 Okay, welcome to the bookmap platform details webinar. This is Bruce at bookmap risk disclaimer trading equities and futures involves substantial WISC of loss. It is not suitable for all investors past performance is not necessarily indicative of future results For more information go to bookmap.com There's a free trial 14 days it comes with education. There is a Link to the bookmap educational course There's access to the advanced order flow webinars Those start in about a half hour. Okay, so we look at the the live markets and Understand the order flow and start to anticipate the price movement This webinar instead is based on a little bit of that not not much We're looking at just the basics of bookmap. There's a lot of new traders in here So we're going to go through what book map is showing you How to read it? How to use some of the features? Ask questions and and then we'll get into reading the the basics of the order flow the the concept here is that the free webinar here is For those that are new that and those in the advanced analysis webinar Already have this background So they are more interested in really how to apply bookmap to their trading So we make the distinction between the two Therefore you will need to either be in trial or a current customer okay the Bookmap comm here's the website. Let's go here. Just scroll down. There's an intro video And then about book map. You'll see these sections here a little bit further down There's book map for equities case not just for futures Using the NASDAQ total view from dev experts Connectivity, okay, we're we're a trading platform. We are not a data provider. So you will need One of these data providers here to connect bookmap to the live markets All right and Pricing okay, so here's a 14-day trial period and this is where you can give it a shot So 49 per month for the basic 99 per month for the advance. They are billed quarterly and the only differences between any of these here are just More advanced features. Okay, so for example with the bookmap advanced You get the ability to trade right from the bookmap chart All right, you also Get all of these out on indicators That our proprietary indicators we developed one for example here the large lot tracker is Identifying larger players holding liquidity at specific price price levels So we're not only starting to read the order flow But the the players themselves, okay Who is the one that is providing that liquidity? The iceberg detector is very similar however, this is about Hidden orders hidden liquidity that is getting filled that is transacting. Okay, so Understanding where larger players are placing these iceberg orders and Identifying them Then you can also see there are some imbalance indicators in a correlation tracker. Okay Quants and we've had some some interest in the quant versions lately Hooking up with some quants, which is great You'll have specific needs for your own data Your proprietary indicators, etc. Okay, so let us know and reach out to us and we'll come up with some sort of Solution for you. Okay, we work with several quants All right, here's some of our partners and then you worry to contact us here. Okay? You can follow us on Twitter at bookmap underscore pro get information up to the information Let's see here. We can see an image here going through some details in in bookmap The YouTube page here you can subscribe to our YouTube channel There's intro videos to go through features and components. This is a good place to start and then order flow video snippets These are great videos here. They're very short But they go through the order flow phenomena that we witness during the advanced order flow analysis Okay, during those webinars and these are just snippets of some of that Information that we go over in detail in those webinars. All right Okay, well, let's take a look here at in general what's going on in price A lot of a lot of volatility in oil here. Okay, so maybe we'll we'll jump into crude again and see what's going on there That might be a good one Especially with the correlation tracker, right because we can see the euro dollars going up and crude is going down All right, so stock market indexes, you know, I'm just looking at the bigger picture. See what's moving and where things are going definitely some divergence between the correlation here between the stock market of All of them here They're all kind of doing something unique But the Nasdaq is down. All right, it's up a little bit today, but it's big big sell-off yesterday All right. Anyway, maybe let's let's jump into crude and take a look there on what's going on and let's Open up some of these things and and then we'll go through it a question right off the bat Okay, Edson you bought Ninja Trader Lifetime Open an account Yeah, you can There's you can use that book map through the API in Ninja. All right It would in your using a rhythmic fantastic I would recommend going directly through rhythmic then so power your ninja Through rhythmic as well as your book map through rhythmic. That's one of the benefits of rhythmic. It offers multiple connectivity to you know multiple platforms, okay, you just There's several reasons why it's better to connect book map directly. Okay? And One of them is to bypass the API. Okay, so as I was mentioning here on the website We are a data or we're we are a true platform Okay, just like Ninja or just like TTX Trader Pro or Interactive Brokers Trader Workstation, but we also connect via the API of these three platforms. Okay however It is much better to go directly with a Well much better it is better. It is cleaner. It is More consistent to go directly with the data provider directly in the book map Okay, instead of going through the program And then into book map right so you can see that you know the data has to be crunched by via the program or the Primary platform and then it goes into book map. So, you know, there might be something that is it's it's the Basically, it is the the data is touched. All right, and maybe they do something to it as well All right. Anyway, that's why I would recommend just going directly with rhythmic All right. Okay. Well, let's take a look at crude And let's go through What book map is showing us here? All right because for a lot of you I know that you Are looking at this chart here and probably never seen anything like it before and it looks like it's really complex here It's really not it. This is a very basic and objective view of the market and Like we have an indicator sub panel here showing the cumulative volume Delta. I'm going to close that up and We're just going to show we're just looking at three elements here. Okay, we're looking at historical best bid and offer We're looking at the volume that traded on the historical best bid and offer with these dots And then we're looking at the heat map here, which is if all it is is a recording of the depth of market the dome Okay, so it's showing you that action when we were here for example They were here on the on the offer and they were here on the bid. Okay, and That's what we're showing. It's just it's just the historical recording of the of the dome that that's it all right now that's what allows us tremendous insight to how traders are behaving at these specific areas and that's where We can really start to utilize this tool because it gives us Transparency into the market. We start to understand their behavior. Right, so let's um, we're going to start by looking at a candlestick chart and just Covering all of this different data here and the significance of it and and then how to start to read it All right, so here's our candlestick chart. Okay five minute candlestick chart of crude oil We can see the the kind of you know You know, here's where the market opened and immediately It sold off, but it just went kind of sideways since the cash open at nine right and then just here we can see the Real big drop here. Okay, but there's some buyers in here, too. All right, and we can see that with the wicks Okay, now that that just said that alone reading the wicks here It's a dangerous proposition because Although we can see that yeah, it looks like there's some buyers in here. Well, you know Maybe maybe it's some a lack of selling Maybe we want to we want to understand where the volume took place All of that information is not here. Okay the Where it traded on this candlestick And how much traded and what type? Okay, it was an aggressive buying or selling All of that is again gonna give us a lot of insight. Okay, as well as understanding You can see here with these candles that this is all aggregated with open high low and close of a five minute period We have no clue about all these micro structural areas that occurred within this candlestick Okay, and just understanding alone is going to give us a lot of insight. Okay, and that's where we can look at the historical best bid and offer Okay, the red line is the historical best offer and historical best bid is the green line and we can start to see now there's no aggregation and It's just the we can start to look at micro structural areas Okay, and we can see how price is reacting to those micro structural areas Okay, and that's that alone is a big a big bonus here. Okay so For example, this this area down here, right? Well, what occurred here? We can see the candles We see some of the buying here. Well, this this is just a pullback and a mild pullback In fact, this is where we drop from here in the micro structure okay, and It was a strong strong break to the downside. Well a pullback was about Less than half of the distance back up or maybe about half Okay, and and then it it turned around and it broke again and it broke hard Okay, I can already see a structural area here as well look at the swing low right here and Look how we came down and look at how we we based back and forth just below that that swing We breached it a couple times, but the buying stepped in here Okay, just just now as we're doing this webinar and we can see that right and we're actually above this swing up here, too Okay, so some pretty interesting stuff happening at the moment And we're just looking at the micro structure. Okay, but that's that's an advantage because Even a footprint chart is going to show you the volume Where it traded and how much but it's going to be on a candlestick So you have no clue of the micro structure. This is key Understand that this was breached here and that we have a move to the upside now. Okay, and We can understand You know where wherever Traders are positioned within that micro structure. Okay, and we're going to see that when we turn on the volume dots And here we go. Okay, so no surprise here. We see the aggressive selling. Okay, the red dots are Aggressive market sells green are aggressive market buys All right, and we can see what where the volume traded within this five-minute period Okay, so for example, the majority of it traded down here. We can see it very clearly Within this within this candle. So on this wick There's a tremendous amount of selling down here and there's a little bit of buying that pulled it back up Okay, this is offering that insight. Okay, although we do see the aggressive buyers pull pull price up a little bit The majority traded down here so if you're Looking at your candlestick and thinking well, you know, this might be a reversal You would have it wrong Because you know when we see more volume trading at a lower area, we usually get a Return back to that area and then price discovery in that direction and that's that's exactly what occurred here all right and Anyway, that's where just the volume alone is giving you this kind of insight here Right. Let me zoom into this area because I want to show you just really what book map is recording for you. Okay? and Here's just really simple example. Okay, there's nothing In particular that I want to go over here except that Let me get rid of all of our lines here. So it's just easier to read. Okay Historical best bid is the green line historical best offers the red and then you see these dots Okay, these dots are trades. These are transactions green dot is a market buy someone hit the market buy button They cross the spread they took liquidity off of the best offer okay, they they wanted in and They're the aggressor because They're willing to pay up the spread All right, and they take liquidity instead of weight in line and provide liquidity Okay, and the same here with the the red dots. Those are the aggressive market sells All right, that's it. It's really it's really straightforward. It's really simple You know, we can zoom into these levels and we can show you every single bit, you know of detail This actually is fascinating to see with the s&p Since crude is a lot thinner we're not going to see that many transactions, but Anyway note how You know, I was down at Microsecond level so millions of seconds, but note how as I zoom back out. I compress all of this time together and though all of this trading activity gets compressed And it will turn into a bigger dot Okay, and so we get the understanding here with this pie display It's showing us that there were many transactions here and we can use this data tip tool here And it shows us how many trades took place. Okay? In this big dot here 830 contracts were traded All right, and but we understand that there was a little more selling than buying in this area here We see the tremendous amount of selling all the way down here. Yeah, this is this is what? usually how we break to new levels in trading this is called a sweep of the book okay, this is covered in the educational course that comes along with the With the bookmap trial, okay? it's a it's really important thing to understand because We know that there are sellers here Okay, and they are in control here at this area. They've swept the book They've taken every single level of liquidity in the book and they traded through it Okay, so there's a tremendous amount of selling here and This is where we've we've just dropped out of this other trading range And we're in a new range. Okay, and we're gonna see it again here. We see it all the time again and again Usually we get a pullback to where we broke from and indeed we did here as you can see Okay, and we actually had a little bit that went up a little bit higher here as well Okay, and let's zoom out a little bit, but that's as far as it went right right to this level here okay, and And then you can see that there's not too many buyers here not like before And the sellers come in again here, and here's another sweep of the book Okay, and now we're down below this swing level and we've returned back to it here as you can see And then we see some sideways action here All right. Anyway That's an important concept to understand sweeping of the book and it's very clearly illustrated here in book map and then We start to understand the order flow in reaction with to that sweep of the book It's and don't know exactly what you mean by a direct negotiations maybe you can Define that a little bit for me, and I can answer that the okay, so let me continue on and What we're covering here so far has just been volume and historical best bid and offer in micro structure Okay, but really the two elements are Historical best bid and offer and volume There's a whole nother side to the market Where are they bidding and offering? Okay? Usually what we look to the current market to understand that Okay, and we zoom in and and we look at the column here. This is the dome. Okay the a depth of market Here's our best bid and offer right here And here's our depth on the offer and our depth on the bid These are traders lined up at these areas wanting to buy it down here at these levels And they're wanting to sell up at these levels. This is what makes the market people that are bidding and offering Okay, it is an auction and We use that Analogy here to explain a lot of the phenomena that occurs here in book map because it truly holds up It and it's it's really what we're looking at is here in an auction And book map displays this it's just displaying the data. It's just visualizing the data, but we can start to fit it into a Model like auction market theory. Okay, and and understand it really well all right, so This is our depth of market and you can see here The depth of market these numbers and this liquidity is always changing people are always adding and pulling liquidity You can see you can watch how these numbers change Okay problem with it. This is a great view because we can see where traders are lined up to trade Problem with the dome though is when these numbers change all of that data is lost Okay, we don't know what happened there before and this is where book map Can be really helpful. Okay, because it will Record the auction and then transpose it onto the chart historically. Okay, so this window here is The same as this column over here. The only difference is that this is a graphical representation of the market Okay, of the depth of market here. Okay, so really bright areas up here like at 5750 139 contracts Is bright white? Okay, 153 down here at 5718 is is bright white Okay, these shades of gray There's high liquidity, but it's less than some of these other areas So we know exactly where the market is being made and where larger players or Larger areas of liquidity are in this window where this gets Really interesting and insightful is we take this data and then transpose it onto the chart historically Okay, so this auction that we just saw in this sweep of the book. Okay going through that concept again They just swept the book above This area here now. We need to see if we accept or reject above this area Okay, and see if buyers come in right here at 5740 to press it up Maybe into 5750 the half figure up here. All right, we'll be looking for that and The but note note these little striations up here in these areas This is the adding and pulling of liquidity. These that's these numbers changing here. Okay, so over here If we hover over this area, we get the date the time and then what was on the ask here 69 contracts Then it got brighter. Okay, so it went from 69 contracts to 83 and then it got brighter again It went up to 97 contracts and brighter yet. Okay 111 contracts and then they started to pull liquidity as well Now we're starting to understand the auction and we're starting to understand the intent of these traders at these levels Do they want to trade or not? Do they in this auction as price approaches them? You know, are they willing to sell now or not or do they pull? Okay, this guy just pulled Note how are they just pulled right when price was coming up here? All right So that's how we can start to understand the intent of these traders here and we can gauge the intent way back here I mean we can see that they're adding and pulling and and and not really showing a lot of intent To trade. Okay, so this was kind of suspect just from the from the beginning by understanding this behavior here Okay, tremendous insights from from reading this and starting to understand the auction Okay, now when we start to combine that with the the transactions and structure We are looking at the full Continuous like a piece here of of the order flow in the market Right, so historical best bid and offer which gives us that micro structure Okay, the transactions that take place there gives us the Understanding where traders are positioning themselves Okay, and then where they're willing to to buy and sell gives us the the auction here All right, and understanding of that auction. Okay, so for example Our little move that we just noted here Okay, the sweep of the book the aggressive vine took place here Okay, we always look for this like a pullback right to where it initiated from All right, and and then look at how they they got very aggressive here on the on the bid Okay, they want to be buyers Clamoring here. I want to buy with Over over a hundred contracts here in this area Right. I'm looking down here in the bottom left And it gives me the same as the data tip tools as the date the time and then on the bid 111 contracts right and So all of a sudden a lot of buyers show up at this level well, we rotate higher And and try to find these guys and they pulled right So we we were looking for 5750 to get tested. Okay, we haven't gotten there yet, but And we're starting to see some sellers come in here in this area here note the little cluster of selling Okay, so we're just kind of going sideways at the moment But note the little sweep up above here as well okay, look at the The buying that took place and we came up to and made a new higher high here All right, this isn't very significant, but we do see that action. This is fact all right, so We'll see maybe this isn't much of a breakout. So maybe the buying pressure is starting to wane right But it still looks like this 5750 is on the table as a target here But we'll see if the buyers stepped it up here. All right Edson get back to your question about direct negotiations Well, this this is data Coming directly from the data provider that should be right from the CME Okay, however, they get their data from the data provider Okay, so That's what's being displayed here in book map All right so That's where you know some traders get very specific about their types of data that they're interested in and It's really it's really up to you Which data provider you? Prefer, etc. All right Okay, well note again this guy here pulled again at at 47 5747 Okay Okay, so the target is still up here at 5750. We just need a little more buying pressure to step in here And and we'll come right up to it Okay, I'm looking for those aggressive buyers all right, well that that let's call it a day here and For those of you in trial We will jump to the next webinar and we'll see you there. Okay. All right. Thanks guys. Bye. Bye