 This is Bruce at Bookmap. Welcome to the Bookmap platform details for Friday, October 13th. Risk disclaimer, trading equities and futures involves substantial risk of loss. It's not suitable for all investors. Past performance is not indicative of future results. So we'll go to bookmap.com here, find out more information about Bookmap, and then there's a free trial. So you get a 14-day free trial, and it also gives you access to not only the platform but our resources, so our educational resources. For example, the advanced order flow webinars and our educational course. So that webinar starts in about 30 minutes, and we go through just looking at the advanced order flow. So we're trying not to focus much on any platform questions, and that's what this webinar is for. So let's take a look here. Let's go to bookmap.com and just scroll up here to the top. You click on explore. There's a few intro videos here, and we'll continue on down. Some more information just about Bookmap, our partners, Bookmap for equities. This is an excellent, if you guys trade equities, we have NASDAQ TotalView. This is connected via dev experts or DX feed. It's an excellent data feed, so you get total depth of market, which is great. Further down, connectivity. This is the way that you connect Bookmap to the markets. We're not a data provider, so you will need a data provider. This is just a software platform, just like Ninja Trader is, or just like a TT Trader, XTrader Pro, or the Interactive Brokers Trader Workstation. So we connect to the API of these three, or as you can see here, these are just data feeds, and you connect directly to the data feeds. Okay, under pricing. Now there's just one version of Bookmap called Bookmap Basic. It's $49 per month. It's billed quarterly, and you get a 14-day free trial, and that'll allow you access to everything, including all the educational resources. Now the Bookmap Advanced includes more features. So there is the ability to trade from the chart, the one-click trading. It's a nice feature because we see the liquidity map in front of us, so we know we can front-run liquidity, or we can hide our stops behind high liquidity for higher probability trading and execution enhancement. And then we have these different indicators here that we developed that are proprietary, and they look at order flow. So large lot tracker, we're looking for larger players in the market. We have some imbalance indicators here. We also have an iceberg detector that does spots where some of the iceberg orders are getting filled, and we have a correlation tracker. So these are some of the details and differences you get. If you want the full version or list, you can click here, and that'll take you to a comparison page. Those of you who are quants and looking for connecting your own data feed and your own indicators, then please click here and ask us any questions. Okay. Let's see, you can also follow us here on Twitter at bookmap underscore pro, and you can subscribe to our YouTube page here. So here we have some playlists that... Here are the features and components. I would recommend going through these to begin with, just so you understand what you're looking at in bookmap, what the different features are and how to use them, and then these order flow video snippets. These go through order flow phenomena that is uncovered by bookmap. They're very short videos, just a few minutes each for the most part, and this is the kind of content that we go through in the advanced order flow analysis webinars. We go through and we see these things all day long. Exhaustion, absorption, flip of the order book, rejections and breakdowns, etc. You can also access some of the other webinars from ProTraders that presented and selected webinars here. So if you want a taste of what the advanced order flow looks like, you can go to some of these, and that ought to about do it. So let's take a look at the NASDAQ today and just zooming out here in bookmap. For those of you who are new here and I see some new faces in the room, so welcome. And secondly, looking here at bookmap, this may look like it's rather foreign to you. It's a different kind of charting platform here. Now, it's actually really simple stuff. It may look very complex, but it's just showing three things, and I'll go through the demo here to explain them. We're looking at just historical, best bid and offer, just true price. What was the historical bid? What was the historical offer? And then the volume that traded on the historical best bid and offer. And that's with the volume dots. And then we show this heat map here, this grayscale heat map. These lines here, what they represent, are high liquidity. So already we can see some pretty interesting stuff for today. Here is the 830 fundamental release. We had the retail sales and CPI data. You can see that a market looked upon it as bullish. It went up pretty quickly here, about 10 points or more. And then went sideways for a bit. It sold off and look at the liquidity here. And actually look at the high liquidity up here. The buyers didn't take these guys on. And the buyers or the sellers didn't take these guys on. These are buyers down here, layering their liquidity into the market. This is bullish. This is bullish behavior here. There's no question about it. You wouldn't see this on a typical chart. Because you don't see the liquidity. You don't see the historical limit order book. You just see the current dome. And I'll detail that out in just a second. But this is where we broke from. And they're supporting price above where we broke from. So this is bullish. There's no question about that. We come up and test into the high liquidity here. I mean, you can see we were channeling between two areas of high liquidity. And you can see that we came up and tested into it. And look out, they can see that we can see in these areas here where they're raising the bid. They want to be buyers up at a higher level here. Higher again, higher again, higher again up here at 98. We're starting to see maybe a flip of the limit order book from the offer to the bid. We'll see if they still remain here and how bullish they are. When we test this area here. But anyway, just some interesting things to point out looking at the overall big picture here in book map. Now, what is some of this stuff and how to understand it? We're going to start off with a candlestick chart. All right. And I'm going to take all of the other layers of information off. Because this is the view that we're used to digesting here in terms of data. We also have a sub panel here, an indicator panel that is for the cumulative volume delta. I'm going to close that. And we're just going to look at this sub chart here of the volume. So here's our five minute candlestick chart. You see 830. You see the data after and the move to the upside and bullish behavior. Now, like that example I just showed you, we don't see any of the liquidity down here. We don't understand what's going on down here. Why price kind of stopped here and why it continued on up? Okay. So very limited data in a candlestick chart. We're only looking at four data points, open, high, low, close of a five minute period. That's it. And we're making financial trading decisions based on that. There is a lot more to see in these markets. I mean really like 99% more data here than just looking at this. So for example, what about some of the microstructural areas? Okay. What about some of the details in that and where the volume traded? Okay. Not just where it traded on the candlestick, how much and what type, aggressive buyers or sellers and who is the winner? Who is the overall force in that traded volume? Okay. So let's turn on some of the layers of information here. So first I'm going to turn on just historical best bid and offer and why this is important. Okay. This is important because we can start to notice all of the price action between these candles. Okay. So let's look into this area right here because it's where we came down. And we want to see some of this microstructural area here. And what do I mean by microstructure? Okay. This isn't really that microstructure. But it's because microstructure would be like really zooming in here. And we will in just a second. But we can see here that we continue to move down. Okay. Actually, the break from the move down. Okay. Where did that actually occur? Well, here's the level we broke down below. But we actually, there was a little trading range up here as you can see back and forth and then a break. Okay. And then it came back up and tested where it broke from. Okay. We don't really see that in the candlestick chart. Okay. And what about this area here? We see the same pattern again. We kind of went back and forth here, tested in a range, and then we broke from the range here. We had a slight pullback and then accepted above that area. One more test into like the middle of this range, which would be, you know, it's going to be like a high volume area, probably right in the middle here. So the point of control of this range. Okay. And we continue to accept above it. Okay. There are some buyers down there or lack of sellers. And we continue to rotate up and you can see the bullish activity for the rest of the moves here. All right. So that's just the micro structure starting to understand it. Now let's turn on volume. Okay. So now you can see the dots here on the historical best bid and offer. So let's zoom into this area here and take a look at it. Okay. And what book map is displaying? Because we can see this big dot here. And what it signifies is mostly buying, aggressive buying, market buy orders. Okay. About three quarters of it and about a quarter of it is selling. Okay. So we get the overall picture of it. But if we continue to zoom in here, note that we see every single trade that took place here. Okay. So we get a little bit of latency here, pretty fast move and best bid and offer. That data comes in a little bit later after the trade data did. Okay. That's because they come via two different protocols. So there's a little latency sometimes. Okay. So anyway, we have that understanding of just visually here of the aggregate of this volume. But you can see, as I zoomed in here, we have all of the data still here. Okay. Every single trade activity. Okay. As you can see, I pull apart all of that trade activity and we can see everything that occurred here. Okay. So in this area here, you can see someone hit the market buy button and these green dots are transactions that took place on the best offer. Okay. So the red dots here are market sell orders that took place and they took liquidity off of the best bid. Okay. That's just how the market works. All right. But you can see, as I zoom back out, there's so many, well, this is zoom back in and just show you, like for example, you know, we're down at microsecond level, so millions of seconds. Okay. We can go down to nanosecond level. Right. And look at billions of seconds. Right. Now, we don't trade off of those levels, but if you wanted to see your trade performance and debrief it, you've got all of the data here. Anyway, as we zoom back out, you can see that I'm compressing this timeline and I'm squeezing all of these trades into, you know, one big kind of cluster here. And as I continue to squeeze them, we just give you visually or graphically the overall understanding of the volume that occurred here. We can understand it like, yeah, basically, you know, three quarters of this is aggressive buying and there's some selling in here as well. All right. So that's how it works with the traded volume. And then, you know, that's just one piece of the puzzle though. So we can see the type of volume, how much and where. Okay. And also with the historical best bid and offer, the structure. Okay. So, for example, they lifted the offer here with some aggressive buying and there was some retests in these little areas here. So we see kind of a change in the order flow here. As you can see, selling, more selling, more selling. Okay. So on the overall, they start to buy into it a little bit here and there's more selling down here, but it's starting to dry up a little bit. And then look at the change. Okay. A lot of buying. Okay. And look at on the retest into these areas here, a lot less selling. Okay. It's not like these clusters over in these areas here. Okay. And we get one more push to the downside here and actually quite a bit of selling here. But to no avail, we come back up and the buyers step in and take control right in this area. Break this structure right here. As you can see them push up. This is initiated buying. Okay. And this is what pulls the market up out of their structural areas. Okay. All right. Now that's just the traded volume. Okay. And that gives us a lot of insight. There's no question about that. It's for those of you looking at footprint charts, you understand that the problem with the footprint chart those is still going to aggregate that data. You're not going to see the microstructure. You're not going to be able to see these details here of the structure being broken and exactly what occurred in these areas. Okay. So you get a lot more insight here by just looking at that historical best bid and offer. Anyway, looking at the traded volume is important. All right. Now let's take this candlestick off here as it's not really helping us now. But and this is what the chart looks like with just historical best bid and offer and traded volume. But there's another piece of the puzzle here. That's really important. And this is where book map really offers a lot of transparency and insight. Okay. And that is the limit order book. Now most of us, you know, we look at the limit order book with the current dome. Okay. It's the depth of market. And you can see here I have the depth of market in this column here, the current order book. Okay. This is your dome in book map. Best bid and offers right here. And then you can see depth on the bid and then depth on the offer. Okay. And the bottom in this window here, best bid and offer here. And then we see the last traded volume is this number. All right. Now this is a good view. It's good to see the current auction and understand this auction, where liquidity is, where traders are lining up to buy and sell in this market. The problem with it is that it's just the current view. Once these numbers change and they change all day long, once they change that data is gone, the previous data. So that's where book map solves the issue with the heat map. So let me turn on the heat map. And what we do in this window here is we take that high liquidity and you can see 92 sticks out like a sore thumb here. It's the highest area in that limit order book right now. Okay. On the bid. And these are buyers. Okay. Lining up here. Okay. And so when these numbers change, the heat map changes and you can see that the shades of gray here with some subtlety. Okay. On the most part though, I've got this, my heat map set up. So I'm seeing, we can look at some of the details if we want. Right. We can look at all of the details if we want in fact. Okay. It's all in here. But it's not really helping me. I want to get the overall for the larger players. Okay. And see how they're behaving in this book. And we can see, we can read their intent here as they're bidding and offering back and forth. Okay. So now we're down at 61 contracts as price is coming down toward them. And they're actually pulling and adding down here at 95. Okay. We can see it. Now where this really gets interesting is we record this data and then project it onto the chart. Okay. So like what I was just covering here. There was 92 contracts here and we can use this data tip tool. Right. 95 contracts, 92. And then they started pulling as price is coming down. Down to 70. Okay. And then last minute down to 60. Down to 50. And so did these guys have intent to trade? Did they really want to buy? And the answer is no. In fact, look when they pulled here and look where they added down here. It's very high probability. It's the same player. Okay. And again, they're pulling from 95 and where are they pulling to? They're adding down below. Okay. This is bearish. This is bearish behavior. Right. And you can see them. The aggressive sellers are jumping in. They're all over this right now. Pushing price down into searching for this high liquidity. All right. Now why is this liquidity so important? Okay. And we're. Well, I mean, we started off the webinar showing that. Okay. I mean, look at this area down here. This is very bullish. Okay. You wouldn't, we wouldn't see that. We wouldn't know that the story in this chart here is this area right now or it was previously. Okay. Now we're coming down into another high area here at 92. And you can see this, these guys have been in here a long time. Okay. And it's, you know, around 10 o'clock or so. Okay. They're waiting to trade here at this level. Okay. And we're starting to come down. They're pulling and actually adding at lower levels. Okay. So understanding this, you know, a lot of traders will say, well, I don't really look at the dome because it's all fake liquidity anyway. Well, we can make clear distinctions and we can answer that question if it's fake or not. Okay. We can see if they stay in the book and trade or if they pull, like we've been witnessing in these areas, they're pulling and adding to lower levels. Okay. So let's zoom into this little area here and let's see if they're trading into it. Yeah. I mean we see some transactions that trade into 104 contracts here on the bid. Okay. Here is a trade that took place here volume of 11. Okay. Volume of 29 altogether. Volume of 31 here. Okay. So we're starting to get a picture of their intent to trade here. Some of it traded. Some of it didn't. Okay. And so we know if this is fake or real. Right. We've made that distinction. So that gives you tremendous power over the limit order book. So notice the little bounce that we have here at 92 because they're staying in the book. Alright. Anyway, there you go. That's what the book map is showing you. And now getting into some of the more advanced analysis is the next step which we go through in the live order flow, advanced order flow analysis at 11 a.m. Okay. So let's see here. Anything else? Any questions that you guys have? I mean it's really pretty fascinating stuff here to witness. Like look at this reversal pattern up here. Okay. And we're going to see some distribution and we're going to see it clearly in the order flow in book map. Okay. And what do I mean? Okay. So you know we're all pretty familiar with like head and shoulder pattern, double top, double bottom, etc. Well this is kind of a complex head and shoulder and it's kind of just a big rounded top. Okay. And look at the aggressive bind here on the upside. Okay. Into high liquidity that's being absorbed. You can see the trading into these areas here. A lot of it's being pulled but you know they're pulling up to this 6105 area. Okay. Now we also have the figure here 6100 pretty important number trading up above it and people buying the breakouts here are going to be trapped and covering down at some of these lower areas. That's what's happening right now. But look at the order flow shift is what I want to cover here. And we can see it not only in the traded volume but we can see it in the heat map and it just gives you a lot of transparency and insight. Okay. So for example they're lifting the offer here. We see the aggressive green dots. Okay. The aggressive market by orders pulling price up lifting the offer up into this higher liquidity. Right. And then we kind of go sideways here for a while. Okay. And then we can start to read. Okay. Note the when we were making higher highs here and we're seeing more aggressive buying at higher highs. Okay. And look at the areas down here on these higher lows. Okay. We're seeing very little. Aggressive selling. Okay. This is very typical in a trend. This is what trending environment looks like. Okay. We see a shift right here in the order flow. And we also see a shift here. Okay. Up here we're not seeing more aggressive buying at higher areas. We see very little buying and it's not making a higher high. In fact it tried to test here and it tried again here and it didn't make it. All right. And then we break the structure. Okay. Here. And look at the aggressive selling that comes into the market. Okay. And these guys that were supporting price up here at this 98 and a half area. It looks like, you know, they got their fill here and the sellers took them on. Okay. We see notice the shift in the structure and in the trading. And then we're going to see it in the heat map too. Okay. In this area here, they started to lower their offers, you know, into this 6102 area. And we see 6101. And then look at 98 over here. All right. And now we're seeing the shift. Okay. We make another lower low. We see more aggressive selling and look at the retest up in these little areas up here. Very little buying. All right. So that's the kind of transparency and this is why these kinds of patterns form. Okay. It gives explanation to how these patterns form. And you can see it right here in the order flow. Okay. All right. All right. And then now we can see another thing. And this is what we typically see again is the the break below this swing here and then the retest back up to it. Okay. And we're just witnessing that right now. And you can see the sellers are here at 96. Okay. And they're staying here. They want it. They want to trade. Okay. Buyers might take them on. Doesn't mean it's going to reverse here. But it just means that there's high liquidity here and they're staying in the book. There's no question about that. They're staying in the book. They want to get filled here at 96 on the sell side. 110 contracts. Okay. And we'll see. The buyers can take them on. Here they go. They're trading into it. See? Okay. So is this fake liquidity? Absolutely not. All right. Anyway. Our time is up. It's 11 a.m. So let's call it a call it a week here. And don't forget about giving Bookmap that 14-day free trial. If you guys are interested in checking out what Bookmap is displaying here and then learning more about order flow. Okay. All right. Have a good weekend and we will see you next week.