 Good morning traders and welcome to the Crypto webinar series here today with Joseph at J trader if you're new here to bookmap then Well, Joseph does every Wednesday. He's a stocks and crypto trader then and he trades the Stocks every every Wednesday here. Anyway, we're gonna go through or Joseph's gonna go through how he trades crypto and If you don't know who he is, he's been trading for quite a while since 18 He's a young guy But he's been trading for since a young age And he focuses on order flow scalping and trading mainly US stocks and options But he's the main trader at his small cap room. We'll talk more about that in a minute and he Has been actively trading cryptocurrency since 2018 I have his contact information here. If you want to reach out to Joseph, I'll be putting this into the chat So you have Somewhere to go if you have wanted more information on his mentoring and education We need to go through the disclosures here and then also some special offers that we have and then we'll jump right in to the presentation with Joseph However, we need to go through the disclosures. It's important all book map limited materials information and presentations are for Educational purposes only and should not be considered specific investment advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes live trading Executed in simulation cannot accurately represent realistic trading performance Risk disclosure trading futures equities and digital currencies involve substantial risk of loss And it's not suitable for all investors an investor could potentially lose all or more than the initial investment Risk capital is money that can be lost without jeopardizing once financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading past performance Is not necessarily indicative of future results. All right, so let me go through some specials here though this You might be interested in We have only for this crypto webinar series is good until July 13th 30% off coupon code for any new monthly subscribers, okay, only for the first month though and then we also have a free month of global plus at each webinar event here, so Enter each time and you have more chances to win the way to go is to join the book map Discord hashtag special events room and then type CWS in there Here's the link. I'll be putting this into the chat as well for you so that you guys can Enter and try to get one month of free global plus. All right So what I think we've covered everything Joseph. Why don't I turn it over to you and then you can take it away? All right, so good morning everybody. Good morning over here Bruce So I'm going to share my screen Let me see Bruce if let me know if you can see it Yes All right, so glad first of all to be over here today traders with book map Bruce He's an almost on a host We're gonna cover how I use book map to trade cryptocurrencies how this Softer is a huge hedge in your trading. So crypto trading course Why I call it course because I'm gonna cover some of the strategy that I believe will be very useful And that you can start like, you know looking from tomorrow As usual, I take time to become good in trading So don't like listen to this Course today this podcast and then right away start to trade with these strategies Make some experience trade first of all insimulated Track your performance and then you can start trading with a good risk management So I'm Jay trader. So good morning everybody We're gonna start over here looking at our First crypto tool white book map So over here, we can see that bookmark gives us a truth of what is happening in the cryptocurrency market because we can spot liquidity We can spot demand and supply levels of risk liquidation areas reversals divergence and imbalance areas. I Don't use only book map alone to trade and I don't use only my charts to trade But I'm using I would say a combination of these three factors so first of all I Individuate on a chart supply and demand areas These supply and demand areas I look for them into a higher time frame So I will pass from a weekly to a Daily to an hourly chart When I trade cryptocurrencies, I have two main strategies One strategy is for the long-term period So I'm looking at weekly and daily charts mainly and that one is a day trading strategy Which I only trade for Bitcoin and soon we'll go and take a look at that and I use an hourly chart and a five minute chart I don't really want to go on lower time frames lower than five minutes So you're looking for you know scalping only because I always want to keep I would say a macro picture All right off what I'm trading Sorry So we're gonna review together the supply and demand areas what they are the chart patterns that I'm trading So we'll look at order flow when I'm talking about order flow Bruce knows better than me We're gonna go over the micro picture and also the microstructure in order to see the I would say the big picture the long-term picture and also to see the We say the microstructure that we can have in our Book map on a daily time frame so Trading is like a puzzle. I always say why because you have to put all pieces together to see the entire picture Right, so I cannot trade in my case and this is really what's been working for me What's been working for the traders of my mentor? I cannot trade only a chart pattern Because I will trade for example just a let's say a bounce a rejection from a trend line But then if I don't have a clear vision of what is the Main picture so the supply demand areas and also the order flow how much liquid I have over there So if we have some big buyer or a big seller and near our areas, so knowing this it's very very important Alright So let's pass to the to the first over here Snap over here you can see Book map. This is Binance futures, so you can see over here traders our Main We say levels called these orange levels and yellow levels are called heat maps So those are levels of liquidity in this case They are supply it means on the book at that level We have a certain amount of sellers and you can see that in the first part of our monitor over here Let me know Bruce if you also see my curse over here going Yes, looks good. Okay So, thank you very much. So over here traders you can see that this is called liquidity. All right, so we have over here liquidity So these are all Sellers place at these levels. So 31700 31600 31600 over here in 60 and We have basically Supply area so means that when the price will start pushing into supply area If the supply will win versus the demand, we're gonna have a rejection and a fail So one of the terms that I believe you need to learn is soak so over here you can see that the price so is We have a reclaim of the V-web, which is this red line over here We start to have like a first peak and then we have like some sellers over here probably Profit takers and then we have this Big pushed upside. I believe also over here. We have some sweep. So what is sweep? stop loss Some some stop loss hunts and then they go over here and once they find this liquidity We have also some liquidation and And they start like dumping liquidation in this case is a is a new indicator that we have on book map Bruce will tell you basically with better. I always say technical words, but you can see over here basically the liquidation of Some particular 0.2 Bitcoin, right because somebody over here at the margin call, right? That's the point over here. So 0.2 Bitcoin in six over here Say situations or scenarios Right away, we have a dump. So means that at this soak for the fact that we are not pushing up anymore Means that the supply is in control and we start like unwinding So if you understand this if you understand that we have a supply area Which is this one? We have over here Increasing buying but at a certain point these buying gets soaked, right? So basically these buyers get absorbed means that the sellers are more than the buyers And we have no more buyers over here no more demand to push above 31 and 600 and Then what happens? We start like fading at this point. You see only sellers. All right only sellers over here Again over here. You can see the liquidation. So over here 0.5 Bitcoin in 19 situations or scenarios and then over here you see more All right, so this is a pretty important indicator that tells you where we have I would say the majority of the Concentration of volume traded like over here like all these which are as liquidation But also sweep right sweep because below for example this level we can definitely see That they're going to trigger their stop losses and all these stop losses turn into the liquidation over here Bruce am I correct what it's saying because yeah, I want to be clear and explain this spot on I mean, I mean this is Just to give up maybe a bit more definition to this liquidation indicator It is it works for For exchanges you're looking at the one that shows the most which is Binance futures and that makes sense Because it's leveraged and people are getting liquidated The move to the downside here. You see the sell transactions here This is people that were long and they are Forced or the exchange is forcing to close their position because they've meet they've met Or not meeting their margin requirements. Therefore. They are their their position is closed and it's a rather Amazing thing to be able to see this at the extremes each and this this I remember this example the other day It's it's incredible Exactly, so you can see over here traders as Bruce was saying and that's also the reason why I always say Careful using a margin account because you can blow up very fast You can have a margin call especially small accounts that you're like Adding to a losing position or life start shorting on future Well, this is going up and you add add add and then margin call you have to close, right? All of these liquidations are part of that. So let's look over here the price action to understand better I often use trend lines with my book map, especially with the trend lines going into levels so if you remember we're here we had the supplier, right and They start over here to To cancel right so this is not really spoofing. They're canceling over here orders They see over here higher momentum and then once we peak at this level I'm still not looking for a short or reversal of the trend But once we have the trend line break and I started seeing over here sellers Okay Now this is the point where I can start like shorting or selling if I was previously long and then I can Write simply the trend. Why write it because the majority of these dots, right? So these are basically sellers getting over here executions, right? They're also a big supply and control You can see also over here the indicator of the liquidation. You can see a bit you spike Very on this v pattern. So when you trade The chart patterns, you remember the v pattern. So really like a big wash the downside and right away a bounce over here At a certain point We start having over here Some buyer trying to hold the price up again moving over here moving over here So I don't see him over here forming another level. Maybe he was like Absorbed over here But the point is somebody's trying to make it bounce and then again another trend line break Sellers in control and then we have another sweep over here, right? So we have a break on this level sweep right away to this support area, which is the demand area So if I have to look at this chart Sorry, if I have to look at this chart, we will make this we'll have a first part Which is over here the supply and then we'll have over here a second part Which is over here the man and until the price doesn't reach this area I'm not looking to sell or to short and until the price doesn't reach to this area I'm not really looking to cover. Let's say if I was previously short over here and Or to buy because I want to buy not over here mid-range. I don't want to buy over here while maybe still going down I want to buy when I start seeing like some bounce because that demand area over here will give me a very low risk and Then I can again look to sell into the previous Supply area. So this is really how the order flow works. All right Now let's look another example In this case we see The continuation all right of that to the demand zone. So this is the It's the same day Remember, we had the big liquidation over here and then we had this sweep. So here we have the breakdown We have over here stop loss or is going on and you can see over here that we have Another v pattern over here, right? If you look the price action below and You can see also here use amount of liquidations for about 2.2 Bitcoin and then bounce back up So what happens over here? We have a main demand area 310 40 3090 80 3090 20 and then start bouncing So what do you don't want to do? You don't want basically to short over here because you cannot short Into or at least I don't like to short into a high liquidity area, which is the man's own I'm waiting for example a breakdown And then I want to see a retest of that area and then I'm looking to short So I want to see basically that the previous area where we had demand now become supply So this shift is very important when you're trading over here cryptos so let's look at the long-term timeframe and why book map is Helpful so first of all I said before you have to learn about the order flow and on a YouTube book map You can join and look for different with say content We have like videos explained order flow rejection bounces How to spot manipulation and so on now the second thing is also to understand the Micro picture over here. So we're looking at the long-term time frame And we're gonna look at these two was a parameter supply and demand what they are so This is a weekly Over here is using bit fine X weekly. This is a transpider. I'm looking for The main levels of support and demand there's support and resistance. So support being called demand and supply being called resistance So over here, we see that the price Dips the first time on this area over here We were around the 30,000 era and then this was back in 2017 over here. We're getting near 2018 and we had this pushed to the 20,000 area All right, so we form a major peak and then you can see that once we establish this peak We have a lower high Lower high a lower high lower high lower high. So we have over here a slow down trend This is also A demand zone, all right I didn't this I didn't put this over here But this is the man's own and that's the man's own with what with a distribution pattern Of the sending triangle So why distribution pattern because each peak over here is all over high Remember, this is on a weekly. So in order to form this pattern over here, it takes something like nine months Right nine ten months Then we have a breakdown and where we have the breaker into this area where we start having a consolidation, right? Consolidation that will be transformed into an accumulation area Accumulation you can see it's very tight Over here. We are Into this Band over here. This is my J line to which is a perfect band and since 2010 when Bitcoin came out Through this you could get all the dips and then once we have thousand and ten when that is competition pattern Breakout over here. We start bouncing from the demand zone So at this point, what are the levels over here that I will be looking for? Well, this is the main level. So the main previous resistance But I'm always looking to buy the dips So I'm not looking to buy over here because often and I will show you after in the next picture Bind the breakouts. It's really buying a bull trap So you will buy the top like many did for example past November or many did for example the 2021 April and what happens you get really stuffed and then you will like buy I would say the top when instead you have to sell it. So what I'm going to do I'm going to find out over here the high of this entire period over here that we're looking over here three years And then I'm going to look for those accumulation over here like this over here into demand zone Or for example, I'm looking for these patterns over here. This is an ascending Triangle again into my area, right this J line to and I'm going to look to buy into these areas I'm going to buy into the series applying my stop below like over here over here and This gives me a valid I would say Low risk reason too long one because I buy Near a demand zone so I can use a very tight stop loss over here I would say a relative type stop loss because over here. We're talking about 6,000 over here is 3,000 But you understand what I mean. So having a tight risk I'm not really buying over here on a 20,000 break out and I'm going to risk the relative low over here at 4,000 And then if I'm buying this here over here All right on this ascending triangle. I'm going to risk this low and I can see that Here we had one accumulation and over here with a second accumulation Once then we have these bands over here You can see the formation right these bands start to be over here golden color and They start breaking the supply area and the next supply area over here Then we are transformed and I'm not selling over here. I'm not selling until I have these bands like working So let's pass to the to the next Snap over here. So this is always Bitcoin weekly chart so remember we are looking at this demand zone and Over here, I wanted to share this because it's very important To understand the price action the chart patterns. So only if you know What works in this mark in the crypto market? You're able to make your living to make your income in trading cryptos So this is the band that was selling before and you can see this band is Until goes until 65,000 Now imagine that you are a breakout trader. All right So you're looking over here for a breakout you're buying in this case You're you're having a good win. You're buying over here near the 40,000 Possibly the day you will see a Use amount of demand so pretty good heat maps over here get it removed. You will see also some Some liquidation some margin calls over here from shorts Getting stopped out and then you have this big push but let's say that you start buying over here you bind a peak and then right away the week after the price from around 60,000 goes back down to 50 or even worse if you buy over here Around 62,000 63,000 gets to the 65. So you're probably maybe gonna even increase and then one month later your Your I would say Capital over here is like down 50% instead what I do. I'm looking for those areas of demand Okay, so over here We have a big demand and then I'm gonna see over here another demand and I can see that we have these demands with again my J-line one weekly and again I won't trade only because I see that main level of support I will start looking on book map if that day we're gonna have like Dips holding and then being bought up and then I'm gonna start my position This is the main supply area on the start, all right, so you can see over here That once we reach in October November 2021 the supply area again over here. We have a breakout, right? So if you buy all the breakers over here, especially these 52 week highs You're gonna have like a really hard time making money in the cryptocurrency world So you cannot buy over here the the breakouts. This is a bull flag a bull trap, right? So this is a bull trap right away over here This is created from the big ends in order for them to give you to give them time to give it like liquidity To sell their positions because if you create a Breakout if you really have that huge amount of size if you are like Looking to sell a huge big position or to take profit you're gonna have some liquidity You're gonna have like some Demand below and the man is form on the breakouts. So what happens over here? Be smart They're looking to form the breakout so that they can dump exactly on you looking to buy So they're selling these areas over here Maybe you're holding you're selling down here or you're still holding down here losing more than 50% All right, so let's pass over here When I go over some book map examples, so this is looking always the longer time frame supply and demand and We can see again on a daily time from this time that supply up here All right, so the breakout over here that we just spoke about about the 67 68,000 over here right away fail And then you can see even better over here the demand area, all right So where we have buyers coming in at this level at this level at this level at this level and at this level So if you have to buy Don't buy up here. All right. This is my suggestion Start watching this thing start to buy dip start to buy over here in the demand area And that's the reason why book map is very helpful for me because book map gives me those dips And I can see the liquidity we have there so I can look at the microstructure and the macro picture and for my plan Let's jump over here to this. So this is just to make understand the bull traps, right? So you can see at 65,000 over here. We have a perfect breakout right away the next daily bar Okay, this is a daily bar. So you have like not even 24 hours over here to to call it profit then boom right away And then over here instead you have like three days three days and then back below the 65,000 then unwind At the same time, I'm not really looking too short Okay, I'm not really looking too short on breakdowns because as we saw before and this is always a daily chart If you buy the breakouts, you can get like stuffed If you short the breakdowns, you can really buy the you can really short the the main dip So this was the demand over here back in 2000 2020 Over here 2021 Then 2022 remember this is the main washout that we had over here and over here that day. We had a lot of Liquidation all right. So a lot of longs over here buying buying buying with small accounts margin calls boom liquidation out Instead as I said, don't look for these areas over here to short Ideally, we'll see these areas over here on the demand to buy Some of the the main rules, okay for the the long entries and then we're gonna look at some examples on the book map so Few strategies that you can start looking at prices rising With increasing momentum. So how many times for example, we have Yes, right. So yes futures That they are the guide for the entire market and you've seen like During the spirit if you are filing for example, yes together with Bitcoin, how many times yes Anticipates the move of Bitcoin and actually inflates Influences the move of the Bitcoin and you will see that all the tech stocks Tesla, Apple and Vita often they anticipate the move on Bitcoin. So this is not a general rule But often you will see this correlation between Yes, so as B5 500 futures with Bitcoin and in that case I'm writing momentum because let's say if yes has a big breakout and I'm going to look for any position I have this break of so buying dips or pullbacks Whatever and then I'm going to do the same thing on Bitcoin Yes, let's say it's dumping hard. It's bringing down the entire market to bring down Bitcoin and Vita Apple everything Then I'm gonna look for for example shorting over here Bitcoin Liquidary removal of several heat maps. So to see if Your coin could be Bitcoin or other coins During the day is strong. Look how many Heat maps, right? So liquidary areas supply is able to remove and with how much speed for example, I see a lot of traders that Prices going up, right? We have over here a main supply area and they want to they're gonna basically sell Only because we have a supply area. Maybe we have another one over here another one over here Another one over here So this is a good part of having book map because you can spot that liquidity You can spot who is over here on the book Even when you're starting over here to move, of course, you always have to control it because like With momentum these can get like a spoo. For example, they can cancel or for example, they can simply Become bigger levels, right? But the the speed of how we remove these liquidities How we remove these levels and if we can console it and right away bounce back up That is for me a very good sign of a strong environment Then we have pullback in uptrend with the 90 mayona heat map level. So let's make an example over here so we're looking for Over here, we're gonna put a level of breakout, right? So we're having a breakout and Then we're having pullbacks So this is our trend, right? Let's say this is BTC use the and over here. We're gonna put for example This line which is a 90 may okay over here. We have a 90 may gonna put 90 may So I'm not looking as I said before to buy over here All right If I buy a breakout generally, it's just like for a scalp because I see something on book, maybe I can tell me all right We can have like some follow through right away immediately, but generally I will wait for the first step Especially on the first pullback after the breakout and this is a really good tool for me I will look for the 90 may and I will look over here if I start seem like some support or heat maps I'll start seeing over here buyers. I will start over here to see the speed of the tape So how fast do we start like? Climbing this ladder And then again, I will buy over here or I will buy over here So until I have this 90 may and this could be on the one minute chart or in the five minute chart Now supposedly if you trade a bitcoin, I prefer the five minute chart Having a little bit more like bigger Uh bigger moves or the hourly chart and I'm talking for you today So this is another of the strategy that I'm using Short trap on fake breakdown of support plus bounce reclaim of previous liquidity level So as we said before If we have a level All right This say this is our support and we're breaking our support and then we reclaim right away over here And maybe I see over here a heat map We're gonna clear this out and then we're gonna reclaim heat map over here So the man is gonna come back again. Then I'm looking to buy over here. Why? Because this is basically a bear trap in this case Because we couldn't have a follow-through over here and more in wine But these sellers over here were exhausted and they were over here. I would say Um There was a shift over here in the momentum between supply. So sellers into demand The last one is unwinding Plus exhaustion action is strong liquidity support here. So basically it's almost what we said over here Uh, so we have like an unwind unwind unwind price is going to the support over here We have some exhaustion and then bounce back up. So I'm looking to buy on support. All right This is a mean I'm looking to buy every single level that I will see heat map But I will look for example with book map I will look at the daily chart The hourly chart the entity time frame to see if that support is a very important support And then f over here we have the support that is holding to get with the order flow Next one is looking for the short entries Uh, Joseph, can you explain a bit more on the exhaustion one on the long entry? What would you mean by exhaustion? Let's see if we can Look for some example over here All right, so Over here we have binance futures traders You can see over here Uh, I have my add-ons over here. I use the liquidation. All right And uh, over here I can put below the the sliding so we can put over here. Okay It's not really any good examples there, but uh, uh, anyway, exactly exactly. This is this is today price section So let me see if I have saved over here. I mean, I guess you can look at maybe somewhere There's just less buying or selling in certain areas Exactly so I would make this example because for example, we have a main support at 29 800 and uh Okay, so we can look for example Let me zoom in. Okay So this is what I mean by main support area And uh exhaustion over here at the move So price is unwinding and you can see Traders that we have the majority of sellers So these dots over here, right these volume dots are called This is all main sellers sellers sellers over here sellers And then to a certain point over here We have really like this dip and you can see that right away. We start bouncing over here with blue Uh dots over here. We have like buyers and where this happens in a main liquidity area 29 and 780 I believe So we have a major bounce from this area So I'm not really looking for example to buy over here Over here. You don't buy falling knives. Okay You have to look for when to start like bouncing So what I'm going to do over here, I'm going to apply my chart patterns. I'm going to apply my analysis on a On a daily chart on a weekly chart. I'm going to put my trend lines I'm going to start for example for this bounce. I'm going to look for a curl as we said before the main area All right, I can start looking for a long over here to this area And these are the levels where I want to long I'm not definitely longing over here Not definitely longing over here. You can see huge amount of sellers, right? All these magenta over here Over here starts seem like some buyers finally. Why because they have a main support So this all this area over here is where I'm starting to long So where start building my position? And it's very important to understand this because this is the key to understand the order of flow And how to use book map to take longs or shorts or you know buy or sell right as you prefer now Let's look for another example Yeah, that was a really good one. I think um Right in line with your strategy That there was a lack of selling or very little selling at the bottom And then it started to curl back up and you found your buyers Hey, exactly exactly So I want to see really the the shift over here and this is why It's it's incredible. Also over here. We see some exhaustion of the move traders. This is beautiful over here Then over here. We have uh some capitulation. You can see over here right away They are bouncing so we don't have any more sellers, right? And then we retest this level Just like a few minutes later over here and then start bouncing back up again. You can see the entire amount of buyers Let's see if we have an example maybe in the last hour. So i'm gonna See over here. No in this case we have a Some of it here Liquidation 2.7 bitcoins into this 30 000 area. You can see over here. We tested 30 000 area Some absorption over here and then started to bounce All right, so we covered over here the long setups Let's look at the door setups as well So i'm gonna put this up again Okay What are the best short strategies remember traders? You cannot short for example on the spot So you need also a futures account Uh short entry As we said for the long we're looking for momentum, right? So price is declining over here with increasing momentum So you see the increase of selling pressure and this is very important because a lot of traders think that if we are unwinding It's good to short. No, you need the confirmation of the volume You need the confirmation of the order flow Otherwise, it doesn't really matter if we're like breaking down a support if we don't have the follow-through Pullback in downtrend and 90 may on heat map level. So we're going to see some setups after about this Uh pullback in downtrend. What does it mean? Like we said before we have over here, uh A stock a stock a coin that is unwinding And this is our 90 may So I'm not looking to Shorten the breakdown Let me wait for the first pullback into the 90 may This is the era and if over here I have a heat map I'm then really looking to short it then we have Bolt trap so as we saw before on the fake breakout In the case we are looking at weekly examples, but the same happens in interday example And I have a fake break of a resistance right away comes back below the resistance Then I'm looking for a short Extensional exhaustion into a high liquidity area resistance Uh rejection. So it's basically the opposite of uh, for example What we saw right now on the on the long side now, let's look traders at An example of today So this is uh Uh, joseph a quick question on the nine EMA and what what time frame? Okay, so that is asking Okay, this is a good question. So let's look together over here We're going to put btc sd We can choose uh different Different brokers over here now. I'll put just over here Uh bitfinex And we're going to put over here a 90 may so I'm going to show you the the different over here Uh, we're going to put for example exponential Moving average you're going to stay with the nine. We're going to focus on this right now. Okay, so we're going to put yellow And uh, we're gonna Take off everything else just to focus on this So why the 90 may is a great guide? Let's do like this So on the left, we can see what bitcoin is doing right now. Okay, so we found the top over here of 38 30 and 850 Which is this top over here All right, this top over here Around 38 50 over here uh This push Was not into a main Let's say supply area Which for me the supply area over here is this level over here. So let's put this area This is the main supply area And these are the peaks Why this is the main supply area? Because for example over here we have the bounds So this was a demand area over here. We had rejection over here. We had the rejection So this area over here is a very important area And then we have the next demand area down here as I indicated, right? So i'm using that 90 may On the five minutes for interdate and on the hourly mostly to see if the price is Above or below. So if you see over here guys The price is simply above the 90 may right So it's consolidating over here and it's curling. This is a tremendous bullish pattern Then once we break for example down here, you can see the price always remain below So at this point if I would have an interday heat map, I can decide to date rate it All right, so if we go back over here and uh This where example was around the seventh So now I don't have like enough data over here to go Uh back to to yesterday You can have a trader just like I I upload over here only the last 24 hours because this morning I had like 12 charts between futures talks And crypto on my on my book map But again this area here If you go back and if you have a book map, you can see yesterday was a huge amount of demand Much more than the level that we see over here right now. This uh this demand here So passing to a five-minute chart and also over here We can look at the time so we can put even the 60 minutes over here. Okay. I want to zoom out a little bit Okay, so this move Is happening above this main support that we saw before right So this over here is uh very early. We had that dip just below the 38 000 This dip over here. You can see also over here the use amount of liquidation that we had around 0.45 bitcoin Is this main support down here My 15 o'clock is 9 o'clock u.s. Time remember This peak over here Is this peak over here right so that you understand So the first thing that I do when I want to day trade is looking at the five minutes and hourly And then I'm looking for zooming out over here book on because I need to see what are the main demand and supplier For example Bruce knows better than me that I cannot look in over here too short All right, let's say I'm looking over here too short I cannot short if I have that huge amount of Demand error down here this huge amount of uh, uh buyers. I'm not looking to short into buyers Ideally I will be looking to join and grab some long Okay, and the same thing up here So We had a even a good pattern over here for a long And I really like this So I'm going to show you what I mean This is something that I use In my room to trade so Once we had this um Breakdown over here. This is probably sweep have worked massively over here So this is nine o'clock dip right away reclaims the 90 may right and then you start seeing this Cup pattern over here, right? So we're talking about this uh cup pattern over here which is This over here So that cup pattern just into the 90 may this is where I start looking for some long position When I start to see like some buyers and I'll put my stop just below and you can see over here then the price section That is moving from that 30 and 100 over here to 30 and 800 and you can see massive buyers massive buyers over here What I'm looking at I'm looking at how these bar form and you can see each bar is making a higher low And this is the first bar over here Where we have the price section stalling And then right away we start having the breakdown. So this breakdown over here comes at 10 o'clock So over here. So you can see that we have a first shift We go over here. We have exhaustion of the move over here. We have no more buyers. You see over here. No more buyers Which is this bar over here No more buyers over here. They're going to retest this high And this time you can see that we passed from being all with Blue volume dots, right? To all magenta over here So now sellers are in control and this is an interday move Interday move that we started with a fake breakdown. So in this case, we had the fair trap, right? So they push all the traders over here to get out Long on a stop loss because they're like saying, okay We're going to break down over here the 3100 We're going to fail over here also short seller jumping in instead of what they do They reclaim it and this happened also often on big cap land This happens often on futures as well on yes So often I see morning fake breakdown right away reversal And then you start seeing over here the small accumulation And then you start seeing over here the breakout and then you can start seeing over here a huge amount of demand The man and until you see this buying pressure over here you stay in you ride this Then you start seeing over here Small distribution pattern So you have to know your pattern together with with book map and then you start to see down There's your exhaustion there too. Really nice one Exactly. This is this is beautiful over here. This is a beautiful example to spot this Uh Let's look over here. So let's zoom out a little bit. I want to see the last part of the move We're going to see if we have some setups forming So I'm going to zoom out again trader to see where are the main levels, right? of resistance and support So I'm going to trace my lines over here So I'm looking at the Bigger time frame to take my lines. So let's put for example, first of all an hourly All right. So over here. We have already some lines We're going to zoom in over here And I'm looking to we have two main lines over here I don't really like this a lot This is our line And this is our line. So we have like Let's say a morning wedge over here seems like a morning wedge So we have our lows lower highs So now it's only to see the main demand and suppliers with a sell-off On the sixth over here. That was a brutal sell-off And remember that right now bitcoin in the last Three weeks is basically lateral. So we're waiting for a direction. The same thing is doing the market So we are in the mid-range. This means that I'm not looking to take any kind of Main positions right now. I'm only looking for watch rate I'm only looking for example scalping or for a small day trade like I did over here in order for me to have like A big I would say setup. I need to see Some kind of break out over here. Remember what I said before And I believe we can go and check this together and then I'm buying these pullbacks, right? So over here, we're talking about the seventh Uh at Six hours. So this is 16 So 4 p.m Let's look at the seven at 4 p.m. This is beautiful because I can go and check What happened? All right. So this is our move, right to the upside So when we said before And we are and we are over here explaining traders this I'm gonna put that Okay, this remember when we said pullback enough trend at 90 may on a heat map level Okay, remember about this. This is one of the setup that we can look at right now So this is the day that we have a breakout over here. So the first thing I will put my level over here. So breakout and I'm not buying this breakout over here unless let's say I'm scalping maybe they're like Looking for really a momentum trade, but I started looking at this breakout And we are over here around 30 000 a very key important area So let's put the moment of the breakout. This happens over here at Okay, we are 30 000 Let me zoom out a little bit Okay, so we're breaking exactly over here. This is the moment of the breakout. All right. So what do you see over there? We can put our rectangle Okay, is this level here Breakout 30 000 breaking 30 000 Very important area over here. We start like pushing And as I said, I'm not really buying over here because often you can have like a breakout and then right away it goes back So what I'm looking for I'm looking for a first pullback over here Into this area So where you see over here the price There we are Here's over here the price is falling, right? So everybody's thinking over here. Okay, we're gonna probably go down now I see sellers. No, this is a small accumulation. So first you have the breakout Which is at this Level over here and then you have this small pullback. So that is where I'm looking too long All right. So that point Is where I will start looking and that point is exactly this here over here So this curl Is exactly where I went too long Okay, so that's the importance of not looking for me to buy the breakout but looking for the main pullback And if you have this area Then you have also a low risk area Which is this I would just risk this area over here And then How can I trail this? So I know that at this point we're talking about One R. This is my one R. So this would be like 150 bucks All right of stop And what I'm looking for I'm looking to ride the trend until the trend Is holding this 90 may and this is a Perfect long over here. This goes up 400 points 400 bucks over here And you can see that the momentum that we have We break a heat map Big buyers over here some sellers. I believe profit takers We remove another heat map. So again, don't short only because you see over here a main level of supply Okay, but instead ride this trend ride this trend And over here we reach the peak Where you can see a main supply area at 31 500 And then we start like unwinding And where this happens Just into this Level over here. You can see that we start going below the the 90 may Some letterality. Okay, so we start forming over here a main support We have the first break in the support We have this distribution pattern and then boom We start going back to the 30 000 And you can see over here and I will zoom out a little bit Again, you see the shift, right? From all these buyers over here And then back to the sellers So I simply love to see this And this is really my confirmation if I'm looking to hold trade And then over here again This at these levels over here. I want to see an important date level Uh resistance over here. You can see one time resistance one time resistance or something So we have like a microstructure All right off Pops into the 31 500 in the right away rejections Now sometimes you will see the price a little bit different. Remember, this is b finance And this is bit phoenix. All right, so you will need to put the same one You have the same exact price Okay, and then even from broker to broker you will have like different type of I would say liquidity For example, this is if you trade the spot, right over here, Bruce can tell you about it. These are five Brokers all together one of these is cracking. So you and I can have also this btc usd And generally I I use this to see we say the overall trend and then I see over here if I want to trade futures All right This is a terrific Indicator Yeah, that if I can just jump in for a moment that that's really really smart, uh, joseph I don't know why you're having such delays in here on on your book map or on your in general on your machine, but Anyway, that's really smart. I mean the the um, you can see in the upper left hand corner when you go over the multi book product It tells you what exchanges you are connected to there Five different exchanges and see in the upper left there you can point to it. Um, it says Bit stamp bit finax coinbase pro ftx and kraken Not just a little further up than the white white bar Okay, yeah right there And uh, it's a synthetic instrument. We've we've had this for a while now called multi book because there's all Different exchanges have different amounts of liquidity and and data in there and and transactions. So Uh, this is a much more objective view to be able to put together um All five or at least five different exchanges. Uh, so that you can, uh, Have a better picture of really what's going on soon. We will have the uh liquidation indicator Working on this as well perfect all right, so Do you have any questions bruce on? Yes, a few questions here on youtube. Um, so hold on a minute Well, first off crypto man, uh, was asking about the free version. Yes, it already exists. Uh, just go to our website Bookmap.com and then just sign up for the free version. Then simple as that um the there's also, um web.bookmap.com and um Uh, then let's get to a couple questions here. Uh, madden is asking Uh, what type of um type of tapes do you use? Uh, could you briefly explain how this is? Uh, the setting um Or what are the settings I guess Settings off uh my audio flow. Yeah of of the tape. I'm not really sure what what um, I guess maybe the volume dots Okay, probably so it really depends in this case Uh, what you want to see? Uh, I use for crypto over here Okay, let's look at this. I can show you over here my status configuration Uh, these are the volume dots So I generally put this smart, but you can also filter by volume All right, uh, I use 3d bubbles and volume delta Uh, I have the cumulative volume delta I have over here the vweb um From time to time I will put candlesticks So let's say I don't want to look at my chart I will look at candlesticks over here But I want to make it very simple traders. What I'm looking personally as a trader is many years. I'm using bookmap I'm looking at two main things. I'm looking at the volume dots And I believe I can read pretty good to see if we have exhaustion absorption reversals and together Uh, two heat maps those are the two main indicators Then of course everything that you know can help us make us the life easier like the sweeping the care the liquidation Like the absorption indicator. So many of these everything it is going to be useful, all right Especially I would say for being a trader's but try to focus Really on the levels of heat map And the the flow Because this is really everything Like over here right now we have our price This is the demand. This is the supply over here. So this in this So the price is getting always I would say tighter tighter and then it will eventually look for direction All right, and over here. I'm not really going to short anything Why because the first main supply is at this almost 31,000. So up here In the first main support is a 30,000 as we would expect or this 29 and 100 Which is over here and over here So for me, this is a no trade zone. Okay. I'm not really going to trade over here for micro, you know, scalps I'm going to wait for some bigger direction And I'm going to wait for some a plus setups. This is very important. So, uh, one of the We say one of the things we always say the traders need It's uh, it's basically a scale is to have patience patience sometimes to be over here for hours To wait for a pattern. Maybe sometimes the day won't even have a setup But eventually when you will have it and you will have like a day like we saw before over here on the on the 7th Then that will be really your paycheck. I mean one setup like this You see this accumulation over here and then you start buying these if that's perfect You need really one trade like that Okay, so this is very very important for me Uh, and I believe patience in one of the with the skills It's also net that all traders should have and should learn. Okay, I should learn because not everybody has patience Yeah, um Joseph uh Not only the the patience and the skills you have that you've developed over the years with your your trade management and staying With your strategies and knowing precisely The numbers behind your strategies Makes all the difference in the world. And you know, I've mentioned that many times over But uh, that's it. I mean, uh, you know, that's uh, uh, you have confidence when you take the trade And then you give it patience Exactly. So I still make uh, average traders every single day But the difference between I would say a newbie or an experienced traders is the way you react After having made an error and the amount of errors that you make that is the real difference So I try as a trader to I would say make my strategy the more systematic as possible like the more, uh, Automated possible my strategy is the less involvement of emotions and therefore errors I will have And this is a really important factor. So if you try as I said before To think that trading is like a puzzle putting the pieces together So not only looking the chart over here because for me Really resistance and demand and support over here doesn't mean nothing But I need to have more things together. So we'll put for example the chart patterns Or the flow and then of course supplying the man all things together Then we'll like create an image for my puzzle and I can understand how to trade it Otherwise, if I don't have all these three I would say hints I really have no clue how I'm gonna trade it Yeah, and and another thing for for everybody attending here, um, Joseph put a really nice presentation together and gave a lot here Those are some really nice strategies for for longs and for shorts That he went through and detailed for you Those are worth millions You know, so, uh, it's all there. Uh, so very generous. Uh, thank you, Joseph Thank you very much as well. Thank you very much, Bruce And it's a pleasure over here for being over here with you traders today Uh, let's cover some, uh, few more features of Bookmark together, Bruce. What do you think? Yeah, sure. Sure. Uh, there was another question in here. I'm searching for it as well Let's see It was Uh, yeah, I mean, um Carl brings up an interesting question and I wanted to elaborate on it. I go to part two How long do you guys usually stare at the screens? Uh, do your setup? alerts Do you set up alerts to stay away from the screens? This is a very good question. Bruce, personally, how many how many hours do you stay at the computer or at least staring at charts? I am embarrassed. I don't even want to talk about it I believe that, uh Well, I have to be honest. I stay 12 hours a day because I give myself a limit But if I have to tell you how many hours it takes me to make money during the day I would say one hour When I trade for example myself the Missouri the money making the first hour So when you ask open still 10 30 And uh, I have the privilege over here that I work in Europe. So, uh, 9 30 new york time is my 3 30 p.m Uh, sometimes I will do also morning session because european session is also I would say pretty volatile sometimes Uh, and uh, I can see some very good movements But one hour a day is more than enough of course This is a few day trade Other times I want to have anything for that one hour that I'm waiting. So maybe I'm waiting like, you know 10 11 12 13 2 p.m 3 p.m 4 p.m Even more to have a setup if I get to my 10 o'clock p.m Which is uh, 4 p.m. East New York time. I'm done. I mean I need to go also relax a little bit And then I'm up very early and checking again the markets. I know it's like, you know tough I know that some people may have like You know, uh a job. So they're doing this part time, but if eventually Your life Is about trading like mine is this becomes not really a good job becomes like more necessity So you're gonna trade because you love it and because then you see that you can do it very good You can make money from that from it and then you know More I mean enough is never enough right, but Being wise and now we're here being also mentor I would say that one two hours a day Uh, and then you know go do something else Uh, if you instead want to be like a professional trader work like me full day, then you're welcome And and then the follow-up question I had on that, uh, joseph, um is um Some of the I'm just really curious some of the big differences you mentioned a few That you have noticed between stocks and crypto in general, um the way that they trade Okay, so different type of manipulation the first thing that I will tell you bruce Uh, we have uh, for example on stocks um to I would say the difference shape between small caps and big caps small cash There are I would say terrific in the sense that if you learn that manipulation, you know how to trade very good Big caps though. They are very similar in cryptocurrencies Uh, what I like is uh to trade bitcoin I mean if I have to date trade, I'm going to see on bitcoin only if I have to maybe Swing or buy as an investment. I can trade also other all coins, you know, like cardano chain link and others liquidity Is not an issue with bitcoin um Liquidity is not the whole solution on stocks. So we have very similar Uh, right now I have to be honest. They both follow Yes, very good. So I'm using yes every single morning This is a trading tip that I give you to trade also bitcoin Of course, then you can have like relative strength because maybe bitcoin came out that day There are some new some new brokers some uh legislation something like that coming out. So It will have maybe a different I would say, um Outcome for the day, but otherwise that's very similar Uh, I see, you know the same thing margin So small accounts both work on margin I see right now that you can short and long on both, you know small caps big caps and also over here um Bitcoin cryptocurrencies I would say that In a sense, uh Bitcoin is better because they give you the possibility to work 24 hours 24 hours for all week even more than futures So for example, who can work? only Let's say, uh Who works and can only look at this during the weekend You can do it that Saturday and Sunday and it's a pretty good tool Like instead of watching your formal one or television, you can look at bitcoin And see to make some money But for the rest, I don't see that main use difference. I see the same spoofing I see okay some different type of manipulation that yes, but same washout same stops stuffs Uh For me, they're very very similar right now. How they're how are they moving? I really can see many times tesla moving his bitcoin vice versa So if you put a chart together sometimes, they're just like the photocopy at different prices Yeah, interesting interesting stuff Let's look over here. Yeah something else you wanted to go over joseph On the uh on the bookmark chart there Yes So about the risk because we always talk about entries and this I would believe is the last thing I'm going to cover today We always talk about the interest how important is having an entry But a lot of traders enter and they don't know what they're going to risk What they're gonna what is going to be their stop? So if I'm looking let's say Right now to buy into this Uh the main area, okay, so we're buying this support. We said before we had over here Some sweeps you can see over here massive sell-off Over here, all right over here main support then I'm looking ideally for a long Let's say I take a long over here 30 000 Now I entered and two things I have to think about So I will ask myself two things. Where's my stop? And where is my take profit otherwise if I don't have those clear in my mind Before I take the trade and when I take the trade I'm not taking the trade So I am very careful to put my stop below the support Because the majority of the big hands or who manipulates the market Is gonna use maybe sometimes to rollo Or uh Is gonna simply look where traders have their stops And they're gonna hunt you maybe they will like Go hunt your stop boom reclaim and that's you know the famous bear trap we said before So be very careful to put the stop over here just add a support or below the support Sometimes I give it Or a little bit of wiggle room. So maybe I will put like, you know A few hundred below the main support All right, or if I see over here that this is really like selling off so strong And it's so heavy. I will like downsize my position And then I will simply like react the position if it's going towards my direction So be careful to use just like a heat map over here as a level to put the stop The second thing I asked to measure is I have to measure my risk-reward ratio or my profit factor as you want to call it So if I'm for example risking this level and let's say over here and risking 400 bucks I know ideally that this is for my personal stats. I want to see 3R Right, so I'm going to look three times This right, so I'm risking let's say 400 bucks. I want to make 1.2 Right, so I'm going to put like 1200 over here 1200 something like this that ideally has to be my take profit All right, so always measure of course Inside a trade you will need sometimes to change this. Let's say we have a fast reversal You're going to maybe take out for one hour profit or break even so different type then of Strategies to trail and risk management, but have always set your risk reward And I would say your stop loss, you know take profit before you take the trade When you're in a trade then you still have to monitor this So you're going to put other questions You're going to ask yourself where you have to trail if things go bad if reversing when you're getting out Do we have the same pattern working? Is the still the same setup valid or market change? Always have everything under control That's the reason why you know beginners should start with one position at a time When they close that position they can look for a second position not, you know like trading Two coins four stocks two futures at the same time And then you know Going I would say Wrong on every of them start with one At a second when we're more experienced at a third when we're more experienced and so on that's my my suggestion of the day excellent excellent Fantastic Joseph, I mean great trade management, uh, and um Again, it's very very generous of you To go through thank you very much bruce. As I said, it's it's a pleasure to be over here with you traders today Thanks for book map. Thanks to book map and bruce for doing this uh I think we covered the majority of the things together traders. You can Put some comments over here below Help us support the channel. Uh bruce is making an incredible job. I mean, I don't know when this guy sleeps Because over here giving like free knowledge to everybody Uh, I believe that this is really like Trying he's truly like to to train Traders to become successful. So his work is a genuine and pure So give him like a like and again bruce you want to add something else? Wow, thank you, joseph. I mean, uh, yeah, I mean, we're we just really believe in in what we're doing In our product. Uh, I mean I I Certainly believe in it. Um, I think and especially with these new Indicators like this liquidation indicator I mean it just shows you how the market works. I mean, uh, it's just incredible the transparency that that It's it's it's an exciting time. I think um that uh, you know data visualization Of new elements in the financial markets Is this is um, um a growth period And uh, uh, we're we're capturing it. Uh, and it's it's it's a lot of fun and and very exciting Yeah, it's been also Sleep Depriving as well Okay, but yeah, I know what you mean Oh, I know I know you work you work extremely hard. I I I know I I I I see you. Um, uh, but um, Uh, excellent presentation joseph. I really appreciate you putting together such a nice presentation Uh, and uh, and covering the crypto markets like this. Uh, so, um, uh, thank you very much Yeah, I don't think there's any other questions. Uh at the moment here But uh, if you guys want to reach out to joseph, I've put it into the chat several times already Let me do it one more time here in YouTube and And note, uh, he also comes here. Um, uh every day for the or I'm sorry every wednesday For the, uh Stocks webinar here at bookmap. Okay, it's free. It's open to all so, uh, you know, you can also go over that with joseph um No, I think uh, that that covers uh covers everything joseph Perfect. So again traders, uh, thanks for being over here with us today. Uh, thank you bruce. Thank you bookmap Uh, and see you again next week and also for the crypto series. See you again tomorrow with another trader Thank you guys and have a good day Thank you joseph