are personally doing so you'll end up reading a lot and you'll come across one or two things or one or two people that really add value to what you're doing and that is the whole purpose of that education from a trading perspective and yeah education also encompasses learning other skills yeah before I did that before I did this kind of thing I could not code to save my life but these days I do a lot of coding anyway that was just another thought and it's a slightly distracting thought but it was very final snapshot we'll just see that ES is indeed going up we are in a choppy balance and we're going up to a couple of areas of liquidity above good luck to you in all your trading today I hope that our was useful in some way or in sanning anyway have a good day I'll stop the YouTube and stop