 Good morning traders. This is Bruce at the locks pro if you can hear me and see my screen. Can you just type yes in the questions? And we'll get started Okay, yeah, thanks guys. Okay, excellent Let's get going. Okay, so we're gonna look at the live markets and go through the order flow in book map Risk disclaimer a trading futures and options on futures involves substantial risk of loss is not suitable for all investors Past performance is not indicative of future results For more information go to book map comm if you want to learn about the product Become a member there and you have access to a lot of the free resources A lot of those resources are in the handouts folder that you'll find right there in the go-to webinar software, so if you open that up and you take a look you'll see that there is a user guide for 5.0 the book map 5.0 beta and You also see the book map hft intro guide and How do you recommend taking a look at that and understanding how these markets trade today? If you are unfamiliar with the hft environment And then I also include now the CME rule 575 PDF because a lot of the things there. I mean, this is a current and topical A lot of the order flow that we're going to see I relate very much to that document and we can see What exactly what they're talking about in that document and a lot of that is now considered? Well, they're trying to figure it out in some cases, but a lot of it is illegal behavior and Not going to say that what you're going to see like in some of the spoofing type of action or flipping of the book type of action If it's illegal or not, but I do want to show that phenomena because book map can very easily show that and display that and Doesn't have to be on the millisecond level We'll see it in a five-minute chart and we'll see it in a 30-minute chart or an hour chart We see it all the time. Okay, so anyway If you have any questions you can reach out to us at support at the locks pro comm and if you want to give book map a try you can go here to the Pricing tab and you can see that there's a 30% discount on book map Three days left. So take a look at that if you're interested. There is a 14-day trial period here Okay, so you can you can try it out and see if you like it And and then after the trial, there's two versions here. You have the basic and the advanced Okay, so 49 per month for the basic 99 per month for the advanced. It is billed quarterly And the distinction between the two Primarily is this one-click trading being able to trade from the book map chart. Okay, we also have a Lot of other add-ons here as well and We'll go through many of them throughout the week in the in the webinar series Quants and prop shops can contact us here if you have some sort of a special need or custom solution, so let us know and Let's see the A lot of the free resources I spoke about they'll be under the members area here Okay, you'll need to sign up You can register for future webinars here. I believe right now. We just have if you click on that link There's just one and that is the current one that you're in All right And then under this education tab, this is where you'll find all the recorded webinars so click on that link and up pops a Bunch of the recorded webinars starting with the the last one that we had Okay, so yesterday was a holiday so the previous webinar was on Friday and we this was for this was from Daniel Scalock and This was during the professional trader webinar series We had a trader each day last week present and I'll give you the playlist I'll put it into the chat box there for you. Okay, so In fact, let me go there now Okay, and you can see all the different webinars that we had here And you'll be able to access them in the playlist. They are all here as well But from the drop-down up above here in the playlist, right? So you can see here. We have Daniels on Friday and then Thursday. We had Jason Love on Tuesday we had for on font-remental I'm sorry Wednesday on Tuesday. We had FT 71 and On Monday, we had the Met Day. All right Okay also Would encourage you to watch as many of these video snippets as you can this goes through the Order flow phenomena that we can see in book map in a very concise way Just a couple minutes each video, but if you can digest that information, you're going to see it again and again in the book map chart Okay So learning the order flow in book map, right? We I'm going to start off with a quick review here since there are a lot of new traders in this room We're going to go through this quickly though. I'm not going to delve into a deeper analysis of this But unless you guys have questions, then I'd be happy to right. I mean this this webinar is for you, okay? So any questions that you have, please let me know And we're gonna what basically though we're going to look at some of the higher levels of interest On higher time frames our levels of interest, right? And and then we're going to look at the what the book looks like Understand that microstructure and we're going to put the two together Okay, this is what everyone did last week all of the traders professional traders that we We had present last week. They're all looking at their higher levels Okay, now you can scalp using book map and very very effectively Okay, but you can see that the majority of the traders They are looking at higher time frames and then looking to the microstructure and the order flow in book map Okay, that allows them to pinpoint their entries and exits in the trade management and we saw all of the traders do that and We'll take a look at our Our higher levels here, but let me just go through and review what you're looking at first in book map, okay? And I'm going to take off all of the Information here or data, okay, and We're gonna just start with this very simple view here And we have an indicator panel down here as well, but we're gonna even hide that Okay, so what are we looking at here? Okay, we have three different sections. Okay? This section here is this the historical best bid and offer. That's it Okay So and you can see here. I have quite quite a bit of data here This is the 930 open here in the S&P E-mini and it's currently 11 almost 1110 All right, so a lot of data here and it's just the historical best bid and offer going back and forth Okay, and then you can see in this window here this Very elongated window We have the best bid and offer at the moment. Hey, this is the current best bid and offer this number here is The last traded volume on the best bid or offer Okay, and then you can see the price ladder here and then We have many different columns here to look at we're just going to focus on the COB Which is the current order book column and that's it. Okay? Unless you guys have questions about some of these data columns over here volume trade columns quotes columns, whatever But you can see we actually have two COB columns here This is your dome in book map. Okay, let me zoom in a little bit and we can make this a little bit bigger and What this is showing here is here. You have your best bid and offer right here with these two boxes And then you have your depth on the offer up to this white line And then you have your depth on the bid down to this white line here. Okay, that's it All right And the the CO the other COB column I have here is just a graphical representation of these numeric values in the dome Okay All right, okay, so that's all we're looking at here in book map Pretty pretty straightforward pretty stripped down. All right now Let me add on the volume dots Okay, now what we're looking at here Is the traded volume that took place on the best bid or offer? Okay, a historical view. Okay, so you can see exactly where the where the transaction took place What type of trade was it? and how much traded and and the overall Delta the Buyers versus the sellers and you can see that very clearly here I mean so many trades took place here, but we can see that the overall Delta here There's quite a few more sellers than there are buyers all right But we don't aggregate our data. Okay, this is all it's just a Convenient view When we take a look here and we can see the the overall With this current view. Okay. Now if I click on this hand tool hover over this area and use my center mouse We'll just scroll in you're gonna see how we just Visually aggregate that but there's a lot more trading activity that really occurred here Okay, and we can show you the details here All right, look I mean look at them hit the bid here very very aggressively All right, we're gonna zoom in further and now you can understand Okay, we're looking at just millisecond level here now. We can continue on and we can look at Microsecond level and even nanosecond levels here, right? But I'm just gonna zoom out and we're showing you it's not aggregated data. Okay, it's You can see everything that took place here every single of a discrete market event All right But you can see we visually aggregate that when we zoom out so it gives you the overall Understanding of what occurred in this area All right Okay, so very much like a footprint chart here. What we're looking at is a graphical representation of The traded volume not the numeric. Okay that you would see in a footprint chart Okay So so now now we've just added on the traded volume now. We're gonna add on the heat map Okay, so what I'm looking at now is a grayscale heat map. Okay, what this represents here is the Liquidity in the market. So let me explain. Okay, so I'm gonna zoom in here And we're gonna we're gonna go back to our COB column here Okay, our depth here on the on the bid and our depth on the ask right these numeric values here We're painting it in this live market window here. Okay with the best bid and offer in the last traded volume Okay, we're painting it a grayscale. So this 1721 here is reflected with this brightness in the grayscale. Okay, you can see here that 1572 is it's a little darker all right, so Therefore, you know the numeric value is less the grayscale is less that this you know the market is being made all day long and liquidity levels change dramatically all day long. Okay, but we we record this data and You'll see the grayscale change here And then it's reflected though in on the historical chart. Okay, so as I zoom in we just saw this number change quite a quite a bit here and and this is what it looks like. Okay, it got brighter and Then it got darker. Okay, that is the adding and pulling of liquidity All right, and that's all this is. Okay, so this grayscale Now where it gets interesting is I zoom out and now I can understand the The depth of market historically Okay, I can see where they're bidding and where they're offering. Okay, where they were before are they still interested? How the market behaves when a price approaches them? Do they still want to line up and buy at these levels or sell at these levels? Okay All right, so that's the review and Let me know if you have any questions happy to go through it the the grayscale is You're able to change it. This is not a set-and-for-get Type of tool you will need to change your some of your cutoff White and black cut off here Because the liquidity always changes the picture is always different All right, so all of a sudden you might see two or three thousand contracts come into an area All right, it's going to blow out the heat map in reference because it's going to be 2,000 contracts compared to you know 15 or 1400 right, so You can adjust for that. All right, and it doesn't take much It's a little tweak here and there with some of these settings And and you'll get a feel for what it is that you like and in your view And it just takes a second and then you're back. All right, so That's the the heat map and Let's see here All right a couple questions and we have a Yeah, a question Gunther on the cumulative volume Delta here and HFT calculator So I'm not I don't have any details on the HFT calculator So not not sure where to tell you there But the cumulative volume Delta is available for Both basic and advanced Versions of book map you'll get it. Okay, and you'll find it under this tool up here Okay, the AP API add-ons configuration So you can see that we now have This indicator panel and this indicator what we're doing is where we're showcasing our new API to you Okay, so you have the capability to write your own indicators within book map Okay The benefit is you're going to be able to see your custom indicator within the heat map here and have the context of The the auction process as well as that traded volume all right Okay, so I Think that answers your question come through. Let's see here. How do I get in two columns? Okay? So Adding more columns here. You can add as many as you like. So you just right-click in a column Okay, and click insert a new column or you can hide it Okay, let's insert one and to the right pops a new column That is a duplicate from where I came from and then right-click again And you can see the different types of data I have available here Okay, so I have the current order book. I have a volume profile I have a trades counter profile a quotes counter profile and a quotes delta as well as custom notes and in cloud notes here all right Okay, and you can format those columns so click on format and you'll have the the different options here to you know Split out your data and verse the split bars bars in numbers numbers only extended not extended You know just show the bid or just show the ask, you know and in the justification of it, too So you want to justify it to the right left whatever? Okay And let me hide that one Okay Let's see Carl, you're not able to get CVD 13 Okay, I'll go over that in just a minute Yeah, that's the same question Luigi has okay I have no idea. I think you should you're talking about futures trader 71 and his settings For the CVD and different markets. You probably have to reach out to him. Okay I'm really not sure exactly what his settings are for those different markets. All right Okay Let's see here Okay, so Now let's take a look at our higher time frames here and just start to map out Some areas of interest and what the order flow is going to look like in some of those areas of interest Okay, so you can see a strong day-to-day on a 30-minute chart and Let's Zoom out a little bit. All right. I mean you can see very strong uptrend for several days And we could put a trend line in there. We should And you can see how nicely it's holding even the the aggressive trend line here All right And they're still buying right so Let's take a look at a five-minute chart and what kind of insight can we get here? Okay, what is the order flow going to look like in some of my specific areas of interest? Okay, I can put in the small trend line just for today And a couple horizontal lines in this area Also, I'm very curious in this area here. You can see the pause and then the extension Okay, so this is where they started to buy yet again at 59 and Yep, we can also put something up here around the highs and volume profile. We're gonna see more This is gonna be a nice edge as we can see here So I'm also interested in maybe a retracement to this area right here So 63 the the highs And 59 and then all the way back down to where it opened or Around there 54 Okay, so let's let's we can put in some some lines here with the new pen tool In in book map and let's put in some some vertical lines or I'm sorry some horizontal lines here All right, so we're looking at our 64 area Okay, 64 and a half Let's put in another one and We were looking at 59 Now what is it 59 and a quarter? Okay? down here Okay, and and what else 54 and a half or so Okay There we go. So I'm yeah, let's take a look and see what the order full looks like at some of those areas and We're gonna we're gonna look at the order flow and we're gonna analyze some of these areas in a very specific way all right and Let me make the indicator panel a little smaller and let's zoom here. Okay, so for understanding the order flow What is it that I? Want to look at here. Okay. I want to look at the current configuration of the book All right, we're showing up to the market here. It's an auction And now we can really understand this this auction process in book map because we're looking at it not only in real time But historically All right, so what it what is the current configuration? Where were they lining up before and where are they now? Lining up to to to deal And then the second question is how does the book behave when price approaches these areas? And then overall What is the tape the traded volume telling us where do the transactions actually take place? okay Okay coming down in our 59 area. All right and Just hitting it now Okay, and let's take a look at the the book. All right looking pretty dark here Well, let me let me adjust it then. All right, let's bring up the white cutoff. I bring it down okay, and I'm not seeing much at all And now they're starting to get interested. Okay a little bit below All right. Okay, so current configuration. What do I mean by that? Okay? Where are the buyers and sellers lining up? Okay, the majority of them currently? Right now at the moment. We're looking at this 57 and a half. That's where they want to buy. Okay after this drop And they're now here at 59 on the opposite side They broke through our level and they're on the other side selling now Okay, so a very very tight range at the moment After this breakdown and you can see We can see here How the market behaved as price came down into these areas So current configuration very simple to answer that question all right Look for that that high liquidity on the bid and the offer and The second question is how does the market behave though when price approaches these areas? So these sellers are they really that interested in selling up at 59? Okay, and we can see that they're not they're pulling that liquidity here. That's giving us insight Okay, how about these guys down here that want to buy? Okay? How are they behaving? Well, they're getting pretty aggressive right there they're starting to Want to buy at higher levels? Okay? You can see them step it up here Okay, so what now we're starting to understand the auction going back and forth All right, how about these guys it when we broke through this area down here? Okay? Well, we can answer that question to these guys stayed in the book we can see the transactions that took place and the liquidity that was provided here and You know some of it was pulled for sure, but look at the look at the dots. Okay, and the aggressive selling here All right, so these traders they wanted to be buyers and they and they got what they wanted All right, they We get my arrow back They they were buyers at these levels and and sellers took them on and completed that transaction here and here All right. Okay. Now. Let's get into that third question Okay What is the tape telling us the traded volume? Okay? And what kind of clues does this give us here to what's going on? Okay? Well, we can see a lot of selling came in. All right We're now we're starting to see though some some buying interest pop back in Especially lifting the offer in this little area here All right at this 58 and three quarters Okay But sellers are still there they're still just hitting the bid here, you know hitting the bid through All right Okay, so so in terms of reading the tape It's up to you But we're looking at where these transactions are taking place and that's kind of the the key here and And what type of transactions are taking place? You know the we're using aggressor classification of this traded volume, which just means if it's a A market sell it's going to be a red dot if it's a market buy it's going to be a green dot Okay, and it's aggressive because they wanted it and they cross the spread to pay for it whereas these other traders in the And the limit order book are they're waiting at their levels to deal they want a specific price All right, they don't have to they can wait for it. They don't they don't want to get in right away All right. So anyway Let's see here Let's see what is our this go through our three questions again, right? So we saw them starting to pull but then they they Jump back in here with high liquidity at 59 and then they actually pulled in this area here As you can see Okay, so our aggressive buyers they they got cold feet right in this area here Okay, and they're still getting cold feet notice this area here now at 57 and a half Okay, but now they're lying up here at 57 Okay, now our other area of interest was down here at 54 and a half Okay, we're starting to see some buyers come in here down at at 55 and a half All right Okay, majority of it though looking at the tape. We're still seeing more selling than buying Okay, at the moment Okay, just to look at the the red dots here taking place and More trading taking place at lower lows. I'm looking for continuation to can you know to for price discovery to the to the downside here okay That's usually how the tape operates In giving us insight Okay in a trending market. You will especially see that Okay, more volume trading at lower lows and then at these lower highs You'll see points of exhaustion take place here Look at the look at the aggressive buying up in this area here. Just all these little just little dots All right, they're not too interested in buying Okay, instead look at the sellers here. Look at look at where these transactions are taking place Okay, so I'm looking for further continuation to the downside and And and we got that we got that follow through okay and Yeah, they're starting to get interested here again. We saw them starting to pop in at 50 57 Okay, and also this 55 and a half all right, let's see questions about the CVD and the Automated strategies as well okay the Let's just we'll click on this and Go over a few of these things okay, so you can see here that the the API and add-ons configuration You can add all sorts of new indicators Within this window here your your custom indicators you can have them written you can write them yourselves it's Java based and And we're showcasing a few examples for you Okay, we have the cumulative volume Delta We have some automated trading strategies. We have the chase escape and execute all right and Let's just go through the cumulative volume Delta right and what are we what are we showing here? Okay, so I'll click on this okay, so if you're Familiar with the cumulative volume Delta, you know what it is. It's just adding the Aggressor classification of that volume if it's a market sell Is it's going to be a negative one if it's one one contract? All right, if all of a sudden then you have a market buy for one contract It will balance out in your cumulative volume Delta will be zero okay And and that just it just accumulates all day long All right, and and you can see the selling here that took has taken place Okay, so that's that's actually matching pretty nicely with our volume dots as we can see here Okay, more and more selling lower lows on the cumulative volume Delta here all right and There's all sorts of different settings that you can Place here within your cumulative volume Delta. Okay, we're going to go through just the the basic setting here and Just showing the the overall since I opened up my book map Okay You have the options for to reset it You can reset it now you can add or reset Whenever you like as well and it will go back to zero at that point Okay, what that allows you to do is study specific areas Okay, so if you're looking for a zone And you want to know what that volume Delta is in that zone All right And you can see here we have actually two lines We have the blue and this green line here So the blue line is this CBD that is 13 lots, so let me click on this one And you can see we have a filter on it here. Okay, the minimum accountable volume size We have it set for a 13 Okay, and this is I believe what FT 71 is is currently using with the S&P E-mini And you also have a filter for the maximum as well. So with the minimum volume size It's showing the minimum volume of 13 if a 13 or or more contracts traded then This will make the computation and you can see the computation here in the little widget window Okay, you can see the CBD for the 13 lot is negative 3200 and the regular CBD is 6500 all right, so You can see the difference here now why why Why go through this difference? Okay, what is it was it showing me it's showing me what the behavior is with the larger traders? Larger traders are going to be using larger size with their with their contract size and so We're making a distinction. So we're getting insight to how they are behaving in the aggressive volume All right, and we're comparing and contrasting that to everything else Okay, so this would include all of your smaller traders as well all right and We can see that actually they're not you know, they're starting to perhaps You know accumulate Position here. See notice how we had the crossover here. Okay. They were aggressive here And then it's at this point right here All right, we can see it. This is where we have a flip In our two lines. Okay, so now We have them starting to you know, they're not they're not hitting the bid as as much as the The smaller traders. Okay, we're the smaller lot size Okay, so it's up to you How you want to integrate that if you're looking for a specific level? and And then you're looking for maybe absorption in your cumulative volume Delta. Okay with limit orders Then you're going to look for a divergence in that price Or in the in the output here in the in the volume Delta Yeah question here on the smaller circles and what I'm what I'm showing here. Okay, so click on the the sprocket here and and you'll see the different Icons that you can show or hide the indicator. Okay, so the a bar chart Icon here it will display in the indicator panel here. Okay, the The volume Delta for that study. Okay, or This one here is for the widget panel here. So if I click on that and then you can see that I don't have it any longer All right. You also have the Ability here to look at circles or you can look at lines as well or bars Okay, and if you want to Change some of the settings you can click on that and you're back to this window here That is the same as clicking on this button up the API button up here, and then your volume Delta Okay All right. Well, we've got our continuation to the downside. Okay from reading our tape Okay, and the Let's see what is that auction telling us here. Well, we can see them get really aggressive in this area here And then we can see the the lack of the buying up in this area This was their chance for the bowls to take this higher and they really just didn't Put anything into it at all you can see the lack of buying at this 58 and three-quarters here. Okay, so bookmaps showing you that pretty pretty nicely pretty clearly Okay, so reading our tape and we can see the Price discovery to the downside here All right now. We're starting to get you know down to our level of interest around our 54 area We're still we still got a few points to go But we can see that some buying is starting to come in we look at 56 here Okay, they're starting to get interested All right 55 has been in here for a while now they're they started to pull and they're now they're back in okay at 55 Okay, but look at again. This is this is this is what's called a flip of the book Okay Looking for they were on the On the bid but now they're aggressively on the offer. Okay So they want to be sellers here aggressively in these areas Okay, then the swing was up here. All right, but they're down here okay, so And now we're now let's read that behavior now We're starting to approach this area here and let me as I zoom in we'll need to adjust our map a little bit Okay, yeah, pretty high liquidity here. Okay a few levels of it as well. Okay, and they're staying they're staying in the book 56 is staying though here as well. They did pull right in this little area, but they're right back in now Okay, look at the aggressive behavior here at 57 jumping in and now these guys are starting to pull Okay, now we have the opportunity to come up here and test this 59 area Okay, let's see the aggressive buying take place We can maybe we can get a push up into this At least 58 and a half, huh? the Christopher the these are the book and volume and balances here these are Add on indicators And it's showing the the overall book here from this current view. You'll note that if I zoom in we'll get it We'll get a different reading Because it's making different calculation, but it we're looking at the Bids versus the offers. Okay, and then we get a skew in it Okay volume is the same thing. It's just for this current view, but you can see that We have more selling than we do buying all right And when we're in a you know in a downtrend at the moment, so that's really no no surprise Okay All right guys, well, I didn't get a chance to to get to the automated strategies. We'll do that tomorrow but we did go through the cumulative volume Delta and started to look at the different settings and relate it to the the price action that we're viewing here. Okay, so Let's let's wrap it up I'll show you where you can find those recorded webinars. Okay, they are here under in the members area Here under this education tab click on the link here And then click on the playlist for others up in the upper left hand corner Okay, this webinar will be up there in about an hour hour and a half or so and If you want to give bookmap a try this is new new data here new information a 30 30% discount so Yep, you can Receive that if you purchase in the next three days All right. Thanks guys. Thanks for coming. We'll catch up with you tomorrow