 All right, good afternoon traders and welcome to the protrader webinar today with Doug plus we've had him before and he's We'll have the Protrader webinar series in mid-September So look forward to that and Doug will likely be in there again, so I Wanted to let you know about that Doug This event here is You know, we're gonna go over options in the protrader webinar and Doug is Heavily involved in options trading looking at some very interesting strategies with Specific indicators with hero indicator with spot gamma and then looking at the order flow within book map To to make his decisions. So he had some ideas for some new or new strategies So we wanted to cover that and this will also set him up. I think nicely for the protrader webinar coming up in mid-September And to go over more details and so you guys will get a kind of a sneak peek of what's going on in here with the you guys will get with the New strategy and you can ask him questions. All right, so Let me just go give an introduction here. Doug's been trading options around 2008 Mostly selling strategies and then he's you know worked with Variety of traders and mentors, you know from thinkorswim and then he left his career with engineering Information technology and then began really digging in deep to the into the trading and Yeah, he discovered book map in 2020 In spot gamma later that year. He currently day trades futures and stocks full-time Actively participates in the book map discord chat room post content daily in the chat and on Twitter and writes articles also for spot gamma So he's had we've had him before some very interesting webinars and I will Put those into the chat as well. So if you guys are interested you'll have something else to look at kind of bone up on Some of the content that he's created before I have his contact information here as well if you want to reach out to him his Twitter is spot gamma articles in spot gamma article for presentation here Gotta go through this disclosure and then we'll just turn it right over to Doug a general disclosure all book map limited materials Information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations risk disclosure trading futures equities and digital currencies Involves the central risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results Okay, so what let's see Doug if you can present your screen looks like you already are Let me get it set up here and There we go Oh and I need to start this event Okay, and close it here. Okay All right, Doug, I believe you are all set to go Okay, great. Thanks Bruce First let me add that everything I say today. This is my opinion. This is just what I have Doug It's a little low on the volume. I'm sorry. Could you could you boost it up just a bit? Maybe your mic is a further away from you. How's this? Oh, that's much better Okay. Yeah, I guess I had it turned out a little bit Okay, are we good to go? Yes Okay, great. So First I just want to say that this Everything I'm gonna say this is my opinion and this is just what I have observed from Using book map for a couple years and my experience with options So that the title of what I'm gonna talk about today is Option-based an option-based approach for trading futures and stocks and why options Options are forward-looking and they're about expectations a Quick example would be a trader buys a call and there's really only one reason that I can think of For a trader to buy a call and that is that trader expects the stock or index to move higher so it's again about expectations and If enough traders are buying calls in this underlying whatever it is Then market makers have to They're selling the calls and they have to buy the stock or the underlying the index to hedge their delta exposure So that's just a quick easy example, but again, that's that's kind of the basis for why I'm looking at options and I I use options for planning and preparation as well as finding and executing trades As far as the planning and preparation go I look at key gamma levels and these are provided by spot gamma and And I look at where the levels are located and how they are shifting over time And I'll probably I'll talk about more about that in September in the pro trader webinar series Today I want to talk about how I use book map Combined with these gamma levels and real-time options activity to day trade futures and stocks So again, the gamma levels are provided by spot gamma and then the real-time options activity is shown by an indicator that Spot gamma developed called hero and that is the hedging impact of real-time options Before I dig into that I want to Take a look at ES today. It's just been a been a fascinating day I was talking about this with Bruce a little bit just a little while ago. So First of all, you can see I have a lot of levels on my screen. It's not every day that ES moves a hundred points. So that that's why so many levels and I also use a An add-on available in the book map mark marketplace called price lines that Generates most of these levels. So I just fill out a CSV file and these lines are drawn automatically This would just be too much to do manually I'm going to go back to just after Jerome Powell started speaking at 10 a.m. and Here you can see the reversal lower at Right around 10 10. There's a big Stop run and a Biceweep up into these two levels here and these levels were on my screen before the open and this This first level is a spot gamma level That was provided and they noted this and Brent The founder of spot gamma noted this in his a.m. Report a.m. Founders note as a resistance level and Then this is I have this shown as the key gamma strike. It's also the spy level spy 420 and it's also the call wall which is a Noted as a resistance level. So this was the the first clue to me that There you know could be a reversal here. That's a you know big big sweep into that level and then you know considering both of these levels were resistance and You know this you could also see that You know there was a large Cell iceberg executed here you can see that in the The on-chart indicator as well as the Shift lower and this blue line here and by the way, I have four lines in my sub chart CVD Hero which is the green line and then stops which is the yellow line and Icebergs which is the blue line and all these lines are in some or cumulative mode CVD of course is you know only available on cumulative mode and same for hero and then for the Stops in icebergs. I have the setting set to some mode so I can You know I can see that Yeah, this point traders started selling Started selling calls and buying puts and also this Cell iceberg executed and then e s started making a series of Lower highs and finally finally broke here when When the stops really got going so you've got 203 Stop orders there 285 170 and that's kind of what got the ball rolling to the downside so, you know again, this has just been a Been a fascinating day and and e s then one other thing to notice here is Something that that happens quite often With the sum mode here you can see that larger traders were Buying weakness and that that often occurs and you can see that in the with the iceberg Subchart indicators set to some mode and the same for The same for hero and This has been a pretty common behavior most of this year with a high volatility is traders will add positive Delta into weakness meaning they are selling puts and buying calls in SBX and spy and Then they will do the opposite into strength They will sell calls and buy puts and again, that's been pretty common behavior For most of this year and that's what hero is showing one other thing to add For e s traders, it's important to keep in mind that e s is a very complex product it's first of all, it's a derivative of an index of 500 stocks and They're really three three products that represent that index and SPX is the main index and as you know, that's that's a cash settled index And You can only you can't buy or sell SPX. It's an options only product and I in my mind, it's typically more of an institutional product used by portfolio managers for for hedging They buy puts SPX puts to hedge a Portfolio stocks and sell calls to pay for those puts And there's also spy, which is one-tenth the size of SPX and I in my mind That's a little bit more of a retail product Possibly use more firm for speculation by retail traders and then e s Often used for hedging by market makers who are On the other side of the option trades for SPX and spy So in my opinion if it's important to Track the SPX and spy levels when you're or be aware of them. I you know, you can see I have them on my chart When you're trading e s Okay, so You know again, you can You know finally see on hero that traders are still Taking the Taking advantage of the weakness to sell puts and buy calls and spy and possibly SPX Okay, let's oh, let me talk a little bit more about hero. So again, hero is A an indicator developed by spot gamma That shows the hedging impact of real-time options There are two versions of hero there's the Bookmap version that you see here and this is the original version and it There are advantages and disadvantages to each and they they they work together. I use both Bookmap hero Is a little bit more limited than spot gamma hero It there are fewer stocks that are stocks and futures that are included For bookmap hero and then the newer version is spot gamma hero and Let's take a look at that One actually one thing I wanted to add this shows the Talking about e s and spy and spx this shows the key gamma levels for spy and You can remember on my chart that 420 was the high point and that is You know that's shown here. That's the the highest above zero shows calls and Below zero shows put and that's obviously the You know the highest level of calls by far And again, that that's the key gamma strike and also the call wall and acted as Acted as a resistance today. All right, so let's take a look at spot gamma I'm just going to We have to refresh refresh this quickly Okay, it looks like it's up to date so This shows that Traders have been again taking advantage of the weakness and spy to buy calls and sell puts all day the Couple things that separate spot gamma from book spot gamma hero from bookmap hero is There are more stocks available more symbols available and also It's possible to separate the put and call transactions. So the put puts are shown in the blue line and Calls are shown in the orange line. So actually you can see here that Traders buying calls as the driving force for hero now not and other other Indexes and symbols stocks work in different ways So here's QQQ Let's take a look at the total and you can see much more of a direct correlation in hero and in the cues and This is pretty typical And let's take a look at some stocks here one Tesla There's almost always a direct almost a tick for tick correlation with hero and Tesla and And price action So So you can see that the the signals vary greatly For different stocks and most stocks have their Kind of typical behavior So, you know, this is very typical for Tesla and Like I said, this this behavior of selling Selling strength and buying weakness is very typical for spy. Let me refresh this here And I've shifted to my watch list And let's go back to spy now So again quite quite different behavior Depending on the underlying that you're looking at So I use hero in three different ways One is a leading indicator one is confirmation and then The last way is an exit signal and I actually wrote a blog article about that Here it is. I've written a number of articles for for spot gamma and this is the the link to the This may be the first article that I wrote about spot gamma hero and I I describe My trading process and then three examples of Of how I use it So again The first is Trend continuation and the second is trend reversal or Acting as a leading indicator and then third is trend termination or where an exit signal and again This article goes through details About how I use it in each situation so any questions Bruce I can't see YouTube I can only see the chat and discord Nothing over in YouTube and just a lot of appreciation over in the chat here in In discord, okay, yeah, I actually I actually have quite a few questions done. Oh, yeah, go ahead Can you kind of like just Recap some of these a little bit. I mean I'm just so fascinated by the options and how also like today in the webinar that the Advanced webinar that we had earlier You, you know, you frequently put in Images that show the condition of the buying and selling of puts and calls And and you're looking for something around specific areas maybe you can go back and and Talk a little bit about what you saw today during that time and and maybe just a quick recap in This article that would entice us to maybe look further into it Okay so again, I have Found three three specific uses for hero one is a as a trend continuation or trend confirmation One thing that I like to see and let's let's We'll take a look at book map again and see if I can Let's maybe look at Nvidia Nvidia is another stock that often shows a Strong correlation with price action and hero so if if I see something like this with Hero going down and CVD going down that's In my mind, that's pretty that's a pretty easy short. So at this point You know when you see this you're just looking for a Point to get short You know, this is a very In my mind a very strong confirmation That the stock is going to continue down then you start looking in the in the heat map for targets, so You know with most stocks that the liquidity targets are pretty obvious and this is at 170 And 165 see the liquidity targets. Let's see another one AMD So, I mean the the the concept behind that is super super simple They are hedging The dealers are hedging and they are selling Nvidia and therefore and you and you just see it in line with Heavy selling and CVD just go with the trend right so AMD is even a More clear example. So let's take a look at spot gamma hero for AMD and We'll separate out puts and calls So here you can see that traders are And shift a little bit traders are Buying puts and selling calls I Think the more powerful force here is buying puts If So if a trader sells a call Same with selling a put the delta is limited. There's a there's a you know, they've limited their downside or upside On the other hand if you're buying a put there is no limit to the delta. So This is a more powerful force leading a stock down and What happens is as? Traders buy puts market makers are selling the puts and that is a positive delta position for them They want to hedge their delta exposure. They want to Remain delta neutral. So they have to sell stock to hedge their delta exposure So Another thing to note is Also This is a very Selling what buying puts combined with selling calls is also even a more powerful force, you know, this is a good indication that This stock is going to continue to go down as long as this goes on So so the the on that chart the You I Guess it's the way it's set up in the chart. I just don't quite understand that the x and y axis If the blue line is puts and if it's going down that means they're actually oh come purchasing They're not selling puts. They're buying puts. Is that correct? Well, so the the blue and orange lines or the purple line Are shown in terms of Delta okay, so so going down is is negative Delta so buying puts or Selling calls is a negative Delta opening position and again market makers are taking the other side of that so they are Adding positive Delta. They don't want that so they have to Sell stock to hedge their Delta exposure to make them Delta neutral Got you So it's a very strong when they're both going the same direction there, right? Yeah, there was actually an article right note in the Founders note a couple of hire a few days ago about that I can show that in a minute So so then what you do is then can you go to book map and look at AMD? yeah, and then maybe talk us through it You know something that you were looking at and where you might consider getting in and and out You're just looking at the higher liquidity levels Right so here's the Here's the same sweep That occurred in ES at about the same time around 10 10 So the the sweep into around number and also this liquidity here and You can see that sellers were absorbing the buyers the purple dots That's the color that I use for Brazil are You know you you see the change in color from green to to purple or red or pink or you know, whatever you use and then lower highs I Usually I like to Enter it If possible at round numbers or also turn breaks So if you are watching AMD closely at this time, I was watching ES But you know, you would would see the break below VWAP break below the point of control and You know both both the hero line and the CBD line going down Okay, so so then if you if you miss the initial entry You know, I would look for any any trend breaks So you're looking on entry for limit sell orders on the way up at at round numbers and Then trend breaks down with with maybe buy sell stops or market sells Well, let's let me look at let's go back to ES and I'll I'll show you what Where I entered this morning so and and just just I'm you know Trying to get your secret sauce or anything, but just helpful for people to understand the your strategy and then trading Mechanics around the strategy So like I said, I was watching ES this morning and let's So I saw the sweep up into resistance kind of this cluster of levels and also liquidity at forty two hundred so this is This top level is forty two oh four and That's forty two oh four there SPX forty two oh four which is at ES forty two oh five and then SPX 420 call wall key gamma strike and then the You know the big purple dots coming in and I I watched it noticing the The lower highs and Then my entry was right here at 418 noticing that Stops were coming in The stop line was starting to go down CVD was starting to drop hero was dropping and Again icebergs Had already kind of initiated the move here This beautiful chain or correlation events there So in my mind that was this was the the ideal entry. Yeah, it makes makes great sense Zoom back out Did that answer your questions Bruce so you know this This morning hero was was part of the clue, but it's You know as you can see it's been going been going up ever ever since You know starting about 1030 with the traders Taking advantage of the weakness to sell puts and buy calls and Again behavior is is quite different In other other stocks and into indices, so Here's QQQ and you can see that For most of the morning it was more of a continuation or Directional Confirming indicator So Doug do you ever did you set limit sell orders for a pullback strategy or did you just kind of get in with market? I Can't remember That's okay. I just I I you know I I It was a sell limit Okay, yeah, I I clicked right on the the spy for 18 Got you, you know click clicked and put that and you know again The series can the signals can vary quite a bit For the different instruments it with as with any indicator. It's very important to understand what it's showing you and For for each different instrument and how they behave so I've watched ES and Q and these stocks for quite a while. So I have a pretty good sense of how how they behave and Again, I You know would reference that article for more details about about how I That the three scenarios for how I use hero And you know, this is Combined with it's not hero alone. It's combined with signals that I see in book map so as a leading indicator, I I think it's Here let let me put a link to the article and in discord chat Okay, there's a link to the article and in chat the next thing so as a For trading ES I find Hero most useful as a leading indicator and I've seen this behavior so much that I Kind of named a Setup and let me called hero kickoff and Let me show you in it an example of that this screenshot. Let's move that over here So here So here you can see that this up move Really was initiated with auction traders taking again taking advantage of the weakness in SPX and spy to buy calls and sell puts and Then That kind of levels off and at some point they start selling strength But after the initial move in hero then in this case Both aggressive buyers and stop orders start continue to fuel the move higher so why kickoff think of You know think of football so the Series of plays begins with the kickoff the kickoff teams then you know after that play They leave the field and the the regular offense and defense take the field and You know that's The behavior that I've observed so the move initiates and it can be with icebergs, too I've I've seen that quite a bit and that's kind of where I got this idea is larger traders often selling strength and buying weakness with iceberg orders and that's often apparent with the Iceberg set in sub chart into some mode So that's that's the idea behind this hero kicks off kickoff. So when when I see this behavior of Hero rising and Price continuing to fall I look at look for a level that could Where price could could Potentially reverse higher and here it it's at the spy 410 Key gamma strike or you know close to it that that the reversal begins And then I look at book map for signals of a reversal So the you know the first first clue here is the You know the bunch of larger green dots Making higher lows more green dots and Then the stop starting to rise. So that's one example Is it is it always stops that you look at in that it'd be Stops icebergs and Aggressive buyers that are that take the field after hero and and move Move the stock higher Here's another example Just a little bit bigger now in this case Hero was moving along with with other this is more of a you know, I guess sideways chop Initiated by hero and Also stops it looks like that's you know, that's perhaps not quite as good an example, but You know in this case the traders continue to Buy calls and sell puts and also the stop orders increase as well as the aggressive buyers So Doug on on on that strategy do you So there's a couple interesting things that Brent had talked about and then what you're talking about now With the hero like you see them at number one there. They are buying right and You that's the you know, you start to see the kickoff And then then you see the stops being triggered there And also CVD starting to starting to go up right, so How often do you see though like interesting what Brent had said that you see the hero, but then they just stop I mean, they're hedged. They're kind of like their work is done And it just kind of goes flat In this case they start to sell again back up in those at higher liquidity Up at like, you know four or five and six But but the the stops continue So are you still kind of you're still kind of waiting for the stops to maybe Kind of turn around again And then for a potential reversal or take profit in those areas or you just looking for the high liquidity up in those areas So in in this example if I saw stops Starting to turn down You know price action leveling off and turning down then I would You know, I would I would look for an exit So this is probably more of a typical example though and and you never know exactly when When price will reverse and it may never like today You know again today and yes Let's go back to ES You know traders again since about 1030 have been selling puts and buying calls and price continues to go down and I you know, I would not look for Reversal here until CVD ticks up and you know looking at price action first You know confirming, you know, I would be looking for Higher highs and higher lows and and CVD and stops to confirm that and You know who knows today this is this is a pretty Pretty strong move to the downside Yeah, how do you make sense of of this? I mean or I guess that you you had your trade earlier in the day with a good good setup But is this just kind of an anomaly and you're just like I don't get it. I'm not wait. I'm not touching it until I see Structure start to change and CVD start to change Hi Yeah, I you know, I would not What I guess given the event this morning and the You know what what apparently the market interpreted as a pretty strong Hockish stance from from Jerome Powell I would You know, I would not look to get long Probably under any circumstances today You know, I never even thought about getting long today You know, just even though You know, I I may I may sell some puts at the end of the day But you know, certain I'm not not consider Buying ES or spy. So, you know, I may join these traders Selling puts but that's you know, that's about the extent of it as far as positive Delta trades Understood You know, I you just have to You know take keep the whole picture in mind and I you know, I was pretty open You know my my plan was my thesis for today was it depends on the 10 a.m. News so, you know, it depends on the I I guess the consumer sentiment report that came out of chin and then also What what Powell had to say? and You know that the the action today was totally depended on that there were really no shifts in the In the gamma levels that I track Overnight so there was really no clue No shifts up or down and in the key gamma levels and let's see David asked a couple of questions And yes, I do use spy And spy is a lot easier You know, there's less stuff here so it's it's You know often easier that You know, I guess that's an advantage and a disadvantage There's more information on the ES chart with the stops and icebergs You know and spy You know as far as indicators There's just CVD and and hero and then of course the sweeps and absorption and You know, you could see that at And and the levels as well and then yes, David, I do use sweeps Sweeps and absorption as confirmation You know often at at turning points for for entries now that I guess On the other hand that the liquidity levels just aren't there and spy It's those are much easier to see and ES and spy You know again compared to stocks The liquidity levels are are much more obvious and and easy to use as targets So in many of these like your kickoff strategy is like the kickoff team is still kicking off Right, so yeah, sometimes it does doesn't work You know, there was never Never a confirmation So in a way the you know the kickoff team is still on the field and the You know briefly there was some iceberg buying activity, but that You know, that's actually been going down now. So You know that You know the other the offense and the defense never took the field here a Question Doug, do you do you find on it on a day like today like? That maybe they will But you know on much higher time frame It you know, it's possible on a on a Friday afternoon Well, I mean not for the day but for the week or something like next week if you see a lot of just positive Delta Or I'm sorry at that point a positive CVD Next week or something like that. Well, I guess with what such a strong move today it You know you might anticipate some You know some move higher I You know, I expect let's let's take a look at the That at Brent's note for this morning the Founder's note. So a Couple things to keep in mind ES now is way below the volatility triggers for spy and SPX so Was very mildly positive for SPX and and Negative for spy the gamma notional will be much more negative for both on Monday The volat ES is both the volat below the volatility triggers and that's the gamma flip line for For both SPX and spy Brent also notes Somewhere in here that He sees 4,300 is major resistance and 4,000 is major support So, you know, it's highly possible that that ES Continues on down to 4,000, you know, we just have to wait and see on On Monday things, you know, I will look at the shift of gamma levels Over the weekend and on Monday morning in his report and See how things shape up down. I don't know if that I don't know if that answers. Yeah. Yeah. Yeah. No, it makes makes perfect sense To to peak and see what what it might be unfolding at that point So I for Monday with with the move today ES is down 117 points Right now, I expect maybe major shifts and gamma levels Like I said, I was going to talk about that more at the protraver webinar series. I expect shifts Down and key gamma strikes call walls put put walls. Yeah, we'll see with the equity hub and the You know the report on Monday morning See where those levels shifted. I don't you want to see any more examples of the hero kickoff? Sure, that'd be great Let's actually look at Some examples in in spot gamma hero and these are These are setups that I posted in Discord and Twitter. So this is in the Cues and you can see Here in this case it was acting as a Leading indicator You know 45 minutes before QQQ started to go down. Let's see if I can do this jump to the next one Here's another one for the cues Again as a leading indicator, but not Not You know, there's not a lot of time maybe 10 15 minutes between when it starts to go down and and The cues start to go down. So so the the the just for people to Know there on the bottom in the center. The price is the black line and then the total put call Delta is the is the pink line Right, right. So this is kind of a simple legend down here Here's one for spy showing that Hero starts to kick up. Oh maybe five ten minutes before Price action reverse is at the key gamma strike. I think I should have that showed the s-chart for that and here again, it's acting as a Leading indicator This is for spy again. This is more of a confirming indicator or a Continuation maybe in this first first few minutes after the open when price was going down and hero was going up Somewhat of a leading indicator, but it quickly became a confirming indicator So so the way you found To really get the most out of this is okay. You've got your leading indicator And so I'm asking a question. So you found your leading indicator, but And that's the kickoff, but now you're waiting for it for the men on the field here to Take take the ball and move it right direction There's a one. Yeah, once I see hero starting to move in a Direction opposite to price then I start I look at book map for clues I I look for a level for a potential reversal and also Confirming indicators and price action and in in book map signals You know could be a sweep to a level Stop run Iceberg starting to step in You know right some clear indications in book map for price to reverse and Typically it you know some points soon after that The option traders will start to take the other side of the trade you know if that price is moving up at some point they'll start selling strength Yeah, you know adding negative Delta positions to rising price and Then you know at that point the other players on the field are carrying the ball higher This is fascinating And makes total sense, I mean the clarity is great Doug You know because like You see like a The hero indicator, you know go in one direction for a long time and it's just like wow, that's not helping But you're waiting For the yet for the shift in the change And let the order flow then tell you at that point right Yeah, so Hero is not Not a trigger or a trade signal. It's just a something to look at as a verb Indicates yes, primarily as a leading indicator. I there was a time where it used to be more of a trend continuation or a confirming indicator, but now I see it. You know my observation is that it's works better As a leading indicator And and for stocks, I'm typically looking for Hero to be a trend continuation or a confirming indicator And the strongest signal for me is when hero and CVD are going in the same direction You know, that's again. That's a pretty good clue for a stock that That stock is going to head to the next liquidity level. Yeah, Doug I mean, this is just it looks like you're just shooting fish in a barrel here You know especially do you find that I Imagine that one with stocks that set up with stocks like when you start to see that unfold. It's just kind of High highly probable Yes, yeah, that's you know at that point when you see that's two lines Going in the same direction the only the only question the only problem left is to find your trigger When you know when you can get a safe entry Yeah question on that and again not trying to get secret sauce from you or anything but like You know you showed like your pullback and entry on that It It almost seems like You know you could almost see I mean you could really tighten up your stops That's one way But it almost seems like God you just might as well just like it's going that way It's gonna turn likely gonna turn around You can place it kind of wider stops and let it kind of work out I Don't know which kind of method you use for for placing stops I keep a pretty consistent stop and you know it kind of depends on the instrument so I would spy or You know something that's slower moving typically not not necessarily today, but slower moving Or you know AMD a smaller stock You know I would use a smaller stop then then something like NVIDIA or Tesla And I really don't trade Tesla very much. I made more now that it's split But I I you know I would say that entries is something there's something I'm still working on That's really not my area of expertise You know I know that You know maybe J trader is is better at At specific entries than I am and you know again, I'm still working on it, but I'm looking for trend breaks at you know specifically at trim breaks at key levels and often absorption and sweeps as a confirming indicator so Yeah, I hope that answers the question but You know look also looking for change in color of the volume dots and But my you know, I think my Area of expertise at a moment anyway is that more of a larger picker picture analysis Yeah, make make sense yeah, the the stops was a question in here in YouTube and Yeah, Kevin he talked about targets Yeah, I don't want to get my specific stops, you know, that's dependent on your the size you're trading the size of your account your risk tolerance Yeah, under understood yeah It's but it's kind of this bigger picture. I mean I could see it in general. It's this kind of bigger picture And you're quite sure With the with some of the bigger picture moves here There just might be a lot of wiggling in there before it it starts to take hold and I Mean it's in general It's it kind of begs the question for for me like, you know, how would I want to manage that in in with smaller stops? Multiple times maybe it stopped out multiple times or just a bigger stop and just let it kind of work well, I I did get stopped out this morning before my Before my final entry took hold and I to be honest, I Got out too early You know, I did not expect price to continue going down, but You know overall I you know, I was fine for the day Yeah, I had you know had no idea that the Move would be of this magnitude You know, there's no way of knowing. Yeah. Yeah. Yeah. Yeah, exactly Yeah Let's see. I don't know Doug where how to go with this I mean like I had I have all sorts of questions for you. You've already gone for an hour I don't see too many more questions here in YouTube or And there's a few more in discord we can take a look at but You know the the goal here was to go over your kickoff strategy and kind of how you use order flow and and options and hero together and you've done that and And then don't want to take too much material for your pro trader webinar coming in September So maybe if you feel comfortable we can go through a few yeah, let me take a couple of quick questions Okay discord. Okay, and David asked how do you incorporate this? the sweeps indicator I use the sweeps indicator more as a And absorption more as a Kind of especially the sweeps were looking for a reversal at that point Like this morning in in ES and the stocks that we looked at You know the sweeps up to into a resistance level is probably You know just like a stop run, you know pretty good indication that You know that you can expect a reversal at that point He also asked what do you do when you when spx is the opposite I'm not sure I understand the question that You know what what we're looking at here is In hero for book map is showing SPX and spy Call and put transactions. It's combining all that that's shown here and book map separately and You know this here the same thing as spy Traders are taking the opposite side of the trade Taking advantage of the weakness to add positive delta trades and if you know if I don't see it a Confirmation of book map that price is going to reverse then I You know, I'm not going to follow them today you know, that's just the first part of the of the setup and You know in my mind the second part of the setup has not not come into play stop orders are still firing off You know here this looks like over a thousand stop orders Sell icebergs are starting to you know have been going off Cumulative volume deltas going down You know, I'm just not not looking for long and I don't trade this time of day. Anyway, I usually just trade the morning session So I'm I'm done Trader Tay, I'm not sure I understand your question HAA ask is there a list of stocks that I That I focus on and yes there is and that's shown Here this is my watch list and shown here in In spot gamma hero And I don't have all of these stocks open in book map. I have have my limit and I mainly track The big cap tech stocks Apple Amazon Goog although Goog is Alphabets not really tradable. It just doesn't move enough meta, which is trades pretty well and often Shows a pretty strong correlation With hero price action and hero Microsoft used to but it is today and things have shifted a little bit this week And I'm seeing more correlation between price action and hero and in the stock Netflix I don't have open in book map. It's just the Bit ass spreads a little bit too wide for me NVIDIA is another stock that tracks very well with hero and Then Tesla like I said does also it Tracks almost tick for tick with with hero It's the most consistent stock that I that I track And I'll probably start to look to trade it again now that it's now that it's split So Doug another question I have for you is I mean looking at all these all your big cap stocks here I mean, they're giving you really nice kind of trending move signals here Yeah, they are You know that in the past I That has not necessarily been the case, but it shifted this week and I saw a lot more correlation between Price action and hero and stocks and today it's just beautiful. I Mean just pick pick what you want to trade and trade it and Amazon is pretty consistent So the the question I I have I mean is Now all of these big, you know, obviously these big caps make up the indexes Right and we're not seeing that in the index So As soon as these maybe some of these these leading stocks Maybe start to turn around It's there's just I mean there's definitely a discrepancy Divergence between the indices and these big cap stocks at the moment Well, you know if you look at price action, they're all going down. It's just that Typical behavior in especially spy and spx this year has been Traders and options are Selling selling strength and buying weakness and that's been the behavior for Several months at least not necessarily in stocks, but in In es especially spy and spx and sometimes in in qqq, but It's almost the expected behavior for me and spy and spx to see it more See hero traveling more in the opposite direction a price action and those two and You know as opposed to stocks where it's more of a confirming indicator continuation indicator and That's that what in my mind. That's what makes stocks often easier to trade You know if you're just looking for a trend confirmation But In my mind again the the advantage of looking at hero for es in particular and in Inq qqq sometimes is it connect as the leading indicator and give you advanced notice of a reversal and You know, it's just what I've gathered from from looking at this stuff Every day for you know days and weeks and months Yeah, yeah makes makes great sense And and Something I really like a dug is this the simplicity of it as well. You've really I mean this option stuff can get so complex And you've boiled it down to something Very understandable and actionable Well, that's great. I I hope it's more understandable and hope this hope this helps Yeah, yeah, no, I think it's great. So In a great reference for for everybody So we have this and you can go back and review the YouTube video So I think I think we're all all set Doug I mean answered all the questions if there's anything else that you want to go over I That's it If if you're interested in learning more Please take a look at the article. I posted the link before and Actually, I have written a number of articles for spot gamma and I'll post this link. No, that's not it There I just posted it in YouTube and I guys I posted Doug's Twitter and Spot gamma articles and et cetera that I showed in the first one of the first slides there So you have all those links as well Right, so I'll just post and discord here's a list of them all my articles and these articles are I Wrote them for the spot gamma blog and they just described How I use book map and spot gamma to trade stocks and futures Okay, excellent. So I posted it in YouTube as well and Yeah, thank you Doug. Thanks so much. This was really great. I Was very curious about your Kickoff strategy and seeing a lot of the great stuff you've been posting and discord during the advanced webinars Thank you for that and thank you so much for today really good stuff Well, thanks, you're welcome All right, and we'll we'll see you in mid-september with the Pro-trader webinar series All right, great. I'll be there. Thanks Bruce. Okay. Thank you everyone for attending Bye. Bye. Bye