 The broadcast is now starting. All attendees are in listen-only mode. Good morning traders and welcome to the bookmap special event webinar. It's a pro trader webinar series here that we have a few times each quarter and Today we have something really special. This is going to be an interview with Brett Dr. Brett Steinbarger Steenbarger and Scott Pulsini They have a long history And I think I'll let them kind of elaborate on their credentials and their background but what we're really going to get here is an insight between a professional trader and a leading industry trader psychologist and And a discussion between the two And also we have something very unique and special here that Scott is going to show and I'll have to Interrupt during the webinar and get into some of the details on it there is something in the handouts folder for the This bookmap MBO bundle indicator that Scott is going to cover and don't worry. We'll go through it in detail I will also put Scott's information into the chat here for you if you want to reach out and talk to Scott about some of his Educational services so risk disclaimer 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 and With that I'll turn it right over to Scott Hey doing Bruce and dr. Brett doing very there So Let me let me grab this right now before we get going Let me know when you can see my screen and which screen you see actually Yes, you're two dollars perfect, okay Yeah, so Bruce once again, thanks for having myself and dr. Brett on this is this will be interesting dr. Brett and I haven't We haven't dove in a trading like this for a number of years Should be fun, but you know, I'll give a I'm gonna give a brief history I've gone over it enough in the prior webinars, but It's worth noting again just to you know, hear what a doctor Brett and I met and you know what he did early in my trading a career and then I'll start to get into some examples, but you know, I started trading in 2001 right after 9-11 and Literally was losing money every day for almost two months was about to get fired 9-11 happened and I went over to German DAX to figure out, you know, just to get some experience and I figured out some nuances there and then when the you know Stock indices futures opened up back up They started to apply what I learned there and the M&E S&P and then all of a sudden I went from losing every day to making, you know millions of dollars Over the you know, three four-year period and right in the middle of that dr. Brett came Came into our firm and he was our trading psychologist. So it's kind of like I don't know if you're familiar with that show billions on HBO It's kind of like that. I mean he was there for traders that were struggling or I'm gonna let him tell tell you a little more about that but you know traders are struggling or you know Losing their minds things like that or you know, just he was he was very helpful and then he He ended up he was writing a book and he asked if he can sit behind me When he was writing enhancer enhancing trader performance Yes, if you can sit behind me and watch me trade just to kind of learn, you know How I what I looked at or how I reacted and what made me great at the time Again, like I always tell And the story is I was a million-dollar trader, right? I was more of a rags to riches to rags take trader where You know, I made millions of dollars But then when the algorithms and the low volatility around 2005 2006 started to take hold I couldn't make a dime I went from making millions to couldn't make a dollar to then losing and then parting ways with my firm and then, you know Being a vagabond for years trying to you know going from from the firm trying to figure out a new way to trade that I was that I had a gift at and I was just never I Just never could ever duplicate anything near what I did in those days. I was scalping That was my gift and that gift went away and a lot of traders can attest to the same thing in certain ways So, you know, I was basically rudderless and even they had to get out of the business for a few years in 2013 Until of course, dr. Brett showed me book map and the minute I saw it. I knew I was back I knew that just like I knew when I was gonna make, you know Millions of dollars when I bet my the owner of my firm that I would be the number one trader in 2002 After losing every day for the first two months the same thing when I saw book map once soon as I saw it I knew this was the missing piece of trading that I was longing for So then fast forward today, I've been using this Very successfully and it just keeps getting better and better and better and I'll show you some new things that you guys are introducing which is just absolutely incredible, but I'll let dr. Brett Hello Yes, yeah, you're there Okay. Yeah, let me just jump in and make a little comment about what's going on All my screen all my screen just All my screens just went black. Sorry. That's why you said you gotta be kidding me. No, I'm back. I'm back. Yeah Take away dr. Brett Okay, that sounds good Um, it's just a quick comment on what you were saying, uh, scott. There's one sentence you said That uh, I'll disagree with you. You said that your gift went away And the gift doesn't go away the gift is a set of talents that you have That successful traders have and different traders have different gifts What was happening back in chicago in that 2001 2002 and after period was that you had Information close to the market That allowed you to utilize your gift And so you could see in real time who was doing what And you were trading Very quick time frames very close to the market There were times scott. I don't know if you remember there were times where you were trading in and out and in and out and in and out and in and out on the s and p and I would mention something that the s and p had done for the day like how it closed for the day and You weren't even following that you didn't even know That the s and p was up a lot or down a lot necessarily because you were so focused tick by tick Who's in the market? What are they doing? When the algorithms took You remember that when the algorithms took over a course There was all the spoofing and it became next to impossible to figure out Who was doing what? And that's what interested me In the book map information Because here you can actually see on the screen The historical order flow to tell you Which bids and offers are real and which price levels are significant Which is the exact same information you were using back when So, uh, I I think it's a real potential source of edge not only for you, but for the Traders who are attending today Right, absolutely. You know when I tell the story, um You know about my scalping days. I mean there are days that Like you're saying I wouldn't even have a chart up. I was just watching straight order flow I wouldn't know One thing about you know breakouts or you know, if we were in a range or anything like that I would literally bring up my tt screen that was the front end I used at the time software and look at the ladder and watch the The orders come in and that's how I would make my decisions and that's why because that's still how You know after learning about book map. That's how I make my decisions again because now, you know I've learned a lot as far as the technical side since then using bar charts and everything else but you know like again, I'm not I'm not You know, I'm not a Gifted trader just by looking at a bar chart technically and most aren't because you know things don't always work But then when you tie in the real time volume, that's when you get That's when you start to understand what's really happening You know what the what the big money is really doing in the market and that's Who you want to follow right and again, you know all these stories that I tell or all these examples I give is because I used to be The the big money. So I know what works. What doesn't work things like that. So you're exactly right Brett Good good good Okay, so shockingly just like happened a couple webinars ago I don't know if it's something with a go-to webinar, but it knocks out all of my Examples, so I'm gonna at least I have them backed up a little bit here But I'll I'll be going it's gonna probably take me, you know a second or two to bring up each individual one Um But I apologize. I don't know there's something with go-to webinar that does something to my computer, but anyway, um, do you want to How do you want to do this bruce? Do you want me to just get into some examples or you want to talk more about the our history together? Um, well, I mean, I think maybe maybe you can kind of build those those images Back together again. Um, and let's just go through that and what what you were looking at and just the relationship Between you two, uh, you know, I I recall reading, uh, you know brett's book Enhancing that trader performance. I don't know when was it released was it 2006 or 2003 something like that and and then reading about you as well and then here you guys are so Yeah, go go through and discuss like the processes that what you were thinking about and And then the insights from from brett And I don't know if brett you wanted to talk about you know meeting scott and and you know what you had You know come across and the time spent etc Yeah, yeah, I'll just mention one thing real quickly and let's get to the charts And and the real data If you look at the same information as everyone else You will see the same things that other people see and you will trade the way other people trade The traders I work with Who are successful Are looking at new and different information Or they're looking at Existing information in new and different ways We have to see markets differently to trade them differently Otherwise, we're going to have consensus results Not outstanding results Right exactly and that and that's again, you know, I just I can't stress it enough. That's that's what this program the software book map gives you it gives you advantages over 99 percent of the trainers would be my guess that that you know Don't have access to this or don't know how to use that aren't just looking at bar charts Again, if you're looking at just bar charts Or a couple different indicators You're just not seeing the whole picture. You're not really seeing what's going on, right? You're not The biggest thing book map does for me is it helps me understand even when I'm wrong I know most of the time I know why I'm wrong, right? You're seeing what the what the big players are doing and it explains it instead of just looking at a chart and then You know, I've given this example before where it keeps bouncing off feewap and then One time then the next time you try to play a bounce off feewap and it rips right through Well, I want to know why that time it ripped through not, you know Not just oh, okay. That's just percent trading percentages, which it is right because nothing is a hundred percent But I want to know reasons why it didn't work, right? And that's what book map tells you You know, especially with the liquidity the visible liquidity that you can see And even more so with this with this new indicator that they have You can see why things why areas on your charts don't work things like that So I'm gonna I'm gonna be again It's gonna take me about a minute or two to get these back up Brett if you want to maybe just talk about a little bit about when you wrote the book and Why you decided it? I mean because there were some pretty successful traders I mean granted. I was the number one trader for a couple years there But why did you choose me to to? You know put in your book and you know sippy. I mean, I know the other traders in your book as well But why did you sit behind me and want to see what I was doing? Why did that intrigue you versus the other traders there? Well, well it intrigued me because it was clear to me That it wasn't that you were playing the game better than other traders It was that you were playing a different game And I see that with successful portfolio managers and traders In some ways they're playing a different game. They're not just playing the same old game better than other people In this case like you were saying you wouldn't even have charts of the market up You were trading from order flow And able to make very very quick decisions About who's buying who sell what levels will hold it's for Now everyone has those quick thinking pattern recognition skills But some people have it as their gift to use your word Scott And that's what intrigued me was Someone who had a particular Cognitive gift a gift in terms of processing information Who was using it very successfully? A huge part of your development I'm speaking now to the people attending the webinar a huge part of your development is figuring out What your gifts are? Where are your strengths not only personality wise, but your information processing strengths? What do you see? Well, what do you visualize? Well, what do you think? Well, what what do you how do you? Make sense of the world in unique and distinctive ways If you can figure out your strengths as a Thinker your cognitive strengths that will tell you what your strengths will be as a trader Right, and that's what I stress too when I you know when I go through these examples You know when I'm talking about what I look at what I do How I interpret the markets it's not for you know traders to copy you traders have to figure out what works for them And then and you know then come up with different strategies using book map with their areas and the things they look at So you know it's not to trade like me You know even when I do my mentoring with my students I explain to them you you have to figure out what works for you And then you implement the real-time volume To you know figure out if the areas that you're looking are looking at are relevant So that that's what that's a big thing that I stress, you know If you want to be a successful trader you cannot copy other traders, right? I mean you can Try to find the same levels as them, but you have to come up with something that makes sense to you Right, so when I was a scalper that made sense to me like you're saying dr But you know and now the way I look at the markets now with the book map that makes sense to me So everyone has to come up with their own ideas Especially if you're using bar charts and implementing the real-time volume All right, so I'm going to try to get back on track here. I can't believe this happened again bruce. I mean Literally while I'm talking all my all my charts disappear. So now I'm Now I'm flailing here, but so I'm going to briefly go through Just very briefly because all the other webinars I've done are you know kind of redundant if I keep going over the same stuff Even though, you know, it's obviously very relevant But I'm just going to go because I want to get try to get to the new stuff here quickly so The first couple webinars I've done, you know and how I've learned to use book map is Looking at, you know, how markets respond to resting liquidity In the book, right? So the resting for those of you that are new to book map that don't know So that you know this orange red is again, I'm colorblind and that's why my You know the defaults on book map are green and red I believe and I've changed it to blue and red just because I can't tell the difference But that's why mine are blue and So if I'm wrong on colors, I apologize, but you know this the liquidity lines are basically resting orders in the book That you can also see on the you know on the dome, but when you just look at the dome It's fleeting, right? So anyone that tells you they can make money just trading off the dome orders is either lying or is You know, holy, that's my opinion, right? You gotta remember. This is how I used to trade I used to trade off of the dome and if I can't make sense of it I and I have very fast processing skills as dr. Brett can attest if I can't make sense of it. I there's not many people in the world I don't think that can make sense of it. So my point is This information is what's in the book, but it's a lot easier to discern Looking at it here and it makes a lot more sense when you take the rest in liquidity And then you add in what's really happening with you know, the the market orders, right? So, you know, what you see in these bubbles is just basically orders That are market orders, right? So we call them aggressive buyers aggressive sellers meaning they're not waiting to get filled like These orders are waiting to get filled and they're passive. They're just sitting in the book waiting When you see the bubbles, those are the active aggressive sellers in the red buyers in the blue, right? So What when you can kind of meld everything together is In these levels where there's resting liquidity and then see how the sellers are trying to push it through And then they fail try to push it through and then they fail That's and then you you tie that into a level you're looking at in a chart that's important to you That's when you get high percentage trades, right? And I always stress that you're wanting you know, when you're taking these trades You're not going to be very successful and you're not going to be wrong very long in my opinion Especially with the algorithms that dominate Um, you know in the marketplace now trying to take one to one on your trades Meaning you're risking one to make one or even even two to one my opinion So you want to find areas in a chart that are validated by the by the volume where you can risk a little To make multiples, right? So you're risking, you know, one to make five one to make 10 That's how successful traders make money. Again, unless you can write programs that are ultra fast The you know, most of the retail traders have to be taking multiples on their trades So this is just a basic, you know, what I've talked about in the past where You know Marker comes down to resting liquidity right here And it also gravitated to the high liquidity, which I'll go over here in a second Which I talked about in the last webinar Which just just just shockingly almost always does and I'll explain why it's not coincidence But so it comes down here. They try to sell through they lose comes back down here again They try to sell again lose again I mean, that doesn't they don't push it lower and then you see liquidity put back in right So this this right here in my eyes and in actuality is a great trade because they try to push it through They lost they tried again lost again and liquidity comes back in so now you can kind of lean on liquidity And the minute you start seeing the buying you can get long put a stop below here And write it up until you see a reason to get out, right? And that's the other thing Dr. Brett, I'm sure sees all the time is and is One of my biggest And I'll even show you an example later. It's one of my biggest faults is Getting out just because you have a profit, right? You you want to get out just like you get in You want to have a reason that you're getting out not just because you see your P&L ripping higher, right? So again, you know, when you're getting in when you're getting in you have to have a reason to get in when you're getting out You know, you want to have a reason to get out and it could be whatever reason again makes sense to you It could be say it came up to this liquidity right here and they try to buy through and then you start to see some sellers That's a reason to get out But you know, there's there's many reasons to get out But my point is you're not just you want to use this information both ways You don't just want to use it for entries. You want to use it for exits as well as well. So So that's the basic You know the first thing the first few webinars that I did I took what I talked about which this alone will make you a Much much better trader than just obviously looking up our charts, right? Scott, can I jump in? Can I jump in, Scott? Absolutely Yeah, so this Rings true to me in terms of the edges. I'm seeing from the traders I'm working with both the active portfolio managers and the active prop traders What you're looking at on that one chart is An occasion where Selling comes in and selling comes in and selling comes in you can see the selling you can see the levels And at some point the sellers cannot push the market lower Those sellers are trapped When we get buying coming in because the market can't go any lower Those sellers have to cover They end up puking and that fuels the movement higher And conversely we get occasions where the buyers come in the buyers come in the buyers come in And can't push the market higher They become trapped Some of the best short-term edges in the market Is seeing clearly Where buyers and sellers are trapped? and Getting ahead of them For the next move as they have to exit their positions Are you there scott? Yeah, I'm sorry. I'm sorry. I put myself on mute when he was talking. Um, and exactly that's exactly right And so the next thing I'm going to cover is what I talked about unless my last webinar and dr. Bratt You know since he's since he was his early kingstreet days. He's worked with you know many hedge funds Um, just you know big money traders and I'm sure he can attest to What you know, I mentioned last time and what I'm going to talk about again today briefly and the reason I I know this well, let me show you some examples first again. I'm sorry if these If I'm kind of scrambled here because I've had to bring everything up last second but But I talked about last time is A good way, you know when the market opens one, you want to have a plan, right? You want to have an idea of what how you want to trade the market that day based on You know, whatever you look at, right? So The thing that I do is You know on certain days It's screaming What the market is going to do, right? So this is an example of It helps you build your thesis for the day. So this is an example of The qqq which is I highly recommend us the other thing I talk about too for even guys that just trade futures You're doing yourself a disservice By not having these the ETFs up, right? Because you can clean so much more information from what the ETFs are doing With the volume and everything else than just looking at a at the futures It's the same with just looking at a bar chart versus having a bar chart and book map, right? So you want to start to look at these ETFs if you're trading these markets because it gives you information that the regular Futures a lot of times don't have, right? So when I bring up in the morning, I'll bring up my my charts or the book map And I'll immediately look at the ETFs, right when the market opens and I want to see where the liquidity comes in resting liquidity, right? So Which I've talked about before A novice book map user and it makes sense, but that's why most things don't make sense in trading It's usually the opposite but you look you look at this and you say wow look at all the resting bids here I think we're going up for the day. I mean, let's look at all the support, right? This is real-time support Yes and no, right? So The no is from my experience and the reason I say my experience because I used to do this exact thing when I was a Future trader, I mean at my height I can put on 3000 e-mini S&P contracts, right? So I would load the book in areas that I wanted to get long with bids, right? And then I would wait for my opportune time and then I would push the market into my own orders, right? So this is exactly what's happening here in my in my eyes where You get this big money that puts in their orders right at the open and then they want to get filled here So again, this big money can't just come in and buy millions of contracts because Hundreds of thousands or millions of contracts because they'll run the they'll run the market right off the screen So they have to do it in a more covert way where they You know, they wait for the for the moment and then they push the market into their orders Then they get long or they get out of their short position Whatever the reason is and then then when you see it kind of struggling after a trades through here And all these big traders got filled then you start to see some buying that's when you can get long, right? So That's what i'm trying to explain is you this is very key in Knowing where the liquidity is in the book Knowing again, so I look at this chart for this particular day and in my thesis is we're going lower Before we go higher if we go higher, right? So this was the qqq. This is all the same day This was the spy, right? So you had a liquidity here this when you see this this is algorithms, right? This is also good to know which happens a lot Especially in the spy where they're just they put it in pull it put it and pull it put it and pull it So you know this this stuff isn't relevant for trade my trading This just games being played by the algos. This is relevant This these are orders that have been there since the open 6 30 my time is 8 30 central i'm in arizona Where these orders want to get filled and when you start seeing them the same look in every market Then you have a very good idea of what's going to happen that day Then you look for areas to get short to run into these orders and then then you can kind of judge when it gets here You know, whether you're going to get out or let it ride or things like that So that's the spy This is the vix which obviously moves Opposite, you know if the if the stock markets go down We usually vix rises so you can see all the all the orders are above in the vix. This is the vxx the etf Um, but again, everything's aligned, right? So you can come up with a very good thesis of I want to be short today Um until this happens, right? So then lo and behold Turns around Takes this is qqq takes out this takes out this takes out this takes out this takes out this Hey, look at that the very last liquidity level got filled and then we rally, right? So basically whoever these guys were firm one firm multiple firms They got what they wanted they pushed it down into their orders now They're either long or they got it other shorts whatever the reason maybe it doesn't matter what the reason is You know that the market was going to gravitate to this liquidity very high percentage again Nothing is trading as a hundred percent, right? But you are on the right side of the market if you look at all these different markets and you see this liquidity Resting, you know where the market's going to probably end up Again, I say 80 percent of the time that's probably not accurate I mean in my opinion what I've seen so far with this It's been about 80 percent, but again, nothing's a hundred percent The point is you're on the right side of the market. You have a very good indication on what's going to happen, right? So that was that was the cues um This was I'm paying real quickly Because this paints to the psychology of the marketplace itself What you're seeing here are the intentions of large market participants When they have resting orders that stay in the book That's their intention. These aren't things that they're putting on and pulling and putting on and pulling out of the book These are levels where they want to get involved and you can see that on the screen Which helps you then with your decision making Exactly and that's exactly what I say. I mean Again, Brett you've worked with the big funds. I mean What would happen if a huge trader at a big fund just turned around and wanted to get along and then just decided They wanted to chase the market and at any cost would he be in a little bit of hot water that he didn't wait for view app or wait for You know what I mean? I mean they obviously just don't dump their orders in the market. They have to be more discreet I think that's right because they would just blow out the bid off or spread And they'd end up chasing bad prices Example I use what I first after I was in Chicago when I first joined a tutor the hedge fund in Connecticut The minimum portfolio size for an established trader was 200 million dollars And so they had so much I was the minimum So they had so much capital each portfolio manager has so much capital that they have to execute the orders Over time and they have to try to get good prices for those orders and that's what you see in the order book Right Exactly. So again, if you have an idea of Where the big money is that's what you want That's how you want to trade and then you want to see how it trades when it gets to those orders, right? So this was the this was the spy that I showed These kind of lightened up because this is all relative. So there was monster Once this you know when the market opened these were really bright orange But then when this this came in right around 9 30 my time Then this made this these lighter Because that's another great thing to figure out when you can just glance at it and know relatively Hey, is this volume more than this volume more than this volume instead of trying to figure it out from from the order book, right? So Regardless when this came in this lightened these up, but you can see these got filled This area got filled and then this area got filled and once this got filled lo and behold gone And then of course re-rally, you know that day or this is right at the close. So um What I want to show next is Okay, so now I want to move on to the oh, I just want to show this quickly. I gotta bring it up but so Make no mistakes, right? Nothing is Is clear 100 of the time in trading, right? You're gonna have days that are Range right where you will you pull up the order book and you don't see You know, you don't see this It's not as clear, right? And I'm gonna show you here. So this is a range day. This was on 419 you bring up. This is the same thing bring up the cue. Okay. Now, which way are you leaning? This tells me that this is going to be a range day, right? I'm thinking these might get filled These might get filled, right? How which way is it going first? Don't know. You can use other means to figure it out But my point is Don't think that every day is going to be just this layup where you look at the ETFs and look at the futures and see all the liquidity on one side and look at the vixen You know, you can base a perfect thesis some most days are going to be like this where you can't make a decision, right? So um I'll show you the spider too real quick I'm sorry. I'm my charts were up until my computer crashed, but I mean look at this This is not clear, right? So on days like this You just lighten up or you back off go golf whatever the point is that's another misconception out there that great traders make money every day great traders Do not make money every day and and I actually had this fallacy when I started to trade longer term and why I mean longer term I mean like minutes instead of seconds, right? Because When I was at my height when I was making you know millions of dollars I was making money every single day like if I had a losing day I was distraught and it took me a long time to realize when you're trading more of a swing type trade You know whether it be minutes hours, whatever you're not going to have winning days every single day So you the days that it's not clear like this you just want to back off, right? You don't want to you don't want to be taking stands if you can't figure it out Which way you want to trade and have confidence in in that, right? The great traders, you know, make a little lose a little make a little lose a little and then they have these huge outsized days and Brad again, I'm sure you can attest to this for your hedge funds too Absolutely Scott and you know what really strikes me and what you're showing is that good market information Doesn't just tell you which trades to place good market information tells you when you shouldn't be trading and you can wait wait wait with patients For the clear setups and then you can put them on with meaningful size so that you can do quite well Right and I wanted to show this example just to show that everything's not always sunshine and rainbows, right? So it's like there's going to be days. You're confused. Those are the days you back off period I mean it's common sense most traders again They it doesn't hit them till after they have a huge losing day in a market like this where they're getting whipsawed This is these are the days that The owl goes low. They are waiting for the retail trader to get in there so they can rip your head off going back and forth whipsawing Right. So again, if you can recognize days like this before they happen, you can lighten up You can back off or whatever. So, you know, so you have your all your bullets available to fire at a market that is all Is aligned with everything else. So that that's my point there. So now I want to get into The new indicator are bruce. Have there been any questions or anything you want to let me to cover quickly Before I get into the new stuff Yeah, there's there's a list of questions. I'm kind of going through and answering some of them You've kind of answered them along the way I Guys, I don't know if we're going to have enough time to get through a lot of the questions Unfortunately, I will put scott's email Into the chat for you. You can reach out to him directly To ask questions. So that might be the best way because like scott's going to show something unique here In interesting, I think you guys really want to hear I don't want to take time away from that. So Why don't why don't you just continue on scott? I think that might be best Okay, yeah, again, I'm trying to I've got so many examples. Not so many, but just just of course Discombobulated because my almost church shut down, but so what I want to show you is a new indicator um that Just I mean it's been out for a while, which is even more amazing It's an mbo indicator and again bruce is going to go over a little bit after What it is, but I'm just going to give you my you know basic common sense breakdown making it simple Which what you should do with trading obviously where um, this this indicator shows you Where the stops And where the icebergs are being fired off. Um, so this is only cme data Um And the corresponding, you know, so obviously crudes and imics, but it trades under the cme So you can get the data there and it's only through rhythmic Again, bruce will go through all of this But I want I just want to go over kind of what this tells you and why it's so why it's basically 100 accurate Not 100 accurate from a trading standpoint as far as knowing that these are stops versus regular orders These are icebergs versus regular orders because these orders Have certain tags on them when they come through the market Um, which tell which tells the exchange. I mean the exchange puts this out Whether it's an actual iceberg that to put in or a stop Or just like when you put a stop in the market that has a certain tag versus a market order, right? So that's how they can disseminate this this information And now they've put it out for the general trader general public retail trader, which is game changing, right? So I've talked about since last october when I started doing webinars for book map how it's the holy grail, right in my opinion This is the holiest of holy grails Added on to the holy grail, right? I mean when you start to combine This information with your with the book map with the resting liquidity with what you're seeing in the charts I mean you are now in my opinion You are now on a level playing field with the big money, right? Because once I show you this and I'll have dr Brett kind of touch on it This is information that these quant funds these big funds have had for years, right? And that's why they never lose. You always hear these Goldman stocks Goldman sacks made money 198 out of 200 trading days in 2018 I mean just ridiculous and you're always thinking yourself like it's either fixed or they have information that the general public doesn't have Which up until a few years ago is exactly the case as far as I'm concerned Um And again, we can get in a little bit with dr. Brett, but back in the day They used to actually have counterparty information where you would be able to see Exactly who you traded with for a smaller trader. It's not that big of a deal But when you're a big trader like me at the time when I was trading thousand lots I would be you know if I jump up and take an offer I would be able to see who that offer was as far as what house, right? So back then I had a nemesis At another firm that we would go head to head every day It was like literally like a poker game and I can see when I would buy a thousand I can see 900 of them wore this one firm. That's huge information to have When you're making your decisions, right? If I jump on my butt 900 and I see it's it's like Merrill Lynch that I've never That I rarely see in the market that gives me pause like oh shit. I might be wrong here part of my language, but It's just it's just an advantage to know who you're trading with right? So this is kind of like that kind of information that you can use for your trading. So Let me go over here what this is. So This information shows Stop runs and icebergs. So the icebergs are blue stop runs or orange or red or whatever color this is, right? So When I say bid icebergs, so when you see this the line go higher That means there's resting bid orders in the book hidden, right? So with icebergs for those that you don't don't know what icebergs are It's like a hidden order where you just have to display a certain percentage and I don't know the exact percentage But you know you say you have to put say you have a hundred lot iceberg that you want to that you want to put in the book All you have to display is 10 lots of that hundred and then you got another 90 behind it That they that they have to sell through to have it go lower. So it's kind of like this little hidden game where You know, there's a lot of different strategies to why my people use icebergs One of the reasons is a lot a lot of times firms don't want to show How much they really have to get off, right? You know, they don't want to show I need to buy 20 000 contracts here. So they put in, you know, 500 and the behind it is 19 500 Which is significant information if the market keeps plowing into that order And it looks like 500 and it just market keeps spinning at that price and all You know when you're watching it on the order book, you don't know what the hell is going on When you see it on here and then you're like, oh, okay. Well, that's it There's a huge iceberg order there which affects the market, right? So if you're just think of it if you're if you're a you know, a big player and you want to sell You want to sell through this area and you start selling selling the shit out of it You just keep selling selling selling and the things not going lower. All you see there is 100 But you're selling you just sold 2000 and it didn't move lower. What's going on, right? This is what's going on. There are resting hidden iceberg orders You know below I want to say below the market like hidden orders when I say below so This the blue shows you where they're basically taking them. So these are passive icebergs taking the sellers So these are aggressive sellers selling into the passive buyers the passive icebergs, right? So this is one type of passive buyer where you can see this is you can see this liquidity This is a different type of passive buyer where you can't see it But you can see it with this information, which is huge, right? So That's that the the orange is Her stops so it's a specific order Everyone knows what the stop is because you have most traders have to trade with stops to get get the hell out of their position If they're wrong, right? So what this is telling you is these are big stop runs that are firing her off, right? So the when I was talking about early the aggressive orders the aggressive market orders Yeah, these are aggressive market orders, but they're stops, right? So why is that important information? Because when I see stops I'm thinking The uninformed retail trader that doesn't know what the hell they're doing. They're all puking at the same time This is not big money, right? So why it's important if you see stop runs There there's most of the time you're not seeing that's not big money That's not the that's not the player the the houses the firms the paper we call we call paper I'll refer to it from now on that's not paper selling, right? So this market most likely Is going that most likely. I mean a high percentage of the time is going There's nothing behind this the stop run, right? So these aren't these aren't legitimate sellers These are guys that are puking out of their position. That is incredible information to know When you're say say you want to get long or you're looking to get short and you see this like yeah Look at these you know again if you're just using book map you see this you're like, yeah, they're pounding this But when you say here like oh wait, that's a stop run that that's not informed traders That's the the clown retail trader which I am at this point now, too So my point I'm not making fun of anyone. I'm just telling you this is uninformed money Then when you combine a stop run with what the smart money is doing they're actually buying here passively What does that tell you that tells you that this market is probably Most likely a high percentage not going to go lower lower at this point in time. So That is you know, that is incredible information. So you can see here With this graph again, I just want to explain this So you can see it here when it's happened in real time. This what this was more over here this These geared chart thing here, but You know this shows you here, but you can see over here what the quantity was right? So This first stop run here. I mean, I'm sorry. Yeah the stop run here was about this is the orange or red It was over 200 The icebergs war you go to left here. You can see the blue. There's about 250 Again, and don't get confused. Um, you know, oh, well, I don't think 200 is a lot is a lot of size I don't think that's not enough to move this type of market. Just let the relatives Dictate what what it means, right? So when you start seeing huge spikes that haven't been seen all day, right? So this is the biggest buy iceberg of the day. This is the second biggest iceberg. This is the biggest This is the second but look back. Where do you see anything like that? You don't right? So this tells you I don't care what size it is relatively This was a lot of buy orders for for this market at this time, right? So that's really important to know where you can just wait for these outsized icebergs to fire off And then that's where you can you know, you can build a playbook on that that trade alone You know good doesn't even have to have anything to do with your charts Um, so that's what this information is telling you Hopefully that's clear Bruce again is going to go over a little bit at the end and he's got the He's got that print out in the if you go to the handout you click on that There's another link that kind of shows you some examples as well besides mine Um, that'll be very helpful But again, I'm available to all my information's in there to help you guys you know navigate through this But it's pretty straightforward Once you shot can I jump in? Yeah, please do so I get my other charts going. You know my audio Went off for a minute there. I wasn't sure what was going on but um Think of it this way when you can see the icebergs when you can see the cell stop runs, it's like Seeing the other players at the poker table The smart ones the not so smart ones these are tells that you see around the poker table to read the intentions of the participants And by seeing the intentions of the more sophisticated and less sophisticated participants You can make more educated training decisions Oh by far absolutely more again Nothing is 100% right and I'm going to show you some examples here on when the icebergs were actually wrong Going the other way, but I can show you how you can utilize that As information as well, right? So why I showed you this example was because you know when you're just using book map This is the same area, right? So you're using the resting liquidity. This looks good. They can't get it through Just like what I showed earlier, right? But then when you add in your stop information, right? Now you have this information that you already know anyone who's been already using book map now you tie in the The stops that are fake fake money in my opinion You know that's not going to continue to move most of the time or a high percentage of the time And then you add in icebergs from now you have resting liquidity. That's feeling it You know there's icebergs there. You know the big money is buying here with iceberg I mean you don't get a better A better signal signals for trade as far as You know percentage high percentage trading and risk reward, right? Because if you get long here the minute you see this start to buy say you wanted to get in right away All you got to do is buy when you see the blue and put put your stop below the red It's I mean it's literally that simple It work as far as controlling your risk, right? Because you know if this thing turns around which it did But but it didn't get through here again, right? So if this thing turns around and sells off and these icebergs are wrong You know you you want it you're getting out. You're not risking a lot to get in this trade, right? You're risking maybe 20 ticks, which is not a lot crude these days But then you catch you catch a huge, you know, you catch a 40 tick move So the point is you can you can gauge your risk reward By not just the rest, you know the resting liquidity, but the the iceberg orders So Hopefully that's clear as I get in you know, I'll do give a couple more examples And I'll show you it might be more clear Um, let me see here Okay, so this is um This is the naziq from 413 at the so you can see here This is stops This is the opposite icebergs, right? So this means when you see it going lower that means Paper again, I'm referring to paper is big big money paper is selling. It's a bear iceberg, right? So you get a stop run couple with the bear iceberg lo and behold. It's a top, right? So you had actual selling So this is also this is also pretty Interesting where you see buy stops firing are off You see red that's there's something missed here meaning the big money is aggressively selling here too So it should be blue and what I'm saying is if you see stop runs most of the time you're going to see them You know, it's a it's a buy stop run because this is going higher You know, this is going up You would see blue here not only do you see the red aggressive sellers now You also see that the hidden icebergs are selling too that turned out to be a top comes back test that area Doesn't get through fails, right? So even if you don't get aggressive right here, you can say, okay I'm going to wait for a retest and see what happens then I'm going to get in right perfect trade here Same thing happens here You get another stop run meaning the uninformed trader is puking out Was a top I mean it wasn't really an iceberg here But it was there was a you know We're just telling you that is this buying real or is it is it Meal is a big money or is it the uninformed trader that tells me Okay, be aware that if I want to get long I'm not, you know, this is not what I want to see. I want to see the big money coming into the market And lo and behold it stops pretty much where it did before right here, right turns around sells off Now I'll get into this in the seconds I know some traders are and this is where paper was wrong and I'm going to show you this here an example And then in a second where Came down and then now you have some buy icebergs here and It failed right so again This is not nothing as 100 percent in these in trading But now that you know the area that traded that failed That's that's good information. So I'll show you this a little closer up here in a second But then again, you have another stop run You have a little bit icebergs, but just just the uninformed trader tries You know, this is not real buying once again into the resting liquidity fails again. So again, this is telling you What is really happening that this buying at the at the at these times is not real buying. It's just stops It's not the big money that wants to that wants to enter the market. That's really good information to know um And then here, you know, this very first time. This is the biggest of this whole move This was and in this area held multiple times. This was the houses getting short or the paper getting short So For you those of you looking at this spike, which was the highest buy spike of them all in this example that I have On the chart here See if I could pull it up here if I have it Of course, I don't Brett, do you want to chime in on that at all while I pull up this other example Yeah, yeah, Scott, you know when we see an iceberg that does not absorb The selling or buying It tells us something about the market conditions at that time that too is information All the iceberg is telling you is what the Large market participant is doing and what they are hiding The question is do they have enough power to be able to contain the moves that would fill the orders? And as you point out Scott, sometimes The icebergs get run over sometimes Orders from the big participants get pulled because they see new participation Roaring into the market and that's what creates some volatility. That's what creates some big moves So it's information too when the icebergs can't contain the selling or buying flows Right, exactly. So this is exactly what I was saying You know what dr. Brett was talking about here where You know, this was a big iceberg by iceberg meaning they were taking they were You know resting bids or hidden bids that were taking the sell sell move here But you can see where this spike it went right through it, right? So again, nothing is 100% trading paper is not always right But you have an area now where you know paper took a stand that is a significant area or could be right? And I'm going to give you some examples here in the s2 where You can see this right so they were wrong. So even if you did buy here first of all I wouldn't have bought again a lot of these are not most of these examples are not trades I took because I'm learning the iceberg too. I've only had it for a few weeks But I you know, I go back and I look and I say, okay, this is this is area So even if I was even if I saw this iceberg, I'm not buying here because I don't see I don't see any blue coming in till down here and that's all already through But you can see here this comes through here. This this rips through here This is where the iceberg was it comes up. It tries to buy through that area fails Boom. So this this area is significant Drives it again turns around sells. So, I mean, this looks like a small move But this is this is you know, 40 point move in the nasty, right? So again, if you wanted if you wanted to say, okay, this iceberg failed I want to see what it does when it comes back the second this fails Meaning they try to buy it the selling comes back in I'm short right here I'm going to write it down here until I see buying you would have caught yourself a 2030 point move But why this is significant now is because remember always remember the areas and take note of these areas where paper was wrong And it stopped once it got through here and I look at this So when it finally did get through where this initial iceberg was Now that could be a long said again, you have to come up with your own ideas after watching this There's just a few of the ideas that I've come up with so far where it broke through And then lo and behold look when it came back look where it held Right in that area, right? So it's like once the paper was right again or once it got back above this now that's That you know that the age old adage to support becomes resistance resistance comes to support So this was resistance the minute when it blew through here now when it came back and they couldn't get it back through this area here Now you can get long right so this I have right here now support So my whole point in this is It is not a hundred percent and you're going to find areas that paper is wrong But you can still take advantage of it is what i'm saying with this information. This is incredible. So um, my next example is see if I can Again, sorry that this is so convoluted now, but Okay, so this is the emini s and p where This is a really good example where it comes through Resting liquidity resting liquidity again meaning visible liquidity in the book visible liquidity in the book now look what happens Huge iceberg spike. It's close to a thousand and what I've noticed so far Um, you know in the emini s and p if you get close to a thousand that that's a lot that that's something to To take note of right so I see a thousand icebergs I see a five of them So this is by far the biggest iceberg of the day right you can see here look at the icebergs up until here Boom, then nothing after that. So that's significant, right? Then you couple that with a I'm gonna call it dumb money. Okay. I'm the dumb money nowadays too. So don't take offense to it The dumb money's selling meaning that's not a sustainable selling in my opinion. It's not paper selling That's 513 which is a lot for stops, right? So you got those two combined in this area that was Resting liquidity that you can see This is a high high high percentage trade again Doesn't mean it's gonna be 100 but you take a trade here You see buying start to come in once it runs away from here You could put your stop just below here and you catch you catch a You know Almost a 40 point trade here, right? So up in the v-wap even if you wanted to get up a v-wap It still is a 30 point trade so This is a good example of you know extremes and again, you're gonna have to play with this yourself With my opinion so far, you know, you get up 800 a thousand icebergs in the e-mini s and p That's a lot. That's something you need to take note of especially if you're running into resting liquidity That's visible. These are all you got to remember this. These are all areas that 95 plus percent of the traders retail traders They do not have this information, right? They don't even have this information let alone this information now when you combine it Um, it's incredible. So let me show you what that looked like On a chart. I already showed that Here we go So this is what I mean about coming up with your own ideas as far as you know What you look at in a chart, it could be anything, right? So i'm gonna give a couple different examples here and I know dr Brett's gonna like my one here with the tick extreme, but So this was the same area, right? This is this area on a bar chart, right? So first of all, if you're looking at a bar chart, how do you know this is going to be the low? You don't right? You're just guessing and see so what I have here again I make trading as simple as possible. I use the VWAP. I use that they call this a daily value area Which is a two standard deviations away from VWAP, which I've learned from smv trading merit black He's a great resource Do you guys want to learn the future side as far as you know charting and stuff like that and? You know value areas But all these lines are the middle this blue line. I think it's blue or purple It's VWAP. Most people know what that is now. It is google it'll be explained And then these are the standard deviation So my point is if you were buying V just the standard deviation the daily value area low We call it right here. You're wrong. You were wrong and then you were finally right, right? So why was this area significant if you don't know anything else you don't you're just guessing You're taking loss loss and then you get lucky here as far as bar chart reading, right? So this here I have a dba low here So the point is when you can use real-time volume to know Okay, now this dba low is in conjunction with real-time volume in the book icebergs going off stop runs going off This gives you an incredibly high High trade or high percentage trade The other thing I want to show here and dr. Brett is a big proponent of the tick which he should be This was the extreme of the day of the I had this as a little moved over But this area was was this right? So a lot of times when you see extremes that's a reversal, right? So if you're just trading bar charts alone, this is a pretty high percentage trade You got to move into dba for the third time you get a tick extreme Most traders are going along there then when you tie in that extreme with this You're you know, it's incredible. This is incredible information And then one last thing I'll let dr. Brett talk a little bit about the ticks. I know he loves the tick um This was this exact low here Was the exact low before this humongous move, right? That's telling you this is not coincidental, right? This is big money that got long that was right The point my point is Take note of this area when this market comes back down here You know, again a bar chart trader has no idea. Yeah, it was a lower low They might be looking at this But you know as a book map user that this low Corresponded with some monster volume huge icebergs Take note. So when this market eventually comes back down here Take note of this area just from what you learned today It could be a huge setup whether it's along or even if it breaks through that's information as well If it breaks through on the downside So Brett you want to touch on the tick a little bit or Yeah, yes Scott. Thanks. Thanks a lot So the tick tells you how many stocks in the new york stock exchange universe are trading on up ticks Minus the number trading on down ticks at any time to get a number like negative 11 48 means you just have to have Massive selling across a broad range of issues. So there's puking puking puking. They're selling Just about everything. That's a really extreme value and so When you get some of these extreme tick values and you can't make a new low or you can't hold a new low That becomes useful information Other useful information Is looking at what sectors of the market are doing While these icebergs are going off while this negative tick is going on For instance at the absolute market low from the recent decline the the low we had in february We hit 2,200 something in the s&p Actually On that day where we made the new low, there were fewer stocks fewer individual stocks Making fresh lows on a one month basis In other words, there's puking puking puking lots of selling but certain sectors certain shares are holding up That's useful information when you combine that With what you're seeing in the order flow and what you're seeing with the icebergs Yeah, exactly. So again, I give these different examples because some and i'm going to show you an actual trade I took some traders trade off the ticks some traders trade off vweb Standard deviation some trade off of you know, the point is you can utilize the real-time information with anything that you look at And and be a much much higher percentage trader. That's the point, right? Not that my You know my strategy or the way I trade is right versus yours What is right is what's really happening in the market and that's what this that's what book map tells you So i'll just go over quickly a couple other Um Couple other examples of the icebergs. Um, I showed that Okay, so this was actually a good. Um, it's a good example of everything wrapped up into one. Um But I already showed this is the one I already showed Yeah, I already showed this i'm sorry. Um, yeah, so this is this was that area where You know, you had the you had the icebergs and then you had stop runs. Oh, no This this is this is a different this is a different chart. So quickly same exact type of look, right? So this is perfect. This shows both ways, right? So here They try to they try to sell icebergs buy it Moves up comes back low and behold holds right there, right right here holds This is significant area. That's why because this is for the icebergs to stand. This is not this is nq So say so say I see this it riffs up. I'm like, okay I'm not chasing I'm gonna wait for it to come back and then get long and see if it holds Which it does right here. I would get long right here stop right here now. I'm long, right Now where am I getting out? Okay, same my strategies. I get out when I I don't get out until I see a stop runner icebergs Perfect example. Here's moves higher moves higher Wait, is this is this real buying or is this the uninformed trader? Oh, it's just stop run Okay, now now I got to pay attention doesn't mean you have to get out right away But you start seeing some selling you might want to rethink your you know your profit potential and maybe get out Then you combine here's a side here's an iceberg here's a selling resting offers iceberg big buying aggressive buying right into an iceberg. Hey, look at that stop Down comes back. Hey, look at that. That's exactly where the market stopped Again, a lot of these times you don't have to be aggressive right here You can wait for retest then get short right just to confirm what you're seeing stops retest goes down Then here's another example of icebergs wrong icebergs tried to buy right here Right through it. So again Just because you see the iceberg doesn't mean you just blindly jump in and you can do whatever you want Is your money if you're aggressive you can jump in but when I see icebergs firing off I want to see them right. I want to see the regressive buyers come back in this is straight through Now this tells me okay. I can't wait for this area You know either I get I'm going to get short right here I'll put my stop right here or I wait and see a retest and see what it does and you can see it came back I don't have the rest of the chart here, but For short term it came back right in this area Started to turn around again So this is a really good example of all you know all the different the stops the icebergs icebergs being right Icebergs being wrong, right? So again, it's just relevant information whether they're right or wrong It's still relevant information. Even if you take a loss your next winner is going to be five to one type of thing Right, and that's what you want with trading Um, Scott Kai jump in if you could keep that if you could keep that chart up there Yeah, so so here's a general rule. It's an approximate rule That I have found helpful remember I mentioned that A lot of the edges we're seeing on the intraday basis Are buyers who are trapped who have to sell sellers who are trapped who have to buy If you look at the amount of volume that is trapped That will be proportional to the next move in the other direction So in the chart you see here, there's a fair amount of buying volume that's trapped And so the first down move where we see that first iceberg doesn't hold There's too much buying volume trapped We need to go lower So looking at not only who is trapped the buyers are sellers, but how much is trapped Can give us some estimates as to the magnitude of the coming move Exactly love it. Absolutely. And by the way, this is real trading psychology Not just a bunch of would-be psychologists telling you to relax and control your emotions. I mean, please Exactly, exactly. Yeah, you know what I'm saying Yeah, I know what you're saying. Dr. Brett had many episodes of me when I was a younger trader of losing my mind and breaking screens and things like that. So Luckily, I've become a little more mature in my older age But Dr. Brett's seen it all which is we were reminiscing last night about it some of my episodes But you know trading is emotional. It's really emotional if you don't know what's going on That's what triggers me when I don't know a reason and I've Somehow some way becomes so much more calm with this program and the reason is I was a joke because Now I know what's going on, right? I get frustrated when I I feel like I'm being taken advantage of And I don't know why meaning when I have a losing trade when I see what's happening Even when I'm wrong, at least it makes sense to me, right? That is a huge that is a huge leap in trading When even when you're wrong as long as you can make sense of it, that's huge, right? Not Hey, this went through VWAP this this this bounce off VWAP this bounce off VWAP all that ripped of it VWAP this time Oh, that's just trading. That's just percentages. Yes, it's percentages But that again, I use that example earlier. That's not enough for me I need to know why right and this tells you why majority of the time Um quickly, I'll do uh I can just show biz guy. That's a great point just real quick I want to underline that many times the frustration that we feel in trading is because we don't Understand what's going on and we don't understand what's going on because we're not looking at the right things Exactly and that that's the key for me. That is the absolute key Um, and hopefully some other traders are starting to see something here where they're like, oh my god This is this is what I needed this for all these years. So this is an actual trade I took Showing you So this is crude. Um, so you can see here here's some selling aggressive selling through liquidity Again, if you're if you're if you're just looking at bookmap alone You may say hey, this is this might be a short here, right? And it could be absolutely But when you tie in icebergs, this move comes down here. You see The buy iceberg so so look right here. This was I didn't I didn't take this trade But look here comes down. Look at the buy iceberg at the time It was the most of the day turns around grips away, right? And I have noticed that crude's been a lot more reliable with the icebergs as far as What I've seen so far again. I'm pretty new to it two to three weeks, but I've already seen The credible edge it provides. So anyway, this was an iceberg kind of got long comes down here You see this is what I wanted to see, right? Here's the uninformed stop run to the sell side That that's good telling me this is not real money pushing through this liquidity. These are stops These are the clowns and again, I'm one of the clowns And then you couple that with some iceberg buying That's a long signal, you know as long as it can get above and I didn't take it right away I kind of waited for a retest and then when I saw this liquidity come in again, I'm like, okay I'm golden. I mean not golden, but I have a very high percentage trade here. I'm only in a risk, you know Down to here if it can break this this at the time was like 20 ticks 25 ticks or whatever Anything it was that much but anyway, so I got long here and then I'll show you what happened So again, I didn't get out my my usual trading style as I've learned to become a swing trader Try to become a swing trader. Is it real hard? You know the minute things start to run on my way A lot of traders most traders could attest to this. I want to get out for a profit, right? No, I tell myself I'm not getting out till I see something the same reason I got in, right? So we come up here. This was you know, it's 70 tick move 80 tick move You see a stop run To the upside meaning this isn't real buying in my opinion at the time Then I see the icebergs taking the orders Perfect reason like right here. I kind of jumped the gun I'd still not a perfect trader obviously But then when I started seeing the the aggressive selling come in then I was out, right and then Just want to show you a couple of things here with this trade Then we can answer some questions So this was the kind of scrunch together where you can kind of see the entry and exit So this is where I got long you see this huge will clearly come in That's when I was like, okay. This is this is a really good area I caught it up and actually I got out And I missed so went a little higher went up to here and then the icebergs fired off on the downside again And unfortunately I was on the golf course, which not unfortunately That's actually a good thing But that was a very costly roam because this thing turned around and sold off 50 straight ticks down with the same exact setup as I got long and so The point is but the thing is I was proud of this trade because I got out for a reason I mean, I mean almost two grand on a three lot, which is a great trade, right? So It just goes to show you too. I'm not some you know monster trader like I used to be I'm kind of just like in your boat where you know app But the thing is the more confident I get especially with these tools That's where I will get bigger and bigger and bigger and that's exactly what happened when I was at king street I started trading ones and twos like everybody else, right? And then the more confident I became then they were twos and fours fours and eights And all of a sudden I was trading 15 100 100 and 200 So don't think that I got was just handed some huge size here good jump in the market See you can do I started just like you The more confidence I got back then the bigger I got and this is the exact same thing So, you know a few months from now This is going to be 60, you know 30 lot versus a three lot Just because the more I see this the more I know it works the bigger I'm going to trade And that's how all traders should ramp up their size Do you have anything to say about that dr. Brad as far as you know gaining confidence and You know, I know a lot of these big firms talk about, you know putting on when you believe in something You know, you need to take advantage of it and put on bigger size. Do you have any Anything about that? Well, you know as The the folks I work with at smb talk about Consistency of profitability has to come before size Consistency comes before magnitude of profitability And so we work on small size getting consistent in reading the market and then once we have that consistency That's when we can grow the size Exactly and that's exactly what I did. I mean again if I can do it. I did it back then I'm going to do it again Dr. Brett's been been my biggest cheerleader for all these years Is waiting for something to get me back in the game and you know, we introduced me to bookmark Well, you said like I said earlier, you know, I'm going to get there again, especially now that I feel that's how Again, I don't get paid to do these webinars. I do it because I'm so grateful to dr. Brett bruce It introduced me to this program like it makes sense to me again, and I couldn't be more excited Just quickly. I just want to show you in a bar chart what that looked like So this is this move here for the bar chart traders, right a lot of traders trade breakouts, right? So again This was actually a pretty at the time. It looks great like right here looks. Oh, this is an easy trade Right this is actually starting to frustrate me because it took an over an hour for this to happen, right? But for instance, say you're say you're a bar chart trader say you like to trade breakouts, right? This is a perfect example of a balanced area meaning back and forth trade You know building up energy and say you like to take breakouts, right? Well a lot of breakouts go like this and then fail, right? What could have given you the confidence that? This was a legitimate breakout. Well the real-time volume you knew That this all happened. You knew icebergs took a stand You saw the liquidity coming back in the minute you see the big buying as a breakout you're long, right? Most night again 95 plus percent of traders don't have this information. Yes, they take the trade. Yes, they were right But why were they right? They were right because the real-time volume Dictated what was right not not some lines on a chart and the other thing I want to point out too Kind of like the mini s&p. You notice how this area Corresponded that was right here This was it was retested the next day for 16 So this was for 15 was the date that this all happened. You notice comes back to the exact That's why I have this this alert here comes back to the exact area And then the next day opens up that that you could predict this move my point is There's a reason this happens. This area was relevant. There's something going on here The point is when this comes back this comes back to this area take note, right? You knew from your experience of looking at the icebergs and everything else that this was significant here Let's see what happens when it comes back here. It's going to give you information The bounces gives you information to be long if it gets through that's relevant information to be short So again, there's so many different ways to trade this You can the whole reason I show you this stuff is what I look at but to just show you you can use multiple different things In what you're already doing and use this to enhance it to a point where you are now a profitable trader That's all I got Bruce a lot of breath here, but any questions for dr. Brett or I? Um, yeah, I mean, I've been just really just busy here trying to answer as many questions as I can um, there's some questions in general about uh, you know, um, uh, some of your, uh You know, what what exactly are you looking for like for a turnaround? Um, and Trading into high liquidity. You see the stop iceberg tracker You see the stops you see the icebergs Uh, and then you know and then what? Um, when you start to see the buyers start to come in on the other side, right? Right, so I mean again, it depends on what you're comfortable with if you want to be aggressive And you see this fire off you can get you can get along right here But I've showed examples um where the buyers weren't able to step up and these icebergs were wrong I'm going to rip right through I from my trading I need to see Some aggressive buyers meaning blue bubbles start to come in then I know okay The buyers are starting to fight back a little bit. I don't I don't want to be getting long just because of niceberg I want to see real-time buyers kind of fighting back as well. That's what I personally want to see You can again, it's your money you do whatever you want If you wanted every time the iceberg fires off you want to fade you want to go on that side You'll probably be a high percentage trader I just think it's more high of a percentage to be getting long when I see The the aggressive volume meaning the blue bubbles come in my favor of what I've seen here So I knew the icebergs were bullish. I want to see some bullish real-time volume And that's what I saw and that's why you see my entry right here because that's right where I saw the buy income Right stop and Scott if I could just jump in here What you're saying is absolutely right. You don't want to necessarily catch the falling knife But you'll see the blue bubbles come in if you're looking at that NYSE tick that we talked about you would see A decrease the level of downside tick it starts you're making higher lows You can't you don't have as many stocks ticking down over time and then the tick will turn positive And it's that transition in the tick which corresponds to those blue bubbles that tells you Not only did you have an iceberg absorbing the selling now? You have initiative buying going on and because enough volume is trapped You could afford to wait for that buying and ride it higher Exactly exactly. I mean Again, you got to use I mean ticks for the tick does the crew does trade off the tick a lot as well But you know ticks for the indices or you know e-mini s and p and asda as well But you know again, you don't even that that's just extra information that just helps enhance your trading probability But again, I back to the question. I just looked for some real time. I know these guys You know, I know this move here was pretty much fake. I knew that I know the big money is taking the orders I want to see some real time buy and come in And then I'm gone. I don't always have to see resting liquidity This was just this just help. I should have actually put on more once I saw the balance area breakout like I showed you I should have even put on more right because this is one of my signals But I was long and you know, again, I'm just I'm kind of just learning the icebergs as well And I don't want to fire and have a huge losing day when if I'm not seeing things correctly So again, this just helped enhance my trade. Um, but that's what I love and one more thing scott You know, so for the futures markets like cl You know, you won't have an nyc tick measure because that's the number of stocks ticking up versus down But what you do have are delta measures Which is the proportion of volume that is being transacted at the market bid price Versus the percentage of volume that is lifting offers And you'll see a transition from hitting bids hitting bids hitting bids to now suddenly with those blue bubbles lifting offers lifting offers So that acts like an nyc tick measure if you go on my trader feed blog Trader feed blog spot.com. You'll see examples of that Delta measure and how that has picked up some really nice moves in the uh, es futures market Right and kind of what to we to what he was saying here. I mean you see the huge selling I mean, yeah, I was stopped but you see by the size of the bubbles that tells you to right Then you see some buying now look at the difference look at the difference between this bubble and this bubble This just means they're aggressively the sellers are starting to not be as strong They try one more time This is a little more than this but it's still significantly lower than this And then you see the buying and then off to the races, right? So again, you use this in conjunction with what you're looking at what makes sense to you And it just gives you so much more of an edge than Almost everybody that's trading retail wise um Anything else bruce? Well, we've been going an hour and 20 minutes and I know there was a a bit of a delay in the beginning there And apologize for that guys To get scott kind of up and running In his images back But let's um, let me show you this guys and I think this because there's a lot of questions coming in about this And if you have particular questions about you know, like scott's looking at the you know, the this VWAP, uh, you know You know different Oh, what's the word standard deviations, etc. Like all of that kind of stuff I think it's probably better if you if you just reach out directly to scott on that his email is in the chat Um, I also i'm putting in here. Um, uh, I forgot. I'm sorry Dr. Brett, I have his blog Link in here as well. So you guys have that in the chat But if if if you guys don't mind I'll I'll take over for just a minute and this will answer a lot of your questions about this new SI indicator And then we'll go over any kind of parting thoughts with with both of you guys Yeah, and again, you know I went over a lot of stuff. Um, I do mentoring my website scott pulsing trader.com You can reach me there. Um, I think you have my email as well If you have questions just fire some questions to me. We can do mentoring whenever you want, but Um, I will give this to you right now Okay Just a moment here Okay, all right. Can you see my screen? Yeah, okay. All right. So, um, let me open up this pdf and it's in the chat. Um, so you guys Or I'm sorry the handouts folder, right? So you'll you'll see it in there Uh, and um, and then we'll also I'll also go through some of the links here about iceberg detectors I've been like copying and pasting them all all into the in the chat here for you guys So you have all this information? Uh, and um, let me get the pdf as well. Here it is. Okay All right, so because If I just quickly just spend just a few minutes here I think this will really help you guys because um, you know, this is kind of important this This is um, we haven't even publicly released this yet. Uh, Scott and and Brett wanted to go over these examples and We're kind of like not quite ready. We haven't even introduced or you know, made public the uh The marketplace yet a new marketplace. So Anyway, so this is very temporary for now is my point. All right This is what you will need in order to get that mbo bundle with that the stop iceberg tracker You will need a a subscription to book map either global or global plus And you need the alpha version. I think it works with 7.0 as well, but get the alpha version 7.1 Then you will also need a separate subscription to rhythmic data for the cme Okay, it's cme rhythmic and book map and the si indicator. That's what's required here Uh, the all the cme instruments, you know, like you can see them listed here There's the escl nq, uh, you know, gold bonds notes all that kind of stuff. It's all here. All right So that's what's required. Here's the the process you can go through and again This pdf you can download in the handouts folder if you click on view You'll see the handouts folder in there somewhere. Okay, and then put a check mark next to it. Um All right, so uh Once you subscribe to book map, uh, then you know go through this process here I'll go through it very quickly. Um Then you'll need to also subscribe to uh, rhythmic. There's a 14 day trial link here as well Okay Then there's the subscription to the mbo bundle here. Okay, this this will take you to the marketplace There's a video to watch, uh as well and then the There's a symbols guide here for all the different symbols from rhythmic that you'll need us to uh to input Now if you want once you go through this process and add book map Or the mbo indicator to book map you may need to restart book map Okay, so just uh note that try that before reaching out to us in in support and saying it doesn't work uh, and then Uh, there's the article here. This is important because the article here Will take you to Okay, uh and go through Uh All the details here. Uh, a lot of you have been asking about what setting is he using Uh, etc. Well, you know, all the settings are explained here And then there's all sorts of examples of each setting and what they're showing Okay, so this article should be very helpful for you. Uh, it is on our blog All right, uh, I just want to jump in real quick. Um, the setting for the iceberg and the steps I use the exponential. Uh, they have exponential on reset. I didn't really get into that You can learn that but personally, I'm using the exponential. That's the what that's what you're looking at on my charts Right, right. Yeah, thanks. Thanks for telling that scott um, if you guys need further support reach out to us at support at book map dot com and you know as uh, both scott and brett had uh described here in the article we go through and say look, this is not a A red light green light system Okay, what is showing you is just more transparency and and that's undeniable I mean This emphatically shows we know this this is due to the market buy order data from the cme that we can now Show with you know 100 surety. We know that these are stops And we know that these are icebergs and that's that okay. It's all in the article And there's there's i'll show you links here To you can look up mbo cme data. Just do google search for cme and mbo, etc All right, and uh, yeah, just to read the risk disclaimer here as well about uh, can I just jump in uh, Excuse me. Can I just jump in real quickly? Unfortunately? I have a 12 30 eastern commitment and i'm going to have to take off Uh, but I want to thank you guys. I want to thank you scott for having me be part of this It's really interesting really exciting to see Different data used in different ways and ways of putting that together to develop new edges And I look forward to interacting with traders my email address is on the trader feed blog site Thank you Thanks so much brad is good to get back get the band back together again. It's awesome. There you go Yeah, thank thank you very much brad. It was uh, thank you. Be well. Be well. Yeah, take care Okay, um, so anyway guys The all the information's here and and just note that this is temporary because soon You will be able to get rhythmic from our website, right? So Just this is the I know you you have to get all these kind of things a little bit separately at the moment to run through some hoops Uh, but you can get it if you want it All right, so use this guide here, uh, and then also that article, uh, and you know all the information Is in here. Okay And so if you reach out to us at support at bookmap.com They're they're going to just probably just send you this pdf. All right and and the link to the article Because this is the process to go through. Uh, anyway, uh, let me um, uh, turn it back over to uh, to scott and just go over any more kind of information that You wanted to kind of follow up with scott So, yeah, do you I mean I can answer any questions if you have time. I mean, I'm I'm fine with time. Um, but do you have the uh, list of Um, oh you're giving me back your screen, but do you have the list with my information like the website and all that? Oh, yeah, I've been putting into the chat. Um, Probably about four or five times throughout this webinar Oh, okay. I just didn't see it in the handout thing. I thought that's oh, that's not in the handouts It's actually in the um, in the chat So, uh, yeah, look into the chat. All the links are there. Uh, scott's email is there, uh, as well as his website, etc So, oh, yeah, that's it. Awesome. So, yeah, any any specific questions regarding, you know, his trading style I mean scott does mentoring so you can just reach out to him directly. Okay. Um, guys, I Let me take a quick look here if there's one maybe parting question or anything that you want to go over scott No, I mean, I've gone over pretty much, you know, obviously it was fast, but um, I went over everything I wanted to go over Okay, I mean, I can't answer any questions or try to Okay Okay, um, let's see I guess I could be looking at it too Keep forgetting I have the access to the chat here uh, yeah, no, I mean just, uh I think we pretty much gone gone over everything. Um, I I think, uh, we've we've you know Want to respect your time as well. This is an hour and a half now Uh, it will be recorded. Uh, I put the recording link in there as well Guys, again, like this will only work with uh, you need a combination this it's in the pdf These this combination of things first you need to subscribe to book map second, uh, you need to subscribe to rhythmic data for futures and connect book map directly to rhythmic It won't work through ninja trader ninja is going to strip out the mbo data Okay, because the data first comes into into ninja and then it is outputted to book map And they that's they're not going to read that mbo data. So you there's no, uh benefit at all Uh, until they read that mbo data and output it Okay, so you will have to you will have to connect directly to rhythmic, right? And again, it's only for cme Okay, so that those are the three, uh things that are required Well, and then and then the subscription to the um mbo bundle. There's more in that mbo bundle. There's You know getting three indicators actually and I haven't covered any of the other ones Right, so I just just wanted to mention that um, and uh, I think I think that's it. Um, so, uh, Yeah, excellent example scott. I I love the way that uh, you're you're using this and and looking for that You know confirmation at specific levels. You already had it and now you're just with a level of surety That is just enhanced With transparency here in the marketplace Right, absolutely. I mean again, I mean, I know there might be some latecomers that didn't hear the beginning of the conversation But you know, like you say on your um handout, I mean, they're 100 percent Accuracy as far as the types of the order types that are coming in because those are labeled a certain way based on stops And icebergs. So, you know, it's not just some guests that these are icebergs or these are stops Like you know, that's what is happening, which is just incredible information. Yeah. Yeah. I mean, and that's our future now I mean, that's what or our present and and that's what we're getting now as retail traders, which is amazing So we now have access to that guys Anyway, let's let's wrap it up. Thank you for coming everybody. Thank you very much scott. Um, I think uh, it was a fantastic idea of Of getting you and dr. Brett together for this webinar and I'm going to try to rally or you know Get another one going here in the near future sometime if we can Absolutely Okay, all right guys. Thank you very much. We'll wrap it up and we will continue another time. Okay All right. Thanks guys