 Good morning traders. Can you hear me and see my screen? If you could just type yes in the questions there Just want to verify that everything's going. Okay. All right, great. So thank you. The webinar will be recorded here so No worries about that and let's just jump right in here today. We have Jay trader This is part one of the professional webinar series for the entire week here November 5th through November 9th and Dray J traders been been trading here since 18 years old. Okay, so like over 20 years now He started in high school and studying very late at night trading the US or European equities as well as warrants or options Training a tremendous volume here 30 to 40 million in euros and that's each month 400 million per year and and mainly looking at the the level 2 in the time and sales and Prolific trader here 30 to 50 trades per day. Okay focuses on the scalping on the level 2 and Mentioned here. Yeah, he wishes he had bookmark back then. So We'll just jump right in here. He's looking mainly at equities and options Need to go over the risk disclaimer here trading futures equities and digital currencies involves substantial risk of loss And is not suitable for all investors past performance is not necessarily indicative of future results You can see our contact here for more information regarding book map and some of Jay traders Twitter handle here for example, you can see At Jay trader co or his YouTube channel Jay trader Jay that you can search for Or you can reach out to him here at Joseph Gasparino at gmail.com And then this is the link if you're interested in purchasing book map This is the link that you'll use from Jay trader. Okay, now I'll put all of these into the chat So there's no worry about that, but let's just jump in and I'll hand it right over to Jay trader morning guys it's an honor to be here and I Want to take book map for Having me as a guest an introducer of The webinar series that we are going to have just one second I will like fix my Monitor and everything start just one second. Okay Bruce you don't see my monitor right here, right? No, I'm looking at your paint program. Yeah I know because I put that before let me see how to put it back Sorry guys for this. I'm not a Techie. Okay, we're gonna Now should be fine. Let's see Okay so Good morning again, everybody I will talk today about the way I use book map so I'm gonna start right away with examples And then I also talk even about the live trading we have today Why book map is a good tool? It's not a stool that you can trade only using this Okay, but is a true that tool that really can help you to add conviction to your trades for the fact that If we start looking today, we have their AYTU, okay, so how this it works. So this is basically pre-market on a YTU and This is the open So right away what right away here you see this pre-market high as We see here on a three-minute Time frame and we know that on this area here. There are a lot of sellers We know that some iceberg orders so hidden sellers that are not Present on the book they jumped in Whenever you will see these numbers over here and We know that also if you look at an institutionals They tend to hide their orders, right? So it will mean that every time you see the big orders over here It won't be probably a small retail trader that wants to hide a size, but a big guy So today, we also knew that what was the news license agreement If you're part of my small cap room, you know how these tend to go and end and We had also from my filings warrants at the 150 and 138 still there to exercise so today a YTU Really got the perfect opportunity because we had if you see here if you see down here on a YTU this failed push over here and That moment the tape was telling us that Seller step in because we had the huge resistance in the 160s and what happened in that moment So let's look together You have to do like this to see what exactly we had in that moment so you can even review the past And you could see Perfect example of stuff Okay, so this is a stuff right away here in the 159 160 and you see here basically what was the ask so the Supply that we had and here the demand and here you can see here the shift because you see this big Round dot over here that is soak means somebody there on the cell. Okay, so somebody was collecting this big volume of 40,000 buyers, okay 40,000 shares buyer and he was loading his boat to get short over here So if you put together the tape book map and The chart together, you know that this here here could be a good spot to short just risk in the pre-market high And this is a pattern I I play pretty often and You see all these heat map over here. These are called heat map. These are basically levels Where you will find the majority of concentration of volume. So in this case, these are the bid that are positioned over here Then we saw this dilution all day and We saw dilution. So this goes away Let's zoom it out a little bit out and you can see the big orders 58,000 here on average 46 and so on these are the big Institutional play that they tend to push all the way down each bounce is sold So whenever you will see another stock like I don't know and BRV Some weeks ago or a CHV at the open they made the same pattern failed push and right away each time that these were trying to bounce you had a big seller coming in and Again here a big soak a big soak. So soak it doesn't mean That each time this was trying to push somebody like soaked all the shears like absorbed All the shears and then continue to dump continue to dump So this is basically what was a why to you yet today. I want to show something else for Today, this was my home run trade Traded live in the small cap room with the guys so basically We have ACRX this was a Second day because Friday we see this big move close to the eyes and this morning here. I was particularly Afraid to open it because there were like some big traders on Twitter Thinking that or hoping that this would have a second day or third day So I didn't step into pre-market. Let's look how was because there's something very important I need to show you about this So if you look this in pre-market Okay, we started seeing this stopping at five in that moment if you saw the tape So in this case, I mean the level two and the times in sales. We had five five zero five seller and We had a supporter for 90 each time it popped the five we had a support for 90 So it could have been also that somebody was showing you see this five zero four two hundred fifty thousand shears So means that somebody was showing this big offer and Generally like the institution like to do this or market maker to trap the shorts So like they they try to scare them scare the long story. Sorry, but it sells shorts get in Because they have all this will go probably down for this big imbalance here that after will explain what is and And basically today we realized that At the open We had the real trig over here So when at the open I saw and first of all open we saw this 25,000 iceberg order and I saw this big stuff over here. This guy's was a 500,000 Soak over here in the 489 exactly here When I saw this I'm not like the perfect sculptor because of tend to be a little bit slower Started shorting the 480 and adding 477 475 and flushed all the way down This was the I call in the neckline your guideline that you had to do with that to look for it for 66 So why it's important because if you saw the tape it would tell you that We had a lot of red prints in the 89 88 87 86 and This gives you the confirmation this big ground circle over here You see how it's much bigger than all the other ones This is called a soak and it was together with the stuff Then you have the possibility to go push to the high of the pre-market That it flushed right away down the V-wap the prior relative low, which is always to take into consideration in these situations and their start to come all the way down and how this Moved Okay, here you can see better City is all big eat map. These were all the support that tried to resist And she bounce bounce, but then they came off came off and sellers and that Support became resistance over here and continue to bounce and that support became resistance over here Continue to bounce and dump and so on so on so on. So these are the best plays the best plays that you start seeing this Selling selling selling it could never break the prior relative high So this is about a CRX today, and now I will show you some examples from the prior weeks in order to see some setup that it may occur in your trading and It could be possibly useful so This is something I saved out of day This is a CRX the first day. Okay, so today we talk before a CRX the second day and this was Sorry, okay a CRX. Yeah Bounce play into the whole round dollar number. So what happens over here here? We're talking about a key factor Using book map, which is called volume imbalance So basically we have the same setup over here We have a pre-market high as we add on a yt you today and we have the open over here We basically push into this area over here neckline I will call it five full round dollar number and what happens in that moment in that moment over here You see this big heat map. Okay, and this big heat map means a big seller is there And you see this wick above the five. That's your fake breakout over here But at the same time this fake breakout and you see this big stuff this big round Dot that's your soak. That's your stuff and That is an imbalance So imbalance means Imbalance between supply and demand, you know that supply is Who is basically ready to sell and demand who is basically Going to to buy So if you take five like reference and you calculate in this case 25 cents, you see 53,000 Sorry a huge amount of sellers Comparing to a very low amount of buyers and This gives you the idea that is very possible To start unloading and to have a shift a shift may basically means a selling Because we have huge imbalance huge orders of the sellers Higher bigger comparing to the buyers So this is a bounce play a look again This is another bounce play. This was on IGC some some weeks ago So we have this pre-market high flush over here and what happens on this bounce? So this bounce right here We had a soak. We see this big dot over here And we couldn't pass this one So when you see this forming here, I generally like to to see 10 15 minutes 10 15 seconds Candles all into each other like each one absorbing the other one this is called the soak and Generally, if we still have a settles over here, you will see a flush and Another example of this bounce. This was VTVT even this like some weeks ago So what happened over here? We had the huge Coming down huge selling and the second day what happened? Same thing was on IGC flushed pushed over here and You have to see where we pushed We pushed into the Syria again with a big heat map You see this 290 with a big imbalance over here because this is called cumulative volume So means that all this volume here are basically Cumulative into this number over here. So we have from 257 till 3 58,000 shares on the cell Okay, and 257 to the 225 we have 64. So right now is Perfectly, I would say One-to-one imbalance but over here we had the bigger imbalance of like three to one or four to one And when you see this heat map, that's a low risk area to short and We are looking at ACRX so this is another bounce. So here we are basically at 1048. So look how this behave 1048 Okay So you see guys that we came over here Almost to support. Okay prior support now resistance around 460 so in that moment We had this pushing up and we still don't know that this will push up or more Okay, we only see here a big seller at the 471 So in about 12 cents, we have 35,000 in the cell and 459 if you calculate 12 cents So 447 we have almost nobody What happened over here? We started seeing right now The seller becoming bigger at 459 So basically you can take your short in this area for 48 for 50 just risking that seller over there And then started to come all the way down. So when you have Technical analysis because that's my number one when you have the tape confirming The seat map can give you a really big Help in Determine where you can enter having a low-risk set stop and Basically where to trail? Okay, when you see this big soaks over here in the bed This is your trail and then you have this bounce So we have some question brews or I should just go on Yeah, a few questions here So just confirming here on By by Kurt about the green the big green dot and price not going anywhere. That's what you are referring to as the soak Exactly, exactly. Okay. Okay, great And let's see here There was another question Just a moment a lot of issues here about some of the Monitors, but I'll answer everyone in just a second here. Yeah, that's pretty much It's now reading. Oh, so do you Use the time and sales Wild tape reading or just the order book. I use times in sales I use for sure level two and I use Book map all together Okay fantastic Okay, and Just just a note here. Yes, this will be recorded and the For the zoom levels here We needed to look at one monitor here. This is one monitor So at the top of your go-to webinar, you'll see some zoom options What's working for me is I'm zoomed at 75% And then you can left-click hold and drag in the window to move the You know Monitor around to see specific areas where Jay trader is is talking about and pointing to Okay, guys. So right now. We saw the basic use of book map how it can help you or at least give you a Suggestion, okay on where to Had your size or like use your stop and we look at the bounce play now. Let's look at an extension play so This was CLDC think everybody remembers the day think was like what one month ago. Yeah, the 8th of October That started pushing don't remember if this was floor rotation. I mean it seems like and Many people were like stuck because this was like grinding for The first two three minutes everybody wanted to short But the fact is that sometimes when you short these pushes You can really hurt yourself. So always what's out? Short in the front side of the move. I always prefer to short the back side And if you look here just a one-minute chart, you have basically No kind of entry point. I mean if you're on daily, you see a big resistance to 80 Okay, otherwise here you don't have like any kind of patterns. The only first patterns you start seeing is like this fish first dump Bouncing the V-wap and lower high. So the only possible trader here would be this lower high When you're looking at the tape and I love to trade based on the tape so times and sales and level two Using also book map that gives you and a better idea of what's happening inside this area here Let's look together This big two or three candles are these we set high low high low and we set here trend of higher highs and higher lows So basically, this is a front side. You don't have to short below this area. You cannot short this What you can do is trace your trend line. You can trace trend line with book map and you can start seeing here the forming of a lower high but not yet a lower low so this will be your lower low, okay and What happens next? At this 266 We have this stuff over here into the heat map and this is you're basically a relative Lower high comparing to this and to this so this 266 which will be this here here exactly here It's your short Using your risk this to send V8 to 80. So you start shorting over here, which is here Because you see trend break Set of lower highs lower lows and a stuff on the reclaim and then starts dumping and go all the way down So this is basically a very good way to use that and what I do in my room is Explaining live all this Reading the tape reading book map having my strategies on chart patterns and try to focus on the best setup with the low risk Set stop Let's look again. This is as IGC This is just just a normal extension in the morning Okay, we see here break out of the six. Everybody is going long volume coming in we are like two million bars on This was I think one minute chart. Yes, this was a one-minute chart and what happens over here You see guys they stop in a 640. What happens the same thing we saw before fake breakout Big stuff. Okay. This is a stuff with a soak over here And we had an imbalance and what happened what I told you before when you see like a set of 10 15 seconds That's in and out of the same one. Okay, that means soak That means that a seller here that are accumulating dump a right away dumped Well, this basically doesn't mean that it will be an all-day fader But it means that it will be very possible here a pullback if you enter here short after the fake Breakout your stop has to be just above this this high. You basically risk like five ten cents Let's see one more an extension. This was PxS. So this is an example my friend Nathan Passed to me So we have an morning extension over here pretty going parabolic Double top. We don't know here though that this is going to fail or not because if you so only see the chart over here Okay, maybe if you can have a $2 Big dealer resistance that will give you an edge, but otherwise at this 190 what what the chart tells you nothing I Was looking at tape in that moment and it's true at 190 195 we saw big prints Sorry 190 we saw big prints in the selling and what happened over here on book map You see basically three main things you see a soak the bidder tried to push but they couldn't couldn't push anymore and Then we saw also an imbalance. So basically where we're talking before So we saw a huge sellers Compained to the buyers. You see here 170 and 2 you have 60,000 and 180 to 160 of basically 26,000 so it's like more than 2 to 1 So basically means that we have a huge a huge Offer over here Therefore, what would you wait for trend line break set of lower high lower low? The next lower high would be your entry Okay, so Bruce we can go over some question if there's something on the extension place or Otherwise, I will continue. Okay. Yeah, there's a few questions here. Just a moment. Okay, so Let's see Rob is looking for maybe some examples on some large caps and then Christopher is asking here about the Basically the the green dots than you're showing here Aren't aren't bullish and then maybe you can describe why? Yes These green dots over here They're basically all the buyers that Step into the trade. Okay. The only thing is that when you see a level like this called heat map and you see that you have more than one dot at the same price and you see how these Are like all sticking together Okay, in that case if you have the same time a seller and it can be even a Fall seller that is Your soap so therefore this these buyers can't push any more up the price here 454 and so you will see like a fade all the way down Okay, perfect Let's see Martin is asking about the meaning behind the white line and I'm not sure exactly what you mean there Martin Maybe the this one over here. This is a V-wap Right, okay. Yeah, I think that's what what he's referring to and Just a moment here Okay, and some questions here about the Forex market Have some Forex traders in here. Yeah, I traded Forex Is Do these a lot of these principles do you also apply them to Forex? Okay Honestly, it's like 12 years. I don't look into Forex But yes, the same principles I was using and Forex I have now on equities and before on the futures. So the same way you see The chart the same way it was in forex the same way for me is in In the equities Okay, right so Yeah, Jason regarding the Forex though You're you're really not going to get a lot of transparency with the spot forex markets Because they don't show a limit order book and even the volume is a really kind of suspect in terms of the Truthfulness of the of the data Whereas you could in Access though with futures Currencies here in book map, you know some of those and then apply that to the forex market if you like and A few more questions here. Let's see Ronald asking about ACR X today That had a huge 1015 reversal by bubble and then something similar a huge 1112 reversal cell bubble Same result, but one is a by one is a cell. Can you explain that? Okay, so What you have to do always is to stick the tape book map and the chart together So we're looking here. Let me put one minute chart. Okay like this We're looking here at this pattern. Okay, if you look at this pattern people who study like Candlestick or also bar chart. This is an inverted pattern over here And the same thing you have it here. Okay, basically what you see in the chart is reflected on book map So in that moment, let's go over here 1015 and zoom in We have Here a seller you see this big seller for 10. So this seller tells you basically, oh, we will still push down And then what happens? this appears and Let's see if he passed over here. Okay. Yes, he was bought in and Right away we create an imbalance over here because you see Big buyers comparing to the sellers see huge buyers over here and no one's selling and Therefore you have your bounds. So stuck the chart Stuck the tape and stuck book map together Which was that a bubble he was saying Bruce? The 1112 reversal 1112. Okay. Yeah 1015 and 1112 Okay, so basically over here. Let me see the chart as well. Okay So this guys is what is called a volume exhaustion Okay, you may know that On uptrend you can have a big volume exhaustion. So you will see green and Here on the downside, you have a volume exhaustion Both 200k in the one minute chart right away bought up. Okay on On the on the cell. So right here We have a set You see this is the same thing happens when we have the soak Here was absorbed Was all absorbed remember before we were looking other examples when we are at the top and you saw a Set like this 1015 seconds of green dots here You see opposite because we are down Downside so you see a soak fake breakdown Reclaim this volume exhaustion so this can be possible. You're long risk in this one Right away. We have a bounce And we're starting going up and bidders started to come Okay. All right, excellent Let's see here. Tyler has a question When a large bitter prints on the heat map during a rally How do you identify the difference between the true bitter and the exhausted bitter? And then a number two. Do you believe this indicator? a Stronger seller it indicates a stronger seller Or the same buyer covering? Okay, a bit of it. I don't know if I got very good the question okay, so we Start with just part one about knowing if it's a true bitter or exhausted Okay, so in this case, let's take this example. Okay So here we have this volume over here and When you see this big cell You see this big volume over here. You can think yeah, this is still A starting of another down move But right away when you see then the reclaim here and no volume we know that that is a volume exhaustion and the fact is that this soak over here this soak and This here right away bought up That tells you that was a fake move if here you would have like a continuation to the downside like we had basically Before like let's see an example. We basically see this morning. Okay Coming down all the way here all the way here and You don't see any kind of Setup like we see over here. You see it's totally Let me get the example again Okay, it's totally different. You see how these are all together like chopping up So that tells you that it's a soak the second part of the question. What was Bruce? Yeah, just a moment So yeah, when you when you see that do you believe that this indicates a stronger seller or The same buyer covering If this happens and you start see a down push then means the seller are here and in command But the fact is that they're selling and somebody here is absorbing. Okay, this Guy here at 425 426 424. He's absorbing all these cells. So he's loading His boat for the long side all these guys here. Okay, we have here six hundred six hundred one thousand seven hundred two thousand and so on here three thousand one thousand and so on so let's say here we have I don't know 50 60,000 here There are selling but a guy is buying so a guy is loading over here because he wants this bounce Any other question? Perfect. Um, let's see a question here about the Let's see why do you not or do you trade just equities or do you trade futures as well? I should trade futures for a long time Mother is trading full-time. Yes, and a crude oil. So she she uses this Set up I have every day on equities because we both have some particular setup and choose book map as well So it's a very good useful tool for future as for equities and before our guys was asking How I trade big caps with it. So this morning I trade big caps every day and Today we were looking Netflix. We're looking WTW So basically it's the same as I showed here in the small caps You can see the soak the stuff you can see the hidden buyers the hidden sellers So right away here it open So a big soak over here, which was here Netflix started to come all the way down then basically you have to look all the support If you find on the tape still sellers, okay? So here we're basically talking about this selling coming over here If this big seller has the possibility to go break the heat map over here the support and Go all the way down So then next will be to find a daily chart here that I think this might hold for a bounce and in that case I will try to look for heat map imbalance and Book map imbalance to get long on that So it's always the same thing. You cannot trade Based only on book map as you cannot trade based only on the chart or only tape When you stick more than one thing together This helps a lot and I would like to bring Odin now to attention Because this is something like how to spot for institutional, okay? So it's basically one of the most important things that will happen in your trading because as a retail trader You will also have to fight against big sharks So trust me. There's no way that you can I Predict how the institution I will trade is only that the more experienced have the more Situation you will see over and over the more you will start to See these patterns and how to spot them Okay, this was Odin on the big move more than one month ago I know that a lot of traders were like stuck into this this trade so basically this was O's in the morning. Here's a five-minute chart. We have volume profile over here so this is the VWAP what happened that morning started to see this big push over here Everybody was stuck over here because people want like to jump in right away and make money They have FOMO to get in so if you want to buy this was a beautiful buy here on this Breakout in the morning on this dip because we had a fast wash reclaim the VWAP and push all the way up and Was I think was flow rotating small float. So first day Good catalyst then watch for your long and this is the favorite Kind of stocks that the market makers or the institutional like Because they have a lot a small float so they can rotate you and really manipulate you As they prefer they can squeeze you. Okay, like we saw a double axl tbr Big names that we can't mention over here, but big names bought the flow more than one time So you see your stock from two going to ten fifteen dollars Okay So book map in this case why help you a lot? So let's put this together over here on this push here exactly we were looking at Price three thirty We see this big push over here. Okay, this big push over here is this one then we started like to dump this is the dump and Still you can't do anything because you don't know that this is the next Yaco This is the next PTI that you will like try to shorter all day front side and big names big trader will also be stuck in it No, you have to wait for something like that Or you avoid it and you take it for the second day or you scalp it but waiting a low risk setup area So the majority of the people will try to short here and you don't have to do that You see this first bar, and then you see the second one this second one coming here is basically here and We see here a forming of a volume imbalance So this is the first thing that tells you wait a second We can maybe have a possibility of fallback Because we have from 318 till 3 let's say 326. Okay, so basically it sends we have 260,000 Shears ready to get unloaded and to sell and so we have a top over here a possible top We have to test the stop We have to know if this is a fake seller or this is a real seller that it wants to scare everybody into dumps on and Why is it in balance because we have 260 for 8 cents and 3 to 18 to 310 We have 43,000 so we have an imbalance like more than 5 to 1 Okay, and what happens over here? We have the price pushing one two times against the heat map at 319. So look so what next? This was the rejection that we're you are looking for okay Basically is this one here Okay, this third one here, and then you start to see this cell right away with that imbalance you so before with that heat map Right away to 288 which 288 guys is Let me show you better is Over here. So that cell that you have is that here you're here And right away you have a heat map coming here. So you know that you can take some profit What happens next? We have a bounce on the support. So all this area here all this area here is Bouncing the support from the 280s and here you see the heat map Giving you bounce bounce bounce. Okay, right away. What do you see over here? 200,000 iceberg order means somebody or was covering or was buying But probably was buying over here Knowing that we had this big heat map, okay And this was an iceberg order means that he was not present on the level 2 That you were normally see was hidden So bounced again, and then we started seeing this support over here again of 250 thousand shares so you see another imbalance because you see basically back to price 293 and 3 let's say 7 cents We have 39,000 the cell and you see 293 and you see here 286 So basically another 7 cents and you see 330,000 of this. So you say wow, I'm going long over here watch out What they want to do they want to bounce a little bit more again and There's and that bounce over here is this one here. Okay, and then right away. They pull the plug Whoever was here right away. This appears flush huge flush over here and you go to the V-wap Many of the guys over here, they will be stuck because they will like oh It's breaking the support is going to break the V-wap. So big sellers over here instead. It bounced up all the way so this is how the Market makers the big I call them the big whales. Okay, the big whales behave And you can see here again the imbalance. So it's always the fight guys between supply and demand that Only seeing when supply is stronger than the demand that gives you an edge in your trading Otherwise, it's just like, you know trading the chart, but chart here tells you basically nothing and I want to just show you a couple more examples here that can be useful So this was a easy s Some let me close this sorry Some days ago This is was another one that behave like a y2u today. Okay, so I'm doing some Very inside trading here So, oh, sorry acrx at a y2u So you saw here that we were talking about This high at five on acrx and this at a high pre-market five this morning so the same pattern is here on A e z s so you have this top here to 25 and This day went to 25 But we don't know if this resistance will will be a big resistance to short into What happens many times people start scaling to 25 and then they see themselves at still 250 holding the position Okay, book mapping this case gave me an edge. I know that on a easy s Have to be very care of careful low float But I also know that at that area over there. So it exactly to 28 we had this heat map rejection Waiting this pop lower high You can show it basically here. Okay, this 220 area. So this lower high stop over here all the way down Let's see another example. So this we talked about The XRT when you see an imbalance so You remember guys that date that this was a trade I think always Nathan or my friend MRG made Basically, everybody was short in this when I reclaimed stuck everybody over here So we were going to the late afternoon and we saw this 660 650 resistance Every time was coming up here and used to stuff coming up here used to stuff Where you had your? Adds where you had your edge and remember you have to Short things or long things always near the resistance or the support You cannot short over here risk and above here that will put your are so your risk reward too wide But in this case we came all here into the heat map and that 550 sorry the 650 was basically this area here, okay? and We have an imbalance over here. So 540 566 is basically 26 cents. We have 38,000 in 634 and 606 We have basically 16,000. So we have more than double over here for the cell for the supply Comes up stuff see a supply. So when it lose like the fourth five six forty 635 you can short with the risk just above that big heat map over here One more yeah, Joseph a few questions here if Since you're kind of on the same pop topic there about actionable items like how you Get involved in some of those trades like where you would be looking to take the position How I get into the position correct Okay, so basically I I'm a tape trader so whenever I see like a Push and I'm looking to short this because I know that maybe this stock has dilution or this stock like AYTU had a news in today's where I knew it would fail because I tracked that license agreement I See that each time it goes to the 650 660 we have sellers So that all things together giving an edge then surely I have to see that as a matter of fact Went to 650 here one two three four five six times So that I said I take into control into consideration because I know that I can have late fade setups And it's a setup here I don't have the setup because some things I still keep private for the small cap room if you want to join But basically is a chart setup It's technical analysis is tape and his book map all together, and I'm doing live trading. I'm sharing My screen I'm calling the tape in the right moment. This happens not when it's here, but when it's here other questions Yes, I'm still some couple of example guys Ah, I'm sorry. Um, it's so Regarding some of the iceberg orders I think you're looking at them You know the kind of it as a confirmation at some of the levels that you're interested in is that is that correct? Yes Example this morning. I was looking at ACRX this was a perfect example guys if you look this morning here. We had basically a Little bit choppy here ACRX being in a trading rents, and we had basically small orders. Look what we had Just here before the open somebody with 18,000 shears Stepping before the open on the cell Okay, so selling basically shorting basically this talk sure We don't have the confirmation 100% but we have the socket open. We have the heat map protects us So that gives us a low-risk setup Telling us that we can stop over here if things go bad We have a big iceberg order, and we have the VWAP so all things all four things together And if you see even here with the tape, okay? I call this tape on Bookmap in the same moment that this was going down. We had youth selling over here So was so heavy the tape Therefore that or this area, but all this year here is a lower risk Set here to get in Fantastic So a question here. How long have you been using book map? Okay, I have to tank here Delta trader. He's a great trader We trade every day together with some other few buddies So he's been using book map and equities longer than I use because it's basically For months that I use book map on equities I was using book map on futures for a long time But I never wanted to apply the same thing on equities because I thought Probably they don't work as futures I won't see the same things that I used to see on futures, but instead I was wrong and thanks to Dell I started also applying To the idea of having book map for the equities and now it's really like Every day a useful tool. I will never like work without That's fantastic. All right, so do you find that? Compared to the futures that there's even more transparency here using equities With book mass. Yes. Yes, because you can see better than institutional place so about the Dell what what often we look some things together and We we look when We can see the the institutional make a playing games what I mean by this On the small caps, but also on the big caps So on equities more than futures you can see these Big orders sometimes you see these big guys on the on the book That will try to push down or to push up the stock as they prefer and many times They will have the same size. So if today example you saw ACRX, okay, we are looking Before in an example, you're looking this guy here being with 250k and before it was with 140k so all morning all morning You could see somebody with a huge amount being up here, but also we see we seen Guys with 30 40,000 shears always pushing them down. So on different type of stock, especially on Momentum stocks, so the one I have the majority of volume traded that even the manipulated ones you can see this thing example, I remember AWX when it was manipulated and short squeeze everybody and You could see always a big buyer with more than 100k going up going up going up. So always trying to push the the tape up and you couldn't see this on the level 2 because it was always like maybe 10 15 cents before and But you could see this very good using the book map, okay Regarding that taking profits or You know exiting your trade. Are you looking at the front-running or looking at maybe a scene some icebergs go off and then jumping in? Or are you looking at just the higher institutional liquidity? So for taking profits? Yes Okay for taking profits basically I tend to look as strictly My system which I generally exit in three Parts generally I exit one third one third one third and this is basically two Chart patterns, okay, but each time I exit I have to know that I'm in the moment that the tape stalls or slows down a little bit. Let's say I'm long, okay, and I'm basically I know let's say I'm long over here. I Have technical targets that I can explain in my room, but those targets have the Reason to be valid only if my tape and the book map confirm Let's say I'm long and I see a big seller over here at 430 And I see also that the tape is slowing down So all the bits that were pushed in 420 421 430 422 are slowing down I mean really the speed of the tape how much they're buying how fast they're buying they're slowing and I see the resistance I know that have to get out at least one third of my position over there So stick all the things together excellent some questions here about futures and And Do you still like well do you trade that your European futures as well as US futures? And do you have any examples? Okay, I was trading DAX I was studying footsie Was turning ES CL GC for doesn't know comics is a gold YM and Q and so on that I did a lot for a lot of years I find only equities a little bit more predictable and more interesting for the fact that There are news every day. You can read the filings. They are like twitters. Maybe like some big guy Tweeting something of this company and this moving up and down or The president so all these things together a little bit more interesting on equities So if you see over here, you can see example ES in the same exam is the same Parameters the same setup that we were looking before on the equities you can have them on the equities Sorry on the on the futures. So The important for me is just like to find always that Shift between supply and demand knowing when the bids step in and they are in control or vice versa Okay, so let's see here There's still some more questions to get to And some of these are regarding, you know, where to get book map, etc. I can reach out to you on that Some are regarding some of the technical aspects of the columns. I can also get back to you guys on that. So but Let's see here the Regarding some of your trading here Let's see The when you see You know a stock moving up for example, but on low volume you know Coming up into maybe an area of Strong resistance in the book. How do you how do you play something like that? Okay, first of all I I Depends if I'm trading a big or small cap for the reason that You have to be very attentive on a low volume On the on the small caps Because it can wash and I can like Trap you if you're long in something like this, we know there are like many chat pumpers So let's not take us for a ride We know that the best Longs in the market are or on the first day with huge catalysts low float, especially when people are are Rotated and sure squeeze or in the big caps We know that the small caps a sooner or later at least 70-80% of them will tend to die So answering your question this morning I Did the first trade on a white you as a loss Because I knew that had warrants at 150. I'm a good reader of the filings Some guys even better than me like my friend Ricky Or Andy fade the gap very good guys But still I traded a set up. So I was here on ACR X. That's sorry a white to you pre-market And I'm gonna show you and I was looking this Breakout over here. So I won for the night. I clicked long. It was looking book map. We didn't have like much resistance So I I got long small field because pre-market stop five cents like little loss and This was due to low volume, but many times this volume, which is the key Will Be very important pre-market to be analyzed because you will see very low float stocks that will be very Low float and with a little amount of volume they will push like maybe one two three four dollars So that's why I tend to look for cup pre-market or like bounce from the V-wap Because there's always a big possibility that these will push. I tend to Long a lot pre-market. I tend to look also for longs after the first dip and also lay day to going into after hours and Second day. So I generally trade one third long and two thirds short one of my best Stocks where I I look for longing is Netflix which I trade almost every day. This is something like smash my friend smashed a bid past me I Really Try to focus on one big cap and trade that each day of my life because I try to look each time this Is absorbed soaked. So I always have one Netflix home book map for that And I trade the one minute and that together. That's it That's the only thing you need and then sure that the tape But it's only you need all the other things all the fancy stuff It's just like because you're not secure in your setup But if you see where the institutional where the big support resistance You can trade Netflix all day long with options with stocks as you prefer Fantastic, so when you first started using book map This is more for People that are just getting involved with it. What did you gravitate toward to begin with or what would you recommend? People start to look at first Okay, the first thing you should look is only look at the chart. Okay, so let's look an example and I will answer very very Precisely this question. We see this today. We see this resistance at the 310 and 3 980 on Netflix, right? so Today we see this Heat map here giving us confirmation at the 310 and that the 3 9 over here Okay, if you're trying to trade example bounces for short You will just need to look your resistance line over here Your resistance line heat map on book map and your tape that at 310 you see a big sellers and Starting to reject. Okay, so right now here. What is doing is breaking the seed map over here? 307 and is breaking the V web. So You see that this V web over here was also the line or near very near the line Where we had the heat map So stuck all the things together. This will be the first thing looking at the heat map big Resistance, then later on you can add in balance iceberg Volume diversions and so on Okay, perfect Let's see here. Well, we've been going for over an hour now. There's still quite a few questions here And I'm kind of thinking maybe we'll follow up via email on some of these questions and Else I don't know if you have a bit more time. You want to answer maybe a few more Joseph okay, we can do two more than I have to get back to my guys in the small cap room. Okay, sounds good Let's see here. So can maybe you show do you have an example from Apple earlier today a reversal around Somewhere around 1024 or 1031 Eastern Okay, let's look up. I was not looking at Apple today But let's look together So 1015 1030 East this way this area here, right? Yes, I believe so Yeah, okay So let's look Apple Slowing so right away you see inverted Head and shoulders with the neckline over here So let's look Apple Okay, we are at this here over here Okay, the first thing you can see is this Neckline, okay, you don't know basically where this will stop. Okay. It's very simple to analyze things 2020 We know we are everybody is is great knowing what happened When you see something and I don't like to do this because I was not trading this So I didn't know what was the I don't know what was the tape at that moment. I don't know How Longs got in and how fast the tape was going for me is very important reason that I can see now the pattern this reverse head and shoulders and You can see basically serial one 9975 So you can see basically the head and shoulders over here 195 and right away here you have some heat map. So let's see. How was that eat map if there was like in balance? Sorry, just one second Basically we are Here, okay So we see here this 25,000 so that will be the area that if he goes away If he's chipping away, I will get long. So having the pattern Having the resistance on the book to look for and then I would go in so in this case around 200 above the whole round dollar number when there is like the bid being my cushion So if I enter 210 220 my stop is just that 200 and then Goes all the way up, but I'm not one of those guys that I say oh, I would have done this sorry if I use this turn but For me as being bullshit. No, I treat live. I don't know what I've done here, but I can analyze here now What it's happening or it happened? Okay, Bruce. Yeah understood no excellent examples here everyone's a you know writing here that These examples are fantastic and and thank you very much Let's see here just regarding some of the contact information for Joseph. I've been putting it in the chat here It's in again. You can see it here in the book map calm. I'm sorry in the chat for a go-to webinar So if you want to reach out to Joseph if you have questions for him His Twitter feed his YouTube channel his email and then there's a link there for trying book map If you'd like as well Okay, so I think that's it I'll follow up with more of the answers here And then I'll I'll reach out to Joseph as well with some of these questions and and if I didn't answer them Or we didn't we didn't get to them. I'm sorry, but we'll we'll try to follow up via email Well, thank you very much Joseph. There's a really excellent presentation looking at The order book and and how you're reading it how you're integrating it with your higher time frames and what you're looking at In the auction and in the order flow So, yeah, thank you very much Thank you, Bruce for having me here. It was a pleasure also to answer the question of the guys and Just here to help everybody If you ever need thank you very much. Thank you, Bruce and thank book map. Okay. All right. Thanks guys. Bye. Bye