 Hey guys, good morning. We're back today with another webinar. We've got Joseph Gasparoni or J-Trader joining us, a professional stocks trader with a ton of experience in bookmap and order flow trading. This live session is part of our education here at bookmap and these webinars with Joseph are held every Wednesday at 10.15 a.m. Eastern Time. Hopefully we can give you a taste of how a professional trader uses bookmap in their trading process. Once we get going, please feel free to ask questions either in the YouTube chat or the Advanced Webinar Discord Text Channel. But before we jump into the live analysis with J-Trader, just a couple of things to take care of here. First of all, J-Trader's contact information. You can find out more about Joseph on his website Jtrader.co and you can connect with him on Twitter at JTrader.co and the disclosures here. All bookmap 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. Trading futures, equities and digital currencies involves substantial risk of loss and is 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 one's 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. Hello Joseph, are you there? Just waiting for Joseph here guys, bear with us. Joseph, can you hear me? Good morning guys. Hello, good morning. Good morning Sam, how are you doing? I'm good, thank you. How are you? Good, I'm ready to go over here. Market is pushing quite strong. Watching over here at Tesla, yes. And a couple of small caps this morning. Some good play, so I think we can start when you're ready. Okay, let me just grab your screen. Okay, I think you're good to go. All right, so good morning traders. Main place you can see over here. We are at Tesla this morning in Mehta, Leys, B1, Lipo, and also Amundsen. So, I'm going to focus this morning on Tesla, as I've been trading this. We share in this courtroom, some over here in in Booker of this courtroom the place that we took on Tesla this morning. And we can see right now we're breaking finally this range consolidation. Started from Amundsen over here. So, we have the resistance of 123 and 40. Lipo over here to this level at 115. And now over here we're breaking pretty good volume. So, this morning we had over here we had a long bias and I'm going to share the plan. So, we have a main point of control at this level 121 and 30. This is the weekly point of control. Right now we are above this level. There's volume, dip buyers this morning. So, I made my plan plan A plus above 123 look to long dips and bullish patterns. Second play over here was look for a shorting case of a fail and a rejection of the level. We've been playing with calls 125 and puts 115. Some of the patterns that we took this morning are shared in some on the Booker of this courtroom but the entire session I recorded in a small cap room. So, we started to grab over here dips long this morning 9.30 for this fact that I saw over here wash wash into a demand zone over here into this 121 and we start buying dips over here then we had a second level and 9.45 where we bought more over here and sold into this push and this push and I was saying this morning until we have this consolidation don't be early ok so if you know how to read a pretty good level of book maps and price section and if you know where to look for, where to look at then this is the zone that I really want to buy and we bought some of this just few seconds so we were buying over here along the way sold in this push and then you can see over here the price after 30 minutes still lateral when I see this I start looking at the bigger time frame so I have over here course of the flow but I start looking at the 5 and a 15 minute chart and next to it I have a 1 hour chart so I'm starting over here to see the break of this 127 122 and 70 and remember what we said above 123 look too long on our bullish patterns ok so 123 came we started having over here a massive volume and now this is simply going you can see over here bars of 1 million plus today is a bullish day for Tesla today is really the day that we start over here to push and now we want to ride this all the way up until the next level 128 and then 130 so we started looking at 128 because it's a pivot point here and then this 130 one of the patterns that I like the most over here if you miss this push you have to wait for a main pullback ok right now it's bullish no reason to to enter over here on this push we need to wait for a main pullback let's move on the 1 minute move on the 5 minutes you can see bars over here you can see bars over here every single bar over here is bullish but we're going to look in case for a pullback on this 126 new high on Tesla it's 126 traders we have a pivot over here ok at 125 78 we have a pivot point so it may pull back over here into this 125 which is the previous resistance it may push back into this 125 in the meantime we are B1 short all this was a 35 minutes live commentary in trading analyzed in the room we took two short wins and two long wins we're going to explain soon B1 and also LIPO but for now this is the one that I'm looking to see this today at possibly 130 over here you can see on book map we topped this 126 we washed now we are a little bit lateral 125 and 30 if you look at this point we're making a pendant and I'm not going to enter over here need a little bit more pullback I want to see a reset to a here into the 125 ideally to add position over here we had this kind of curve you can still push more vertical so we're going to look into that there's a next target I'm looking the one over here 128 not this one 128 I'm looking at this because also we had a previous high ball and resistance area over here and then the 130 so those are my two levels of target let's see and there we are 125 in the meantime we ask is pushing so we'll probably see Tesla now starting to push back up again and you can see the level over here of support still not an a plus setup to add to the position we're testing 125 still washing still selling a lot of I believe profit take over here we have to wait still washing still selling selling previous support is 124 and 27 my plan over here is to evaluate if we can read into the 124 and 20 or the 123 and 40 the zone over here or the zone over here for now this morning by Waslist we have this and getting over here through support to start to look at this still quite selling off over here 124 can see traders on this deeper here a little bit off way to the downside so they really dumped and over here somebody jump in and bought partial still dipping over here so still a bearish candle when you want to add always look over here they massive buyer okay so this is a first bullet signal so this is the first long buy over here to add with the risk over here so we are long from the dips this morning there we are over here this 121 and now when you want to add just look at those levels we are comfortable and you know that you have a good average so if you want to long into 121 122 area and then you're adding over here to your position actually 124 what are you going to look for you're going to look now for the new average supposedly is this over here 123 so you want to always have enough wriggle room in case this dips a little bit more so then start again the uptrend yes is not helping I'm looking at the asset tick chart as well so yes is coming down a little bit yes will start bouncing back up again we'll see this pushing back up again and then when you are inside with a new average that is your maximum risk so you can see over here broke support broke support next one 123 meanwhile we're going to look over here for a dip into the deal is too long let's look into lipo the recent IPO also micro float this morning we had an extension into the fibia so I started looking over here this 770 we had an extension in pre-market until the 675 over here a lot of buyers over here they were buying each dip after this trend line break so after we broke this level of here rejections and then simply started to unwind my plan at the open was pretty clear we had just a normal gap in crap I mean we almost everybody traded this and over here was saying lipo gap in crap to trade 20 minutes before the open explaining why two levels and 630 we're looking at this this morning we can see just push over here into this high liquidity area you can see how top over here this is a fake out with 604 and we're talking about 955 over here after the halt this one it popped 604 fail so something that I look often when we go into major level alright we're looking here at this point this area and this area over here this is just like the set that we trade from years and also I've made many lessons over here on book map looking for this breakout of the 6 and fail back below just normal stuff over here usual play gap in crap low volume simply we're looking for $354 first main real target of this is going to be $4 now we're going to look for $350 just to hold this something like this very low volume breakdown over here of the slow unwinding the slow go back on tesla waiting over here traders for this trade for a re-add max risk will be in the money $122.80 so we're going to look for maximum risk selling over here getting to the $123 also VWAP let's see if we're going to have the buyers holding over here VWAP for now double bottom not in waiting over here see if you can reclaim this previous resistance and then a curl and long ok so what I'm looking is this kind of pattern when I see a trend break when I see a reclaim a little bit of consolidation and then taking the long setting my risk here grabbing a fill now $123.38 $123.38 long add so we're grabbing a fill right now and I'm going to explain why some text over here so we're seeing over here a main support of VWAP here VWAP and double bottom and we're holding pretty good now the level just a fill over here 15-20% our max risk is going to be this $123 we're waiting over here for a curl above this $123.50 and then we're looking to add size for a long another long so we're risking over here we're going to make this so the first average is $122 add $123.38 $123.38 waiting a consolidation above $123.50 to add size risking the money $122.90 every single time we get to this dip $123.15 $123.10 we see still buyers so until this is holding is good now we're reclaim the $123.40 we see if we can consolidate this level want to see a consolidation of this level to add that size that we want I don't want to see a push like this $123.80 remember what we're doing traders is adding over here so if you are in a boiler room we share all the answers down here into the $121.00 and then $122.00 breaking out of this wedge waiting for the first dip where we can re-add a little bit it's leaving too early over here we need a little bit more dips over here in consolidation $123.40 and back down traders you see main sellers over here it's like $0.40 dropped let's see if they're going to hold this $123.40 we want to see a consolidation over here this main area right we have support daily support $123.00 we have over here the VWAP this could be our level over here where we consolidate and we add more to the position always know what you're going to risk in this case we're going to risk $122.90 still not adding over here waiting $124.00 still not adding on this we have just a starter position around 15% of the add when I see more sideways action instead over here it's trying to leave let's see more sideways action over here so you can see they put over here some orders $123.30 to hold this up and then over here they cancel so seem like a spoofing order right yes in the meantime it's coming down so careful for this when yes is dumping over here Tesla could dump as well so start over here $38.00 and just like before that add so get out the add over here break even now let's see if it tests over here the $123.00 and then we can re-add okay now we're starting to consolidate more but yes it's just unwinding first break over here so we're going to trail our position now in the money yes down to $39.50 looking at the queues yes and tick charge as well alright be when over here close what I said two seconds ago be when holding pre-market high waiting for a major fakeout and less push $4.30-$4.40 alerted this in the room about two minutes ago just expecting this washout clear as sun traders and we're holding this short over here posted above with my buddy over here carfit also rioting the short $4.60-$4.40 all the way down perfect and now we're going to explain why this okay so reading the price section in small caps is still different than big caps the point over here is to know first of all the patterns of accumulation distribution knowing how the manipulation works for small caps and just looking for that main A plus setup right main A plus setup you can see over here what we said this is a 10-0-9 so we're actually just looking for that main play over here right so over here the fakeout and then the wash because this is a one of the pattern that I like to trade over here a small cap left right and then over here we're just simply now need to write it wash bull traps at this point my target today on this is going to be 320 320 STP well I cannot add over here into the weakness but you can see over here the fast push bull trap bull trap right away wash waiting now for 320 simply perfect now we want to see the price over here which is holding a daily level just on wine first till 370 and then till 320 we are below the pre-market eye I don't want to see a reclaim of the pre-market eye I want to see this this is the pre-market eye I want to see a fail over here to this main point right big selling pressure over here usual fakeout nothing new I mean if you look at this series of webinars since the last 4 years we're doing this over and over and over let's say we hear the price action $4 rejecting unwinding over here when I see sellers jumping in holding up 4 I want to see a fail of this so a trader over here is asking me how did you know of that potential fakeout this is from my trading room 2019 a play that we took and over here you can see the same exact price action so looking for this fakeouts okay so looking for these breaks and fail break and fail so same usual pattern over here that we had today on on this one alright same fakeout over here then over here we have another one now the point is we have to continue to unwind over here and seeing that selling pressure that's when we hear the 410 now we have to hold just target and that's it that's like 122 over here traders we have a little bit of bounce on this B1 volume is very low we have potential now or a secondary push to 430 this point over here or another potential push to the 450 if you're short higher if you are in the room we shorted this point over here 450 now we're simply holding over here not really looking to add this point but it's the mid range hey Joseph yes are you out of your Tesla position now how's that on Tesla yes trailing the money on this fail as we said 122 in 90 I just wanted to say I think honestly guys I think you've been spoiled because that was fascinating hearing your thought process during that Tesla long there the trade didn't play out but it's an important note to not be results oriented all the time I think this was a really great demonstration of controlled execution you always had a plan you knew what you wanted to see where you wanted to see it and you defined your risk at all times many retail traders there probably would be start panicking as we started coming down from 126 and but you weren't candle watching stressing about every tick you remained kind of calm and focused so yeah I really think that's the science of what it takes to be a professional trader you know thank you exactly like that you have to know your risk always so you have to follow the strategy without any motions because you're not trading based on emotions, trading based on the strategy so you don't have to think oh you did wrong you had a mistake no you simply trade what the strategy is telling you and then of course the market will decide if it goes good or not and then you have to be disciplined to respect your rules and just go with that, nothing else so simply straight plan everything from the loss list you know I think it's it's a very good example today of and out of here then work we cut it actually we cut it break even before the breakdown and then simply and wine over here now and no trade for us so just waiting right now yeah I mean you gave every chance to work and you protected your capital for next time and you know you just got to keep doing that and in the long run over the long term you know you're heading the right direction exactly exactly it's not about the high win rate it's more about you know the risk management and profit factor which is more important for us yeah and the thing that really hits me about your trading you sound absolutely not frustrated at all you know you're not even a sigh or you know banging the desk or whatever you know you just you're like a Vulcan of course of course I mean those times are gone and just training now plan was list being like observant of the rules so I know exactly and today is a good day so so exactly and exactly what I'm going to trade what I'm going to risk so until I I'm with the discipline you know I I don't feel like emotions yeah good stuff thank you all right almost 11 30 any questions over here Sam no I think we're all caught up no questions okay yeah we can call it out over here I mean like markets lower down and we're in a position on B1 so we'll be looking at this and Tesla for now nothing so I think we cover some good points today if you have questions readers reach out to me or Sam bookmap see you again next week Sam you want to add anything else otherwise see you all next time yeah thanks guys for coming and hit that like button if you've enjoyed this content and yeah really really appreciate JTrader hits I personally found it fascinating just hearing how calm and relaxed you can stay during the execution so yeah and I will see you all again tomorrow and next week thank you very much guys see you next time good luck